Commercial Real Estate Underwriter

About Us

Piermont Bank is a tech-enabled digital commercial bank founded in 2019 with a mission of changing the face and pace of banking. It provides an unprecedented experience that blends the best of banking and agile Fintechs. At Piermont, we are purpose-driven, and focused on creating and delivering banking products relevant to today’s digital economy. We are the go-to Bank for the fintech ecosystem.

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The Senior Commercial Real Estate Underwriter will support the Bank’s commercial real estate lending and deposit origination and management activities while assisting in the evaluation of new lending opportunities.

• Perform technical (i.e., spreadsheet) analysis of project economics, historical income, and pro forma income.
• Conduct market and industry research (e.g., comparable rents/sales and submarket supply and demand conditions).
• Prepare related internal memoranda, including credit memo for credit supervision review and face sheet and discussion summary memoranda on standard bank templates.
• Order third-party consultant reports (i.e., appraisal, environmental assessment, property condition report, plan, and cost review) through the RIMS portal. Procure current collateral property flood status certifications.
• Produce, in coordination with the Account Officers, new and modified loan recommendation packages, including Order internal due diligence (“front and back sheets”) and annual loan reviews.
• Lead analysis efforts for:
  • Stress test, and report on pro forma and historical collateral property cash flows.
  • Sources of repayment.
  • Guarantor and borrower financial condition, liquidity, and cash flow.
  • Risk factors and mitigating circumstances.
• Conduct research on industry and submarket research, including the utilization of bank vendors such as REIS and perform property level research including property taxes.

• 7+ years commercial real estate finance experience.
• Formal credit training preferred.
• Knowledge of all AML / KYC requirements.
• Proficiency with the Microsoft Office software suite of applications.

The hiring range for this position is $120,000 to $150,000 per year. The base pay actually offered will take into account internal equity and also may vary depending on the candidate’s job-related knowledge, skills, and experience, among other factors. A bonus and/or incentives may be provided as part of the compensation package, in addition to the full range of medical, dental, vision, 401k, and other benefits.

Piermont Bank is an equal-opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We do not discriminate based upon race, religion, color, national origin, political affiliation, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability or other applicable legally protected characteristics.