Senior Underwriter

National Church Residences

Title: Senior Underwriter

Corporate: Acquisitions & Development

Status: Exempt

Reports to: Senior Director, Affordable Housing Development

Revision date: 11/2018

Supervises: N/A

PURPOSE

According to the prescribed policies and procedures of the organization including all applicable federal, state and local regulations and under the general supervision of the Senior Director of Affordable Housing Development, this position will assume responsibility for financial analysis, modeling of development opportunities, loan closings and loan conversions, ad hoc reporting including construction period reporting and FHA loan draws, 8609 packages, and interface directly with HUD, lenders, equity providers, auditors and other 3rd parties on Development matters.

ESSENTIAL FUNCTIONS

• Generate and manage financial models for the development team including, without limitation, 4% and 9% tax credit models. Continuously communicate with (and support) Project Leaders and financial partners to update same.
• Perform and analyze stress tests on above models (ex evaluate impact of rising interest rates, falling rents, increased vacancies, etc.)
• Responsible for quality control of tax credit financial models (ie, manage models regarding underwriting integrity and project budgets)
• Responsible for tracking and updating all organizational guarantees, in conjunction with the Controller.
• Responsible for the coordination and submission of all 8609 packages to applicable State Agencies in partnership with the Development Department Accounting Manager and other team members.
• Assist the Director of Closings with final loan closings and underwrite, coordinate and submit all loan conversion packages.
• Support the Accounting Manager and construction accounting staff on various investor, lender, and state agency requests. Interface directly with outside parties on development finance matters.
• Performs other duties as assigned, including ad hoc and construction period reporting.
• Assumes responsibility for related duties as required or assigned.
• Manages relationships, both internally and externally exercising appropriate communication and interpersonal skills.
• Completes assigned training.

EXPECTATIONS

• Demonstrates and maintains a positive, professional manner, manages time efficiently and effectively, provides leadership as a role model to promote a team approach, and participates in appropriate problem solving methods.

• All responsibilities are carried out in a manner consistent with National Church Residences Core Values of Mission, Compassion, Leadership and Professionalism

• Must adhere to all policies, procedures, terms and conditions set forth in the National Church Residences Employee Information Guide (EIG) as well as any facility handbook including but not limited to corporate compliance, drug free workplace, safe work practices, all federal, state, local regulations and laws.

• Performs other duties as assigned.

Education: College degree required in applicable field; finance degree and/or masters preferred.

Experience: 2-10 years of finance experience, preferably in affordable housing programs. Must have strong modeling/Excel skills and working knowledge of Windows, Microsoft Office Suite, and World Wide Web. Real estate/development knowledge preferred. Demonstrates and maintains a positive, professional manner, manages time efficiently and effectively. Applicant must possess strong problem solving and critical thinking skills.

Mental: Must have good communication, comprehension, computer and interpersonal skills. Must have the ability to speak, read, write and understand English.

Licensure: None.

Vision: The degree of hand and eye coordination as applied to job requirements that induce visual strain. Normal: Consistent with standard workflow.

With respect to said job description, estimate the daily time spent performing the following activities.

Rare (R) = 0-24%; Sometimes (S) = 25-49%; Frequent (F) = 50-74%; Continuous (C) = 75% plus

R = Climbing R= Stooping

Lifting / Carrying; S = 10-25 lbs.

S = Standing R = Pushing R = 26-50 lbs.

C = Sitting R = Pulling R = 51-75 lbs.

S = Walking S = Driving R = 76 plus lbs.

Consequences of Errors: Moderate monetary responsibility.

Supervision Received: General supervision: Employee generally operates by himself/herself checking with supervisor when in doubt.

Working Conditions: Acceptable; some distractions. Limited travel is required.

ACKNOWLEDGEMENT

I hereby understand and agree to the above description of the duties required.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, ancestry, military status, disability, genetic information and/or any other characteristics protected by applicable law.