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Santander · 2 months ago

Community Development Finance Underwriter

Madison Ave Corp

Full-time

Onsite

Mid, Senior Level

$71K/yr - $122K/yr

5+ years exp

Santander is a global leader and innovator in the financial services industry. The Associate, Community Development Finance Underwriter is responsible for underwriting community development equity investments and loans for the Company's Community Reinvestment Act (CRA) Program, managing complex commercial accounts, and ensuring compliance with applicable laws and regulations.

BankingCommercial LendingFinanceFinancial ServicesPersonal Finance

Comp. & Benefits

Responsibilities

Leads the due diligence process on new investments and loans including conducting due diligence and financial analysis and working with credit professionals to produce summary memos for new investments and loans

Develops and maintains relationships with community based organizations, public sector leaders and private sector organizations developing affordable housing and economic development projects

Identifies, evaluates, structures and documents new investments and loans. Performs site visits to investment opportunities

Works with credit, compliance, and internal and external auditors to ensure investments and loans are originated and managed within policy and applicable laws and regulations

Monitors transactions within assigned portfolios, in partnership with Finance, portfolio management and underwriting, and takes action as appropriate

Ensures own work is in compliance with applicable laws, regulations and guidelines, as detailed in policies located on the Company Intranet; policies include but are not limited to Fair Lending, Know Your Customer, Bank Secrecy Act and other applicable anti-money-laundering policies

Ensures documentation complies with internal policies and procedures and facilitates management and regulatory reporting

Participates in preparing, interpreting and communicating periodic self-assessments of the Company's Community Development Finance portfolio

Qualification

Community development financeUnderwritingLIHTC transactionsCRA regulationsProject managementPublic/private partnershipsMicrosoft OfficeNegotiation skills

Required

5+ Years Experience in affordable housing, economic development or other community development origination, underwriting or portfolio management

Extensive experience developing and structuring community development finance transactions including LIHTC, NMTC or CDFI lending and investment

Bachelor's Degree or equivalent work experience: Finance, Business, Political Science or other equivalent field

5+ Years Experience in similar role

Excellent, sales, persuasion and negotiation skills required to represent the Company's interests in negotiations

Demonstrated ability to manage public/private partnerships including excellent project management skills, and the ability to build relationships across public, private and not-for-profit sectors

In-depth knowledge of CRA and Fair Lending regulations required, including HMDA and ECOA

Ability to communicate the organizational CRA strategies, goals, current needs and risk/reward appetite for community development loans and investments to market leadership and business unit managers