Commercial Underwriter I

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 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 an appropriate asset quality rating in a fast-paced, high-volume environment, completing detailed financial analysis to assess credit risk, and collaborating with Relationship Managers (RM), internal support staff, and others to provide credit expertise. We are an in-office culture with locations in Chicago, Palos Heights, IL, Deerfield, IL, Evansville, IN, and Minneapolis/St. Paul, MN.

Responsibilities

• Structure and underwrite loans, focusing primarily on senior housing, hospitals, and ancillary medical services.
• Perform portfolio management, credit analysis, financial spreading, covenant testing, and underwriting for 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 Relationship Managers to provide credit expertise using a consultative approach, assist in structuring loans, and apply 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 revenue-generating sales teams, support teams, and Credit associates to foster a team-oriented and empowered environment.
• Monitor the credit portfolio to maintain strong asset quality by reviewing quarterly trend analysis reports, addressing defaults, delinquencies, maturing notes, financial information, covenant defaults, and Borrowing Base Certificate (BBC) reports.
• Prepare cash flows and monitor key metrics to present quarterly during Healthcare Portfolio Review meetings with ONB’s executive team and internal reviewers.

Requirements

• Demonstrate at least 2-7 years of progressive experience within Commercial Credit, with each incremental level of responsibility.
• Healthcare underwriting experience with 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.
• Understanding of risks associated with lending to healthcare borrowers and ability to 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, and problem-solve in real-time.
• 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 to achieve business goals and objectives.
  • Drive and Execution: Committed to achieving established goals, overcoming obstacles, and continuously learning; focuses on success by adapting strategies, increasing effort, and leveraging collaboration.
  • Problem Solving/Decision Making: Identifies root causes of issues with minimal oversight; 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 and breadth of applicable technical underwriting knowledge.
• Client Leadership: Puts the client first; 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/yr. - $130,680/yr. The base salary 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 factors such as the specific responsibilities of the position, the candidate’s relevant skills and professional experience, educational qualifications, and geographic location.

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 passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.