Credit, Underwriter

Enterprise Community Partners

1d•$120,000 - $130,000

About The Position

The Underwriter, Credit will perform financial analyses of sponsors and guarantors of affordable rental housing developments utilizing Low-Income Housing Tax Credit (LIHTC) financing. The Underwriter, Credit will work in a fast-paced environment as part of the Credit department and alongside LIHTC Underwriters. Responsibilities require the application of the individual’s expertise with corporate and individual financial statements to evaluate the ability of sponsors and guarantors in LIHTC transactions to meet their ongoing performance and financial obligations. The Underwriter, Credit must be able to work in a time-pressured environment that demands attention to detail, conscientiousness, creativity, and flexibility. In addition to these attributes, the position requires an ability to work collaboratively with Credit and Underwriters to set the most appropriate range, depth and scope of analysis for each transaction and to make recommendations in response to any issues identified.

Requirements

BS Degree in Accounting, Finance, or equivalent and 5+ years’ experience required or Master’s degree and 2+ years’ experience.
Directly related experience in public accounting, auditing and/or financial analysis of real estate development companies or other corporate institutions.
Excellent analytical skills.
Ability to communicate well and maintain positive, productive working relationships with co-workers and outside partners.
Proven capacity to coordinate complex activities, prioritize conflicting demands, and to meet deadlines.
Must be highly motivated, be able to work independently, and be able to work evening and weekend hours during peak periods.
Incumbent is expected to demonstrate a high level of ethics.

Nice To Haves

Some knowledge of LIHTC equity underwriting or other real estate feasibility analysis preferred.

Responsibilities

Review financial statements and prepare a multi-year financial analysis spreadsheet for developers/guarantors of Enterprise’s LIHTC and predevelopment transactions.
Identify salient characteristics brought to light from the financial analysis spreadsheet and communicate findings and recommend follow-up items to the Underwriter, with a focus on identifying strengths and vulnerabilities in a developer’s financial condition and its ability to support guarantees.
Determine the most appropriate subject(s) of and level of analysis for a given transaction based on each party’s roles, respective financial capacity and other factors.
Analyze consolidated statements, reviewing the legal relationships, activities, assets and liabilities of consolidated entities to determine which entity or group of entities is to be evaluated and the form of such evaluation and presentation.
Explain and train staff on factors to consider in reviewing financials for all types of entities: for-profit, non-profit, individuals, and housing authorities.
Speak directly with Chief Financial Officers, Finance Directors, and other representatives of sponsors/guarantors, when needed, to better understand the information provided.
Assist with financial review policies and compliance with safeguarding of financial documents supporting our reviews.
Contribute to policies and procedures related to safeguarding financial documents supporting our reviews.
Perform other special tasks as assigned.

Benefits

annual performance bonuses
generous paid leave programs
dental, health, and vision care plans
family-building benefits such as adoption and surrogacy support
flexible work arrangements
health advocacy
Employee Assistance Program (EAP)
mental health benefits
financial education
wellness programs
auto-enrollment in the company’s 401(k) plan with employer matching contributions
learning and development opportunities
tuition reimbursement for job-related courses and certifications