Santander Holdings USA Inc
New York City (Manhattan), New York
Community Development Finance Underwriter - AssociateCountry: United States of AmericaSummaryThe Associate, Community Development Finance Underwriter is responsible for assisting in originating new community development equity investments and loans for the Company's Community Reinvestment Act (CRA) Program. The incumbent will be responsible for underwriting and reviewing CRA qualifying equity investments and loans within the following asset classes: i) multifamily developments financed with Low Income Housing Tax Credits (LIHTC), ii) community development financial institutions (CDFIs), iii) real estate private equity funds, iv) Small Business Investment Corporations (SBIC), iv) New Markets Tax Credits (NMTC), and v) other qualifying assets for Santander Bank, N.A.'s CRA Program. The underwriting process formally assesses the risk of the proposed loans and investments and ensures they conform to Santander's credit risk management standards. Duties include analyzing due diligence items such as market trends, sponsor strength and financial projections; preparing credit write-ups and presenting to approval committees. In addition to the underwriting and review of investments and loans, the CDF Underwriter will also be responsible for monitoring and reporting the existing portfolio to stakeholders within the Bank. Duties & ResponsibilitiesPerform underwriting and credit analysis of CRA qualifying loans and investments; ensure transactions adhere to the Bank's credit policyPrepare approval memos for and presents to various credit committees on current and prospective loans and investmentsEnsures documentation complies with internal policies and procedures and facilitates management and regulatory reportingEnsures 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 policiesPerforms site visits related to new and current loans and investmentsLeads the due diligence process on new investments and loans including conducting due diligence and financial analysis and working with fellow credit professionals to produce summary memos for new investments and loansMonitor the risk profile of the portfolio including risk rating of loans and investments and enforces credit policy compliance, regulatory and legal compliance, credit transaction integrity and completeness of all transactionsKeeps abreast of overall trends and best practices in multifamily real estate and affordable housing. Review industry periodicals, Bank portfolio data and other materials/statistics to build and maintain current knowledge of factors that impact Bank's underwriting of its real estate investmentsParticipates in preparing, interpreting and communicating periodic self-assessments of the Company's Community Development Finance portfolioWorks with credit, compliance, and internal and external auditors to ensure investments and loans are originated and managed within policy and applicable laws and as a subject matter expert (SME) while providing leadership, guidance, and mentorship to other team membersQualificationsMust possess low income housing tax credit underwriting experience; knowledge of real estate investments and loans including community development financing such as Low-Income Housing Tax Credits, Multifamily Affordable Residential Construction Loans, Private Equity Funds, New Markets Tax Credits and Historic Tax Credits and CDFIsBachelor's Degree in finance, business, political science or other relevant field, or equivalent work experience3+ years of experience in affordable housing, economic development or other community development origination, underwriting or portfolio management roleStrong analytical and financial skills; knowledge of credit policy and asset management processesStrong verbal and written communication skills as well as strategic planning and management abilityAbility to work with third party accounting and legal consultants as well as sophisticated project development consultants and advisorsEducationBachelor's Degree or equivalent work experience: Finance, Business, Political Science or other equivalent field ReqSkills and AbilitiesExtensive experience developing and structuring community development finance transactions including LIHTC, NMTC or CDFI lending and investment.Excellent, sales, persuasion and negotiation skills required to represent the Company's interests in 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.Diversity & EEO StatementsAt Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.Working ConditionsFrequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.Employer RightsThis job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and Pay RangeMinimum:$69,375.00 USDMaximum:$121,250.00 USDPrimary Location: New York, NY, New YorkOther Locations: New York-New York,New York-New York,Massachusetts-BostonOrganization: Santander Bank N.A.
