VP, Affordable Housing Underwriter job in Pasadena, CA| Recruit Arrow
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VP, Affordable Housing Underwriter
Location : California, Pasadena
Refer job # ZJDH338923
Job Responsibilities and Requirements: The Vice President (VP) of Community Development Lending will be a key leader in the Bank achievement of its $5 billion community benefits plan related to Lending and Investing. This position will help grow and manage a portfolio of affordable housing debt products. This position will be responsible for business development, underwriting and assist with portfolio management of the affordable housing portfolio. REQUIREMENTS In coordination with the Director of Community Lending & Investing (CLI), the VP will assess the lending and investments related needs in our assessment area to ensure excellent responsiveness to community development and credit needs Experience in underwriting affordable housing loans (construction and perm) and, as needed, assist with the underwriting of Low income Housing Tax Credit equity Investments. Experience in the closing of lending and investing opportunities by working with loan administration staff in the coordination of closing and funding which will include working with internal/external attorneys, escrow/title officers and third party consultants Ability to support CIT credit culture which requires extensive due diligence ranging from analysis of financial performance, historical portfolio performance to risk identification and mitigation strategies Experience with the monitoring/asset management of lending and investing portfolio including assisting with timely receipt of reporting and monthly, quarterly and annual internal monitoring reports Qualifications Bachelor degree required, MBA preferred Must possess at least 8 years of affordable housing construction or permanent loan underwriting in a CRA related lending or investing role Must possess CRA investment/lending field experience including detailed knowledge of Low Income Housing Tax Credits, real estate and equity investments and other related regulations regarding lending and investment specific to affordable housing Must be able to read, analyze and interpret various financial reports, financial statements, third party reports (i.e. appraisals, environmental reports) and legal documents Demonstrate superior credit skills for underwriting new deals, renewals, modifications and problem asset management. Shepherd appropriate lending opportunities through the approval process Experience investigating/analyzing sensitive and complex commercial credits and risk issues Must possess strong project management skills and a demonstrated ability to meet tight timelines/deadlines Must possess strong communication skills with the ability to interact with community group leaders, bank executives and outside partners Must have strong verbal, written and interpersonal communication skills and be comfortable making presentations at conferences and other external meetings, serve on community boards and professional organizations which enhance the profile Extensive knowledge and understanding of current market conditions in terms of pricing, terms, conditions and covenants as well as legal structure and documentation Must be able to quickly build successful relationships with co-workers, executives, and third party partners alike, specifically with affordable housing syndicators and developers (for-profit and not-for-profit groups) Must be able to interface with senior Bank credit officers, lawyers, co-lenders, and other internal and external parties in sourcing, structuring and approving deals Enjoy working in relationship management teams with a proven understanding of the importance of balancing business development, asset quality and community development needs Advanced Microsoft office (Word, Excel, an Outlook skills) Ability to make timely and independent judgement decisions while working in a fast-paced, results-oriented environment while exercising sound judgement with attention to detail and accuracy skills.
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