Community Development Finance Underwriter

Santander

2d•$71,250 - $125,000

About The Position

Santander is a global leader and innovator in the financial services industry and is evolving from a high-impact brand into a technology-driven organization. Our people are at the heart of this journey and together, we are driving a customer-centric transformation that values bold thinking, innovation, and the courage to challenge what’s possible. This is more than a strategic shift. It’s a chance for driven professionals to grow, learn, and make a real difference. If you are interested in exploring the possibilities We Want to Talk to You! The Community Development Finance Underwriter is responsible for underwriting community development equity investments and loans for the Company's Community Reinvestment Act (CRA) Program. Will manage complex commercial accounts that meet the Company's community development investment and loan requirements and maximizes profitability while minimizing risk. Will be the primary credit contact for new, complex community development transactions including Low-Income Housing Tax Credit (LIHTC), New Market Tax Credit and Small Business Investment Company investments, Community Development Financial Institution (CDFI) loans and LIHTC lending. Leads the due diligence process on new investments and loans including conducting due diligence and financial analysis and working with credit professionals to produce summary memos for new investments and loans. Develops and maintains relationships with community based organizations, public sector leaders and private sector organizations developing affordable housing and economic development projects. Identifies, evaluates, structures and documents new investments and loans. Performs site visits to investment opportunities. Works with credit, compliance, and internal and external auditors to ensure investments and loans are originated and managed within policy and applicable laws and regulations. Monitors transactions within assigned portfolios, in partnership with Finance, portfolio management and underwriting, and takes action as appropriate. Ensures own work is in compliance with applicable laws, regulations and guidelines, as detailed in policies located on the Company Intranet; policies include but are not limited to Fair Lending, Know Your Customer, Bank Secrecy Act and other applicable anti-money-laundering policies. Ensures documentation complies with internal policies and procedures and facilitates management and regulatory reporting. Participates in preparing, interpreting and communicating periodic self-assessments of the Company's Community Development Finance portfolio.

Requirements

3-5+ Years experience in affordable housing, economic development or other community development origination, underwriting or portfolio management.
Extensive experience developing and structuring community development finance transactions including LIHTC, NMTC or CDFI lending and investment.
Bachelor's Degree or equivalent work experience: Finance, Business, Political Science or other equivalent field - Required.
3-5+ Years experience in similar role.
Excellent, sales, persuasion and negotiation skills required to represent the Company's interests in negotiations.
Demonstrated ability to manage public/private partnerships including excellent project management skills, and the ability to build relationships across public, private and not-for-profit sectors.
In-depth knowledge of CRA and Fair Lending regulations required, including HMDA and ECOA.
Ability to communicate the organizational CRA strategies, goals, current needs and risk/reward appetite for community development loans and investments to market leadership and business unit managers.

Nice To Haves

Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education.
Experience in Microsoft Office products.

Responsibilities

Underwriting community development equity investments and loans for the Company's Community Reinvestment Act (CRA) Program.
Managing complex commercial accounts that meet the Company's community development investment and loan requirements and maximizes profitability while minimizing risk.
Being the primary credit contact for new, complex community development transactions including Low-Income Housing Tax Credit (LIHTC), New Market Tax Credit and Small Business Investment Company investments, Community Development Financial Institution (CDFI) loans and LIHTC lending.
Leading the due diligence process on new investments and loans including conducting due diligence and financial analysis and working with credit professionals to produce summary memos for new investments and loans.
Developing and maintaining relationships with community based organizations, public sector leaders and private sector organizations developing affordable housing and economic development projects.
Identifying, evaluating, structuring and documenting new investments and loans.
Performing site visits to investment opportunities.
Working with credit, compliance, and internal and external auditors to ensure investments and loans are originated and managed within policy and applicable laws and regulations.
Monitoring transactions within assigned portfolios, in partnership with Finance, portfolio management and underwriting, and takes action as appropriate.
Ensuring own work is in compliance with applicable laws, regulations and guidelines, as detailed in policies located on the Company Intranet; policies include but are not limited to Fair Lending, Know Your Customer, Bank Secrecy Act and other applicable anti-money-laundering policies.
Ensuring documentation complies with internal policies and procedures and facilitates management and regulatory reporting.
Participating in preparing, interpreting and communicating periodic self-assessments of the Company's Community Development Finance portfolio.