Commercial Credit Underwriter, III

WHO ARE WE: Alerus is a commercial wealth bank and national retirement provider with one core purpose: helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company. By consistently seeking improvements and growth, we foster long-term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.

CORE VALUES: Passion for Excellence :: Success is Never Final :: Do the Right Thing :: One Alerus

ABOUT THE ROLE:
The Commercial Credit Underwriter, III is accountable for underwriting and monitoring a portfolio of complex, large commercial and industrial (C&I) loans ranging in size from $1,000,000 to $25,000,000+. Assigned portfolio may also include Owner Occupied and/or small investor Commercial Real Estate loans. Will 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 of 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 industries, clients, or Alerus C&I portfolios. Performs all duties in accordance with policies, procedures, and regulatory requirements.

WHAT YOU’LL BE DOING:

• Credit Analysis/ Propose Lending Solutions and Underwrite Credit Risk
  • Supports the loan decision-making process by providing quality, in-depth credit analysis for complex C&I as well as owner occupied and/or small commercial real estate loans.
  • Develops comprehensive understanding of customer financial needs and project feasibility. Recommends a plan of action while working collaboratively with RMs for loan structure, monitoring, and servicing of loan relationship.
  • Performs financial analysis including forecasting and sensitivity analysis to assist in determining borrower capacity to repay debt.
  • Writes professional credit narratives and performs advanced risk assessments of products, policy, structure, terms, and customer/sponsor financial strength with minimal guidance/feedback.
  • Independently grades all credits in accordance with Bank’s credit classification system.
  • Strong financial and accounting background. Experienced with applicable regulatory requirements.
  • Attend Loan Committee and support Relationship Managers in addressing questions on submitted requests.
• Portfolio Management
  • Work with Relationship Managers and Commercial Banking Associates to obtain relationship monitoring information necessary to perform quarterly trend analysis, annual reviews/renewals, and/or monitor covenant compliance.
  • Complete quarterly/annual reviews and renewals within required timeframes.
  • Responsible for independent ongoing proactive identification and monitoring of risk ratings for borrower in accordance with Bank’s credit classification system.
  • Maintain comprehensive 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.

WHAT YOU SHOULD HAVE:

• Bachelor's degree or equivalent education, including upper-level courses in finance and accounting.
• Minimum of five to eight years of experience in a previous commercial underwriter position.
• Minimum of four plus years of experience working with large, complex commercial and Industrial loans.
• In-depth knowledge of advanced loan documentation, banking laws, and regulations preferred, but not required.
• Advanced problem-solving ability.
• Advanced professional customer service skills.
• Exemplary written and oral communication skills.
• Compelling negotiation and interpersonal relationship skills.
• Self-starter with established ability to work effectively with minimal day-to-day supervision.
• Self-assured.
• Strong analytical skills.
• Team player.

WHAT WE BRING TO THE TABLE:

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• Comp