Underwriter Affordable Housing
Beneficial State Bank, Oakland, California, United States, 94616
Our ideal candidate
We are seeking candidates deeply committed to our mission: to transform the banking industry from within. We lead by example, collaborate with and invest in change‑makers and build sustainable prosperity in our communities.
Who we are Beneficial State is one of only a handful of B‑Corp banks in the nation and one of the highest‑rated B‑Corps on the planet. That means that we subscribe to a rigorous evaluation standard that measures our positive impact, not just our profitability. We demonstrate how a bank can combine social equity, environmental sustainability, and business stability to create a better financial system – a system that drives inclusive prosperity to benefit people and the planet.
Join our team If you are ready to do challenging and transformative work that will build a brighter future for us all, and you are hungry to bring your passion and energy to the table, we welcome your application.
Position Overview The VP Underwriter on the Affordable Housing team is responsible for the underwriting and coordination in closing Affordable Housing loans originated by the bank. The position will support all the bank’s markets in California, Oregon, and Washington. The Affordable Housing Underwriter is also responsible for spreading, managing, and maintaining financial background of present and prospective customers, including performing financial statement analysis involving complex and interlocking relationships.
Essential Duties
Underwrite and coordinate closing a range of Affordable Housing and CRE loan structures and property types with an emphasis on multifamily and deed‑restricted affordable housing projects
Support quality control and consistency in the underwriting of new and existing business by being the subject matter expert on forms and underwriting process of Affordable Housing and CRE loans
Stay current with current Affordable Housing and CRE lending programs and requirements
Stay current with national, regional, and local industry trends that may impact customers or the communities the bank serves
Ensure compliance with all state and federal regulations and internal company policies, including but not limited to BSA Anti‑Money Laundering, Fair Lending, Privacy, and Anti‑Discrimination
May act as the liaison between Affordable Housing/CRE team and Credit team
ENVIRONMENT AND PHYSICAL ACTIVITY The incumbent is in a non‑confined office‑type setting in which they are free to move about at will. The position may include driving a personal or company owned vehicle approximately ≥5% of the time which includes exposure to the outside weather elements and moving mechanical parts. It may include some minor annoyances such as noise, odors, drafts, etc. The incumbent while performing this position spends time writing, typing, speaking, listening, lifting (up to 25 pounds), driving, carrying, seeing, sitting, pulling, walking, standing, squatting, kneeling, and reaching. The incumbent for this position may operate any or all of: computer, telephone, cellular telephone, copy and fax machines, calculator, video conferencing equipment, and other office productivity machinery. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
MENTAL DEMANDS The incumbent in this position must be able to accommodate reading documents or instruments, detailed work, problem solving, customer contact, reasoning, math, language, presentations, verbal and written communication, analytical reasoning, stress, multiple concurrent tasks, and constant interruptions.
Minimum Qualifications
5+ years of CRE underwriting and analysis experience in a financial institution or banking environment
Demonstrated expertise in the core business of Affordable Housing Lending
Demonstrated knowledge of Multifamily loan programs
Experience with underwriting construction and permanent debt for affordable housing projects financed through the LIHTC program
Understanding of the regulations that govern multifamily and affordable housing lending and investing
Experience evaluating developers and equity sponsors
Familiar with CoStar or other appraisal and environmental due diligence reports
Must be able to work independently
Compensation The posted pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role but may include ranges from the different geographies where this position may be based. New employees' starting pay is usually from the start of the range to approximately 25% of the max, more qualified and/or experienced employees may start near the middle of the range for their geography. We may ultimately pay more or less than this range. Compensation for our organization is based on factors that include the role, required knowledge, skills, abilities and competencies, and candidates’ relevant education, qualifications, certifications, experience, skills, seniority, location, performance, union contract and business needs. Our pay ranges are based on national living wage indexes, such as MIT's living wage index, to enable us to pay our employees beyond what are standard practices for many employers, and also take into account geographically‑specific recent compensation market survey data for each position.
Benefits Beneficial State Bank’s benefits include a comprehensive package designed to support you and your eligible dependents. We focus on the holistic health of our team members and promote work‑life balance.
Our Benefit Package Includes
Medical / Dental / Vision / Basic Life / STD / LTD
Vacation Days: 2-4 weeks depending on role
Sick Days: 12 days per year
Holidays: 11 days per year
401(K) / ROTH / FSA / HSA / EAP
Education and Adoption Assistance
Bank‑Wide Annual Discretionary Bonus Program
Production‑based incentive program available for some roles.
Paid Volunteer Time: 4 days per year / annual match of qualifying employee donations
Paid Sabbatical Program after 5 years of service
Pet Benefits
For detailed information about our benefits, please visit http://www.beneficialstatebank.com/about-us/careers
EEO Statement You are welcome here at Beneficial State Bank. We are an equal opportunity employer and all qualified applicants will receive consideration for employment regardless of race, color, religion, sex, sexual orientation, national origin, gender identity, disability or veteran status.
