Underwriter IV - Business Credit/Technology Finance

PNC Bank•San Francisco, CA

1d•Remote

About The Position

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. This role works independently with little or no oversight and exercises exception and elevated approval authority. The Underwriter IV prepares offerings for all types of transactions at any level of complexity or in management of a portfolio as assigned. They interact with internal/external customers, provide recommendations for credit structuring, and serve as a subject matter expert for certain asset classes. Additionally, they serve as a coach, work lead, and trainer for the group. Using independent judgment to identify risks and mitigants, they prepare offerings and/or scorecards, such as risk ratings, by analyzing credit, collateral strength, and financial worthiness of loan/transaction parties. If relevant, they perform ongoing credit risk management for assigned portfolios, coach and/or review the work of other underwriters, and fill in for managers as required. They contact internal/external customers and other parties as appropriate to gather information and clarify inconsistent, incorrect, or missing information. May perform relevant pre-approval and post-approval activities and identify and/or confirm all external regulatory requirements. Ensures internal policies/procedures are followed and makes recommendations on credit decisions or makes credit decisions directly, as appropriate.

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.
Experience underwriting software, technology, or recurring-revenue businesses.
Understanding of private equity ownership structures and leveraged capital markets.
Strong credit writing and transaction execution skills.
Bachelors degree.
Customer Focused - Knowledgeable of the values and practices that align customer needs and satisfaction as primary considerations in all business decisions and able to leverage that information in creating customized customer solutions.
Managing Risk - Assessing and effectively managing all of the risks associated with their business objectives and activities to ensure they adhere to and support PNC's Enterprise Risk Management Framework.
Credit Decisions, Decision Making, Financial Analysis, Identifying Risks, Process Improvements, Results-Oriented, Risk Assessments
Accuracy and Attention to Detail, Coaching Others, Credit Analysis and Verification, Decision Making and Critical Thinking, Effective Communications, Financial Analysis, Knowledge of Underwriting, Managing Multiple Priorities, Office Support Tools, Operational Functions
In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.

Nice To Haves

This position may be eligible for remote work in select geographic locations, subject to approval by PNC. If approved, work must be conducted from a quiet, secure, and confidential home-based workspace. Occasional in-office participation may be required based on business needs.

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.
Prepare offerings for all types of transactions at any level of complexity or in management of a portfolio as assigned.
Interact with internal/external customers.
Provide recommendations for credit structuring.
Serve as subject matter expert for certain asset classes.
Serve 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.