Alerus
Overview
Alerus is a commercial wealth bank and national retirement provider focused on helping clients achieve their financial goals. We value integrity, collaboration, innovation, adaptability, and entrepreneurial spirit. We are recognized as a Top Workplace by various outlets. About the Role
The Commercial Credit Underwriter III underwrites and monitors a portfolio of complex, large commercial and industrial (C&I) loans ranging from $1,000,000 to $25,000,000. The portfolio may include Owner Occupied and/or investor Commercial Real Estate loans. You will partner with Business Advisors to propose and negotiate lending solutions on new opportunities and underwrite credit risk. You will determine the credit worthiness of borrowers and sponsors and recommend credit decisions. You will monitor portfolio credit relationships for covenant compliance, collateral monitoring, and credit deterioration, as applicable. You will stay informed about industry issues to assess their impact on specific industries, clients, or Alerus C&I portfolios. All duties are performed in accordance with policies, procedures, and regulatory requirements. What You'll Be Doing
Support the loan decision-making process by providing quality, in-depth credit analysis for complex C&I loans and, where applicable, owner-occupied or commercial real estate loans. Develop a comprehensive understanding of customer financial needs and project feasibility. Recommend a plan of action while collaborating with Business Advisors and RCO regarding loan structure, monitoring, and servicing of loan relationships. Perform financial analysis including forecasting and sensitivity analysis to assess borrower capacity to repay. Write cogent credit narratives and perform advanced risk assessments of products, policy, structure, terms, and financial strength with minimal to moderate guidance. Attend loan committee and support Business Advisors in addressing questions on submitted requests. Complete quarterly/annual loan reviews and renewals within required timeframes with minimal guidance. Ensure loan requests comply with applicable bank regulations, policies, and procedures. What You Should Have
Bachelor's degree or equivalent education, including upper-level courses in finance and accounting. 5-8 years of experience in a commercial underwriter role. 4+ years of experience with large, complex business banking and commercial and industrial loans. In-depth knowledge of advanced loan documentation, banking laws, and regulations (preferred but not required). Self-motivated with strong written and oral communication skills. Problem-solving capabilities. What We Bring to the Table
Competitive compensation including base salary, bonus and/or incentive opportunities. Comprehensive benefits package (medical, dental, vision, life, long-term disability, 401(k), and ESOP). Generous paid time off programs, including flexible time off, company-paid holidays, parental and bereavement leave. Learning and development resources, and opportunities for advancement. Access to financial guidance, wellness tools, and discounts on Alerus products and services. Community support through paid volunteer time and a company donation match opportunity. Work Environment
Office setting with occasional extended sitting. Occasional movement around the office with ergonomic safeguards. Some light lifting or moving of supplies up to 20 pounds. Base Pay Range
$95,000 - $150,000 annually Equal Opportunity Employer : Alerus is an equal opportunity employer and values diversity. We do not discriminate on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. This employer is committed to notifying all applicants of rights under federal employment laws. See the Know Your Rights notice from the Department of Labor.
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Alerus is a commercial wealth bank and national retirement provider focused on helping clients achieve their financial goals. We value integrity, collaboration, innovation, adaptability, and entrepreneurial spirit. We are recognized as a Top Workplace by various outlets. About the Role
The Commercial Credit Underwriter III underwrites and monitors a portfolio of complex, large commercial and industrial (C&I) loans ranging from $1,000,000 to $25,000,000. The portfolio may include Owner Occupied and/or investor Commercial Real Estate loans. You will partner with Business Advisors to propose and negotiate lending solutions on new opportunities and underwrite credit risk. You will determine the credit worthiness of borrowers and sponsors and recommend credit decisions. You will monitor portfolio credit relationships for covenant compliance, collateral monitoring, and credit deterioration, as applicable. You will stay informed about industry issues to assess their impact on specific industries, clients, or Alerus C&I portfolios. All duties are performed in accordance with policies, procedures, and regulatory requirements. What You'll Be Doing
Support the loan decision-making process by providing quality, in-depth credit analysis for complex C&I loans and, where applicable, owner-occupied or commercial real estate loans. Develop a comprehensive understanding of customer financial needs and project feasibility. Recommend a plan of action while collaborating with Business Advisors and RCO regarding loan structure, monitoring, and servicing of loan relationships. Perform financial analysis including forecasting and sensitivity analysis to assess borrower capacity to repay. Write cogent credit narratives and perform advanced risk assessments of products, policy, structure, terms, and financial strength with minimal to moderate guidance. Attend loan committee and support Business Advisors in addressing questions on submitted requests. Complete quarterly/annual loan reviews and renewals within required timeframes with minimal guidance. Ensure loan requests comply with applicable bank regulations, policies, and procedures. What You Should Have
Bachelor's degree or equivalent education, including upper-level courses in finance and accounting. 5-8 years of experience in a commercial underwriter role. 4+ years of experience with large, complex business banking and commercial and industrial loans. In-depth knowledge of advanced loan documentation, banking laws, and regulations (preferred but not required). Self-motivated with strong written and oral communication skills. Problem-solving capabilities. What We Bring to the Table
Competitive compensation including base salary, bonus and/or incentive opportunities. Comprehensive benefits package (medical, dental, vision, life, long-term disability, 401(k), and ESOP). Generous paid time off programs, including flexible time off, company-paid holidays, parental and bereavement leave. Learning and development resources, and opportunities for advancement. Access to financial guidance, wellness tools, and discounts on Alerus products and services. Community support through paid volunteer time and a company donation match opportunity. Work Environment
Office setting with occasional extended sitting. Occasional movement around the office with ergonomic safeguards. Some light lifting or moving of supplies up to 20 pounds. Base Pay Range
$95,000 - $150,000 annually Equal Opportunity Employer : Alerus is an equal opportunity employer and values diversity. We do not discriminate on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. This employer is committed to notifying all applicants of rights under federal employment laws. See the Know Your Rights notice from the Department of Labor.
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