#J-18808-Ljbffr
Who we are Beneficial State is one of only a handful of B‑Corp banks in the nation and one of the highest‑rated B‑Corps on the planet. That means that we subscribe to a rigorous evaluation standard that measures our positive impact, not just our profitability. We demonstrate how a bank can combine social equity, environmental sustainability, and business stability to create a better financial system – a system that drives inclusive prosperity to benefit people and the planet.
Join our team If you are ready to do challenging and transformative work that will build a brighter future for us all, and you are hungry to bring your passion and energy to the table, we welcome your application.
Position Overview The VP Underwriter on the Affordable Housing team is responsible for the underwriting and coordination in closing Affordable Housing loans originated by the bank. The position will support all the bank’s markets in California, Oregon, and Washington. The Affordable Housing Underwriter is also responsible for spreading, managing, and maintaining financial background of present and prospective customers, including performing financial statement analysis involving complex and interlocking relationships.
Essential Duties
Underwrite and coordinate closing a range of Affordable Housing and CRE loan structures and property types with an emphasis on multifamily and deed‑restricted affordable housing projects
Support quality control and consistency in the underwriting of new and existing business by being the subject matter expert on forms and underwriting process of Affordable Housing and CRE loans
Stay current with current Affordable Housing and CRE lending programs and requirements
Stay current with national, regional, and local industry trends that may impact customers or the communities the bank serves
Ensure compliance with all state and federal regulations and internal company policies, including but not limited to BSA Anti‑Money Laundering, Fair Lending, Privacy, and Anti‑Discrimination
May act as the liaison between Affordable Housing/CRE team and Credit team
ENVIRONMENT AND PHYSICAL ACTIVITY The incumbent is in a non‑confined office‑type setting in which they are free to move about at will. The position may include driving a personal or company owned vehicle approximately ≥5% of the time which includes exposure to the outside weather elements and moving mechanical parts. It may include some minor annoyances such as noise, odors, drafts, etc. The incumbent while performing this position spends time writing, typing, speaking, listening, lifting (up to 25 pounds), driving, carrying, seeing, sitting, pulling, walking, standing, squatting, kneeling, and reaching. The incumbent for this position may operate any or all of: computer, telephone, cellular telephone, copy and fax machines, calculator, video conferencing equipment, and other office productivity machinery. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
MENTAL DEMANDS The incumbent in this position must be able to accommodate reading documents or instruments, detailed work, problem solving, customer contact, reasoning, math, language, presentations, verbal and written communication, analytical reasoning, stress, multiple concurrent tasks, and constant interruptions.
Minimum Qualifications
5+ years of CRE underwriting and analysis experience in a financial institution or banking environment
Demonstrated expertise in the core business of Affordable Housing Lending
Demonstrated knowledge of Multifamily loan programs
Experience with underwriting construction and permanent debt for affordable housing projects financed through the LIHTC program
Understanding of the regulations that govern multifamily and affordable housing lending and investing
Experience evaluating developers and equity sponsors
Familiar with CoStar or other appraisal and environmental due diligence reports
Must be able to work independently
Compensation The posted pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role but may include ranges from the different geographies where this position may be based. New employees' starting pay is usually from the start of the range to approximately 25% of the max, more qualified and/or experienced employees may start near the middle of the range for their geography. We may ultimately pay more or less than this range. Compensation for our organization is based on factors that include the role, required knowledge, skills, abilities and competencies, and candidates’ relevant education, qualifications, certifications, experience, skills, seniority, location, performance, union contract and business needs. Our pay ranges are based on national living wage indexes, such as MIT's living wage index, to enable us to pay our employees beyond what are standard practices for many employers, and also take into account geographically‑specific recent compensation market survey data for each position.
Benefits Beneficial State Bank’s benefits include a comprehensive package designed to support you and your eligible dependents. We focus on the holistic health of our team members and promote work‑life balance.
Our Benefit Package Includes
Medical / Dental / Vision / Basic Life / STD / LTD
Vacation Days: 2-4 weeks depending on role
Sick Days: 12 days per year
Holidays: 11 days per year
401(K) / ROTH / FSA / HSA / EAP
Education and Adoption Assistance
Bank‑Wide Annual Discretionary Bonus Program
Production‑based incentive program available for some roles.
Paid Volunteer Time: 4 days per year / annual match of qualifying employee donations
Paid Sabbatical Program after 5 years of service
Pet Benefits
For detailed information about our benefits, please visit http://www.beneficialstatebank.com/about-us/careers
EEO Statement You are welcome here at Beneficial State Bank. We are an equal opportunity employer and all qualified applicants will receive consideration for employment regardless of race, color, religion, sex, sexual orientation, national origin, gender identity, disability or veteran status.
#J-18808-Ljbffr