12/07/2024
Full time
Community Development Finance Underwriter - AssociateCountry: United States of AmericaSummaryThe Associate, Community Development Finance Underwriter is responsible for assisting in originating new community development equity investments and loans for the Company's Community Reinvestment Act (CRA) Program. The incumbent will be responsible for underwriting and reviewing CRA qualifying equity investments and loans within the following asset classes: i) multifamily developments financed with Low Income Housing Tax Credits (LIHTC), ii) community development financial institutions (CDFIs), iii) real estate private equity funds, iv) Small Business Investment Corporations (SBIC), iv) New Markets Tax Credits (NMTC), and v) other qualifying assets for Santander Bank, N.A.'s CRA Program. The underwriting process formally assesses the risk of the proposed loans and investments and ensures they conform to Santander's credit risk management standards. Duties include analyzing due diligence items such as market trends, sponsor strength and financial projections; preparing credit write-ups and presenting to approval committees. In addition to the underwriting and review of investments and loans, the CDF Underwriter will also be responsible for monitoring and reporting the existing portfolio to stakeholders within the Bank. Duties & ResponsibilitiesPerform underwriting and credit analysis of CRA qualifying loans and investments; ensure transactions adhere to the Bank's credit policyPrepare approval memos for and presents to various credit committees on current and prospective loans and investmentsEnsures documentation complies with internal policies and procedures and facilitates management and regulatory reportingEnsures 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 policiesPerforms site visits related to new and current loans and investmentsLeads the due diligence process on new investments and loans including conducting due diligence and financial analysis and working with fellow credit professionals to produce summary memos for new investments and loansMonitor the risk profile of the portfolio including risk rating of loans and investments and enforces credit policy compliance, regulatory and legal compliance, credit transaction integrity and completeness of all transactionsKeeps abreast of overall trends and best practices in multifamily real estate and affordable housing. Review industry periodicals, Bank portfolio data and other materials/statistics to build and maintain current knowledge of factors that impact Bank's underwriting of its real estate investmentsParticipates in preparing, interpreting and communicating periodic self-assessments of the Company's Community Development Finance portfolioWorks with credit, compliance, and internal and external auditors to ensure investments and loans are originated and managed within policy and applicable laws and as a subject matter expert (SME) while providing leadership, guidance, and mentorship to other team membersQualificationsMust possess low income housing tax credit underwriting experience; knowledge of real estate investments and loans including community development financing such as Low-Income Housing Tax Credits, Multifamily Affordable Residential Construction Loans, Private Equity Funds, New Markets Tax Credits and Historic Tax Credits and CDFIsBachelor's Degree in finance, business, political science or other relevant field, or equivalent work experience3+ years of experience in affordable housing, economic development or other community development origination, underwriting or portfolio management roleStrong analytical and financial skills; knowledge of credit policy and asset management processesStrong verbal and written communication skills as well as strategic planning and management abilityAbility to work with third party accounting and legal consultants as well as sophisticated project development consultants and advisorsEducationBachelor's Degree or equivalent work experience: Finance, Business, Political Science or other equivalent field ReqSkills and AbilitiesExtensive experience developing and structuring community development finance transactions including LIHTC, NMTC or CDFI lending and investment.Excellent, sales, persuasion and negotiation skills required to represent the Company's interests in 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.Diversity & EEO StatementsAt Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.Working ConditionsFrequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.Employer RightsThis job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and Pay RangeMinimum:$69,375.00 USDMaximum:$121,250.00 USDPrimary Location: New York, NY, New YorkOther Locations: New York-New York,New York-New York,Massachusetts-BostonOrganization: Santander Bank N.A.
