Commercial Real Estate - Regional Underwriting Manager

U.S. Bank • Minneapolis, MN

4d • $170,255 - $200,300 • Hybrid

About The Position

The Regional Underwriting Manager (RUM) leads Commercial Real Estate underwriting and portfolio management activities across the Central Region. The role is accountable for credit quality, underwriting consistency, portfolio oversight, workflow management, talent development, and execution of strategic underwriting initiatives. It partners with CRE market leadership to deliver timely, high-quality credit analysis and portfolio risk management while promoting 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, supporting underwriting resources and ensuring alignment with enterprise credit policies, regulatory expectations, and business objectives. The position is also a member of the national CRE Underwriting leadership team and works with peers and the Head of CRE Underwriting on strategic priorities and organizational effectiveness.

This role requires working from a U.S. Bank location at 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.
• Ability to work from a U.S. Bank location in Minneapolis, Denver, or Milwaukee three or more days per week.

Nice To Haves

• Advanced knowledge of commercial lending policy, applicable laws and regulations, and credit quality standards, including experience supporting internal and external audits, credit reviews, 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 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 clearly to business partners, credit leadership, and senior leaders.

Responsibilities

• Lead all underwriting and portfolio management activities for the Central Region.
• 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 and the Head of CRE Underwriting to advance strategic priorities, process improvement, operational efficiencies, and organizational consistency.
• Maintain accountability for regional underwriting quality and consistency.
• Provide guidance on complex transactions, credit structures, sponsor analysis, and portfolio risk matters.
• Partner with Regional Portfolio Managers to support proactive portfolio management.
• Review and escalate emerging portfolio, covenant, sponsor, or market risks as appropriate.
• 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 on leadership effectiveness and technical expertise.
• Establish performance expectations and accountability standards and support recruiting, succession planning, talent development, and retention.
• Foster a collaborative, high-performing culture emphasizing ownership, continuous learning, and strong risk management.
• Allocate underwriting resources effectively across new business and portfolio management activities.
• Identify opportunities to improve efficiency, standardization, and scalability of underwriting processes.
• Support technology, automation, and process improvement initiatives.
• Partner with Hub Managers to ensure timely execution and quality control of 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 and support remediation.
• Promote strong documentation and defensible credit practices.
• Participate in strategic discussions about portfolio trends, business strategy, staffing, and risk management.
• Advise CRE market leaders, Relationship Managers, and Credit leadership and facilitate partnerships between Underwriting, Credit, and the Business Line.
• Represent the underwriting organization across the platform.

Benefits

• Healthcare coverage, including medical, dental, and vision.
• Basic and optional term life insurance.
• Short-term and long-term disability coverage.
• 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, subject to eligibility requirements.
• Equity stock purchase, 401(k) contribution, and pension, subject to eligibility requirements.

What This Job Offers

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