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 to ensure loan structures are appropriate and consistent with bank lending standards. The position involves assigning appropriate asset quality ratings in a fast-paced, high-volume environment while completing detailed financial analyses to assess credit risk. A Commercial Underwriter will collaborate with Relationship Managers (RM), internal support staff, and others to provide credit expertise for underwriting and monitoring the portfolio. This is an in-office role.

You could be based in any of the following locations: Chicago (8750 W Bryn Mawr Avenue, near 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, or 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, ensuring 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 efficiently in a fast-paced, high-volume environment while juggling multiple requests and adhering to client-driven response timelines.
• Partner with respective Relationship Managers to provide credit expertise using a consultative approach, assisting in structuring loans and applying proficient knowledge of ONB guidelines, risk assessment, and analysis.
• Effectively communicate risks, questions, and options to RMs, seeking win-win solutions.
• Develop and enhance knowledge of assigned segmentation and portfolio by leveraging internal and external resources.
• Collaborate with associates on the revenue-generating sales team, support teams, and others in Credit to ensure a team-oriented and empowered environment.
• Monitor the credit portfolio to maintain strong asset quality by reviewing quarterly trend analysis reports, addressing default situations, delinquencies, maturing notes, financial information, covenant defaults, and Borrowing Base Certificate (BBC) reports.
• 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 of progressive experience within Commercial Credit, with each incremental level of responsibility.
• Healthcare underwriting experience required; senior and assisted living facilities preferred.
• Bachelor’s degree in finance, accounting, or a related field.
• Demonstrated ability to independently analyze and interpret financial statements with limited oversight.
• Demonstrated ability to independently build cash flows to determine a borrower’s overall ability to repay debt.
• Understand risks associated with lending to healthcare borrowers and take appropriate action.
• 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 them clearly and effectively in a high-volume, fast-paced environment.
• Strong active listening skills to quickly identify issues and opportunities, problem-solving 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, and leveraging collaboration.
  • Problem Solving/Decision Making: With minimal oversight, identifies root causes of issues; incorporates input from multiple sources (e.g., lines of business, subject matter experts, data, policies) to ensure effective action and shared ownership. Decisions are sound, based on analysis, wisdom, experience, and judgment.
  • Adaptability: Flexible and agile; modifies behavior and approach to deal effectively with changing business needs, conditions, work responsibilities, and client needs. Maintains effectiveness during change and accepts new challenges with a "can-do" attitude.
• 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 of applicable 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 understanding outcomes and operations through the client’s perspective, identifying and acting on needs, and delivering increased value.

Key Measures of Success

• Meet or exceed CAM production expectations.
• Ensure acceptable quality and accuracy of work as assessed by loan review, OCC, and/or management.
• Maintain strong asset quality, demonstrating sound underwriting and credit monitoring.
• Contribute to the bank’s financial success by achieving targets for credit quality and supporting growth goals.

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.