Commercial Underwriter- Healthcare/ Sr Living Facilities

About the Role

Old National Bank, a regional powerhouse with over $70 billion in total assets, is seeking a Commercial Underwriter III specializing in the Specialty Healthcare Senior and Assisted Living segmentation. This role focuses on structuring and underwriting healthcare lending opportunities, balancing risk and growth while ensuring loan structures align with bank lending standards. The position operates in a fast-paced, high-volume environment and requires collaboration with Relationship Managers, internal support staff, and others to provide credit expertise.

This is an in-office role with potential locations in Chicago (Rosemont, 8750 W Bryn Mawr Avenue), Buffalo Grove IL, 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 adhering to client-driven response timelines.
• Partner with Relationship Managers to provide credit expertise using a consultative approach, assisting in structuring loans and communicating risks, questions, and options.
• Develop and enhance knowledge of assigned segmentation and portfolio by leveraging internal and external resources.
• Collaborate with revenue-generating sales teams, support teams, and Credit associates to foster a team-oriented environment.
• Monitor the credit portfolio to maintain strong asset quality, including reviewing quarterly trend analysis reports, addressing defaults, delinquencies, maturing notes, and covenant defaults.
• Prepare cash flows and monitor key metrics for quarterly Healthcare Portfolio Review meetings with ONB’s executive team and internal reviewers.

Requirements

• 3-7 years of progressive experience in Commercial Credit, with each incremental level demonstrating increased 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 assess a borrower’s ability to repay debt.
• Understanding of risks associated with lending to healthcare borrowers and knowledge of loan structuring, borrowing causes, and lending regulations.
• Proficiency in Excel and a firm understanding of key bank underwriting metrics.
• Ability to make sound, independent decisions and communicate them clearly and quickly in a high-volume, fast-paced environment.
• Strong active listening skills to identify issues and opportunities in real-time and problem-solve effectively.
• Comfort working in a collaborative team environment while also being an independent thinker.

Key Competencies

• Cultural Leadership:
  • Communication: Effectively shares information and ideas, tailoring delivery to the audience and selecting suitable methods.
  • Collaboration: Actively seeks, develops, and maintains trusted relationships to achieve business goals.
  • Drive and Execution: Committed to achieving goals, overcoming obstacles, and continuously learning; adapts strategies to succeed.
  • Problem Solving/Decision Making: Identifies root causes of issues with minimal oversight, incorporating input from multiple sources to ensure effective action.
  • Adaptability: Flexible and agile, modifying behavior and approach to deal with changing business needs and client requirements.
  • Technical Knowledge: Possesses and applies credit and banking expertise, industry knowledge, and underwriting skills to perform the role effectively.
• Client Leadership:
  • Puts the client first, striving to delight clients by becoming a trusted advisor and establishing long-term productive relationships.
  • Views and understands outcomes and operations through the client’s perspective to identify and act on needs.

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 through 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

• Competitive compensation with salary and incentive program.
• Medical, dental, and vision insurance.
• 401K retirement plan.
• Continuing education opportunities.
• Employee assistance program.
• Impact Network Groups led by team members to drive engagement, awareness of diverse backgrounds, and inclusion across the organization.