VP - Underwriter (Tax Credit Equity)

Berkadia•Philadelphia, PA

21d

About The Position

Berkadia Affordable Tax Credit Solutions, a division of one of the nation’s largest real estate firms, seeks a full-time real estate Vice President of Underwriting for its tax credit equity syndications team. The selected candidate will use specialized knowledge and skills obtained through training, education, and experience to oversee the analysis and underwriting of proposed multi-family real estate investments that qualify for low-income housing tax credits and will support the Acquisitions teams to take investments through the underwriting process from proposal letter to closing. The VP will report to the Head of Underwriting and be encouraged to lead, contribute and generate ideas during the transaction process within a team environment. We Innovate to shape the future of CRE, so in this role you will: Serve as lead contact and coordinator of all underwriting functions and dedicated underwriting personnel to ensure high quality and timely completion and review of due diligence including but not limited to market studies, operating expenses, loan documents, plan and cost reviews, environmental reports, and sponsor/guarantor analysis. Work with dedicated underwriting personnel to complete comprehensive credit approval packages. Present credit approval packages to Berkadia Affordable Tax Credit Solutions Investment Committee. Work with dedicated underwriting personnel on financial modeling and model updates. Serve as the primary contact for legal counsel during underwriting to ensure projects are meeting Berkadia Affordable Tax Credit Solutions policies and procedures as well as LIHTC guidelines. Participate in the establishment and implementation of policies, procedures and appropriate quality control measures. Identify and elevate issues that warrant additional investigation or may cause a delay in approval or closing. Interact with asset management, accounting, investor relations and acquisitions departments as well as developer and investor clients to ensure timely, efficient, and thorough servicing and closing of transactions. Manage client and vendor relationships. Coordinate special/new projects as assigned/appropriate. Other duties as assigned. We Stand for Excellence, so to achieve success in this role you should have: Strong analytical skills and ability to identify issues, draw logical conclusions, and interpret results for use in decision making with limited oversight. Must be detailed oriented, able to prioritize, meet tight deadlines, multi-task, have excellent organizational, verbal and written skills, and be able to work independently and collaboratively in a team environment. Strong working knowledge of financial modeling, cash flow analysis, and sensitivity analysis utilizing NPV and IRR. Understanding of general accepted accounting principles with respect to real estate and partnership structures is preferred. Communicate effectively both orally and in writing to convey information clearly and effectively through both formal and informal documents and project a positive, professional image both internally and with external business contacts. Ability to travel domestically as required. Bachelor's degree of equivalent work experience, 7-10 years in a similar position support tax credit equity underwriting

Requirements

Strong analytical skills and ability to identify issues, draw logical conclusions, and interpret results for use in decision making with limited oversight.
Must be detailed oriented, able to prioritize, meet tight deadlines, multi-task, have excellent organizational, verbal and written skills, and be able to work independently and collaboratively in a team environment.
Strong working knowledge of financial modeling, cash flow analysis, and sensitivity analysis utilizing NPV and IRR.
Communicate effectively both orally and in writing to convey information clearly and effectively through both formal and informal documents and project a positive, professional image both internally and with external business contacts.
Ability to travel domestically as required.
Bachelor's degree of equivalent work experience, 7-10 years in a similar position support tax credit equity underwriting

Nice To Haves

Understanding of general accepted accounting principles with respect to real estate and partnership structures is preferred.

Responsibilities

Serve as lead contact and coordinator of all underwriting functions and dedicated underwriting personnel to ensure high quality and timely completion and review of due diligence including but not limited to market studies, operating expenses, loan documents, plan and cost reviews, environmental reports, and sponsor/guarantor analysis.
Work with dedicated underwriting personnel to complete comprehensive credit approval packages.
Present credit approval packages to Berkadia Affordable Tax Credit Solutions Investment Committee.
Work with dedicated underwriting personnel on financial modeling and model updates.
Serve as the primary contact for legal counsel during underwriting to ensure projects are meeting Berkadia Affordable Tax Credit Solutions policies and procedures as well as LIHTC guidelines.
Participate in the establishment and implementation of policies, procedures and appropriate quality control measures.
Identify and elevate issues that warrant additional investigation or may cause a delay in approval or closing.
Interact with asset management, accounting, investor relations and acquisitions departments as well as developer and investor clients to ensure timely, efficient, and thorough servicing and closing of transactions.
Manage client and vendor relationships.
Coordinate special/new projects as assigned/appropriate.
Other duties as assigned.