Santander Bank - New York, NY
posted 5 months ago
The Associate, Community Development Finance Underwriter plays a crucial role in supporting the Company's Community Reinvestment Act (CRA) Program by assisting in the origination of new community development equity investments and loans. This position is primarily focused on underwriting and reviewing CRA qualifying equity investments and loans across various asset classes, including multifamily developments financed with Low Income Housing Tax Credits (LIHTC), community development financial institutions (CDFIs), real estate private equity funds, Small Business Investment Corporations (SBIC), New Markets Tax Credits (NMTC), and other qualifying assets. The incumbent will be responsible for conducting a thorough underwriting process that formally assesses the risk associated with proposed loans and investments, ensuring compliance with Santander's credit risk management standards. Key responsibilities include analyzing due diligence items such as market trends, sponsor strength, and financial projections, as well as preparing credit write-ups for presentation to approval committees. The Associate will also monitor and report on the existing portfolio to stakeholders within the Bank, ensuring that all transactions adhere to internal policies and regulatory requirements. This role requires a proactive approach to maintaining knowledge of industry trends and best practices in multifamily real estate and affordable housing, as well as participating in the preparation and communication of periodic self-assessments of the Company's Community Development Finance portfolio. In addition to underwriting and portfolio management, the Associate will act as a subject matter expert, providing leadership, guidance, and mentorship to other team members. This position demands strong analytical and financial skills, as well as the ability to communicate effectively with various stakeholders, including credit, compliance, and internal and external auditors. The Associate will be expected to keep abreast of overall trends in the industry and contribute to the development of the Bank's CRA strategies and goals.