Regions Affordable Housing Underwriter (LIHTC)
Company: Regions Bank
Location: Birmingham
Posted on: January 24, 2023
Job Description:
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.Regions is dedicated to taking appropriate steps to
safeguard and protect private and personally identifiable
information you submit. The information that you submit will be
collected and reviewed by associates, consultants, and vendors of
Regions in order to evaluate your qualifications and experience for
job opportunities and will not be used for marketing purposes,
sold, or shared outside of Regions unless required by law. Such
information will be stored in accordance with regulatory
requirements and in conjunction with Regions' Retention Schedule
for a minimum of three years. You may review, modify, or update
your information by visiting and logging into the careers section
of the system.Job Description:At Regions, the RAH (Regions
Affordable Housing) Affordable Housing Underwriter serves as part
of the first line of defense, evaluating and underwriting
development partners and guarantors associated with housing tax
credit investments to ensure each supports Regions' objectives and
meets or exceeds net worth and liquidity 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 support the broader 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 individual
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
- Works in support of the RAH team and adds value directly to
client and coverage in articulating Regions' underwriting
requirements for developers and guarantors of housing tax credit
properties, including the analysis of complex guarantor and
business structures as well as the collection and analysis of
background checks
- Creates and maintains guarantor analyses, including ongoing
conformance to annual guarantor financial condition
requirements.
- Manages the guarantor requirement checklist, gathers all
required documents, reviews the documents, and notes any issues as
appropriate; 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.
- Proactively identifies potential guarantor issues and alerts
the RAH team
- Prepares comprehensive summaries of the information gathered
and analyzed as part of the investment/loan approval process; is
available to respond to specific inquiries of approvers.
- Oversees ongoing monitoring of existing portfolio by being
accountable for periodic assessments and other servicing
requirements
- Offers advice and guidance about underwriting specific aspects
of the development team and the guarantor analysis to others on the
RAH transaction team
- Articulates issues associated with financial statements and to
assess whether RAH financial and background requirements are
metThis 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 related field
- Prior experience with analyzing complex financial statements
for corporate entities, real estate operators, developers, and
guarantors
- Completion of a major corporate credit training program or
equivalent corporate banking/finance experiencePreferences
- 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
- Proficiency in Microsoft Office (Excel, Word, PowerPoint,
Outlook, etc.)
- Strong verbal, written communication, and organizational
skills
- Strong work ethic and self-motivationThis position can be
located at Regions Birmingham, AL; Atlanta, GA; or Great Neck, NY
office locations. Daily (M-F), on-site attendance is
required.Position TypeFull timeCompensation DetailsPay 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 national range and level
of the position.Job Range Target:Minimum:$51,671.50
USDMedian:$74,710.00 USDIncentive 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 InformationRegions
offers a benefits package that is flexible, comprehensive and
recognizes that "one size does not fit all" for associates. 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 ProgramPlease 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.Location
DetailsRegions Center - BirminghamLocation:Birmingham, AlabamaBring
Your Whole Self to Work We have a passion for creating an inclusive
environment that promotes and values diversity of race, color,
national origin, religion, age, sexual orientation, gender
identity, disability, veteran status, genetic information, sex,
pregnancy, and many other primary and secondary dimensions that
make each of us unique as individuals and provide valuable
perspective that makes us a better company and employer. More
importantly, we recognize that creating a workplace where everyone,
regardless of background, can do their best work is the right thing
to do. OFCCP Disclosure: Equal Opportunity
Employer/Disabled/Veterans
Keywords: Regions Bank, Birmingham , Regions Affordable Housing Underwriter (LIHTC), Accounting, Auditing , Birmingham, Alabama
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