Position Overview

At PNC, our people are our greatest differentiator and competitive advantage in the markets we serve. We are all united in delivering the best experience for our customers. We work together each day to foster an inclusive workplace culture where all of our employees feel respected, valued and have an opportunity to contribute to the company’s success. As an Underwriter IV within PNC's Business Credit/Technology Finance organization, you will be based remotely in Boston, MA, Charlotte, NC, New York, NY, Raleigh, NC Pasadena, CA, San Francisco, CA or within PNC's footprint.

The Underwriter IV is responsible for underwriting and structuring credit facilities for sponsor-backed and non-sponsored software and technology companies; conducting independent financial, industry, and transaction analysis; evaluating enterprise value, leverage, cash flow generation, and sponsor support; and preparing credit recommendations for approval authorities.

Key Responsibilities
• Underwrite acquisition financings, recapitalizations, refinancings, and growth capital transactions.
• Analyze historical and projected financial performance, operating trends, liquidity, leverage, and debt service capacity.
• Evaluate SaaS-specific metrics, including ARR, net revenue retention, customer concentration, churn, and recurring revenue quality.
• Assess private equity sponsor quality, investment thesis, value-creation plans, and financial support capacity.
• Develop transaction structures including leverage levels, covenant packages, pricing, collateral, and other risk mitigants.
• Prepare comprehensive credit approval memoranda and present recommendations to approval authorities.
• Perform industry, management, and competitive-position analysis.
• Partner with bankers, sponsors, legal counsel, and credit officers throughout transaction execution.
• Review legal documentation for consistency with approved credit terms.
• Identify key transaction risks and recommend appropriate mitigants.

Preferred Experience
• 5+ years of commercial, corporate, leveraged finance, sponsor finance, technology banking, or middle-market underwriting experience.
• Strong knowledge of cash-flow lending and leveraged transactions.
• Experience underwriting software, technology, or recurring-revenue businesses.
• Understanding of private equity ownership structures and leveraged capital markets.
• Strong credit writing and transaction execution skills.

 

This position may be eligible for remote work in select geographic locations, subject to approval by PNC. If approved, work must be conducted from a quiet, secure, and confidential home-based workspace. Occasional in-office participation may be required based on business needs.

PNC will not provide sponsorship for employment visas or participate in STEM OPT for this position.

Job Description

• Works independently with little or no oversight. Exercises exception and elevated approval authority. Prepares offerings for all types of transactions at any level of complexity or in management of a portfolio as assigned. Interacts with internal/external customers. Provides recommendations for credit structuring. Serves as subject matter expert for certain asset classes. Serves as a coach, work lead and trainer for the group.
• Using independent judgment to identify risks and mitigants, prepares offerings and/or scorecards, such as risk ratings, by analyzing credit, collateral strength and financial worthiness of loan/transaction parties. If relevant, performs ongoing credit risk management for assigned portfolio. Coaches and/or reviews the work of other underwriters and fills in for manager as required.
• Contacts internal/external customers and other parties as appropriate to gather information and to clarify inconsistent, incorrect or missing information. May perform relevant pre-approval and post-approval activities.
• Identifies and/or confirms all external regulatory requirements. Ensures internal policies/procedures are followed.
• Makes recommendations on credit decisions or makes credit decisions directly, as appropriate.

PNC Employees take pride in our reputation and to continue building upon that we expect our employees to be:

• Customer Focused - Knowledgeable of the values and practices that align customer needs and satisfaction as primary considerations in all business decisions and able to leverage that information in creating customized customer solutions.
• Managing Risk - Assessing and effectivel