| Job Description: |
The Senior Underwriter is responsible for evaluating applications for new credit and/or investment facilities in accordance with business unit standards. They will be expected to underwrite transactions in a highly efficient manner and without substantial management oversight. This role may be responsible for training and overseeing the work product of less experienced Underwriters. The incumbent will also perform other duties as necessary to support the goals and objectives of Community Development Finance and the larger Community Development or Corporate Affairs groups.
Responsibilities:
• Structure and underwrite credit and investment facilities in a manner which achieves the Bank's profitability and CRA goals while staying within the Bank's risk parameters.
o Obtain all financial and other information necessary to properly assess the risk of the credit or investment.
o Review and analyze the experience, capacity, financial condition (financial statements, tax returns, cash flow statements, real estate schedules, etc.) and other information (tax credit applications, applications for subordinate financing, etc.) on Borrowers, Guarantors, Sponsors, General Contractors, Property Management Firms, Counterparties or other involved parties to determine and document adequate ability to successfully complete the proposed transaction.
o Prepare complex property, project or business level pro-forma cash flow statements to properly size loan or investment requests and determine sensitivity to negative factors.
o Prepare complex property or project level capital budgets, funds flow analysis and sources and uses statements to properly size loan requests, document the adequacy of sources and understand timing of equity and subordinated debt injections.
o Obtain consensus agreement of the capital budget and transaction structure among all participating deal team members.
o Perform site due diligence, as applicable.
o Partner with in-house appraisal, environmental and engineering staff in ordering and reviewing third party reports.
o Determine the proper risk rating for all new facilities.
o Identify all credit or other policy exceptions or variances.
o Prepare written credit or investment approval memoranda and ancillary forms for complex credit or investment facilities.
o Partner with Loan Administration and outside counsel in the preparation, review and approval of loan or investment documentation to ensure the documents meet agreed upon business terms and satisfy the specific requirements of the appropriate credit or investment approval authority. As required, negotiate contentious issues with members of the deal team and counsel, and act as liaison for approval of these terms with Risk Management.
o Partner with Capital Officers, Portfolio Management and Loan Administration to assure a timely hand off of the loan or investment relationship in a manner that assures seamless service continuity to the client and alerts Portfolio Management and Loan Administration to all items of material interest or unusual structure of the new facility.
• Understand and employ all policies and procedures of the Bank and the line of business. Remain up-to-date on all bank compliance/regulatory policies and procedures and on all pending and proposed regulatory changes affecting bank compliance.
• Partner with Capital Officers to cultivate excellent client relationships. Exhibit a sense of urgency towards meeting client requests while also meeting acceptable risk parameters.
• Foster an open dialogue and strong working relationship with Risk Management, Loan Administration, Portfolio Management, Special Assets and other groups that support and review the line of business.
Additional Responsibilities - Affordable Housing:
• Possess and maintain a thorough knowledge of the affordable housing industry, including the numerous Federal, State and Local affordable housing programs and initiatives. These include direct lending; tax exempt bond underwriting and credit enhancement; tax credit allocation and syndication; provision and funding of subordinated financing such as HOME funds, AHP funds, community development block grants, tax increment reinvestment zone funds, among many others.
• Possess a thorough understanding of the roles, priorities, constituencies and governing bodies of major industry participants, including construction lenders, permanent lenders, syndicators, credit allocating agencies, developers, management companies and government agencies among others.
• Keep up to date on market and industry trends within the Bank's footprint.
• Obtain appropriate market, demographic or other information to support the proposed loan or investment.
Basic Qualifications:
• Bachelor's degree.
• At least 2 years experience underwriting community development loans or affordable housing investments; or 5+ years in commercial banking or related financial industry, with a focus on underwriting and credit analysis
Preferred Qualifications:
• Bachelor's degree in Finance or Accounting or Master's degree in Business.
• Underwriting and closing experience on affordable housing transactions with a leading bank or tax credit syndicator.
• Ability to convey technical information in a clear and concise manner in both oral and written form.
• Strong quantitative analysis skills.
• Ability to analyze and structure loan and investment transactions.
• Ability to understand and negotiate complex transactions and related legal documentation.
• Experience in managing client relationships
• Strong Excel skills.
• Familiarity with Community Reinvestment Act and related examination process.
• Ability to analyze and structure loan transactions.
• Ability to manage multiple tasks with varying degrees of complexity with strict timelines.
• Ability to travel.
Capital One will not file non-immigrant visa petitions for alien workers.
As a recipient of TARP funding subject to the ARRA, Capital One will not sponsor new H-1B petitions or transfer existing H1B visas for new hires to Capital One.
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