Senior Commercial Real Estate Underwriter

Columbia Banking System; Seattle (WA); On-site; USD 100,000 - 175,000; Full time

Benefits offered by this job

Healthcare coverage

401(k) with employer match

Life insurance

Disability insurance

Tuition assistance

Mental health resources

Identity theft protection

Legal support

Auto and home insurance

Pet insurance

Discount marketplace access

Paid vacation

Sick days

Volunteer days

Holidays

Job summary

Columbia Bank in Seattle seeks an experienced Commercial Real Estate underwriter to assess and underwrite complex CRE loans, provide credit analyses, and support Relationship Managers in managing sophisticated CRE portfolios.

Role focuses on construction, bridge, and permanent loans, with emphasis on cash flow, market risk, and adherence to bank guidelines. Onsite work in Seattle and collaboration across banking teams are required.

Qualifications

• 7–10 years of commercial underwriting/credit analysis experience.
• Experience with CRE lending (construction, bridge, permanent) preferred.
• Strong analytical, communication, and presentation skills.

Responsibilities

• Underwrite complex CRE loans and prepare credit presentations.
• Monitor large CRE loan portfolio with RMs.
• Assess market risk and cash flow for borrower obligations.
• Ensure compliance with bank policies and risk rating models.

Skills

Analytical skills

Credit analysis

Cash flow analysis

Financial statement spreading

Time management

Communication skills

Credit policy knowledge

Excel

Word

Tools

Word

Excel

Job description

About the Role:

Underwrites and prepares credit presentations for complex Commercial Real Estate (CRE) loans. Assists Relationship Managers (RMs) in the monitoring of a large loan portfolio consisting of complex CRE products including construction, bridge, and permanent loans. Collaborates with RMs to manage and deepen full banking relationships with sophisticated CRE developers and investors. Analyze appraisal and market data to assess market risk associated with the CRE project. Underwrite sponsors’ contingent debt, portfolio refinance risk, and global cash-flow to assess their ability to address financial obligations. Assess CRE credit markets to analyze potential take-out financing. Identify key business and financial risks that may impact the repayment prospects by the borrower; presents conclusions supporting the credit recommendation based on documented facts and/or sound judgement. Prepare timely, concise and accurate credit recommendations, with limited supervision or revision. Includes: (1) quantitative components within the underwriting narrative documenting the credit analysis; (2) accurate use of risk rating scoring models, using both quantitative and qualitative rating elements to ensure sponsors and individual loans are properly risk-rated; (3) accurate identification and mitigation of all Bank tracked policy exceptions, tracked guidelines exceptions, and departures from established procedures and underwriting processes; and (4) accurate loan and risk rate coding when the credits are boarded on the bank operating systems. Monitor borrower financial performance in line with loan documents; spreads or oversees spreading of financial statements in accordance with Bank Guidelines to ensure accuracy. Tests covenant calculations and adherence to approval conditions and loan documentation. Collaborates with Analysts and RMs to ensure borrower notifications are sent and approvals are obtained to resolve any violations in a timely manner. Collaborates with RMs to identify and communicate credit risk so that it is effectively mitigated within new and existing credits. Partners with Analysts and Relationship Managers to offer insights into customer financial needs, including opportunities identified using Line of Business-approved relationship expansion tools. May also offer opinions related to a loan structure’s effectiveness to mitigate risks, appropriate to prevailing competitive market environment and Bank risk tolerances. Partners Relationship Managers in customer and prospect calls as appropriate. May oversee the work of other commercial underwriters or credit analysts, including the timely review of credit requests and financial spreads to ensure accurate, high quality work product. Demonstrates compliance with all bank regulations for assigned job function and applies to designated job responsibilities – knowledge may be gained through coursework and on-the-job training. Keeps up to date on regulation changes. Follows all Bank policies and procedures, compliance regulations, and completes all required annual or job-specific training. Maintain a working knowledge of Bank's written policies and procedures regarding Bank Secrecy Act, Regulation CC, Regulation E, Bank Security and other regulations as applicable to this job description. May be asked to coach, mentor, or train others and teach coursework as subject matter expert. Actively learns, demonstrates, and fosters the Columbia corporate culture in all actions and words. Takes personal initiative and is a positive example for others to emulate. Embraces our vision to become “Business Bank of Choice” May perform other duties as assigned.

