Director, Underwriting

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 Acquisitions team is hiring a Director of Underwriting to lead and mentor a team, ensuring workload balance and expertise in serving proprietary investors and major markets. This role will oversee the underwriting process, manage performance expectations, and step in for deal management as needed. Candidates should have a relevant degree, extensive real estate finance experience, strong financial analysis skills, and the ability to handle multiple tasks under pressure while demonstrating professionalism and effective communication.

Job Description

Responsibilities:

• Lead and manage a team of underwriters and associates. Coach, mentor, and train both new and established underwriters. Schedule workloads and assign deals to underwriters to balance effort throughout the year, ensuring a breadth of experience with different investors and markets. Maintain our expertise in serving proprietary investors and major markets.
• Serve as the primary interface for the underwriting process with one or more proprietary investors. Lead the engagement, supported by one or more underwriters.
• Ensure that underwriters meet performance expectations. Step in to manage deals and closings for underwriters on leave and independently underwrite one or more investments per year if necessary.
• Plan and lead group meetings and discussions to build a highly effective and motivated team of professional underwriting project managers and closers. Develop retreats with meaningful training sessions and collaboration with other departments/consultants.
• Jointly lead efforts to improve underwriting effectiveness. Participate in ongoing process improvement working groups and manage ad-hoc groups to address specific problems and solutions. Work with credit, LIHTC structuring services, investor relations, and others to organize, coordinate, and lead training programs. Schedule regular training sessions throughout the year, both virtually and during special events such as retreats and staff meetings. Lead training sessions or portions of them as appropriate.
• Collaborate with internal partners to curate and organize training resources, including ongoing Underwriting trainings, LIHTC Structuring trainings, and the Acquisitions and Underwriting Resource Hub.

Qualifications:

• Bachelor’s degree in Business, Accounting or Finance, or related field required. Master’s degree preferred.
• 8+ years’ experience real estate finance, affordable housing and/or LIHTC program, apartment market dynamics in both urban and suburban areas, and familiarity with industry policies, issues, and programs
• Extensive knowledge of LIHTC and strong financial analysis skill is required.
• Experience in closing real estate transactions highly preferred.
• Ability to manage multiple tasks effectively under significant time pressure to meet closing deadlines.
• Extensive Excel modeling skills required. Proficient knowledge of MS Word and Power Point a plus.
• Strong writing /editing skills needed to produce correspondence and reports.
• Prior management and/or team leadership experience preferred.
• Demonstrated verbal communication and interpersonal skills to represent company to all parties.
• Demonstrates professionalism, diplomacy and composure and is flexible and able to adapt to a variety of situations.
• Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands and meet deadlines.
• Must be highly motivated, be able to work independently, solve problems and possess strong written and oral communication skills. 
• Incumbent is expected to demonstrate strong ethics in interpersonal relations and work as an effective, collaborative team member. 
• Ability to maintain big picture focus while attending to detailed work and providing thorough documentation.
• Demonstrated ability to work productively and accurately in a fast-paced environment with multiple projects and stringent deadlines. 
• Ability to work evening and weekend hours during peak periods.

Total Rewards at Enterprise:  

You will be working with a group of talented professionals who are 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 base salary for this role is $145,000 to $190,000, depending on level of skills and experience.

  

The salary range for this position is represented by the low and high end of the range for the amount to be paid for the position. Salaries paid at Enterprise will vary based on factors that may include skills, education, location, experience, and performance.  The salary range is just a part of the total rewards package provided to employees at Enterprise, and other rewards may include annual performance bonuses and generous paid leave programs.  

At Enterprise, our benefits form a major component of our total rewards package.  Benefits include dental, health, and vision care plans, as well as family-building benefits, such as fertility, adoption, surrogacy support, and gender-affirming care.  Enterprise allows flexible work arrangements to promote a better work-life balance.  We offer health advocacy, EAP, and mental health benefits.  We round out our total rewards package by offering financial education, wellness programs, and auto-enrollment in the company's 401(k) plan with employer matching contributions.  Finally, you will have learning and development opportunities, including tuition reimbursement for job-related courses and certifications.  Thank you for your interest in joining the Enterprise team in our effort and commitment to serve others.

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