Senior Underwriter for Institutional Loans

Company: Mission Investment Fund of the ELCA

Location: Chicago, IL

Job Function: Underwriting


About the ELCA 

The ELCA is one of the largest Christian denominations in the United States, with 3 million members in more than 8,700 worshipping communities across the 50 states and in the Caribbean region (Puerto Rico and the U.S. Virgin Islands). With a vision to live in a world experiencing the difference God’s grace and love in Christ makes for all people and creation, the ELCA strives to be a welcoming, thriving, and connected church that introduces people to Jesus so they can discover community, justice, and love.

The Lutheran Center (national office) is located in Chicago, Illinois. A staff of 400, under the leadership of the Presiding Bishop, serve as administrators, advisors, conveners, partners, and resource people for the ELCA and its ministries. Staff lead the work of national, domestic, and global ministries and programs including Lutheran Disaster Response, ELCA World Hunger, Service & Justice, Christian Community and Leadership, and Innovation.  We are also home to five of our separately incorporated ministries: The Mission Investment Fund of the ELCA, Women of the ELCA, Lutheran Men in Mission, the ELCA Foundation and the ELCA Federal Credit Union.

About the Mission Investment Fund 

The Mission Investment Fund (MIF), a financial ministry of the Evangelical Lutheran Church in America, supports the establishment and growth of ELCA congregations, synods, and affiliated ministries by providing loans for capital projects for congregations and ministries.  To fund these loans, MIF offers a variety of investments to ELCA members, congregations, and ministries.

The ELCA Federal Credit Union (FCU), a financial ministry of the Evangelical Lutheran Church in America, offers financial products and services to ELCA members, pastors, congregations, synods, affiliated ministries, and their employees.  The portfolio of products includes low-cost loans, deposit accounts, credit cards, and other financial products, services, and solutions within a not-for-profit, cooperative structure.

Values – MIF’s values are rooted in Christian faith, Lutheran traditions, and our identity as a ministry of the ELCA:

* Integrity *Customer Focus *Inclusion and Diversity* Faithful Stewardship *Courage and Openness to Change


The Senior Underwriter for Institutional Loans serves as the key contact for loan requests from nonprofit organizations. They are responsible for underwriting and seeking approval of loans, including those requiring complex structuring. They routinely analyze and evaluate loan applications, contact customers, and make appropriate recommendations regarding loan structure with approval.

This is a full-time, regular, exempt, Chicago-based hybrid position. This position has responsibilities that will require being in the office on a weekly basis. 

Candidates for this remote position must reside within the fifty United States or the District of Columbia and be authorized to work lawfully in the United States. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification document form upon hire.


  1. Evaluates loan requests, including the institution’s financial condition and projections, site analysis and building plans, operating plans, potential risks and other relevant data to support a recommendation of whether or not to make a loan. Communicates closely with the customer and makes sites when appropriate.
  2. Responds in a timely manner to inquiries from prospective borrowers, providing information regarding lending programs, assessing loan readiness, and assisting as necessary to prepare loan submissions and related paperwork.
  3. Coordinates as necessary with the VP of Lending to underwrite, structure, package and present loan recommendations for approval. Documents terms and conditions and assists with issuing a commitment letter.
  4. Supports MIF’s Customer Relationship Management database with data input to ensure that accurate and comprehensive information on all aspects of loan program is readily available, for initial contact through project closing and long-term monitoring.
  5. Conducts in-person and virtual presentations or workshops for customers and prospective borrowers as arranged in coordination with other partners.
  6. Performs other duties as assigned.


  1. Bachelor’s Degree preferred in business, accounting or finance or equivalent combination of education and experience.
  2. 5+ years’ experience in banking, finance, or real estate finance required related to nonprofit organizations.
  3. Demonstrated competence in commercial lending terminology and credit and financial statement analysis. Experience with marketing and/or selling loan products to nonprofit organizations.
  4. Prior Experience in the nonprofit sector; familiarity with construction and lending practices and terminology.  Excellent interpersonal skills and partnership focus. Proven ability to build relationships, trust, and rapport, and collaborate at all levels of the organization.
  5. Proficient computer user, including Microsoft Office (Word, Excel, Teams, Outlook, etc.) and databases.
  6. Highly organized, self-motivated, and able to work independently as well as within a team with a high level of professionalism, personal integrity, and dependability.
  7. Ability to effectively manage and achieve successful outcomes in an environment of ambiguity and competing priorities.
  8. Appreciation for the mission, vision and values of the ELCA.
  9. Commitment to diversity, equity and inclusion and anti-racism.

Physical Effort: While performing the duties of this job, the employee is regularly required to  talk and hear, use hands and fingers to operate a computer and telephone. This position  requires sitting for long periods of time. Employee will occasionally need to lift boxes or  materials up to 15 pounds. Reasonable accommodations can be made to enable  individuals with disabilities to perform the essential functions.

Travel Frequency: Considerable travel; Up to 25% (approximately 12 weeks) Position requires some overnight, domestic travel by plane and car. A valid driver’s license is required.

Compensation and Benefits

Salary: Commensurate with qualifications and experience. Minimum: $85,000.

Benefits: MIF offers a competitive benefits package for eligible employees, including employer paid health premiums for employees, health and dependent care FSA’s, a health savings account (HSA) with an employer contribution, life insurance and a substantial employer contribution to 403b retirement plan (no match required). We also offer generous paid time-off including paid holidays.  All benefits commence on the start date.

How to Apply

Evangelical Lutheran Church in America – Senior Underwriter for Institutional Loans (