Community Development Finance Underwriter - Associate Country: United States of America Summary The Associate, Community Development Finance Underwriter is responsible for assisting in originating new community development equity investments and loans for the Company's Community Reinvestment Act (CRA) Program. The incumbent will be responsible for underwriting and reviewing CRA qualifying equity investments and loans within the following asset classes: i) multifamily developments financed with Low Income Housing Tax Credits (LIHTC), ii) community development financial institutions (CDFIs), iii) real estate private equity funds, iv) Small Business Investment Corporations (SBIC), iv) New Markets Tax Credits (NMTC), and v) other qualifying assets for Santander Bank, N.A.'s CRA Program. The underwriting process formally assesses the risk of the proposed loans and investments and ensures they conform to Santander's credit risk management standards. Duties include analyzing due diligence items such as market trends, sponsor strength and financial projections; preparing credit write-ups and presenting to approval committees. In addition to the underwriting and review of investments and loans, the CDF Underwriter will also be responsible for monitoring and reporting the existing portfolio to stakeholders within the Bank. Duties & Responsibilities Perform underwriting and credit analysis of CRA qualifying loans and investments; ensure transactions adhere to the Bank's credit policy Prepare approval memos for and presents to various credit committees on current and prospective loans and investments Ensures documentation complies with internal policies and procedures and facilitates management and regulatory reporting 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 Performs site visits related to new and current loans and investments Leads the due diligence process on new investments and loans including conducting due diligence and financial analysis and working with fellow credit professionals to produce summary memos for new investments and loans Monitor the risk profile of the portfolio including risk rating of loans and investments and enforces credit policy compliance, regulatory and legal compliance, credit transaction integrity and completeness of all transactions Keeps abreast of overall trends and best practices in multifamily real estate and affordable housing. Review industry periodicals, Bank portfolio data and other materials/statistics to build and maintain current knowledge of factors that impact Bank's underwriting of its real estate investments Participates in preparing, interpreting and communicating periodic self-assessments of the Company's Community Development Finance portfolio 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. Acts as a subject matter expert (SME) while providing leadership, guidance, and mentorship to other team members Qualifications Must possess low income housing tax credit underwriting experience; knowledge of real estate investments and loans including community development financing such as Low-Income Housing Tax Credits, Multifamily Affordable Residential Construction Loans, Private Equity Funds, New Markets Tax Credits and Historic Tax Credits and CDFIs Bachelor's Degree in finance, business, political science or other relevant field, or equivalent work experience 3+ years of experience in affordable housing, economic development or other community development origination, underwriting or portfolio management role Strong analytical and financial skills; knowledge of credit policy and asset management processes Strong verbal and written communication skills as well as strategic planning and management ability Ability to work with third party accounting and legal consultants as well as sophisticated project development consultants and advisors Education Bachelor's Degree or equivalent work experience: Finance, Business, Political Science or other equivalent field Req Skills and Abilities Extensive experience developing and structuring community development finance transactions including LIHTC, NMTC or CDFI lending and investment. Excellent, sales, persuasion and negotiation skills required to represent the Company's interests in negotiations. 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. Diversity & EEO Statements At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply. Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law. Working Conditions Frequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders. Employer Rights This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason. The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location. Base Pay Range Minimum: $69,375.00 USD Maximum: $121,250.00 USD Primary Location: New York, NY, New York Other Locations: New York-New York,New York-New York,Massachusetts-Boston Organization: Santander Bank N.A.
12/06/2024
Full time
Community Development Finance Underwriter - Associate Country: United States of America Summary The Associate, Community Development Finance Underwriter is responsible for assisting in originating new community development equity investments and loans for the Company's Community Reinvestment Act (CRA) Program. The incumbent will be responsible for underwriting and reviewing CRA qualifying equity investments and loans within the following asset classes: i) multifamily developments financed with Low Income Housing Tax Credits (LIHTC), ii) community development financial institutions (CDFIs), iii) real estate private equity funds, iv) Small Business Investment Corporations (SBIC), iv) New Markets Tax Credits (NMTC), and v) other qualifying assets for Santander Bank, N.A.'s CRA Program. The underwriting process formally assesses the risk of the proposed loans and investments and ensures they conform to Santander's credit risk management standards. Duties include analyzing due diligence items such as market trends, sponsor strength and financial projections; preparing credit write-ups and presenting to approval committees. In addition to the underwriting and review of investments and loans, the CDF Underwriter will also be responsible for monitoring and reporting the existing portfolio to stakeholders within the Bank. Duties & Responsibilities Perform underwriting and credit analysis of CRA qualifying loans and investments; ensure transactions adhere to the Bank's credit policy Prepare approval memos for and presents to various credit committees on current and prospective loans and investments Ensures