Thank you for your interest in a career at Regions. At Regions, we believe associates deserve more than just a job. We believe in offering performance-driven individuals a place where they can build a career --- a place to expect more opportunities. If you are focused on results, dedicated to quality, strength and integrity, and possess the drive to succeed, then we are your employer of choice.
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Job Description:
At 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. This position will also work 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 Responsibilities
Creates and maintains financial models for affordable housing investments, which includes schedules such as sources and uses, operating expense analysis, and sensitivity analysis
Manages 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 documents
Understands 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) as well as reviews references and conducts background checks
Reviews lower-tier partnership agreements, construction, and permanent loan documents while understanding the importance of each document and its relationship to the transaction
Prepares 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 mitigants
Coordinates the initial closing, internal department, and third-party review process
Responds to developer/investor inquiries, underwriting, and due diligence questions
Conducts site visits when necessary
Prepares Letters of Intent when necessary
Assists with special projects, equity payments, or other priorities as requested
Serves as the primary contact with Credit Risk
Conducts ongoing portfolio monitoring and servicing
Develops 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/mitigants
Conducts analyses of guarantors as needed to support credit underwriting
Prepares 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 driver
Offers advice and guidance to junior underwriters, assisting in the development of necessary skills and the promotion of continuous improvement initiatives
This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.
This position is incentive eligible.
Requirements
Bachelor's degree in a related field
Six (6) years of underwriting and/or portfolio management experience
Completion of a major corporate credit training program or equivalent corporate banking/finance experience
Proven ability to competently complete credit packages and credit servicing agreements under limited supervision
Preferences
Knowledge of Affordable Housing or Low-Income Housing Tax Credit (LIHTC)
Skills and Competencies
Ability to research, analyze data, and derive facts
Ability to work in a team environment when applicable
Ability to work under pressure and meet deadlines
Demonstrated leadership capabilities
Proficiency in Microsoft Office (Excel, Word, PowerPoint, Outlook, etc.)
Strong negotiation skills
Strong organizational skills
Strong verbal and written communication skills
Strong work ethic and self-motivation
This position will require a minimum of 4 days on-site, at our Atlanta, GA, Birmingham, AL, or Great Neck, NY office.
Position Type
Full time
Compensation Details
Pay 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.
The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.
Job Range Target:
Minimum:
$135,150.14 USD
Median:
$167,457.20 USD
Incentive Pay Plans:
This 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.
Benefits Information
Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates. (https://www.regions.com/about-regions/benefits/benefits-eligibility) Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.
Paid Vacation/Sick Time
401K with Company Match
Medical, Dental and Vision Benefits
Disability Benefits
Health Savings Account
Flexible Spending Account
Life Insurance
Parental Leave
Employee Assistance Program
Associate Volunteer Program
Please 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 click or copy the link below to your browser.
https://www.regions.com/about-regions/welcome-portal/benefits
Location Details
Regions Affordable Housing - NY
Location:
Great Neck, New York
Equal Opportunity Employer/including Disabled/Veterans
Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.
