CRE Sr Underwriter
About The Position
The Commercial Real Estate (CRE) Senior Underwriter manages portfolio risk by ensuring timely and accurate credit actions, providing guidance on credit structure and risk-rating decisions, and participating in pre-flight discussions. The role coordinates work with Credit, Loan Administration, and other groups to promote consistent, concise credit documents and streamline workflow among underwriting, credit approval, and loan administration. The Senior Underwriter underwrites new originations and portfolio exposures across a broad range of CRE asset classes. The role analyzes borrower financials, property cash flows, collateral valuation, sponsor strength, covenant sensitivities, and market conditions; prepares comprehensive written credit analyses; executes straightforward credit requests for existing clients with limited supervision; and assists with annual company-wide credit reviews for clients with multiple property holdings. The position supports existing-property transactions, including refinancings, and ground-up construction projects, including budget monitoring and monthly construction draw reviews through project completion. It also supports new deal originations, term-sheet preparation and negotiation as applicable, portfolio management, financial spreading, quarterly analyses and monitoring, covenant compliance, and risk identification. The role collaborates with Relationship Managers, Portfolio Managers, Credit Approvers, and internal risk partners, and may participate in client bank meetings. This role requires working from the U.S. Bank location at the Avenue of the Americas three or more days per week.
Requirements
- Bachelor's degree or equivalent work experience.
- Seven to ten years of commercial lending experience.
Nice To Haves
- Strong foundation in CRE underwriting across multiple property types, including cash flow, valuation, sponsor analysis, structure, and covenants.
- Experience authoring credit memoranda and presenting key risks, mitigants, and recommendations to approval committees.
- Strong analytical and technical writing skills, including the ability to translate complex sponsor, tenant, and technical diligence into clear credit narratives.
- Strong verbal and written communication skills and ability to collaborate across origination, portfolio management, credit risk, and technical advisors.
- Ability to independently drive analyses while partnering closely with Relationship Managers, Portfolio Managers, and Credit Approvers.
- Familiarity with banking credit policy, loan documentation concepts, and CRE underwriting processes, including construction, bridge, term, and portfolio facilities.
- Experience with nCino, CoStar, and/or other CRE research platforms.
- Advanced proficiency in Microsoft Excel for cash flow modeling and scenario analysis, and proficiency in the broader Microsoft Office Suite.
Responsibilities
- Underwrite new originations and portfolio exposures across a broad range of commercial real estate asset classes.
- Analyze borrower financials, property cash flows, collateral valuation, sponsor strength, covenant sensitivities, and market conditions.
- Prepare clear, comprehensive written credit analyses and supporting documentation.
- Execute straightforward credit requests for existing clients with limited supervision.
- Assist with annual company-wide credit reviews for clients with multiple property holdings, including analysis beyond bank-financed properties.
- Support existing-property transactions, including refinancings, and ground-up construction projects.
- Monitor construction budgets and review monthly construction draws through project completion.
- Assist with new deal originations and participate in preparing and negotiating term sheets, as applicable.
- Support Relationship Managers and Portfolio Managers in managing an assigned portfolio of commercial real estate client relationships.
- Spread borrower financial statements accurately and consistently in accordance with bank standards and credit policies.
- Prepare quarterly trend analyses, monitoring reports, and covenant compliance testing.
- Maintain compliance monitoring and financial reporting databases, including credit agreement requirements, borrower financial receipts, and key credit metrics.
- Participate in quarterly portfolio reviews, including analysis of operating statements, rent rolls, and risk assessments.
- Proactively identify and communicate emerging risks, mitigants, and other transaction- and portfolio-level issues.
- Collaborate with Credit Approvers and internal risk partners.
- Participate in client bank meetings as needed to support underwriting, portfolio management, and risk discussions.
- Serve as a reliable first line of credit analysis and escalate issues appropriately.
- Coordinate work with Credit, Loan Administration, and other groups to support consistent credit documents and streamlined workflow.
Benefits
- Healthcare, including medical, dental, and vision.
- Basic term and optional term life insurance.
- Short-term and long-term disability.
- Pregnancy disability and parental leave.
- 401(k) and employer-funded retirement plan.
- Paid vacation, from two to five weeks depending on salary grade and tenure.
- Up to 11 paid holiday opportunities.
- Adoption assistance.
- Sick and Safe Leave accruals of one hour for every 30 hours worked, up to 80 hours per calendar year unless otherwise provided by law.
- Incentive and recognition programs.
- Equity stock purchase, 401(k) contribution, and pension, subject to eligibility requirements.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