documentation complies with internal policies and procedures and facilitates management and regulatory reporting 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 Performs site visits related to new and current loans and investments Leads the due diligence process on new investments and loans including conducting due diligence and financial analysis and working with fellow credit professionals to produce summary memos for new investments and loans Monitor the risk profile of the portfolio including risk rating of loans and investments and enforces credit policy compliance, regulatory and legal compliance, credit transaction integrity and completeness of all transactions Keeps abreast of overall trends and best practices in multifamily real estate and affordable housing. Review industry periodicals, Bank portfolio data and other materials/statistics to build and maintain current knowledge of factors that impact Bank's underwriting of its real estate investments Participates in preparing, interpreting and communicating periodic self-assessments of the Company's Community Development Finance portfolio 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. Acts as a subject matter expert (SME) while providing leadership, guidance, and mentorship to other team members Qualifications Must possess low income housing tax credit underwriting experience; knowledge of real estate investments and loans including community development financing such as Low-Income Housing Tax Credits, Multifamily Affordable Residential Construction Loans, Private Equity Funds, New Markets Tax Credits and Historic Tax Credits and CDFIs Bachelor's Degree in finance, business, political science or other relevant field, or equivalent work experience 3+ years of experience in affordable housing, economic development or other community development origination, underwriting or portfolio management role Strong analytical and financial skills; knowledge of credit policy and asset management processes Strong verbal and written communication skills as well as strategic planning and management ability Ability to work with third party accounting and legal consultants as well as sophisticated project development consultants and advisors Education Bachelor's Degree or equivalent work experience: Finance, Business, Political Science or other equivalent field Req Skills and Abilities Extensive experience developing and structuring community development finance transactions including LIHTC, NMTC or CDFI lending and investment. Excellent, sales, persuasion and negotiation skills required to represent the Company's interests in negotiations. 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. Diversity & EEO Statements At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply. Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law. Working Conditions Frequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders. Employer Rights This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason. The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location. Base Pay Range Minimum: $69,375.00 USD Maximum: $121,250.00 USD Primary Location: New York, NY, New York Other Locations: New York-New York,New York-New York,Massachusetts-Boston Organization: Santander Bank N.A.
Community Development Finance Underwriter - Associate Country: United States of America Summary The Associate, Community Development Finance Underwriter is responsible for assisting in originating new community development equity investments and loans for the Company's Community Reinvestment Act (CRA) Program. The incumbent will be responsible for underwriting and reviewing CRA qualifying equity investments and loans within the following asset classes: i) multifamily developments financed with Low Income Housing Tax Credits (LIHTC), ii) community development financial institutions (CDFIs), iii) real estate private equity funds, iv) Small Business Investment Corporations (SBIC), iv) New Markets Tax Credits (NMTC), and v) other qualifying assets for Santander Bank, N.A.'s CRA Program. The underwriting process formally assesses the risk of the proposed loans and investments and ensures they conform to Santander's credit risk management standards. Duties include analyzing due diligence items such as market trends, sponsor strength and financial projections; preparing credit write-ups and presenting to approval committees. In addition to the underwriting and review of investments and loans, the CDF Underwriter will also be responsible for monitoring and reporting the existing portfolio to stakeholders within the Bank. Duties & Responsibilities Perform underwriting and credit analysis of CRA qualifying loans and investments; ensure transactions adhere to the Bank's credit policy Prepare approval memos for and presents to various credit committees on current and prospective loans and investments Ensures documentation complies with internal policies and procedures and facilitates management and regulatory reporting 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 Performs site visits related to new and current loans and investments Leads the due diligence process on new investments and loans including conducting due diligence and financial analysis and working with fellow credit professionals to produce summary memos for new investments and loans Monitor the risk profile of the portfolio including risk rating of loans and investments and enforces credit policy compliance, regulatory and legal compliance, credit transaction integrity and completeness of all transactions Keeps abreast of overall trends and best practices in multifamily real estate and affordable housing. Review industry periodicals, Bank portfolio data and other materials/statistics to build and maintain current knowledge of factors that impact Bank's underwriting of its real estate investments Participates in preparing, interpreting and communicating periodic self-assessments of the Company's Community Development Finance portfolio 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. Acts as a subject matter expert (SME) while providing leadership, guidance, and mentorship to other team members Qualifications Must possess low income housing tax credit underwriting experience; knowledge of real estate investments and loans including community development financing such as Low-Income Housing Tax Credits, Multifamily Affordable Residential Construction Loans, Private Equity Funds, New Markets Tax Credits and Historic Tax Credits and CDFIs Bachelor's Degree