Commercial Underwriter

Commercial Underwriter/Specialty Finance for Leasing, Sponsor and ESOP

Job Locations US-IL-Chicago Category/Function Lending/Commercial/Consumer/Credit Position Type Regular Full-Time Requisition ID 2026-19703 Workplace Type On Site

Overview

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.

We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization. We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

Responsibilities

We are currently seeking a Commercial Underwriter for our Specialty Credit Group. This position will primarily cover our portfolio of leasing clients but will also support our ESOP and Sponsor Finance portfolios. Primary responsibility is extensive financial analysis, projection modeling, underwriting lending opportunities, balancing risk and growth ensuring loan structures are appropriate and consistent with bank lending standards. You will assign an appropriate asset quality rating, completing a detailed financial analysis to obtain a deeper understanding of an application's credit risk. Collaborate with Relationship Managers, and internal support staff to provide credit expertise to underwrite and monitor your assigned portfolio of accounts and report on quarterly.

Salary Range

The salary range for this position is $81,700.00/Yr. - $165,100.00/Yr.. The base salary indicated for this position 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 a number of factors, including the specific responsibilities of the position, the candidate's relevant skills and professional experience, educational qualifications, and geographic location.

We are an in-office working environment with the preferred location in Chicago (close to Rosemont and the Cumberland stop of the Blue line).

Key Accountabilities

Underwrite Loans

Underwrite renewals and new credit requests focusing on appropriate due diligence, analysis of repayment ability, risk assessment and asset quality ratings (AQR)
• Meet quality standards and underwriting guidelines as outlined in ONB loan standards and audited by third parties, including Loan Review, OCC, Internal Audit
• Meet or exceed productivity expectations for annual credit approval memorandum (CAM) volume
• Make prudent credit recommendations balancing risk and growth.
• Produce a high quality and accurate analysis while also not sacrificing efficiency in a fast-paced, high-volume environment juggling multiple requests while adhering to client driven response timelines.

Partner with respective Relationship Managers as well as Treasury Management Partners

• 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.
• Deliver exceptional internal customer service and adopt new processes and new tools, as available.
• Develop and enhance knowledge of assigned segmentation and portfolio by leveraging internal and external resources and expertise
• Partner well with associates on revenue generating sales team, support teams and others in Credit to ensure a collaborative, team, and empowered environment

Monitor Portfolio

• Accurately assign asset quality ratings (AQR)
• Work with assigned Relationship Managers to monitor the credit portfolio to maintain strong asset quality; review 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.
• Quarterly Special Asset Reports will need to be prepared on all adversely risk rated credits to include upgrade and downgrade triggers as well as detailed Action Plans coordinated with the Relationship Managers and Senior Credit Officer.
• Prepare quarterly portfolio review reports
• Commercial Underwriters may monitor overlines and Treasury Management/ACH risk reports or other trends, as appropriate

Key Competencies for Position

Cultural Leadership:

• Communication - effectively shares information and ideas with individuals and groups; displays self-awareness and self-management, tailors the 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.

Execution Leadership:

• 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; consistently achieves performance targets.
• Problem Solving/Decision Making - with minimal oversight, seeks to identify 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 in order to deal effectively with changing business needs, conditions, work responsibilities and requirements, 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; continuous learning 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:

• Client Leadership - Puts the (internal and/or external) 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

Qualifications and Education Requirements

• 5-7 years of progressive experience within Commercial Credit is required with each incremental level of responsibility.
• Knowledge of lease warehouse lending is required with knowledge of ESOP lending and Enterprise Value lending preferred.
• Understands and takes appropriate action related to risks associated with lending to various types of industries.
• Thorough understanding of risk management and credit mitigants
• Skilled with loan structuring and loan documentation, borrowing causes and lending regulations; ability to comply and conform to ONB lending policies, guidelines and standards
• Experience in reviewing complex financial statements and loan documentation
• Strong analytical and financial modeling abilities
• Must be able to make sound independent decisions and communicate those decisions clearly and effectively to the internal/external client quickly given the high volume, fast-paced environment
• Exceptional verbal and written communication skills
• Must be able to actively listen, quickly identify issues as well as opportunities when they arise, and problem solve in real-time to move the work accordingly
• Must feel comfortable working in a collaborative team environment along with being an independent thinker.
• Bachelor's degree in finance, accounting or equivalent experience required, MBA preferred.