Commercial Underwriter- Healthcare/ Sr Living Facilities

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.

About the role

We are growing and have an opportunity for a Commercial Underwriter III in the Specialty Healthcare Senior and Assisted Living segmentation. This role has the primary responsibility of structuring and underwriting healthcare lending opportunities balancing risk and growth ensuring loan structures are appropriate and consistent with bank lending standards, assigning an appropriate asset quality rating in a fast-paced, high-volume environment completing a detailed financial analysis to obtain a deeper understanding of an application’s credit risk. A Commercial Underwriter will collaborate with Relationship Managers (“RM”), internal support staff, and others to provide credit expertise to underwrite and monitor the portfolio. We are an in-office culture. You could be based in any of the following locations: Chicago (8750 W Bryn Mawr Avenue, close to Rosemont and the Blue Line Cumberland station), Buffalo Grove IL, 10635 Ewing Ave Chicago, Gurnee IL, Sycamore IL, Palos Heights IL, Deerfield IL, Nashville Gulch TN, Evansville IN, Beachwood OH, and Minneapolis/St. Paul, MN.

Responsibilities

• Structure and underwrite loans focusing primarily on senior housing, hospitals, and ancillary medical services.
• Underwrite new credit requests, renewals, and modifications focusing on appropriate due diligence, risk assessment, and asset quality ratings (AQR).
• Meet quality standards as outlined in ONB underwriting guidelines and policy.
• Produce high-quality and accurate analysis while maintaining efficiency in a fast-paced, high-volume environment, juggling multiple requests while adhering to client-driven response timelines.
• Partner with respective Relationship Managers to 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.
• Develop and enhance knowledge of assigned segmentation and portfolio by leveraging internal and external resources and expertise.
• Collaborate with associates on revenue-generating sales teams, support teams, and others in Credit to ensure a collaborative, team-oriented, and empowered environment.
• Monitor the credit portfolio to maintain strong asset quality; review quarterly 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 cash flows and monitor key metrics to present quarterly to ONB’s executive team and internal reviewers as part of the Healthcare Portfolio Review meetings.

Requirements

• Demonstrate at least 3-7 years’ progressive experience within Commercial Credit; healthcare underwriting experience required, with senior and assisted living facilities preferred.
• Bachelor’s degree in finance, accounting, or related field.
• Demonstrated ability to independently (with limited oversight) understand, analyze, and interpret financial statements.
• Demonstrated ability to independently (with limited oversight) build out cash flows to determine borrower’s overall ability to repay debt.
• Understands and takes appropriate action related to risks associated with lending to healthcare borrowers.
• Basic knowledge of loan structuring, borrowing causes, and lending regulations; ability to comply with and conform to ONB lending policies, guidelines, and standards.
• Proficient in Excel and a firm understanding of key bank underwriting metrics.
• Ability to make sound independent decisions and communicate those decisions clearly and effectively to internal/external clients quickly in a high-volume, fast-paced environment.
• Ability to actively listen, quickly identify issues and opportunities, and problem-solve in real-time to move work forward.
• Comfortable working in a collaborative team environment while also being an independent thinker.

Skills

• Cultural Leadership:
  • Communication: Effectively shares information and ideas with individuals and groups; displays organization and self-management, tailors 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.
  • 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.
  • Problem Solving/Decision Making: With minimal oversight, identifies 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 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; continuously learns 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:
  • Puts the 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.

Pay

The salary range for this position is $61,200–$165,100 per year plus incentive compensation. Final compensation will be determined by location, skills, experience, qualifications, and the level at which the position is filled.

Benefits

• Medical, dental, and vision insurance.
• 401K retirement plan.
• Continuing education opportunities.
• Employee assistance program.
• Impact Network Groups led by team members passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.