in finance, business, political science or other relevant field, or equivalent work experience 3+ years of experience in affordable housing, economic development or other community development origination, underwriting or portfolio management role Strong analytical and financial skills; knowledge of credit policy and asset management processes Strong verbal and written communication skills as well as strategic planning and management ability Ability to work with third party accounting and legal consultants as well as sophisticated project development consultants and advisors Education Bachelor's Degree or equivalent work experience: Finance, Business, Political Science or other equivalent field Req Skills and Abilities Extensive experience developing and structuring community development finance transactions including LIHTC, NMTC or CDFI lending and investment. Excellent, sales, persuasion and negotiation skills required to represent the Company's interests in negotiations. 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. Diversity & EEO Statements At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply. Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law. Working Conditions Frequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders. Employer Rights This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason. The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location. Base Pay Range Minimum: $69,375.00 USD Maximum: $121,250.00 USD Primary Location: New York, NY, New York Other Locations: New York-New York,New York-New York,Massachusetts-Boston Organization: Santander Bank N.A.
12/06/2024
Full time
Community Development Finance Underwriter - Associate Country: United States of America Summary The Associate, Community Development Finance Underwriter is responsible for assisting in originating new community development equity investments and loans for the Company's Community Reinvestment Act (CRA) Program. The incumbent will be responsible for underwriting and reviewing CRA qualifying equity investments and loans within the following asset classes: i) multifamily developments financed with Low Income Housing Tax Credits (LIHTC), ii) community development financial institutions (CDFIs), iii) real estate private equity funds, iv) Small Business Investment Corporations (SBIC), iv) New Markets Tax Credits (NMTC), and v) other qualifying assets for Santander Bank, N.A.'s CRA Program. The underwriting process formally assesses the risk of the proposed loans and investments and ensures they conform to Santander's credit risk management standards. Duties include analyzing due diligence items such as market trends, sponsor strength and financial projections; preparing credit write-ups and presenting to approval committees. In addition to the underwriting and review of investments and loans, the CDF Underwriter will also be responsible for monitoring and reporting the existing portfolio to stakeholders within the Bank. Duties & Responsibilities Perform underwriting and credit analysis of CRA qualifying loans and investments; ensure transactions adhere to the Bank's credit policy Prepare approval memos for and presents to various credit committees on current and prospective loans and investments Ensures documentation complies with internal policies and procedures and facilitates management and regulatory reporting 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 Performs site visits related to new and current loans and investments Leads the due diligence process on new investments and loans including conducting due diligence and financial analysis and working with fellow credit professionals to produce summary memos for new investments and loans Monitor the risk profile of the portfolio including risk rating of loans and investments and enforces credit policy compliance, regulatory and legal compliance, credit transaction integrity and completeness of all transactions Keeps abreast of overall trends and best practices in multifamily real estate and affordable housing. Review industry periodicals, Bank portfolio data and other materials/statistics to build and maintain current knowledge of factors that impact Bank's underwriting of its real estate investments Participates in preparing, interpreting and communicating periodic self-assessments of the Company's Community Development Finance portfolio 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. Acts as a subject matter expert (SME) while providing leadership, guidance, and mentorship to other team members Qualifications Must possess low income housing tax credit underwriting experience; knowledge of real estate investments and loans including community development financing such as Low-Income Housing Tax Credits, Multifamily Affordable Residential Construction Loans, Private Equity Funds, New Markets Tax Credits and Historic Tax Credits and CDFIs Bachelor's Degree in finance, business, political science or other relevant field, or equivalent work experience 3+ years of experience in affordable housing, economic development or other community development origination, underwriting or portfolio management role Strong analytical and financial skills; knowledge of credit policy and asset management processes Strong verbal and written communication skills as well as strategic planning and management ability Ability to work with third party accounting and legal consultants as well as sophisticated project development consultants and advisors Education Bachelor's Degree or equivalent work experience: Finance, Business, Political Science or other equivalent field Req Skills and Abilities Extensive experience developing and structuring community development finance transactions including LIHTC, NMTC or CDFI lending and investment. Excellent, sales, persuasion and negotiation skills required to represent the Company's interests in negotiations. 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. Diversity & EEO Statements At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply. Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law. Working Conditions Frequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders. Employer Rights This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason. The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location. Base Pay Range Minimum: $69,375.00 USD Maximum: $121,250.00 USD Primary Location: New York, NY, New York Other Locations: New York-New York,New York-New York,Massachusetts-Boston Organization: Santander Bank N.A.
