Underwriter , Business Banking

Overview

Underwriter I, Business Banking at Alerus

Alerus is a commercial wealth bank with a national retirement provider purpose: helping clients achieve financial goals. We value integrity, collaboration, and an entrepreneurial spirit at all levels.

• Centralized underwriting for new loans, modifications, and renewals.
• Propose lending solutions and underwrite credit risk.
• Complete annual reviews and support Commercial & Business Bankers.
• Underwrite commercial and industrial (C&I) loans ranging $1,000,000‑$5,000,000 and related real‑estate loans.
• Determine borrower creditworthiness and recommend credit decisions.
• Monitor portfolio credit relationships for covenant compliance, collateral monitoring, and credit deterioration.
• Perform financial analysis, forecasting, and sensitivity analysis.
• Write credit narratives and advanced risk assessments.
• Collaborate with bankers and Regional Credit Officers to structure loan terms aligned with risk appetite.
• Grade all credits per Bank’s credit classification system.
• Identify early warning signs of credit deterioration or covenant breaches.
• Ensure requests adhere to applicable regulations, policies, and procedures.
• Stay updated on economic trends, industry developments, and regulatory changes.

• Bachelor’s degree or equivalent education, including finance and accounting courses.
• 1‑3 years of experience as a credit analyst or underwriter.
• Prefer experience in commercial & industrial, commercial real estate, and agricultural lending.
• Knowledge of medium‑complexity loan documentation, banking laws, and regulations.

• Competitive compensation: base salary, bonus, and incentive opportunities.
• Comprehensive benefits: medical, dental, vision, life, long‑term disability, 401(k), ESOP.
• Paid time off: flexible time off, company holidays, parental and bereavement leave.
• Learning and development resources, career advancement opportunities.
• Financial wellness tools and discounts on Alerus products and services.
• Volunteer time and company donation match.

Office setting; requires prolonged sitting and ergonomic safeguards. Employee may lift up to 20 pounds.

$60,000 – $80,000 per year

Alerus is an equal opportunity employer and values diversity. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.