Fund Finance 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 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 Fund Finance Underwriter will be responsible for assessing and underwriting credit facilities for private equity, venture capital, real estate, and other investment funds. The role focuses on analyzing fund structures, investor bases, collateral quality, and cash‑flow dynamics to determine creditworthiness and appropriate loan terms. This position ensures that financing transactions are sound, compliant, and aligned with the institution's risk appetite and Private Equity Lending Policy.

Responsibilities

• Work with the Relationship Managers through the entire loan origination process, from initial prosecting to closing (underwriting, due diligence, obtaining credit approval, reviewing loan documentation).
• Underwrite complex financing structures, including capital call, NAV‑based, and hybrid facilities, by assessing collateral strength and repayment sources.
• Evaluate risk profiles by reviewing fund performance, sponsor track record, portfolio composition, and market conditions.
• Conduct due diligence with fund managers, legal counsel, and internal stakeholders to validate assumptions and identify risks.
• Prepare detailed credit memos and present recommendations to credit committees for approval.
• Structure loan terms, including covenants, pricing, collateral requirements, and reporting obligations, based on risk assessment.
• Manage transactions through closing, coordinating documentation, legal negotiations, and internal approvals.
• Monitor ongoing credit performance, including compliance with covenants, borrowing base calculations, and fund performance updates.
• Manage all advance and drawdown requests.
• Maintain knowledge of industry regulations, fund structures, and market trends relevant to private capital and structured lending.

Requirements

• Minimum of a Bachelor's degree in finance, accounting, credit-related field, and at least 5+ years of increasingly diverse or complex applications in finance.
• Experience in underwriting, portfolio management, seeking credit approval, negotiating loan documents, and closing commercial loans.
• Minimum of 3+ years in underwriting complex financing structures, including capital call, NAV‑based and hybrid facilities, GP facilities, etc.
• Ability to interpret legal documents, including LPAs, credit agreements, and financial statements.
• Excellent verbal and written communication skills to interact effectively with fund managers, attorneys, and internal teams.
• Strong and proven analytical, financial structuring, and execution skills.
• Deep understanding of regulatory reporting.
• Strong initiative and interactive approach to problem-solving.
• Proven ability to prioritize competing demands.

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