Under supervision, underwrites small to medium-sized cases for new and renewal business, add-ons to existing clients, contract revisions, and other policyowner service work within established approval limits that involve an intermediate level of complexity, risk and financial impact. Creates proposal for this business as well as updates data in the appropriate systems. Completes bind processes once received. Underwrites new business cases (10-1000 lives) in accordance with company's risk tolerance levels. Evaluates renewal business and other rate and risk bearing analysis for existing clients within established approval limits. Works all product lines within Special Risks portfolio including, but not limited to: Intercollegiate Sports (ICS), K-12, Catastrophic, Custom, Motorsports, Rodeo, Gymnastics, Jockeys, Mandatory Student Accident (MSA's) and Girl Scouts. WHAT YOU'LL DO: Analyzes data related to the risk being underwritten for 10-1000 lives in order to determine what benefits, if any, can be offered and at what rates in order to mitigate financial risk to the company. Communicates with policy owners, applicants, brokers, agencies, and/or other sources concerning underwriting decisions and procedures. Assures that work is monitored for quantity and quality, and that work improvements in performance and productivity are identified and implemented on a continuous basis. Assists in assuring that objectives, standards, policies, and business plans for the underwriting department are established, implemented, reported and monitored. Provides for technical assistance and training as necessary. Underwrites all cases sizes from 10-500 lives. Conducts research in order to secure additional data needed to make determinations on benefits and rates. Set ups and adjust plan designs in the manual rating system. Works all product lines within the special risk portfolio including, but not limited to products listed above. Assists in completing questionnaires for large case RFP's and partners with law and compliance to complete Communicates with salesforce, brokers, and/or other sources concerning underwriting decisions and procedures Evaluates renewal business and other rate and risk bearing analysis for inforce groups. Maintains current knowledge of underwriting guidelines, pricing guidelines and product knowledge. Consistently meets or exceeds quality of work and time service expectations. Reviews industry publications and stays abreast of Federal, State, and business regulations governing group insurance products. Participates, and may lead, the training and mentoring of new or experienced underwriters. ABOUT YOU: You help promote a culture of diversity and inclusion within the department and the larger organization. You value different ideas and opinions. You listen courageously and remain curious in all that you do. You are able to work remotely and have access to high-speed internet. Underwriting knowledge and expertise. Ability to make decisions and justify the decisions with sound and logical reasoning. Attention to detail. Creative problem-solving skills. Strong mathematical aptitude. Strong relationship building with internal and external business partners. Ability to rely on experience and judgement to plan and accomplish goals. Financial aptitude for understanding pricing strategies and their potential impact on financial results. Confidential and Proprietary Proficient computer skills using various software packages including word-processing, spreadsheet, and electronic mail. Knowledge and experience with group life, disability and dental product lines. Strong business acumen and industry knowledge. Understanding of the laws, rules and regulations which impact employee benefits. Action oriented and customer focused. Strong ability to maintain composure, negotiate and resolve conflicts. Ability to make quality decisions and justify the decisions with sound and logical reasoning as well as high attention to detail. Strong analytical and creative problem-solving skills. Strong mathematical aptitude financial aptitude for understanding pricing strategies and their potential impact on financial results. Familiarity with a variety of Underwriting concepts, practices, and procedures and the ability to creatively apply them. Strong relationship building with internal and external business partners. Ability to effectively communicate verbally and in writing. Strong organizational, time management and prioritization skills. Commitment to active self-development and proactive technical learning. Proficient computer skills using various software packages including word-processing, spreadsheet, and electronic mail. Ability to work in a fast-paced, high volume environment VALUABLE EXPERIENCE: Knowledge and experience with Excel, Sales Database, and JIRA systems. Previous special risk underwriting skills and experience. Bachelor's degree in business, finance, economics, mathematics, and/or related field; or equivalent experience in insurance industry. WHAT WE CAN OFFER YOU: A diverse workplace where associates feel a sense of belonging. An organization that feels like a small, close-knit community and has the strength of a Fortune 500 company. Tuition reimbursement, training and career development. Comprehensive benefits plan that includes medical, dental, vision, disability and life insurance. Flexible spending accounts for healthcare and childcare needs. 