Sr. Commercial Underwriter
CRE Lending Underwriter, Sr.
Job Category: Lending
Accountable for underwriting and monitoring a portfolio of complex, large commercial real estate loans ranging in size from $1,000,000 to $25,000,000. Partner with Relationship Managers to propose and negotiate lending solutions on new opportunities and underwrite credit risk. Responsible for determining the credit worthiness of borrowers and/or sponsors and recommending credit decisions. Monitors assigned portfolio credit relationships for covenant compliance, collateral monitoring, and credit deterioration, as applicable. Keeps apprised of industry related issues to analyze and determine their impact on specific asset classes, clients, or the Bank’s CRE portfolios. Performs all duties in accordance with the Bank’s policies, procedures, and regulatory requirements.
Job Function 1: Propose Lending Solutions and Underwrite Credit Risk – 60%
- Supports the loan decision-making process by providing quality, in-depth credit analysis for complex commercial real estate loans.
- Develops comprehensive understanding of customer financial needs and project feasibility. Recommends a plan of action for loan structure, monitoring, and servicing of loan relationship.
- Performs CRE financial analysis including forecasting and sensitivity analysis to assist in determining borrower capacity to repay debt.
- Writes credit narratives and performs risk assessments of products, policy, structure, terms, and customer/sponsor financial strength.
- Independently grades all credits in accordance with Bank’s credit classification system.
- Strong understanding of appraisal and environmental reports and requirements.
- Attend Loan Committee and support Relationship Manager in addressing questions on submitted requests.
Job Function 2: Portfolio Monitoring and Management – 35%
- Work with Relationship Managers and Commercial Banking Associates to obtain information necessary to perform quarterly trend analysis, annual reviews, and/or monitor covenant compliance.
- Complete quarterly/annual reviews and renewals within required timeframes.
- Responsible for ongoing proactive identification and monitoring of risk ratings for borrowers.
- Maintain industry knowledge.
- Ensures compliance with all applicable regulations, policies, and procedures. Completes required bank training courses on time.
- Maintains relationships with clients in conjunction with Relationship Managers and may make joint customer calls with RM to assess client needs, business and management team.
Job Function 3: Department Support and Teamwork – 5%
- Participate in team meetings by sharing knowledge, providing insight, contributions, and feedback.
- Be a resource for other Alerus team members.
- Participate in sales, pipeline, and production meetings as requested.
- Serve on specific project teams and perform other duties as directed.
- Bachelor’s degree or equivalent education, including upper-level courses in finance and accounting.
- In-depth knowledge of advanced Commercial Real Estate loan documentation, banking laws, and regulations preferred.
- Minimum of three years experience working with large, complex commercial real estate loans
- Minimum of five years experience in a previous commercial underwriter position.
- Strong problem solving ability.
- Professional customer service skills.
- Strong written and oral communication skills.
- Strong negotiation and interpersonal relationship skills.
- Self-starter with established ability to work effectively with minimal day-to-day supervision.
- Good analytical skills.
- Team player.
Physical Demands – Must be met with or without a reasonable accommodation:
- Spend extended periods of time sitting at a desk and using office equipment.
- Extended time is spent reviewing documents, both physical and electronic.
- Ability to operate a personal computer/laptop for approximately 8 hours per day.
- The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
- Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
- Will spend most of time in an indoor environment.