Citi Community Capital - Affordable Multifamily Underwriting, Sponsor Review - Officer

The Citi Community Capital (CCC) Business within Citi’s Institutional Credit Management (ICM) Division, is seeking to hire a Multifamily Underwriting Analyst.  

The professionals at Citi Community Capital (“CCC”) originate, underwrite and close construction and permanent loans that are used to finance the new construction, rehabilitation and preservation of affordable and workforce rental housing. CCC is the community lending and investing arm of Citigroup, housed in the Global Spread Products Group of Citi’s Institutional Clients Group. Unique among its peers, CCC provides a comprehensive array of financial products from investment banking to lending and equity investment designed to improve neighborhoods, create jobs, or improve the health care services or educational opportunities available to the communities we serve as well as contribute toward Citigroup’s Community Reinvestment Act performance.

CCC works with for-profit and non-profit developers, as well as state and local government agencies on both straightforward and highly structured transactions that may use a combination of taxable and tax-exempt loans or bonds, Low Income Housing Tax Credit (“LIHTC”) equity, and governmental and private subsidies. CCC is a balance-sheet construction lender and a permanent lender, a Fannie Mae and Freddie Mac mortgage banker, and principal in unique equity investments.

CCC works throughout the country and, according to Affordable Housing Finance Magazine, has been the #1 affordable housing lender in the United States for 14 consecutive years. This success is due in large part to having the strongest and most innovative team of professionals in the industry. Citi’s team of experienced professionals, coupled with its capital-committing capability, is able to provide creative financing solutions that are specifically designed to meet each client’s needs. CCC is currently recruiting to add an additional member to its dedicated Sponsor Analysis Team. The job title will be commensurate with experience.

The Underwriter – C11 is an intermediate level role. Applies in-depth disciplinary knowledge, contributing to the development of new techniques and the improvement of processes and workflow for the area or function. Integrates subject matter and industry expertise within a defined area. Requires in-depth understanding of how areas collectively integrate within the sub-function as well as coordinate and contribute to the objectives of the function and overall business. Evaluates moderately complex and variable issues with substantial potential impact, where development of an approach/taking of an action involves weighing various alternatives and balancing potentially conflicting situations using multiple sources of information. Requires good analytical skills in order to filter, prioritize and validate potentially complex and dynamic material from multiple sources. Strong communication and diplomacy skills are required. Regularly assumes informal/formal leadership role within teams. Significant impact in terms of project size, geography, etc. by influencing decisions through advice, counsel and/or facilitating services to others in area of specialization. Work and performance of all teams in the area are directly affected by the performance of the individual.

Responsibilities:

• Spreading and analyzing financial statements, real estate owned schedules, and contingent liability schedules

• Assess financial strength of Sponsors/Guarantors providing support on new and existing recourse transactions

• Complete financial analysis write-ups and run risk rating scorecards on Sponsors/Guarantors Continuous monitoring of assigned portfolio and identifying any Sponsor/Guarantor related issues to business and risk approvers

• Ability to work in partnership with origination underwriters, construction asset management, and risk teams to complete credit write-ups timely

• Generating weekly/monthly reports

Qualifications:

• 0-2 years of relevant credit experience

• Previous experience working within affordable housing and/or real estate underwriting or credit preferably within the financial services industry.

• Familiarity with commercial real estate concepts such as NOI, Cap Rates, and Debt Service Coverage.

• Strong verbal and written communication skills, and ability to multi-task under tight deadlines

• Bachelor’s degree in accounting or finance, or coursework within each

• Working knowledge of Excel and other Microsoft applications

Education:

• B