Underwriter I, Sponsor Finance - Analyst Development Program (Chicago, IL)

First Citizens Bank • Chicago, IL

1d • Hybrid

About The Position

The Sponsor Finance Group at First Citizens Bank is hiring an Underwriting Analyst for the Commercial Bank Analyst Development Program. The group maintains relationships with middle-market private equity firms across the U.S. and provides financing for leveraged buyouts, acquisitions, debt refinancing, and recapitalizations, while also offering access to the bank’s broader suite of products.

Analysts develop technical skills through formal classes, online coursework, and on-the-job training. The program begins in July 2027 with an eight-week intensive curriculum on-site at the bank’s New York City office. Training covers underwriting fundamentals, financial analysis and Excel modeling, bank values and strategic priorities, application-specific systems, business-unit overviews, and credit policies and procedures. After the initial program, analysts join their teams and continue learning through training and professional development sessions.

After completing the program, analysts join the Sponsor Finance Team and assist with credit underwriting and portfolio management for middle-market companies. They prepare cash flow models and financial analyses, conduct industry research, support credit requests, manage accounts after closing, maintain credit files, and ensure compliance with bank policies and procedures.

Requirements

• Bachelor’s degree and 0 years of experience, or high school diploma or GED and 4 years of experience.
• Coursework or internship experience in commercial lending or credit analysis, financial statement analysis, and finance fundamentals.
• Partnership and collaboration skills.
• Written and verbal communication skills.
• Critical thinking skills.

Nice To Haves

• Bachelor’s degree completed by the start of the program.
• Undergraduate GPA of 3.0 or higher.
• Major or concentration in a quantitative field such as math, business, finance, accounting, or economics.
• Strong analytical and quantitative skills.
• Previous internship experience in an analytical role within a financial services institution.

Responsibilities

• Prepare cash flow models and conduct independent industry research.
• Assist in underwriting credits and managing accounts after closing.
• Assist in preparing new business requests, waiver and amendment requests, and add-on financing requests for existing borrowers.
• Prepare historical financial analyses and projection models for new or existing borrowers.
• Maintain credit files in preparation for internal or external audits.
• Ensure compliance with First Citizens Bank policies and procedures.
• Develop a firm understanding of First Citizens Bank systems and resources.
• Participate in the Commercial Bank Analyst Development Program, including formal classes, online coursework, and on-the-job training.

Benefits

• Comprehensive benefits program for full-time associates working 20 or more hours, with customized offerings, including family-support offerings.
• Total compensation may include variable incentives, bonuses, benefits, and/or other awards, as outlined in the offer of employment.

What This Job Offers

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