Job DescriptionAt Regions, the RAH (Regions 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 and works 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 role 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 ResponsibilitiesCreates and maintains financial models for affordable housing investments, including schedules such as sources and uses, operating expense analysis, and sensitivity analysisManages 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 documentsUnderstands 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) and reviews references and conducts background checksReviews lower‑tier partnership agreements, construction, and permanent loan documents while understanding the importance of each document and its relationship to the transactionPrepares 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 mitigantsCoordinates the initial closing, internal department, and third‑party review processResponds to developer/investor inquiries, underwriting, and due diligence questionsConducts site visits when necessaryPrepares Letters of Intent when necessaryAssists with special projects, equity payments, or other priorities as requestedServes as the primary contact with Credit RiskConducts ongoing portfolio monitoring and servicingDevelops a strong working knowledge of and ensures compliance with internal bank commercial loan policy, credit risk management policy, and external regulatory requirements and documents any exceptions to policy and provides related rationale/mitigantsConducts analyses of guarantors as needed to support credit underwritingPrepares credit approval packages for 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 driverOffers advice and guidance to junior underwriters, assisting in the development of necessary skills and the promotion of continuous improvement initiativesThis 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 a related fieldSix (6) years of underwriting and/or portfolio management 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 supervisionPreferencesKnowledge of Affordable Housing or Low‑Income Housing Tax Credit (LIHTC)Skills 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 organizational skillsStrong verbal and written communication skillsStrong work ethic and self‑motivationPosition TypeFull 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.MinimumJob Range Target: $135,150.14 USDMedian$167,457.20 USDIncentive Pay PlansThis 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.Benefits InformationPaid Vacation/Sick Time401(k) 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 visit: DetailsRegions Affordable Housing - NYLocationGreat Neck, New YorkEqual Opportunity Employer/including Disabled/VeteransRegions is an equal opportunity employer.#J-18808-Ljbffr
