Loan Underwriter, Community Facilities

Job Summary: Cinnaire’s New Markets Tax Credit (NMTC) program focuses private investment on transformative projects in the most underestimated communities within our footprint. We look for opportunities to promote economic advancement in communities by supporting the provision of critical services such as vocational training, education, and childcare.

A Loan Underwriter, Community Facilities evaluates community facilities loans and investments, including NMTC allocations and leverage loans, to assess the associated risks and mitigants. Generally, this includes ensuring that the proposed loan or investment is sound, appropriately sized, properly secured, adheres to underwriting guidelines, and that it will provide positive financial and social impacts as underwritten.

Essential Duties and Responsibilities:

1. Underwrites community facilities loans and investments, including NMTC allocations and leverage loans, ensuring that the project sponsor has the necessary skills and experience assembled in the project team to carry out the project.
2. Oversees the collection and review of due diligence documents.
3. Analyzes routine to moderately complex financial statements and financial models.
4. Assesses the project sponsor’s financial statements, including review and analysis of balance sheets, income statements, operating budgets, cash flow projections, audits, and tax returns.
5. Assesses the validity of revenue and expenses related to expanded program delivery.
6. Analyzes the feasibility of growth projections based on the market where the project will be located.
7. Identifies risk factors of the proposed loan or investment that differ from standard underwriting criteria and proposes appropriate mitigants or potential structural enhancements to reduce risk.
8. Effectively communicates credit issues to the Director, Loan Underwriting and Senior Vice President, Public Funding.
9. Prepares write-ups and presents the proposed allocation and/or loan to the loan committee for consideration.
10. Updates project information in pipeline management system.
11. Efficiently transitions the loan or investment to the closing team.
12. Participates in transition meetings on closed loans or investments.
13. Performs due diligence site visits as needed.
14. Participates in industry activities, including industry conferences, trade shows, education opportunities, and other events that benefit Cinnaire NMTC business relationships.
15. Maintains business relationships with investors, other CDFIs and CDEs, accountants, attorneys, consultants, and any other related parties.

Qualifications and Skills:

• Bachelor’s degree in Finance, Accounting, Economics, Business, or Real Estate/Urban Planning. Course work in finance preferred.
• Previous experience with underwriting and/or structuring community development and/or community facilities loans or tax credit investments.
• Ability to interpret and analyze nonprofit and for-profit financial statements.
• Excellent communication, organizational, and interpersonal skills.
• The ability to work under tight deadlines, manage priorities, and complete assigned tasks with minimal oversight.
• Keen analytical skills and attention to detail.
• Strong Microsoft Office Suite skills required.

Key Competencies:

• Analysis to Synthesis: Interprets data and information from multiple sources and translates it into coherent messages that inform decisions.
• Intellectual Agility: Can flex and adapt thinking skills to meet the needs of different situations and circumstances. Doesn’t limit problem solving to one approach or methodology.
• Perseverance: Accepts uncertainty by remaining focused and engaged on assignments. Looks for plausible solutions to difficult problems.
• Insight to Action: Acts on conviction and advances from concept to implementation toward a goal. Draws upon knowledge and professional judgement to orchestrate the steps required to get results.
• Diversity Awareness: Identifies the benefits and advantages of harnessing the collective insights from various individuals in the organization.

Reporting Relationship: Reports to Director, Loan Underwriting

Supervisory Relationship: None

Physical Requirements:

• The ability to sit at a computer for extended periods of time.

Travel Required: Up to 15%

Benefits Offered:  Medical, Health Reimbursement Account, Flexible Spending Accounts (medical and dependent care), Dental, Vision, Life Insurance, Accidental Death & Dismemberment, Long-Term Disability, Employee Assistance Plan, Pet Insurance, Identity Theft Protection, Paid Mobile Phone Service, Unlimited PTO, Incentive Compensation, 403(b) Plan, and Profit-Sharing Plan.