Commercial Real Estate - Regional Underwriting Manager

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed.  We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

The Regional Underwriting Manager (RUM) leads all Commercial Real Estate underwriting and portfolio management activities across the Central Region. This position is responsible for driving credit quality, underwriting consistency, portfolio oversight, workflow management, talent development and execution of strategic underwriting initiatives. The RUM serves as the primary underwriting partner to CRE market leadership and is accountable for delivering timely, high-quality credit analysis and portfolio risk management while fostering a strong culture of risk discipline, collaboration and continuous improvement.

The role directly manages Senior Underwriters and Hub Managers, with oversight over the CRE Underwriting Hubs in Minneapolis and Denver; and supports underwriting resources, ensuring alignment with enterprise credit policies, regulatory expectations and business objectives.

Key Responsibilities

Regional Leadership & Strategy

• Lead all underwriting and portfolio management activities for the Central Region.
• Establish and execute regional underwriting strategies, priorities and operating objectives.
• Partner with Relationship Managers, Credit partners and CRE leadership to support portfolio growth while maintaining sound credit discipline.
• Serve as the primary escalation point for significant credit, portfolio, operational and staffing matters.
• Drive consistency in underwriting practices, processes and documentation across the region.
• Serve as a member of the national CRE Underwriting leadership team, collaborating with peers and the Head of CRE Underwriting to advance strategic priorities, drive process improvement and operational efficiencies, and enhance the overall effectiveness and consistency of the underwriting organization.

Credit Risk Management & Portfolio Management Oversight

• Maintain overall accountability for underwriting quality and consistency throughout the region.
• Provide guidance on complex transactions, credit structures, sponsor analysis and portfolio risk matters.
• Partner with Regional Portfolio Managers to maintain a proactive portfolio management culture.
• Review and escalate emerging portfolio, covenant, sponsor or market risks as appropriate.
• Ensure risk ratings, annual reviews, modifications and portfolio monitoring activities are completed accurately and on time.
• Promote strong credit judgment and sound underwriting recommendations across all asset classes and property types.

Team Leadership & Talent Development

• Lead and develop a team of credit analysts and senior underwriters with varying degrees of experience.
• Coach Hub Managers to enhance leadership effectiveness and technical expertise.
• Establish clear performance expectations and accountability standards.
• Support recruiting, succession planning, talent development and retention efforts.
• Foster a collaborative, high-performing culture emphasizing ownership, continuous learning and strong risk management.

Workflow & Operational Excellence

• Ensure effective allocation of underwriting resources across new business and portfolio management activities.
• Identify opportunities to improve efficiency, standardization and scalability of underwriting processes.
• Support implementation of technology, automation and process improvement initiatives.
• Partner with Hub Managers to ensure timely execution and quality control of underwriting deliverables, monitor workflow capacity, priorities and service-level expectations.

Audit, Regulatory & Governance

• Lead underwriting engagement with internal audit, external audit and regulatory examinations.
• Ensure compliance with credit policy, underwriting standards and governance requirements.
• Coordinate responses to audit findings and support remediation efforts as needed.
• Promote strong documentation and defensible credit practices throughout the organization.

Business Partnerships

• Participate in strategic discussions regarding portfolio trends, business strategy, staffing and risk management.
• Act as a trusted advisor to CRE market leaders, Relationship Managers and Credit leadership.
• Facilitate productive partnerships between Underwriting, Credit and the Business Line.
• Serve as a key representative of the underwriting organization across the platform.

Basic qualifications:

• Bachelor's degree, or equivalent work experience
• 10 or more years of banking experience
• Five or more years of management experience

Preferred Skills/Experience

• Advanced knowledge of commercial lending policy, all applicable laws and regulations, and credit quality standards, with experience supporting internal and external audits, credit reviews, and/or regulatory examinations

• Advanced knowledge of commercial real estate credit analysis and transaction structures for various property types, including property-level cash flow analysis, sponsor/guarantor analysis, loan structuring, risk rating, and credit documentation.
• Experience evaluating complex CRE transactions, identifying material credit risks, and developing appropriate underwriting recommendations and risk mitigation strategies.
• Change leadership skills with experience implementing or supporting process improvement, standardization, technology, or automation initiatives within an underwriting, credit, or lending organization.
• Proven experience leading and coaching underwriters and/or portfolio managers, and contributing to recruiting, succession planning, and talent development.
• Effective verbal and written communication skills, with ability to communicate complex credit, portfolio, and risk matters clearly to business partners, credit leadership, and senior leaders.

Location expectations 

This role requires working from the U.S. Bancorp Ctr, Minneapolis, or Denver Tower, Denver, CO, or Milwaukee Lewis Center, Milwaukee, WI, U.S. Bank location three (3) or more days per week.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits: 

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

• Healthcare (medical, dental, vision)

• Basic term and optional term life insurance

• Short-term and long-term disability

• Pregnancy disability and parental leave

• 401(k) and employer-funded retirement plan

• Paid vacation (from two to five weeks depending on salary grade and tenure)

• Up to 11 paid holiday opportunities

• Adoption assistance

• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $170,255.00 - $200,300.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.