Sr. Manager, Community Finance, Underwriting

Company: Capital One
Location: Tenafly
Posted on: May 12, 2022

Job Description:

NYC 299 Park Avenue (22957), United States of America, New York, New YorkSr. Manager, Community Finance, UnderwritingCommunity Finance Underwriters seek to leverage our ability to bring debt and equity investment capital to our clients. The underwriter is responsible for evaluating and preparing investment recommendations for community investments, primarily through Low Income Housing Tax Credits (LIHTC) for Capital One. This role will focus on underwriting multi-investor funds and secondary LIHTC transactions. Additional scope of responsibilities includes performing due diligence and evaluating our tax credit syndicator partners. It is expected you will have a depth and breadth of knowledge and experience in LIHTC to provide leadership on the team and will evidence a high degree of competence in all facets of departmental operations.Our ideal candidate possesses strong presentation, influencing, verbal and written communication skills as well as a high level of attention to detail and the ability to work independently and as part of a team. Additionally the candidate will be skilled at identifying, evaluating and proposing solutions to manage risk.Responsibilities include:

• Expertise in evaluating LIHTC multi-investor and secondary market transactions including a deep understanding of: Low income housing tax credits (LIHTC), tax exempt bonds, funding from US Department of Housing and Urban development (HUD), and other state/local governmental financing sources.
• Independently assesses the risk profile of LIHTC funds including terms, structure, investor consent rights, and properties.
• Communicates information requirements to clients and other deal constituents. Serve as the central contact for provision of the requested data including maintaining the underwriting due diligence checklist.
• Analyzes affordable housing developments to identify primary sponsor, construction, conversion and operation risks and work with the syndicator to ensure adequate mitigants are in place.
• Independently completes and presents a written approval request that clearly and concisely outlines the details of the transaction, the underwriter's recommendation and the basis of the recommendation. The request will identify transaction strengths and mitigate weaknesses, and document bank compliance with internal and regulatory policies and procedures.
• Coordinates with the origination team on the review and analysis of transaction pricing, structuring and legal documentation.
• Evaluates tax credit syndicator partners including a review of the organization's people, policies, procedures, financial performance and portfolio track record.
• For Social Purpose type investments, model and analyze property pro-forma for impacts, availability of cash flow, amendment of legal documents, and tracking any necessary financing partner consents/approvals.
• Liaises with internal team representatives to ensure an efficient closing, initial funding and transfer of the transaction to the Portfolio Manager.
• Leverages industry expertise and market knowledge to serve as a mentor/coach to other members on the team; participates in external industry panels convened for problem-solving.
• Understands and employs all lending, investing and regulatory/compliance controls, policies, and procedures of the bank and the department.Basic Qualifications:
  • Bachelor's degree or military experience
  • At least 5 years of experience in business development or underwriting or asset management within the field of affordable house finance or commercial real estate---Preferred Qualifications:
    • Master of Business Administration (MBA) or Master's degree in Finance
    • At least 8 years of experience in business development or underwriting or asset management within the field of affordable house finance or commercial real estate
    • Strong interpersonal and communication skills
    • Proficiency with spreadsheets and data analysis
    • Experience working with legal counselAt this time, Capital One will not sponsor a new applicant for employment authorization for this position.No agencies please. Capital One is an Equal Opportunity Employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, age, national origin, religion, physical and mental disability, genetic information, marital status, sexual orientation, gender identity/assignment, citizenship, pregnancy or maternity, protected veteran status, or any other status prohibited by applicable national, federal, state or local law. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.comCapital One does not provide, endorse nor guarantee and is not liable for third-party products, services, educational tools or other information available through this site.Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).

Keywords: Capital One, Tenafly , Sr. Manager, Community Finance, Underwriting, Accounting, Auditing , Tenafly, New Jersey