The Citi Community Capital (CCC) Business within Citi’s Institutional Credit Management (ICM) Division, is seeking to hire a Multifamily Underwriter / Asset Manager.
Citi Community Capital (CCC) provides a suite of financial products to help affordable housing developers construct, rehabilitate, refinance, and acquire affordable multifamily housing across the country. Committed to the communities we serve, CCC finances both straightforward and highly structured transactions for non-profit and for-profit affordable housing developers, Community Development Financial Institutions, and state and local government agencies.
It is the mission of CCC to be the preferred financial partner for affordable housing developers, non-profits and governmental entities that focus on community development. We provide our clients with a distinctive, remarkable experience based on world class responsiveness, customer service, creativity, and superior execution. This mission will be accomplished while delivering superior financial performance for Citi, consistent and impactful CRA results, and an inclusive and rewarding experience for our employees.
Responsibilities:
Manage the ongoing performance and oversee the credit quality of an active portfolio of loans that are collateralized by affordable multifamily developments located throughout the United States by:
- Working with internal and external partners in loan servicing, credit risk, Borrowers, and the servicer to process borrower requests (ex: lease reviews, Borrower restructures, property management changes, etc)
- Reviewing loan documents and third-party reports to determining compliance requirements. Independently and proactively monitor loans for covenant compliance and adherence to terms and conditions under the loan documents, taking a leadership role in problem solving and resolving any past due issues.
- Preparing and presenting credit recommendations for material credit actions that require credit committee approval such as loan extensions, modifications, restructures.
- Conducting annual review of the loan facility by analyzing project performance, market conditions, and underlying liquidity sources.
- Proactively identifying and escalating issues that warrant additional investigation and internal discussion such as declining property performance, stressed DSCR, depleted operating reserves, and property condition, recommending and processing classification changes.
- Conducting periodic risk rating analysis on the loan facility.
- Updating the property valuations through internal assessments or external appraisals based on current market conditions and overall performance of the property.
- Managing multiple processes simultaneously through a high level of organization and efficiency.
Qualifications:
- Individual must have excellent verbal and written communication skills, organizational and interpersonal skills, as well as the ability to manage multiple assignments at once under tight deadlines.
- Strong quantitative skills with a high proficiency with Excel and other Microsoft based programs.
- Energetic individual who shows initiative, is a team player, and has a positive attitude to change.
- Candidate is required to have at least 2 years asset management/underwriting experience in the affordable housing industry.
Education:
- BA/BS in Finance or Real Estate preferred
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
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Job Family Group:
Risk Management--------------------------------------- ---------------
Job Family:
Credit Decisions-------------------------------------- ----------------
Time Type:
Full time------------------------------------- -----------------
Primary Location:
Los Angeles California United States------------------------------------ ------------------
Primary Location Full Time Salary Range:
$123,360.00 - $185,040.00
In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.
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Anticipated Posting Close Date:
Apr 09, 2024---------------------------------- --------------------
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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
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