Underwriter III- Real Estate Banking

At PNC, our people are our greatest differentiator and competitive advantage in the markets we serve. We are all united in delivering the best experience for our customers. We work together each day to foster an inclusive workplace culture where all of our employees feel respected, valued and have an opportunity to contribute to the company's success.

As an Underwriter III within PNC's Real Estate Banking organization, you will be based in a PNC location.

The Entity Finance Underwriter is responsible for performing comprehensive credit underwriting and portfolio management across complex entity-level real estate transactions, including private and institutional real estate funds, homebuilders, real estate operating companies (REOCs), and subscription/capital call facilities.

This role applies advanced financial, structural, and risk analysis to assess borrower creditworthiness, evaluate repayment capacity, and structure transactions in alignment with internal credit policy, regulatory expectations, and market standards.

Identify key credit risks and develop appropriate mitigants, including: * Detailed financial analysis and projection review * Structural features (covenants, borrowing bases, advance rates) * Investor eligibility and concentration limits (for subscription facilities) * Assign and justify internal risk ratings (e.g., PD/LGD) * Ensure consistency with policy and underwriting guidelines * Provide recommendations on deal structure, sizing, and terms to optimize risk-adjusted returns.

- Works independently with little or no oversight. Exercises some exception and elevated approval authority. Prepares loan offerings for all types of transactions at any level of complexity or in management of a portfolio as assigned.

Interacts with internal/external customers. Provides recommendations for credit structuring. Serves as subject matter expert for certain asset classes. - Using independent judgment to identify risks and mitigants, prepares offerings and/or scorecards, such as risk ratings, by analyzing credit, collateral strength and financial worthiness of loan/transaction parties.

If relevant, performs ongoing credit risk management for assigned portfolio. May coach and/or review the work of other underwriters and fill in for manager as required. - Contacts internal/external customers and other parties as appropriate to gather information and to clarify inconsistent, incorrect or missing information.

May perform relevant pre-approval and post-approval activities. - Identifies and/or confirms all external regulatory requirements. Ensures internal policies/procedures are followed. - Makes recommendations on credit decisions or makes credit decisions directly, as appropriate. - Knowledge of IRS Code Section 42 and 47, equity structures and documentation, market research (including onsite inspections and market comp analysis), and 3rd party or external guidelines.

Preferred Skills Credit Decisions, Decision Making, Financial Analysis, Identifying Risks, Process Improvements, Results-Oriented, Risk Assessments

Competencies Accuracy and Attention to Detail, Coaching Others, Credit Analysis and Verification, Decision Making and Critical Thinking, Knowledge of Underwriting, Managing Multiple Priorities, Market Research, Real Estate Development, Real Estate Practice, Real Estate Property Data Analysis, Real Estate Sales Closings and Agreements, Regulatory Environment - Financial Services

Work Experience Roles at this level typically require a university / college degree, with 3+ years of relevant / direct industry experience. Certifications are often desired. In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.

Generally, this opening is expected to be posted for two business days from 07/02/2026, although it may be longer with business discretion.