401(k) plan with a 2% company contribution and 6% company match. Competitive pay with an opportunity for incentives for all associates. Flexible work schedules with a healthy amount of paid time off. For more information regarding available benefits, please visit our Career Site. Pay range 44,465-87,715 Pay commensurate with experience. circa MUTUAL OF OMAHA: Mutual of Omaha serves more than 4.8 million individual product customers and 39,000 employer groups. Our legacy of stability creates an environment where every associate is encouraged to experiment, innovate and grow in their own unique career path. From day one, youll have the tools to be your best self at work. Here youll do meaningful work and your talents will have a positive impact on peoples lives as we help our customers protect what they care about and achieve their financial goals. Each associate is a unique contributor to creating a diverse, dynamic, thriving and inclusive workplace. We want you to become engaged … feel a sense of belonging … and contribute to the companys exceptional future. Join forces with a company that can AMPLIFY YOUR STRENGTHS AND EMPOWER YOUR CAREER. For inquiries about the position or application process, contact our HR Helpline at 1-. If you are a qualified individual with a disability or a disabled veteran, you have the right to request an accommodation if you are unable or limited in your ability to use or access our career center as a result of your disability. To request an accommodation, contact a Human Resources Representative at 1-. We are available Monday through Friday 7 am to 4:30 pm CST we will reply within 24 hours. Mutual of Omaha and its affiliates are an Equal Opportunity /Affirmative Action Employer. Qualified applicants will receive consideration without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status. To All Recruitment Agencies: We do not accept unsolicited agency resumes and we are not responsible for any fees related to unsolicited resumes.
09/15/2021
Full time
Under supervision, underwrites small to medium-sized cases for new and renewal business, add-ons to existing clients, contract revisions, and other policyowner service work within established approval limits that involve an intermediate level of complexity, risk and financial impact. Creates proposal for this business as well as updates data in the appropriate systems. Completes bind processes once received. Underwrites new business cases (10-1000 lives) in accordance with company's risk tolerance levels. Evaluates renewal business and other rate and risk bearing analysis for existing clients within established approval limits. Works all product lines within Special Risks portfolio including, but not limited to: Intercollegiate Sports (ICS), K-12, Catastrophic, Custom, Motorsports, Rodeo, Gymnastics, Jockeys, Mandatory Student Accident (MSA's) and Girl Scouts. WHAT YOU'LL DO: Analyzes data related to the risk being underwritten for 10-1000 lives in order to determine what benefits, if any, can be offered and at what rates in order to mitigate financial risk to the company. Communicates with policy owners, applicants, brokers, agencies, and/or other sources concerning underwriting decisions and procedures. Assures that work is monitored for quantity and quality, and that work improvements in performance and productivity are identified and implemented on a continuous basis. Assists in assuring that objectives, standards, policies, and business plans for the underwriting department are established, implemented, reported and monitored. Provides for technical assistance and training as necessary. Underwrites all cases sizes from 10-500 lives. Conducts research in order to secure additional data needed to make determinations on benefits and rates. Set ups and adjust plan designs in the manual rating system. Works all product lines within the special risk portfolio including, but not limited to products listed above. Assists in completing questionnaires for large case RFP's and partners with law and compliance to complete Communicates with salesforce, brokers, and/or other sources concerning underwriting decisions and procedures Evaluates renewal business and other rate and risk bearing analysis for inforce groups. Maintains current knowledge of underwriting guidelines, pricing guidelines and product knowledge. Consistently meets or exceeds quality of work and time service expectations. Reviews industry publications and stays abreast of