Underwriter III- Real Estate Banking

PNC•Washington, DC

5d•$67,500 - $172,500•Onsite

About The Position

The Entity Finance Underwriter performs comprehensive credit underwriting and portfolio management for complex entity-level real estate transactions, including private and institutional real estate funds, homebuilders, real estate operating companies (REOCs), and subscription or capital call facilities. The role applies advanced financial, structural, and risk analysis to assess borrower creditworthiness and repayment capacity, and to structure transactions in alignment with internal credit policy, regulatory expectations, and market standards. The Underwriter works independently with little or no oversight, exercises some exception and elevated approval authority, prepares loan offerings for transactions of any level of complexity, and manages assigned portfolios. The role interacts with internal and external customers, recommends credit structures, and serves as a subject matter expert for certain asset classes. It may include ongoing credit risk management, coaching or reviewing other underwriters’ work, and filling in for a manager as required. The position is based in a PNC location; PNC describes itself as an in-office company. The position is not eligible for employment visa sponsorship or STEM OPT participation.

Requirements

Bachelor’s degree; a comparable combination of education, job-specific certifications, and experience, including military service, may be considered in lieu of a degree.
At least 3 years of relevant or direct industry experience is typical for roles at this level.
Knowledge of IRS Code Sections 42 and 47, equity structures and documentation, market research (including onsite inspections and market comp analysis), and third-party or external guidelines.
Skills and competencies include accuracy and attention to detail, coaching others, credit analysis and verification, decision making and critical thinking, underwriting knowledge, managing multiple priorities, market research, real estate development and practice, real estate property data analysis, real estate sales closings and agreements, and knowledge of the financial-services regulatory environment.
Demonstrated customer focus and ability to assess and manage risks in accordance with PNC’s Enterprise Risk Management Framework.
No required certifications or licenses.
No required or preferred language assessments.

Nice To Haves

Certifications are often desired.
Preferred skills include credit decisions, decision making, financial analysis, identifying risks, process improvements, results orientation, and risk assessments.

Responsibilities

Analyze credit, collateral strength, and the financial standing of loan or transaction parties to identify risks and mitigants.
Prepare loan offerings and scorecards, including risk ratings, using independent judgment.
Analyze detailed financial information and projections.
Assess structural features, including covenants, borrowing bases, and advance rates.
For subscription facilities, assess investor eligibility and concentration limits.
Assign and justify internal risk ratings, such as PD/LGD, and ensure consistency with policy and underwriting guidelines.
Recommend deal structure, sizing, and terms to optimize risk-adjusted returns.
Provide recommendations on credit structuring and credit decisions, or make credit decisions directly when appropriate.
Manage ongoing credit risk for an assigned portfolio when relevant.
Contact internal and external customers and other parties to gather information and clarify inconsistent, incorrect, or missing information.
Perform relevant pre-approval and post-approval activities.
Identify or confirm external regulatory requirements and ensure internal policies and procedures are followed.
Use knowledge of IRS Code Sections 42 and 47, equity structures and documentation, market research (including onsite inspections and market comp analysis), and third-party or external guidelines.
Coach or review the work of other underwriters and fill in for a manager as required.

Benefits

Medical and 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 plan
Stock purchase plan
Dependent care reimbursement account
Back-up child and elder care
Adoption, surrogacy, and doula reimbursement
Educational assistance, including select fully paid programs
Wellness program with financial incentives
Maternity and/or parental leave
Up to 11 paid holidays each year
9 occasional absence days each year, unless otherwise required by law
15 to 25 vacation days each year, depending on career level and years of service
Incentive-eligible compensation based on company, business, and/or individual performance