Old National Bank has been serving clients and communities since 1834. With $48 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.
Our team members are our greatest asset, and we continually invest in their growth and development. We offer 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 are currently seeking a Special Assets Underwriter reporting to the Special Assets Director. Together, these individuals will serve the primary responsibility of underwriting, credit analysis and review, assignment of appropriate asset quality ratings in a fast-paced, high-volume environment, often with limited information, completing a detailed financial analysis to obtain a deeper understanding of the credit risk associated with the client. The Special Assets Underwriter will collaborate with Special Assets Officers and Special Assets Portfolio Manager to assure timely reporting on credits, including completion of analysis areas of Special Assets Reports (SAR), annual reviews, credit underwriting within the bank’s approval system, Asset Quality Rating changes, and verifications and ad-hoc analysis as required for decisions regarding problem loans in the bank’s portfolio. You will be responsible for support analysis in evaluating complex credits overseen by the Special Assets Portfolio Manager, in addition to direct analysis as needed.
Key Accountabilities
Provide Financial Analysis Support to SAR documents
- Provide financial statement spread and bank template underwriting tables as well as ad hoc analysis to properly evaluate and demonstrate risk to reader.
- Maintain a pipeline of work to assure reporting is completed in a timely manner to allow Special Assets Officers to complete the reports by established deadlines.
- Meet quality standards as outlined in ONB underwriting guidelines and policy; evaluation by Loan Review, OCC, and/or others may identify unacceptable underwriting or inaccurate asset quality ratings (AQR)
- 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, etc.
Partner with Special Assets Officers and Senior Portfolio Manager
- Provide credit expertise using a consultative approach; assist in structuring loan workouts applying proficient knowledge, understanding, and application of ONB guidelines/standards/policies, risk assessment and analysis; effectively communicate risks, questions, and options to Special Assets Officers seeking win-win solutions.
- Organize available information on borrower and obligor entities to assure a balanced and accurate presentation of risks and mitigants is presented within analysis and approvals.
- 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.
Monitor Portfolio
- Periodically review Asset Quality Ratings (AQRs) and recommend changes as needed to accurately reflect risk exposure of bank’s portfolio. Perform ad-hoc analysis of AQR as requested by Special Assets Officers in the light of new information or concerns.
- Work with assigned Special Assets Officers to monitor the credit portfolio to improve 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.
Underwrite and Decision Loans
- Underwrite and decision renewals and modification requests focusing on appropriate due diligence, risk assessment and asset quality ratings (AQR)
- Meet quality standards as outlined in ONB underwriting guidelines and policy; evaluation by Loan Review, OCC, and/or others may identify unacceptable underwriting or inaccurate asset quality ratings (AQR)
- Make prudent credit decisions balancing risk and growth; utilize assigned lending authority based on approval authority matrix to exercise granted authority confidently, independently via problem solving/sound decision making and with integrity.
Qualifications and Education Requirements
- Demonstrate progressive experience within Commercial Credit required with each incremental level of responsibility
- Demonstrated ability to independently (with limited oversight), understand, analyze and interpret commercial financial statements
- Understands and takes appropriate action related to risks associated with lending to various types of industries.
- Strong knowledge of commercial loan structuring, borrowing causes and lending regulations; ability to comply and conform to ONB lending policies, guidelines and standards
- Must be able to manage a varying workload and be flexible to accept new tasks and responsibilities with appropriate level of prioritization to complete needed tasks given the high volume, fast-paced environment
- 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.
- Credit authority level is determined by the Commercial and Corporate Credit Granting Authority Matrix
- Bachelor’s degree in finance, accounting or related field OR equivalent experience
We continually seek highly motivated and talented individuals. Our people are critical to our Company’s strategy and success. In return we offer competitive compensation with our salary, bonus program, day 1 effective, exceptional BC/BS medical, Delta dental, headspace mental health support and vision insurance, 401k Company “match" dollar for dollar (100%) of the first 5% contributed into the Plan. Continuing education and a unique opportunity with a growing, client-focused and collegial company.
Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles.
As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.
We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, to fill a specific position
Our culture is firmly rooted in our core values.
We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical.
We are Old National Bank. Join our team!
