Private Banking Underwriter III

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.

The Private Banking Underwriter at Old National Bank is responsible for evaluating, structuring, underwriting, approving, and monitoring credit facilities for Private Banking clients, including securities-based, home equity, auto, marine vessel, unsecured and other standard and custom credit solutions designed and tailored to meet the needs of the bank's sophisticated High Net Worth (HNW) and Ultra High Net Worth (UHNW) clients.

We are an in-office working environment with possible locations throughout Chicago area, Minneapolis / St Paul, Evansville Royal Ave., Indianapolis at 900 East 96th, Ft. Wayne IN, Ann Arbor MI, Madison WI, Milwaukee WI metro, and Fargo ND.

Salary Range

The salary range for this position is $60,000 - $165,100 per year plus bonus. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate's relevant skills and professional experience, educational qualifications, and geographic location.

This role requires strong financial acumen, a high level of discretion, impeccable judgment, and the ability to evaluate complex personal financial statements, trust/estate structures, marketable securities portfolios, alternative investments, personal income tax returns, and nontraditional income sources.

Private Banking Underwriters partner closely with Private Bankers, Wealth Advisors, Trust Officers, Portfolio Managers, Attorneys, and Centers of Influence. They serve as internal credit experts balancing risk, service, and relationship sensitivity.

Key Accountabilities

Underwriting & Credit Analysis

Performs comprehensive due diligence on HNW and UHNW clients including analysis of complex personal financial statements, trust/estate structures, marketable securities portfolios, alternative investments, personal income tax returns (including all related schedules and forms), and nontraditional income sources.
• Structures both standard and custom credit facilities, assessing liquidity, networth, and cash flow-based lending capacity.
• Prepares clear, accurate, and timely pre-screen memos, credit approval materials, and credit renewals.
• Aligns loan structures and credit analysis with policy, underwriting standards, and regulatory expectations.

Transaction Structuring

• Develops thoughtful lending structures balancing collateral, capacity, and client relationship strategy.
• Interprets and negotiates loan documentation with internal/external legal counsel.
• Analyzes securities portfolios for marginability, concentration risks, and stresscase scenarios.
• Identifies risk mitigants given the unique dynamics of HNW/UHNW clients.

Portfolio Management

• Monitors credit performance and update financial reviews, liquidity tests, and covenant requirements.
• Partners with Private Bankers to ensure timely receipt of personal financial statements, personal income tax returns (including all related schedules and forms), and portfolio data.
• Proactively identifies potential deterioration and propose corrective action plans.
• Supports internal audit, loan review, and regulatory examinations.

Stakeholder Engagement

• Provides credit expertise to Private Bankers and Wealth Advisors to support client service and growth goals.
• Communicates clearly with internal/external advisors (CPAs, attorneys, investment teams) as needed.
• Supports development and refinement of Wealth credit guidelines, products, and risk appetite.

Key Competencies for Position

Compelling Communication - Openly and effectively communicates with others.

• Communicates clearly and professionally with internal/external partners and sophisticated clients.
• Tailors technical information into concise, understandable recommendations.
• Listens actively and collaborates to achieve solutions aligned with both client needs and credit risk standards.

Makes Decisions & Solves Problems - Seeks deeper understanding and takes action.

• Applies sound judgment in evaluating complex personal financial situations.
• Takes ownership of issues, collaborates effectively, and resolves problems with appropriate urgency.
• Evaluates implications of new information and recommends solutions consistent with bank risk appetite.

Promotes Change - Advocates for positive and impactful modifications.

• Adapts quickly to changes in markets, regulatory expectations, and client needs.
• Identifies opportunities to improve processes, product offerings, and underwriting consistency.
• Demonstrates agility, learning orientation, and forward

Delights Clients - Continuously seeks and applies knowledge leading to a best-in-class client experience.

• Passionately serves internal/external clients with excellence.
• Maintains a growth mindset staying current with developments and trends in areas of expertise influencing client satisfaction both internally and externally.
• Understands data, metrics and/or financial information, and how they tie to client satisfaction and business outcomes related to position, client and/or team.
• Nurtures client relationships by listening, prioritizing, and acting responsibly to meet client needs, mitigate risk and add shareholder value.

Qualifications and Education Requirements

• Bachelor's degree in finance, accounting, economics, or related field OR equivalent experience.
• Demonstrated ability to independently (with limited oversight) understand and analyze complex personal financial statements, estate/trust structures, investment portfolios, and personal income tax returns.
• Understanding of risks associated with Wealth credit including those related to all standard and custom structures and related collateral.
• Basic-to-advanced knowledge of loan structuring, lending regulations, and internal lending policies; proficiency grows with each tier.
• Ability to operate effectively in a fastpaced, hightouch environment with demanding timelines.
• Demonstrated ability to effectively manage multiple high-priority assignments simultaneously.
• Strong communication skills and ability to partner in a consultative, relationshipsensitive culture.
• Wealth or Private Banking credit experience preferred; general banking experience required.
• High-level proficiency with Microsoft 365 (i.e., Word, Excel, PowerPoint, Access, Outlook, Teams, Copilot, etc.) and internet-based applications.

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, 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!