Fund Finance Underwriter​/PM - Associate

Job Title

At U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career.

Try new things, learn new skills and discover what you excel at—all from Day One.

U.S. Bank's Fund Finance ("FF") team is a market-leading lender in the rapidly growing fund finance industry, providing tailored financing solutions to the world's leading private capital sponsors. The team specializes in structuring and underwriting subscription line facilities and related fund-level credit products secured by the capital commitments of sophisticated institutional limited partners. As the private funds ecosystem continues to expand and evolve, Fund Finance has become a strategically important product within global banking, sitting at the intersection of structured credit, capital markets, and alternative assets.

The platform is also increasingly leveraging data, analytics, and emerging AI-enabled tools to enhance underwriting quality, portfolio monitoring, and operating efficiency.

We are seeking an Associate-level Underwriter / Portfolio Manager to join our Portfolio Management and Underwriting team. This role sits at the center of a highly visible, fast-scaling business and offers direct exposure to top-tier private equity sponsors, complex fund structures, and global investor bases. The successful candidate will play an important role in supporting the underwriting of new transactions, assisting in the management of a growing portfolio, partnering with originations and relationship management, and contributing to the continued evolution of U.S. Bank's fund finance platform within a technology-forward operating model.

Primary Responsibilities

• Partner with and support Fund Finance Originations and Relationship Managers in underwriting and monitoring a diversified portfolio of subscription credit facilities and institutional sponsor relationships, with the opportunity to assist on emerging NAV and hybrid financing solutions as the platform evolves.
• Assist in underwriting private investment funds across multiple strategies, including buyout, growth equity, secondaries, private credit, real assets, and real estate.
• Support the evaluation of fund structures, legal documentation, and investor bases to help determine credit quality, advance rates, and borrowing base composition, with exposure to NAV-based collateral analysis on applicable transactions.
• Analyze a broad range of investor types, including pension funds, endowments, foundations, insurance companies, sovereign wealth funds, feeder vehicles, and high-net-worth investors.
• Assist and prepare written credit memoranda and financial analyses, support the assignment of risk ratings, and help prepare transactions for presentation to senior management and credit committees.
• Support the processing of new facilities, amendments, extensions, and waivers in accordance with internal credit policy and risk appetite.
• Ensure accurate and timely completion of loan booking, credit approval, and ongoing monitoring requirements within nCino and related systems.
• Help monitor portfolio performance, identify emerging risks, and escalate potential mitigants or structural enhancements as appropriate.
• Contribute to strategic initiatives focused on process improvement, portfolio optimization, data quality, and scalability.
• Maintain effective internal and external stakeholder relationships through clear communication and commercially focused problem-solving.
• Support knowledge sharing and collaboration across the group.

Basic Qualifications

• Bachelor's degree, or equivalent work experience
• Typically six or more years of relevant experience

Preferred Skills/Experience

• Working knowledge of commercial/corporate lending and credit standards, policies, procedures and products
• Exposure to fund finance and/or…