About You:

Education Experience 7-10 years — of commercial underwriting/credit analysis experience or relevant lending experience. (Required)

Skills

Advanced analytical and problem-solving skills. Advanced credit and credit quality skills including accounting, financial statement spreading, and cash flow analysis. Demonstrated time management skills, reflecting the ability to juggle multiple tasks simultaneously while delivering high quality work product on time. Ability to work effectively with individuals and groups across the company to manage internal and external customer relationships. Possesses excellent written, verbal, interpersonal and presentation skills. Advanced knowledge of credit policies, procedures, and practices. Proficiency with personal computers and related software packages such as Word and Excel.

Travel Requirements

Occasional

Pay Range

The pay range for this role is $100,000 to $175,000. The pay rate for the selected candidate is dependent upon a variety of non-discriminatory factors including, but not limited to, job-related knowledge, skills, and experience, education, and geographic location. The role may be eligible for performance-based incentive compensation, and those details will be provided during the recruitment process.

Primary Location

Ability to work fully onsite at posted location(s). 1111 Third Avenue 29th Floor Seattle WA 98101

Our Benefits

• comprehensive healthcare coverage (medical, dental, and vision plans)
• a 401(k)-retirement savings plan with employer match for qualifying associate contributions
• an employee assistance program
• life insurance
• disability insurance
• tuition assistance
• mental health resources
• identity theft protection
• legal support
• auto and home insurance
• pet insurance
• access to an online discount marketplace
• paid vacation
• sick days
• volunteer days
• holidays

Our Commitment to Diversity

Columbia Bank is an equal opportunity and affirmative action employer committed to employing, engaging, and developing a diverse workforce. All qualified applicants will receive consideration for employment without regard to race, color, national origin, religion, sex, age, sexual orientation, gender identity, gender expression, protected veteran status, disability, or any other applicable protected status or characteristics.

Accommodations

If you require an accommodation to complete the application or interview(s), please let us know by email: [e-mail].

Recruiting Agencies

To Staffing and Recruiting Agencies: Our posted job opportunities are only intended for individuals seeking employment at Columbia Bank. Columbia Bank does not accept unsolicited resumes or applications from agencies and Columbia Bank will not be responsible for any fees related to unsolicited resume submissions. Staffing and recruiting agencies are not authorized to submit profiles, applications, or resumes to this site or to any Columbia Bank employee and any such submissions will be considered unsolicited unless requested directly by a member of the Talent Acquisition team.

Company Culture and Values

At Columbia Bank, we’re redefining what it means to bank and to build a career. As the West’s premier banking experience, we combine the strength and scale of a leading financial institution with the heart and mindset of a community bank. With more than 350 locations across eight states, we deliver relationship-based service backed by regional expertise and resources that help families and businesses thrive. Our culture is built on Do RIGHT, which means: Relationships: We create authentic connections with customers, colleagues, and communities. Impact: Every role here makes a meaningful difference in people’s lives and local economies. Growth: We invest in your success with career development, mentorship, and learning opportunities. Heart: We care deeply about doing what’s best for our customers and each other. Trust: Integrity and transparency guide everything we do.

Why Work for Columbia Bank?

A strong, stable financial foundation with over $67 billion in assets and a diverse portfolio that supports flexibility and opportunity. A culture of belonging and purpose, where your ideas matter and your work has impact. Competitive benefits and flexibility designed to help you thrive personally and professionally. Community engagement that matters, from supporting local businesses to empowering youth through financial literacy initiatives. Ready to Do RIGHT for your career, your community, and your future? Explore opportunities and join Columbia Bank today.