Underwriter , Business Banking

Job Title

Underwriter I, Business Banking

Alerus

Minneapolis, MN

Alerus is a commercial wealth bank and national retirement provider with one core purpose: helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company.

By consistently seeking improvements and growth, we foster long‑term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.

• Centralized Underwriting for new loans, modifications, and renewals
• Propose Lending Solutions
• Underwrite Credit Risk
• Complete Annual Reviews
• Provide Support to the Commercial & Business Bankers

• Perform financial analysis including forecasting and sensitivity analysis to assist in determining borrower capacity to repay.
• Develop a comprehensive understanding of customer’s financial needs and formulate a plan for loan structure and servicing.
• Write cogent credit narratives and perform advanced risk assessments of products, policy, structure, terms and financial strength with minimal to moderate guidance/feedback.
• Collaborate with bankers and Regional Credit Officers to structure loan terms that align with the bank’s risk appetite and client needs.
• Independently grade all credits in accordance with the bank’s credit classification system.
• Monitor existing loan portfolio performance and proactively identify early warning signs of credit deterioration or covenant breaches.
• Ensure loan requests adhere and comply with applicable bank regulations, policies and procedures.
• Stay updated on economic trends, industry developments, and regulatory changes impacting credit underwriting and commercial lending practices.

• Bachelor’s degree or equivalent education including upper‑level courses in finance and accounting
• 1‑3 years of experience in a previous credit analyst or underwriter position
• 1+ years of experience working with commercial and industrial, commercial real estate and agricultural lending preferred
• In‑depth knowledge of straightforward to medium complexity loan documentation, banking laws, and regulations preferred

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• Comprehensive benefits package providing a wide range of health and well‑being benefits, including medical, dental, vision, life and long‑term disability insurance; and 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company‑paid holidays, parental and bereavement leave.
• Learning and development resources for personal and professional career development, and advancement opportunities.
• Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services.
• Support for the communities we live in through paid volunteer time and a company donation match opportunity.

$60,000 - $80,000 per year

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