Underwriter IV - Business Credit/Technology Finance

PNC•Boston, MA

6d•$91,000 - $202,800•Remote

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 IV within PNC's Business Credit/Technology Finance organization, you will be based remotely in Boston, MA, Charlotte, NC, New York, NY, Raleigh, NC Pasadena, CA, San Francisco, CA or within PNC's footprint. The Underwriter IV is responsible for underwriting and structuring credit facilities for sponsor-backed and non-sponsored software and technology companies; conducting independent financial, industry, and transaction analysis; evaluating enterprise value, leverage, cash flow generation, and sponsor support; and preparing credit recommendations for approval authorities.

Requirements

5+ years of commercial, corporate, leveraged finance, sponsor finance, technology banking, or middle-market underwriting experience.
Strong knowledge of cash-flow lending and leveraged transactions.
Understanding of private equity ownership structures and leveraged capital markets.
Bachelors degree (or comparable combination of education, job specific certification(s), and experience including military service).
Demonstrate appropriate knowledge, skills, and abilities for a role.
Credit Analysis and Verification
Financial Analysis
Knowledge of Underwriting

Nice To Haves

Experience underwriting software, technology, or recurring-revenue businesses.
Strong credit writing and transaction execution skills.
Credit Decisions
Decision Making
Identifying Risks
Process Improvements
Results-Oriented
Risk Assessments
Accuracy and Attention to Detail
Coaching Others
Decision Making and Critical Thinking
Effective Communications
Managing Multiple Priorities
Office Support Tools
Operational Functions

Responsibilities

Underwrite acquisition financings, recapitalizations, refinancings, and growth capital transactions.
Analyze historical and projected financial performance, operating trends, liquidity, leverage, and debt service capacity.
Evaluate SaaS-specific metrics, including ARR, net revenue retention, customer concentration, churn, and recurring revenue quality.
Assess private equity sponsor quality, investment thesis, value-creation plans, and financial support capacity.
Develop transaction structures including leverage levels, covenant packages, pricing, collateral, and other risk mitigants.
Prepare comprehensive credit approval memoranda and present recommendations to approval authorities.
Perform industry, management, and competitive-position analysis.
Partner with bankers, sponsors, legal counsel, and credit officers throughout transaction execution.
Review legal documentation for consistency with approved credit terms.
Identify key transaction risks and recommend appropriate mitigants.
Works independently with little or no oversight.
Exercises exception and elevated approval authority.
Prepares 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.
Serves as a coach, work lead and trainer for the group.
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.
Coaches and/or reviews the work of other underwriters and fills 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
9 occasional absence days each year, unless otherwise required by law
between 15 to 25 vacation days each year, depending on career level; and years of service