Regions Financial Corporation
VP, Senior Affordable Housing (LIHTC) Underwriter
Regions Financial Corporation, Atlanta, Georgia, United States, 30383
Thank you for your interest in a career at Regions. At Regions, we believe associates deserve more than just a job. We believe in offering performance-driven individuals a place where they can build a career --- a place to expect more opportunities. If you are focused on results, dedicated to quality, strength and integrity, and possess the drive to succeed, then we are your employer of choice.
At 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 Responsibilities
Works in support of the RAH banking team and adds value directly to client and coverage in articulating Regions’ underwriting methods, processes, and risk appetite for specific debt products
Creates and maintains financial models for affordable housing investments, which include schedules such as sources and uses, operating expense analysis, and sensitivity analysis
Identifies potential real estate finance issues through analysis and income and expense underwriting for each project assigned
Manages the due diligence checklist, gathers all required documents, reviews the documents, and notes any issues as appropriate; reviews tax credit and project due diligence including tax credit documents, real estate documents, market studies, appraisals, environmental reports, project approvals, and construction documents
Understands the background and experience of each development team member including sponsor/developer, general contractor, architect, property manager, project accountant, and support service agency (if applicable) as well as reviews references and conducts background checks
Reviews lower-tier partnership agreements, construction, and permanent loan documents while understanding the importance of each document and its relationship to the transaction
Maintains market knowledge of loan pricing and structural trends to match client needs with Regions’ debt product solutions
Calls jointly on clients with coverage bankers to understand clients’ needs and specific risks to client business
Works with coverage bankers to develop client strategy focusing on existing and potential credit exposure and assists coverage banker in optimizing relationship through cross sell activities of debt products
Proactively identifies potential issues through sources and uses, capital structure analysis, market analysis, and income and expense underwriting for assigned projects
Prepares comprehensive executive summaries of the 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 mitigants
Creates and maintains financial models, operating expense analysis, and sensitivity analysis
Coordinates initial closing, internal department, and third-party review process
Responds to developer/investor inquiries, underwriting, and due diligence questions
Conducts site visits when necessary
Prepares Letters of Intent when necessary
Assists with special projects, equity payments, or other priorities as requested
Leads the credit process on identified debt product opportunities; ultimately accountable for structuring, underwriting, closing, and management of new and existing debt products for clients
Serves as the primary contact with Credit Risk
Oversees ongoing monitoring of existing portfolio by being accountable for periodic assessments and other servicing requirements
Offers advice and guidance to junior underwriters, assisting in the development of necessary skills and the promotion of continuous improvement initiatives
This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.
This position is incentive eligible.
Requirements
Bachelor’s degree in related field
Eight (8) years of underwriting and/or portfolio management experience
Advanced understanding of loan structuring needs, loan documentation requirements, and applicable market knowledge
Completion of a major corporate credit training program or equivalent corporate banking/finance experience
Experience in relationship management as a coverage banker or client-facing member of the team, as well as financial modeling experience
Experience and knowledge of applicable legal documents
Preferences
Knowledge of Affordable Housing or Low-Income Housing Tax Credit (LIHTC)
Skills and Competencies
Ability to research, analyze data, and derive facts
Ability to work in a team environment when applicable
Ability to work under pressure and meet deadlines
Demonstrated leadership capabilities
Proficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.)
Strong negotiation skills
Strong verbal, written communication, and organizational skills
Strong work ethic and self-motivation
This position will require a minimum of 4 days on-site, at our Atlanta, GA, Birmingham, AL, or Great Neck, NY office.
Compensation Details Pay 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.
The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.
Job Range Target: $145,456.08 USD
Minimum:
50th Percentile: $179,802.00 USD
Incentive 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. Opportunity to participate in the Long Term Incentive Plan.
Location: Atlanta, Georgia
Equal Opportunity Employer/including Disabled/Veterans
Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.
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At 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 Responsibilities
Works in support of the RAH banking team and adds value directly to client and coverage in articulating Regions’ underwriting methods, processes, and risk appetite for specific debt products
Creates and maintains financial models for affordable housing investments, which include schedules such as sources and uses, operating expense analysis, and sensitivity analysis
Identifies potential real estate finance issues through analysis and income and expense underwriting for each project assigned
Manages the due diligence checklist, gathers all required documents, reviews the documents, and notes any issues as appropriate; reviews tax credit and project due diligence including tax credit documents, real estate documents, market studies, appraisals, environmental reports, project approvals, and construction documents
Understands the background and experience of each development team member including sponsor/developer, general contractor, architect, property manager, project accountant, and support service agency (if applicable) as well as reviews references and conducts background checks
Reviews lower-tier partnership agreements, construction, and permanent loan documents while understanding the importance of each document and its relationship to the transaction
Maintains market knowledge of loan pricing and structural trends to match client needs with Regions’ debt product solutions
Calls jointly on clients with coverage bankers to understand clients’ needs and specific risks to client business
Works with coverage bankers to develop client strategy focusing on existing and potential credit exposure and assists coverage banker in optimizing relationship through cross sell activities of debt products
Proactively identifies potential issues through sources and uses, capital structure analysis, market analysis, and income and expense underwriting for assigned projects
Prepares comprehensive executive summaries of the 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 mitigants
Creates and maintains financial models, operating expense analysis, and sensitivity analysis
Coordinates initial closing, internal department, and third-party review process
Responds to developer/investor inquiries, underwriting, and due diligence questions
Conducts site visits when necessary
Prepares Letters of Intent when necessary
Assists with special projects, equity payments, or other priorities as requested
Leads the credit process on identified debt product opportunities; ultimately accountable for structuring, underwriting, closing, and management of new and existing debt products for clients
Serves as the primary contact with Credit Risk
Oversees ongoing monitoring of existing portfolio by being accountable for periodic assessments and other servicing requirements
Offers advice and guidance to junior underwriters, assisting in the development of necessary skills and the promotion of continuous improvement initiatives
This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.
This position is incentive eligible.
Requirements
Bachelor’s degree in related field
Eight (8) years of underwriting and/or portfolio management experience
Advanced understanding of loan structuring needs, loan documentation requirements, and applicable market knowledge
Completion of a major corporate credit training program or equivalent corporate banking/finance experience
Experience in relationship management as a coverage banker or client-facing member of the team, as well as financial modeling experience
Experience and knowledge of applicable legal documents
Preferences
Knowledge of Affordable Housing or Low-Income Housing Tax Credit (LIHTC)
Skills and Competencies
Ability to research, analyze data, and derive facts
Ability to work in a team environment when applicable
Ability to work under pressure and meet deadlines
Demonstrated leadership capabilities
Proficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.)
Strong negotiation skills
Strong verbal, written communication, and organizational skills
Strong work ethic and self-motivation
This position will require a minimum of 4 days on-site, at our Atlanta, GA, Birmingham, AL, or Great Neck, NY office.
Compensation Details Pay 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.
The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.
Job Range Target: $145,456.08 USD
Minimum:
50th Percentile: $179,802.00 USD
Incentive 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. Opportunity to participate in the Long Term Incentive Plan.
Location: Atlanta, Georgia
Equal Opportunity Employer/including Disabled/Veterans
Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.
#J-18808-Ljbffr