Commercial Underwriter at Old National Bank

Chicago, Illinois, United States -

Full Time

Start Date

Immediate

Expiry Date

29 May, 26

Salary

165100.0

Posted On

28 Feb, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Financial Analysis, Projection Modeling, Underwriting, Risk Assessment, Loan Structuring, Asset Quality Rating, Credit Risk, Portfolio Monitoring, Due Diligence, Communication, Collaboration, Problem Solving, Decision Making, Adaptability, Loan Documentation, Compliance

Industry

Banking

Description

Overview Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving. We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization. We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values. Responsibilities Salary Range The salary range for this position is $81,700/yr. - $165,100/yr.. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate’s relevant skills and professional experience, educational qualifications, and geographic location. We are currently seeking a Commercial Underwriter for our Capital Markets and Mid-Corporate Leverage Finance teams. Primary responsibility is extensive financial analysis, projection modeling, underwriting lending opportunities, balancing risk and growth ensuring loan structures are appropriate and consistent with bank lending standards. You will assign an appropriate asset quality rating, completing a detailed financial analysis to obtain a deeper understanding of an application’s credit risk. Collaborate with Relationship Managers, and internal support staff to provide credit expertise to underwrite and monitor your assigned portfolio of accounts and report on quarterly. We are an in-office working environment with offices for this role at 8750 W. Bryn Mawr, Chicago (close to Rosemont and the Cumberland stop of the Blue line).Key Accountabilities Underwrite Loans • Underwrite renewals and new credit requests focusing on appropriate due diligence, risk assessment and asset quality ratings (AQR)• Meet quality standards as outlined in ONB underwriting guidelines and policy; evaluation by Loan Review, OCC, and/or others may identify unacceptable underwriting or inaccurate asset quality ratings (AQR)• Meet or exceed productivity expectations for annual credit approval memorandum (CAM) volume • Make prudent credit decisions balancing risk and growth.• Produce high quality and accurate analysis while also not sacrificing efficiency in a fast-paced, high-volume environment juggling multiple requests while adhering to client driven response timelines.Partner with respective Relationship Managers as well as Treasury Management Partners• Provide credit expertise using a consultative approach; assist in structuring loans applying proficient knowledge, understanding, and application of ONB guidelines/standards/policies, risk assessment and analysis; effectively communicate risks, questions, and options to RM seeking win-win solutions. • Deliver exceptional internal customer service and adopt new processes and new tools, as available. • Develop and enhance knowledge of assigned segmentation and portfolio by leveraging internal and external resources and expertise• Partner well with associates on revenue generating sales team, support teams and others in Credit to ensure a collaborative, team, and empowered environment Monitor Portfolio • Accurately assign asset quality ratings (AQR) • Work with assigned Relationship Managers to monitor the credit portfolio to maintain strong asset quality; review trend analysis reports, address default situations, delinquencies, review maturing notes, receipt of financial information, review covenant default and Borrowing Base Certificate (BBC) reports and other reports as appropriate. • Prepare credit data in Special Assets Assessment and Action Summary (SAAAS) and Upgrade Hurdles, as necessary, working with assigned Relationship Managers.• Quarterly Special Asset Reports will need to be prepared on all adversely risk rated credits to include upgrade and downgrade triggers as well as detailed Action Plans coordinated with the Relationship Managers and Senior Credit Officer.• Commercial Underwriters may monitor overlines and Treasury Management/ACH risk reports or other trends, as appropriate Key Competencies for PositionCultural Leadership:• Communication – effectively shares information and ideas with individuals and groups; displays self-awareness and self-management, tailors the delivery to the audience, and selects suitable delivery methods.• Collaboration – actively seeks, develops and maintains trusted relationships with others to achieve business goals and objectives.Execution Leadership:• Drive and Execution - committed to achieving established goals, overcoming obstacles, and continuously learning; focuses on ways to succeed by changing strategies, increasing effort, using varying approaches; seeks and leverages opportunities to collaborate with others to achieve results; consistently achieves performance targets.• Problem Solving/Decision Making – with minimal oversight, seeks to identify what caused an issue; incorporates input from multiple sources (e.g., lines of business, subject matter experts, data, policies, procedures, etc.) to ensure effective action and shared ownership; decisions are sound based on what was known at the time and are based on a blend of analysis, wisdom, experience, and judgement. • Adaptability – flexible and agile (can be a utility player); modifies behavior and approach to deal effectively with changing business needs, conditions, work responsibilities and requirements, and client needs; maintains effectiveness when experiencing change; accepts new challenges/shifts/change in a "can-do" way; focuses on the beneficial aspects of change• Technical Knowledge – possesses the required technical knowledge to perform the role effectively; continuous learning to adopt new trends or expertise; applies credit and banking expertise, industry knowledge, skills and abilities to demonstrate and sustain a depth and breadth of applicable technical underwriting knowledge Client Leadership:• Client Leadership - Puts the (internal and/or external) client in the forefront; strives to delight clients/partners by becoming a trusted advisor, establishes long-term productive relationships by viewing and understanding outcomes and operations through the eyes of the client, identifying and acting upon needs, and delivering increased value Qualifications and Education Requirements• 5-7 years of progressive experience within Commercial Credit is required with each incremental level of responsibility.• Knowledge of Enterprise Value lending is required.• 5-7 years within Capital Markets or Mid Corporate Leverage Finance.• Understands and takes appropriate action related to risks associated with lending to various types of industries.• Skilled with loan structuring and loan documentation, borrowing causes and lending regulations; ability to comply and conform to ONB lending policies, guidelines and standards • Must be able to make sound independent decisions and communicate those decisions clearly and effectively to the internal/external client quickly given the high volume, fast-paced environment• Must be able to actively listen, quickly identify issues as well as opportunities when they arise, and problem solve in real-time to move the work accordingly• Must feel comfortable working in a collaborative team environment along with being an independent thinker.• Bachelor’s degree in finance, accounting or equivalent experience required, MBA preferred. Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles. As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law. We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, SVP, to fill a specific position.Our culture is firmly rooted in our core values.We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical.We are Old National Bank. Join our team

Responsibilities

The primary responsibility involves extensive financial analysis, projection modeling, and underwriting lending opportunities to ensure loan structures align with bank standards, while also assigning appropriate asset quality ratings based on credit risk assessment. This role requires collaboration with Relationship Managers to underwrite and monitor an assigned portfolio of accounts quarterly.