[Hiring] Underwriter IV - Business Credit/Technology Finance @PNC

Role Description

As an Underwriter IV within PNC's Business Credit/Technology Finance organization, you will be based remotely in Boston, MA, Charlotte, NC, New York, NY, Raleigh, NC, Pasadena, CA, San Francisco, CA or within PNC's footprint.

The Underwriter IV is responsible for:

• Underwriting and structuring credit facilities for sponsor-backed and non-sponsored software and technology companies.
• Conducting independent financial, industry, and transaction analysis.
• Evaluating enterprise value, leverage, cash flow generation, and sponsor support.
• Preparing credit recommendations for approval authorities.

Key Responsibilities:

• Underwrite acquisition financings, recapitalizations, refinancings, and growth capital transactions.
• Analyze historical and projected financial performance, operating trends, liquidity, leverage, and debt service capacity.
• Evaluate SaaS-specific metrics, including ARR, net revenue retention, customer concentration, churn, and recurring revenue quality.
• Assess private equity sponsor quality, investment thesis, value-creation plans, and financial support capacity.
• Develop transaction structures including leverage levels, covenant packages, pricing, collateral, and other risk mitigants.
• Prepare comprehensive credit approval memoranda and present recommendations to approval authorities.
• Perform industry, management, and competitive-position analysis.
• Partner with bankers, sponsors, legal counsel, and credit officers throughout transaction execution.
• Review legal documentation for consistency with approved credit terms.
• Identify key transaction risks and recommend appropriate mitigants.

Qualifications

• 5+ years of commercial, corporate, leveraged finance, sponsor finance, technology banking, or middle-market underwriting experience.
• Strong knowledge of cash-flow lending and leveraged transactions.
• Experience underwriting software, technology, or recurring-revenue businesses.
• Understanding of private equity ownership structures and leveraged capital markets.
• Strong credit writing and transaction execution skills.

Requirements

• Works independently with little or no oversight.
• Exercises exception and elevated approval authority.
• Prepares offerings for all types of transactions at any level of complexity.
• Interacts with internal/external customers.
• Provides recommendations for credit structuring.
• Serves as subject matter expert for certain asset classes.
• Coaches and trains the group.
• Identifies risks and mitigants, prepares offerings and/or scorecards.
• Performs ongoing credit risk management for assigned portfolio.
• Contacts internal/external customers to gather information.
• Ensures internal policies/procedures are followed.
• Makes recommendations on credit decisions or makes credit decisions directly.

Benefits

• Medical/prescription drug coverage (with a Health Savings Account feature).
• Dental and vision options.
• Employee and spouse/child life insurance.
• Short and long-term disability protection.
• 401(k) with PNC match, pension and stock purchase plans.
• Dependent care reimbursement account.
• Back-up child/elder care.
• Adoption, surrogacy, and doula reimbursement.
• Educational assistance, including select programs fully paid.
• A robust wellness program with financial incentives.
• Maternity and/or parental leave.
• Up to 11 paid holidays each year.
• 9 occasional absence days each year.
• Between 15 to 25 vacation days each year, depending on career level and years of service.