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
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