Credit, Underwriter

Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $92.0 billion and created 1.1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands – all to make home and community places of pride, power and belonging.

Join us at enterprisecommunity.org  

Working at Enterprise  

At Enterprise, you’ll be part of a diverse, committed team making a difference every day. You will collaborate with some of the smartest minds and biggest hearts in our field. You’ll be empowered to drive systems change and take bold steps to advance racial equity. And you will find a career home where you’re valued and supported in your growth journey. 

Enterprise offers career opportunities in our offices across the country with an exceptional benefits package.

Job Description Summary

The Underwriter, Credit will perform financial analyses of sponsors and guarantors of affordable rental housing developments utilizing Low-Income Housing Tax Credit (LIHTC) financing. The Underwriter, Credit will work in a fast-paced environment as part of the Credit department and alongside LIHTC Underwriters. Responsibilities require the application of the individual’s expertise with corporate and individual financial statements to evaluate the ability of sponsors and guarantors in LIHTC transactions to meet their ongoing performance and financial obligations. The Underwriter, Credit must be able to work in a time-pressured environment that demands attention to detail, conscientiousness, creativity, and flexibility. In addition to these attributes, the position requires an ability to work collaboratively with Credit and Underwriters to set the most appropriate range, depth and scope of analysis for each transaction and to make recommendations in response to any issues identified.

Job Description

 Qualifications

• BS Degree in Accounting, Finance, or equivalent and5+ years’ experience required or Master’s degree and 2+ years’ experience.
• Directly related experience in public accounting, auditing and/or financial analysis of real estate development companies or other corporate institutions.
• Excellent analytical skills.
• Some knowledge of LIHTC equity underwriting or other real estate feasibility analysis preferred.
• Ability to communicate well and maintain positive, productive working relationships with co-workers and outside partners.
• Proven capacity to coordinate complex activities, prioritize conflicting demands, and to meet deadlines.
• Must be highly motivated, be able to work independently, and be able to work evening and weekend hours during peak periods.
• Incumbent is expected to demonstrate a high level of ethics.

 

 Responsibilities 

• Review financial statements and prepare a multi-year financial analysis spreadsheet for developers/guarantors of Enterprise’s LIHTC and predevelopment transactions.
• Identify salient characteristics brought to light from the financial analysis spreadsheet and communicate findings and recommend follow-up items to the Underwriter, with a focus on identifying strengths and vulnerabilities in a developer’s financial condition and its ability to support guarantees.
• Determine the most appropriate subject(s) of and level of analysis for a given transaction based on each party’s roles, respective financial capacity and other factors.
• Analyze consolidated statements, reviewing the legal relationships, activities, assets and liabilities of consolidated entities to determine which entity or group of entities is to be evaluated and the form of such evaluation and presentation.
• Explain and train staff on factors to consider in reviewing financials for all types of entities: for-profit, non-profit, individuals, and housing authorities.
• Speak directly with Chief Financial Officers, Finance Directors, and other representatives of sponsors/guarantors, when needed, to better understand the information provided.
• Assist with financial review policies and compliance with safeguarding of financial documents supporting our reviews.
• Contribute to policies and procedures related to safeguarding financial documents supporting our reviews.
• Perform other special tasks as assigned.

 

Salary Transparency

You will be joining a team of talented professionals motivated by serving the community and addressing the need for affordable housing.

Enterprise offers a comprehensive total rewards package for you and your family. The pay range for this position is $120,000 – $130,000. The salary range represents the low and high end of what may be paid for this position. It is not typical for an individual to be hired at or near the top of the pay range, and compensation decisions may be influenced by a variety of factors, including skills, qualifications, experience, and location.

Total Rewards at Enterprise

This range is just one component of our total rewards package, which also includes annual performance bonuses and generous paid leave programs.

Our benefits form a major part of the total rewards package. These include dental, health, and vision care plans, as well as family-building benefits such as adoption and surrogacy support. Enterprise supports flexible work arrangements to promote work-life balance and offers health advocacy, an Employee Assistance Program (EAP), and mental health benefits. We round out our package with financial education, wellness programs, and auto-enrollment in the company’s 401(k) plan with employer matching contributions.

Finally, you will have access to learning and development opportunities, including tuition reimbursement for job-related courses and certifications. Thank you for your interest in joining the Enterprise team and contributing to our mission to serve others.

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