Commercial Credit Underwriter

About the role

Piermont Bank is a boutique specialty commercial bank focused on serving modern businesses with a digital‑first approach. As the first cloud‑native bank launched in the United States, Piermont was built on modern infrastructure that allows us to operate with greater flexibility, efficiency, and scalability than traditional banks. We combine disciplined commercial banking with innovative technology to deliver value‑added solutions for small and medium‑sized businesses, private funds, and our fintech partners. Our team is dedicated to thoughtful risk management, strong client relationships, and building a bank designed for the future of financial services. The Senior Commercial Credit Underwriter will support the Bank's lending and deposit origination activities across multiple commercial verticals. This role will evaluate new lending opportunities, perform comprehensive credit analysis, and support portfolio management for commercial real estate, operating companies, and private investment funds.

Responsibilities

• Perform detailed financial analysis of borrowers, sponsors, and collateral across CRE, C&I, and Fund Finance transactions, including:
• Historical and projected operating performance
• Cash flow modeling and stress testing
• Borrowing base, collateral coverage, and covenant sensitivity
• Fund capital call structures, liquidity profiles, and investor concentrations
• Evaluate project economics, business operations, and fund structures to determine creditworthiness and repayment capacity.
• Conduct market and industry research, including:
• CRE comparable rents/sales, supply‑demand trends, and submarket dynamics
• C&I sector‑specific risks, competitive positioning, and macroeconomic drivers
• Fund‑level benchmarking, investor quality, and asset class trends
• Perform property‑level research, including taxes, zoning, and regulatory considerations.
• Prepare internal memoranda, including full credit memos, discussion summaries, and risk assessments using standard bank templates.
• Order and review third‑party reports such as:
• Appraisals, environmental assessments, and property condition reports
• Field exams, quality of earnings reports, and collateral audits for C&I borrowers
• Fund documentation reviews, including LPAs, subscription agreements, and investor letters
• Procure flood certifications and ensure compliance with internal and regulatory requirements.
• Produce new and modified loan recommendation packages in coordination with Relationship Managers.
• Support annual reviews, ongoing monitoring, and covenant compliance for CRE, C&I, and Fund Finance portfolios.
• Assess and articulate key risk factors and mitigating circumstances across diverse borrower types.
• Evaluate guarantor and sponsor financial condition, liquidity, and global cash flow.

Requirements

• 7+ years of experience in commercial credit underwriting, including exposure to CRE, C&I, and/or Fund Finance.
• Formal credit training preferred.
• Strong understanding of AML/KYC requirements.
• Proficiency with Microsoft Office applications, especially Excel.
• Ability to analyze complex financial structures and communicate findings clearly.

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