Environmental Risk Specialist

Old National Bank•Lake Elmo, MN

9d•$60,000 - $121,300•Onsite

About The Position

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving. We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization. We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

Requirements

Bachelor’s degree in environmental science, Environmental Engineering, Geology, Hydrogeology, Chemistry, Risk Management, Finance, or a related field required
3–7+ years of relevant experience in environmental risk management, environmental consulting, commercial real estate due diligence, commercial credit, or a related field
Experience reviewing and interpreting Phase I and Phase II environmental reports required
Familiarity with ASTM environmental site assessment standards and commercial real estate transaction due diligence practices
Working knowledge of environmental regulatory programs at the federal and state level
Proficiency in Microsoft Office applications and environmental/credit tracking systems

Nice To Haves

Advanced degree in environmental, engineering, or business-related discipline preferred
Experience supporting environmental due diligence in a commercial banking, credit, lending, or real estate finance environment preferred
Experience with contaminated properties, remediation monitoring, and environmentally sensitive industries preferred

Responsibilities

Support the bank’s environmental risk management program by conducting and overseeing environmental due diligence activities associated with commercial credit transactions.
Evaluate environmental risk exposure related to real estate collateral and commercial lending relationships, including the review of Phase I Environmental Site Assessments (ESAs), Phase II subsurface investigations, remediation documentation, and other environmental reports to identify potential liabilities and ensure compliance with internal policy and regulatory expectations.
Partner closely with Credit Underwriting, Portfolio Management, Special Assets, Appraisal/Valuation, Legal, Policy, and external environmental consultants to assess environmental conditions that may impact collateral value, borrower repayment capacity, or the bank’s legal and reputational risk.
Ensure environmental risks are appropriately identified, escalated, documented, and mitigated throughout the credit lifecycle.
Review environmental due diligence reports for commercial real estate and commercial & industrial lending transactions, including Phase I Environmental Site Assessments, Phase II Environmental Site Assessments, Records review reports, Regulatory database reports, Limited site investigations, Remediation status reports, Vapor intrusion, asbestos, lead-based paint, mold, wetlands, and other specialized environmental studies, as applicable.
Assess the adequacy, scope, and conclusions of environmental consultant reports and determine whether additional investigation or risk mitigation is warranted.
Identify transactions requiring enhanced environmental review due to property type, historical use, industry classification, or collateral characteristics.
Provide environmental risk guidance to underwriting, credit approval, and portfolio teams during origination, renewal, modification, and workout activities.
Advise on environmental risk considerations related to collateral acceptability, structure recommendations, loan policy adherence, and approval conditions.
Recommend appropriate risk mitigation strategies, including indemnifications, reserves, remediation requirements, monitoring, environmental insurance, or other structural protections.
Support environmental risk assessment for criticized, classified, or problem loans where contamination or environmental liability may impact collateral value or liquidation strategy.
Prepare clear, concise environmental risk summaries and recommendations for credit files, approval memoranda, and risk committees.
Document environmental due diligence decisions, exceptions, and required follow-up in accordance with internal policies and procedures.
Track and monitor environmental reporting requirements, outstanding review items, remediation matters, and covenant compliance.
Maintain organized records of environmental assessments, consultant communications, and internal approvals.
Support the administration and ongoing enhancement of the bank’s environmental risk management framework, including policies, procedures, job aids, and due diligence standards.
Assist in developing environmental screening criteria and risk-based review requirements by loan type, collateral type, and exposure threshold.
Promote consistency in environmental due diligence practices across lending teams and portfolios.
Participate in internal audits, regulatory examinations, and periodic reviews related to environmental risk management.
Stay current on emerging environmental risk trends, regulatory developments, and industry standards affecting commercial lending.
Coordinate with approved environmental consulting firms to obtain, review, and clarify reports.
Evaluate consultant responsiveness, report quality, and alignment with bank requirements.
Assist with management of third-party environmental vendors, including engagement standards and service expectations.
Serve as a subject matter resource to internal stakeholders on environmental due diligence requirements and environmental risk issues.
Provide training or guidance to credit, underwriting, lending, and portfolio teams on environmental screening triggers, report interpretation, and escalation protocols.
Collaborate with Legal, Special Assets, Appraisal, and other risk functions on complex environmental matters and remediation strategies.