Federal, State, and business regulations governing group insurance products. Participates, and may lead, the training and mentoring of new or experienced underwriters. ABOUT YOU: You help promote a culture of diversity and inclusion within the department and the larger organization. You value different ideas and opinions. You listen courageously and remain curious in all that you do. You are able to work remotely and have access to high-speed internet. Underwriting knowledge and expertise. Ability to make decisions and justify the decisions with sound and logical reasoning. Attention to detail. Creative problem-solving skills. Strong mathematical aptitude. Strong relationship building with internal and external business partners. Ability to rely on experience and judgement to plan and accomplish goals. Financial aptitude for understanding pricing strategies and their potential impact on financial results. Confidential and Proprietary Proficient computer skills using various software packages including word-processing, spreadsheet, and electronic mail. Knowledge and experience with group life, disability and dental product lines. Strong business acumen and industry knowledge. Understanding of the laws, rules and regulations which impact employee benefits. Action oriented and customer focused. Strong ability to maintain composure, negotiate and resolve conflicts. Ability to make quality decisions and justify the decisions with sound and logical reasoning as well as high attention to detail. Strong analytical and creative problem-solving skills. Strong mathematical aptitude financial aptitude for understanding pricing strategies and their potential impact on financial results. Familiarity with a variety of Underwriting concepts, practices, and procedures and the ability to creatively apply them. Strong relationship building with internal and external business partners. Ability to effectively communicate verbally and in writing. Strong organizational, time management and prioritization skills. Commitment to active self-development and proactive technical learning. Proficient computer skills using various software packages including word-processing, spreadsheet, and electronic mail. Ability to work in a fast-paced, high volume environment VALUABLE EXPERIENCE: Knowledge and experience with Excel, Sales Database, and JIRA systems. Previous special risk underwriting skills and experience. Bachelor's degree in business, finance, economics, mathematics, and/or related field; or equivalent experience in insurance industry. WHAT WE CAN OFFER YOU: A diverse workplace where associates feel a sense of belonging. An organization that feels like a small, close-knit community and has the strength of a Fortune 500 company. Tuition reimbursement, training and career development. Comprehensive benefits plan that includes medical, dental, vision, disability and life insurance. Flexible spending accounts for healthcare and childcare needs. 401(k) plan with a 2% company contribution and 6% company match. Competitive pay with an opportunity for incentives for all associates. Flexible work schedules with a healthy amount of paid time off. For more information regarding available benefits, please visit our Career Site. Pay range 44,465-87,715 Pay commensurate with experience. circa MUTUAL OF OMAHA: Mutual of Omaha serves more than 4.8 million individual product customers and 39,000 employer groups. Our legacy of stability creates an environment where every associate is encouraged to experiment, innovate and grow in their own unique career path. From day one, youll have the tools to be your best self at work. Here youll do meaningful work and your talents will have a positive impact on peoples lives as we help our customers protect what they care about and achieve their financial goals. Each associate is a unique contributor to creating a diverse, dynamic, thriving and inclusive workplace. We want you to become engaged … feel a sense of belonging … and contribute to the companys exceptional future. Join forces with a company that can AMPLIFY YOUR STRENGTHS AND EMPOWER YOUR CAREER. For inquiries about the position or application process, contact our HR Helpline at 1-. If you are a qualified individual with a disability or a disabled veteran, you have the right to request an accommodation if you are unable or limited in your ability to use or access our career center as a result of your disability. To request an accommodation, contact a Human Resources Representative at 1-. We are available Monday through Friday 7 am to 4:30 pm CST we will reply within 24 hours. Mutual of Omaha and its affiliates are an Equal Opportunity /Affirmative Action Employer. Qualified applicants will receive consideration without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status. To All Recruitment Agencies: We do not accept unsolicited agency resumes and we are not responsible for any fees related to unsolicited resumes.
