Private Banking Underwriter III

Old National Bank•Evansville, IN

1d•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. The Private Banking Underwriter at Old National Bank is responsible for evaluating, structuring, underwriting, approving, and monitoring credit facilities for Private Banking clients, including securities-based, home equity, auto, marine vessel, unsecured and other standard and custom credit solutions designed and tailored to meet the needs of the bank’s sophisticated High Net Worth (HNW) and Ultra High Net Worth (UHNW) clients. We are an in-office working environment with possible locations throughout Chicago area, Minneapolis / St Paul, Evansville Royal Ave., Indianapolis at 900 East 96th, Ft. Wayne IN, Ann Arbor MI, Madison WI, Milwaukee WI metro, and Fargo ND. The salary range for this position is $60,000 - $165,100 per year plus bonus. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate’s relevant skills and professional experience, educational qualifications, and geographic location. This role requires strong financial acumen, a high level of discretion, impeccable judgment, and the ability to evaluate complex personal financial statements, trust/estate structures, marketable securities portfolios, alternative investments, personal income tax returns, and non‑traditional income sources. Private Banking Underwriters partner closely with Private Bankers, Wealth Advisors, Trust Officers, Portfolio Managers, Attorneys, and Centers of Influence. They serve as internal credit experts balancing risk, service, and relationship sensitivity.

Requirements

Bachelor’s degree in finance, accounting, economics, or related field OR equivalent experience.
Demonstrated ability to independently (with limited oversight) understand and analyze complex personal financial statements, estate/trust structures, investment portfolios, and personal income tax returns.
Understanding of risks associated with Wealth credit including those related to all standard and custom structures and related collateral.
Basic-to-advanced knowledge of loan structuring, lending regulations, and internal lending policies; proficiency grows with each tier.
Ability to operate effectively in a fast‑paced, high‑touch environment with demanding timelines.
Demonstrated ability to effectively manage multiple high-priority assignments simultaneously.
Strong communication skills and ability to partner in a consultative, relationship‑sensitive culture.
High-level proficiency with Microsoft 365 (i.e., Word, Excel, PowerPoint, Access, Outlook, Teams, Copilot, etc.) and internet-based applications.

Nice To Haves

Wealth or Private Banking credit experience preferred; general banking experience required.

Responsibilities

Underwriting & Credit Analysis Performs comprehensive due diligence on HNW and UHNW clients including analysis of complex personal financial statements, trust/estate structures, marketable securities portfolios, alternative investments, personal income tax returns (including all related schedules and forms), and non‑traditional income sources. Structures both standard and custom credit facilities, assessing liquidity, net‑worth, and cash flow-based lending capacity. Prepares clear, accurate, and timely pre-screen memos, credit approval materials, and credit renewals. Aligns loan structures and credit analysis with policy, underwriting standards, and regulatory expectations.
Transaction Structuring Develops thoughtful lending structures balancing collateral, capacity, and client relationship strategy. Interprets and negotiates loan documentation with internal/external legal counsel. Analyzes securities portfolios for marginability, concentration risks, and stress‑case scenarios. Identifies risk mitigants given the unique dynamics of HNW/UHNW clients.
Portfolio Management Monitors credit performance and update financial reviews, liquidity tests, and covenant requirements. Partners with Private Bankers to ensure timely receipt of personal financial statements, personal income tax returns (including all related schedules and forms), and portfolio data. Proactively identifies potential deterioration and propose corrective action plans. Supports internal audit, loan review, and regulatory examinations.
Stakeholder Engagement Provides credit expertise to Private Bankers and Wealth Advisors to support client service and growth goals. Communicates clearly with internal/external advisors (CPAs, attorneys, investment teams) as needed. Supports development and refinement of Wealth credit guidelines, products, and risk appetite.