Multifamily (LIHTC) Affordable Housing Underwriter

Affordable Housing UnderwriterAt Regions, the RAH (Regions Affordable Housing) Affordable Housing Underwriter serves as part of the first line of defense, evaluating and underwriting tax credit investments to ensure each supports Regions' objectives and meets or exceeds investment guidelines. Through timely and thorough underwriting, this role supports Regions strategy to maintain and expand investor relationships. This position identifies and mitigates risk in existing and proposed transactions. This position will also work directly with teammates in Credit Risk, Client Coverage, Capital Markets, and other areas of the bank to lead the analysis of credit opportunities, underwriting of credit exposure, and management of a portfolio of loans and other credit relationships while providing effective challenge to these various constituents. This individual will evaluate and underwrite low-income housing tax credit (LIHTC) investments and construction/bridge loans to ensure each supports RAH's objectives and meets or exceeds investment guidelines.Primary ResponsibilitiesPrepares comprehensive executive summaries of proposed investments for review by team management, internal committee and investor approval, including a detailed project description, a list of merits, as well as risks and risk mitigatesPrepares credit approval packages on new and renewed debt products including determination of the appropriate risk rating as well as risk factors that could change the risk rating, analysis of financial performance, performance vs. projections, covenant compliance, relationship profitability (RAROC), and any other significant risk driversConducts analyses of guarantors as needed to support credit underwritingReviews closing due diligence in collaboration with and oversight by more senior RAH team membersMaintains credit files including post-closing items (actively manages financial reporting requirements, covenant requirements, past dues and documentation exceptions and ensures credit files are complete with all up to date information)Creates and maintains financial models, operating expense analysis, and sensitivity analysesCoordinates initial closing, internal department, and third-party review processResponds to developer and investor inquiries and underwriting and due diligence questionsConducts site visits when necessaryAssists with special projects, equity payments, or other priorities, as requestedConducts ongoing portfolio monitoring and servicing activitiesValidates the appropriate risk rating for a company and proactively identifies risk rating changesIdentifies opportunities for exposure reduction or new opportunities within assigned portfolioDevelops a strong working knowledge of and ensures compliance with internal bank commercial loan policy, credit risk management policy, and external regulatory requirements documents any exceptions to policy and provides related rationale/mitigantsOffers advice and guidance to junior underwriters on occasionThis position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.This position is incentive eligible.RequirementsBachelor's degree in related fieldFour (4) years of underwriting and/or portfolio management or similar experienceCompletion of a major corporate credit training program or equivalent corporate banking/finance experienceProven ability to competently complete credit packages and credit servicing agreements under limited supervisionSkills and CompetenciesAbility to research, analyze data, and derive factsAbility to work in a team environment when applicableAbility to work under pressure and meet deadlinesDemonstrated leadership capabilitiesProficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.)Strong negotiation skillsStrong verbal, written communication, and organizational skillsStrong work ethic and self-motivationThis position will require a minimum of 4 days per week in the office. Regions Affordable Housing has teams in the following locations:Great Neck, NYAtlanta, GABirmingham, ALTampa, FLDallas & Austin, TXFull timeCompensation DetailsPay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.Job Range Target:Minimum: $95,271.26 USDMedian: $121,219.20 USDIncentive Pay Plans: This role is eligible to participate in a discretionary incentive plan. Employees have the potential to receive a discretionary award based on performance against defined metrics and goals.Benefits InformationRegions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.Paid Vacation/Sick Time401K with Company MatchMedical, Dental and Vision BenefitsDisability BenefitsHealth Savings AccountFlexible Spending AccountLife InsuranceParental LeaveEmployee Assistance ProgramAssociate Volunteer ProgramPlease note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions' benefits, please click or copy the link below to your browser.Location DetailsRegions Affordable Housing - NYLocation: Great Neck, New YorkEqual Opportunity Employer/including Disabled/Veterans