Credit, Director

Overview

The organization is seeking a Director, Credit to analyze risk related to affordable rental housing investments utilizing Low-Income Housing Tax Credit (LIHTC) financing. This role is part of a fast-paced Credit department that works closely with other areas of the organization.

Responsibilities require expertise in financial structuring, real estate development, market analysis, sponsor review, tax matters, and business processes. The position demands time-sensitive work with careful attention to detail, conscientiousness, creativity, and flexibility, along with the ability to collaborate to evaluate transactions thoughtfully and make risk-related recommendations.

Responsibilities

• Review and evaluate Preliminary Investment Reviews (PIRs), Market Analysis (MAs), Investment Analysis (IAs), Closing Memos, and all supporting documentation for proposed investments.
• Serve as a resource throughout the acquisition and underwriting process to evaluate risk factors.
• Provide Credit oversight for investor documentation and third-party legal review as required for fund closing and/or deal placement.
• Contribute to the organization’s knowledge of evolving risk issues and industry responses.
• Perform sponsor capacity evaluations for new and high-volume partners as needed.
• Interact with investors as needed.
• Participate in site visits as needed.
• Support Credit’s other general duties, including:
  • Manage external resources such as REIS and ESRI accounts and third-party market analysts.
  • Maintain and update policies and procedures.
  • Support the sponsor financial review process during peak periods.
  • Assist with process improvement and document maintenance for the IA and MA forms.
  • Provide training and support to new Underwriters and Analysts.
  • Consult with Syndication Associates on risk issues related to due diligence.

Requirements

• Bachelor’s Degree in Urban Planning, Finance, or equivalent and 10+ years’ relevant experience, or Master’s degree and 5+ years’ relevant experience.
• Excellent analytical skills and knowledge of LIHTC equity underwriting and other multifamily real estate feasibility analyses.
• Ability to communicate effectively in both written and verbal forms.
• Ability to maintain positive, productive working relationships with both internal and external partners.
• Proven ability to coordinate complex activities, prioritize conflicting demands, and meet deadlines.
• Highly motivated, able to work independently, and available to work evening and weekend hours during peak periods.
• Willingness to travel as needed.
• Incumbent is expected to demonstrate a high level of ethics.

Compensation & Benefits

• Pay range: $140,000 – $175,000
• This salary range represents the low and high end of what may be paid for this position. It is not typical for an individual to be hired at or near the top of the pay range. Compensation decisions may be influenced by skills, qualifications, experience, and location.

Additional benefits include:

• Annual performance bonuses and generous paid leave programs
• Dental, health, and vision care plans
• Family-building benefits such as adoption and surrogacy support
• Flexible work arrangements to support work-life balance
• Health advocacy, Employee Assistance Program (EAP), and mental health benefits
• Financial education, wellness programs
• Auto-enrollment in the organization’s 401(k) plan with employer matching contributions
• Learning and development opportunities, including tuition reimbursement for job-related courses and certifications

Location

Offices are available across the country.