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

Job Summary

Underwriter is responsible for evaluating, structuring, and underwriting complex bilateral and syndicated credit facilities for Middle Market clients across general industries. This role requires advanced knowledge of credit risk analysis and structuring including enterprise value, cash flow analysis and heavily asset reliant, a deep understanding of legal documentation, and active participation in negotiations. Underwriters manage a portfolio of clients with a focus on credit quality and risk mitigation, acting as internal credit experts while partnering closely with Relationship Managers and external stakeholders.

Possible office locations include Beachwood OH (Cleveland area), Pittsburgh PA, and Indianapolis IN.

Salary Range

The salary range for this position is $81,700 - $165,100 per year plus annual incentive bonus. Final compensation will be determined by location, skills, experience, qualifications and the level of career at which the position is filled. Position is eligible for an annual incentive bonus.

Key Accountabilities

Underwriting & Credit Analysis

• Conduct comprehensive due diligence including financial statement review, third-party reports, and industry analysis.
• Build and interpret advanced financial models (e.g., cash flow lending, projection modeling).
• Assess borrower risk, ownership structure, and management capabilities.
• Prepare credit approval materials including opportunity memos, term sheets, and formal credit approval memo.

Transaction Structuring

• Develop and evaluate capital structures, sources and uses of funds, and collateral packages.
• Participate in legal documentation review and negotiations, ensuring alignment with credit policy and risk appetite.
• Identify risks and propose mitigants tailored to specialty segment nuances.

Portfolio Management

• Monitor asset quality, covenant compliance, and financial performance of assigned clients.
• Collaborate with Relationship Managers to ensure ongoing credit health and proactive risk management.
• Support internal and external audits and regulatory reviews.

Stakeholder Engagement

• Serve as a subject matter expert in underwriting, providing consultative support to internal teams.
• Engage with clients and legal counsel to validate business plans and transaction terms.
• Partner with Treasury Management and other internal teams to support client needs.

Key Competencies for Position

• Compelling Communication – Openly and effectively communicates with others.
• Makes Decisions & Solves Problems – Seeks deeper understanding and takes action.
• Promotes Change – Seeks to understand and embrace change.

Qualifications and Education Requirements

• At least 5 to 10 years of demonstrated progressive experience within Middle Market required.
• Bachelor’s degree in finance, accounting or related field OR equivalent experience.
• Demonstrated ability to independently (with limited oversight), understand, analyze and interpret financial statements.
• Must feel comfortable working in a collaborative team environment along with being an independent thinker.

Key Measures of Success

• Demonstrates reliability in meeting established transaction timelines and milestones.
• Ensure acceptable quality and accuracy of work as assessed by loan review, OCC, and/or management.
• Maintain sound asset quality, demonstrating sound underwriting, credit judgement and credit monitoring.

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.

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, SVP, 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!