Commercial Real Estate - Regional Underwriting Manager

U.S. Bank • Minneapolis, MN

3d • Hybrid

About The Position

The Regional Underwriting Manager (RUM) leads Commercial Real Estate underwriting and portfolio management activities across U.S. Bank’s Central Region. The role is responsible for credit quality, underwriting consistency, portfolio oversight, workflow management, talent development, and execution of strategic underwriting initiatives. The RUM is the primary underwriting partner to CRE market leadership and is accountable for timely, high-quality credit analysis and portfolio risk management while fostering risk discipline, collaboration, and continuous improvement.

The RUM directly manages Senior Underwriters and Hub Managers and oversees the CRE Underwriting Hubs in Minneapolis and Denver, as well as supporting underwriting resources. The role ensures alignment with enterprise credit policies, regulatory expectations, and business objectives. It also serves on the national CRE Underwriting leadership team, working with peers and the Head of CRE Underwriting on strategic priorities, process improvement, operational efficiency, and the effectiveness and consistency of the underwriting organization.

The position requires working from the U.S. Bancorp Center in Minneapolis, Denver Tower in Denver, or Milwaukee Lewis Center in Milwaukee at least three days per week.

Requirements

• Bachelor’s degree or equivalent work experience.
• At least 10 years of banking experience.
• At least five years of management experience.

Nice To Haves

• Advanced knowledge of commercial lending policy, applicable laws and regulations, and credit quality standards, with experience supporting internal and external audits, credit reviews, and/or regulatory examinations.
• Advanced knowledge of commercial real estate credit analysis and transaction structures across property types, including property-level cash flow analysis, sponsor/guarantor analysis, loan structuring, risk rating, and credit documentation.
• Experience evaluating complex CRE transactions, identifying material credit risks, and developing underwriting recommendations and risk mitigation strategies.
• Change leadership experience implementing or supporting process improvement, standardization, technology, or automation initiatives in an underwriting, credit, or lending organization.
• Proven experience leading and coaching underwriters and/or portfolio managers and contributing to recruiting, succession planning, and talent development.
• Effective verbal and written communication skills, including the ability to explain complex credit, portfolio, and risk matters to business partners, credit leadership, and senior leaders.

Responsibilities

• Lead all underwriting and portfolio management activities for the Central Region and establish and execute regional underwriting strategies, priorities, and operating objectives.
• Partner with Relationship Managers, Credit partners, and CRE leadership to support portfolio growth while maintaining sound credit discipline.
• Serve as the primary escalation point for significant credit, portfolio, operational, and staffing matters.
• Drive consistency in underwriting practices, processes, and documentation across the region.
• Collaborate with national CRE Underwriting leadership to advance strategic priorities, process improvements, and operational efficiencies.
• Maintain accountability for regional underwriting quality and consistency, and provide guidance on complex transactions, credit structures, sponsor analysis, and portfolio risks.
• Partner with Regional Portfolio Managers to promote proactive portfolio management; review and escalate emerging portfolio, covenant, sponsor, or market risks.
• Ensure risk ratings, annual reviews, modifications, and portfolio monitoring activities are completed accurately and on time.
• Promote sound credit judgment and underwriting recommendations across asset classes and property types.
• Lead and develop credit analysts and senior underwriters, coach Hub Managers, and establish performance expectations and accountability standards.
• Support recruiting, succession planning, talent development, and retention, and foster a collaborative, high-performing culture.
• Allocate underwriting resources effectively across new business and portfolio management activities.
• Identify opportunities to improve underwriting efficiency, standardization, and scalability; support technology, automation, and process improvement initiatives.
• Partner with Hub Managers to ensure timely, high-quality underwriting deliverables and monitor workflow capacity, priorities, and service-level expectations.
• Lead underwriting engagement with internal and external audits and regulatory examinations; ensure compliance with credit policy, underwriting standards, and governance requirements.
• Coordinate responses to audit findings, support remediation, and promote strong documentation and defensible credit practices.
• Participate in strategic discussions on portfolio trends, business strategy, staffing, and risk management.
• Advise CRE market leaders, Relationship Managers, and Credit leadership, facilitate partnerships between Underwriting, Credit, and the Business Line, and represent underwriting across the platform.

Benefits

• Healthcare coverage, including medical, dental, and vision.
• Basic term and optional term life insurance.
• Short-term and long-term disability insurance.
• Pregnancy disability and parental leave.
• 401(k) and an employer-funded retirement plan.
• Paid vacation of 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 program.
• Pension.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager