Underwriter III- Multifamily Capital

PNC • Cincinnati, OH

114d • $55,000 - $144,000

About The Position

At PNC, our people are our greatest differentiator and competitive advantage in the markets we serve. We are all united in delivering the best experience for our customers. We work together each day to foster an inclusive workplace culture where all of our employees feel respected, valued and have an opportunity to contribute to the company's success. As an Underwriter III - Multifamily Capital within PNC's Commercial Real Estate Group, you will ideally be based in Cincinnati, Ohio or Pittsburgh, Pennsylvania and work hybrid, 3 days in the office and 2 remotely. Open to candidates located in other PNC locations with offices within the PNC footprint.

Requirements

• 3+ years of real estate underwriting experience.
• Experience with senior housing and multifamily underwriting is a plus.
• Experience with bridge and/or construction loans is a plus.
• Ability to effectively utilize Closer and Capitalstream is a plus.
• Knowledge of IRS Code Section 42 and 47, equity structures and documentation, market research (including onsite inspections and market comp analysis), and 3rd party or external guidelines.

Nice To Haves

• Client Communication
• Credit Decisions
• Decision Making
• Detail-Oriented
• Financial Analysis
• Flexible Mindset
• Identifying Risks
• Process Improvements
• Results-Oriented
• Risk Assessments
• Writing Competencies
• Accuracy and Attention to Detail
• Coaching Others
• Credit Analysis and Verification
• Decision Making and Critical Thinking
• Knowledge of Underwriting
• Managing Multiple Priorities
• Market Research
• Real Estate Development
• Real Estate Practice
• Real Estate Property Data Analysis
• Real Estate Sales Closings and Agreements
• Regulatory Environment - Financial Services

Responsibilities

• Works independently with little or no oversight.
• Exercises some exception and elevated approval authority.
• Prepares loan offerings for all types of transactions at any level of complexity or in management of a portfolio as assigned.
• Interacts with internal/external customers.
• Provides recommendations for credit structuring.
• Serves as subject matter expert for certain asset classes.
• Using independent judgment to identify risks and mitigants, prepares offerings and/or scorecards, such as risk ratings, by analyzing credit, collateral strength and financial worthiness of loan/transaction parties.
• If relevant, performs ongoing credit risk management for assigned portfolio.
• May coach and/or review the work of other underwriters and fill in for manager as required.
• Contacts internal/external customers and other parties as appropriate to gather information and to clarify inconsistent, incorrect or missing information.
• May perform relevant pre-approval and post-approval activities.
• Identifies and/or confirms all external regulatory requirements.
• Ensures internal policies/procedures are followed.
• Makes recommendations on credit decisions or makes credit decisions directly, as appropriate.

Benefits

• Medical/prescription drug coverage (with a Health Savings Account feature)
• Dental and vision options
• Employee and spouse/child life insurance
• Short and long-term disability protection
• 401(k) with PNC match
• Pension and stock purchase plans
• Dependent care reimbursement account
• Back-up child/elder care
• Adoption, surrogacy, and doula reimbursement
• Educational assistance, including select programs fully paid
• A robust wellness program with financial incentives
• Maternity and/or parental leave
• Up to 11 paid holidays each year
• 8 occasional absence days each year
• Between 15 to 25 vacation days each year, depending on career level and years of service

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree