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Job Title : Associate Community Development Finance Underwriter(Santander Bank)
Date Posted : October 10, 2020
Type :

Description :

Req ID: 2003288

Date posted 10/06/2020

Associate, Community Development Finance Underwriter-2003288


Santander’s Commercial Banking Division is an active provider of capital, treasury management and risk management solutions to thousands of small and mid-sized companies in the northeast and across the country. We also have expertise and provide service to specific industry sectors including real estate, asset based lending, energy, education, health care and government.  Our clients rely on the strength of Santander’s balance sheet and the degree to which our relationship managers understand their businesses in order to develop the most relevant and compelling solutions.  In addition, Santander’s significant international presence in regions around the world uniquely positions us to help companies grow their business, both near and far.


The Associate, Community Development Finance Underwriter is responsible for assisting in originating new community development equity investments and loans for the Company's Community Reinvestment Act (CRA) Program. The incumbent will be responsible for underwriting and reviewing CRA qualifying equity investments and loans within the following asset classes: i) multifamily developments financed with Low Income Housing Tax Credits (LIHTC), ii) community development financial institutions (CDFIs), iii) real estate private equity funds, iv) Small Business Investment Corporations (SBIC), iv) New Markets Tax Credits (NMTC), and v) other qualifying assets for Santander Bank, N.A.’s CRA Program.The underwriting process formally assesses the risk of the proposed loans and investments and ensures they conform to Santander's credit risk management standards. Duties include analyzing due diligence items such as market trends, sponsor strength and financial projections; preparing credit write-ups and presenting to approval committees.In addition to the underwriting and review of investments and loans, the CDF Underwriter will also be responsible for monitoring and reporting the existing portfolio to stakeholders within the Bank.

Duties & Responsibilities

  • Perform underwriting and credit analysis of CRA qualifying loans and investments; ensure transactions adhere to the Bank’s credit policy
  • Prepare approval memos for and presents to various credit committees on current and prospective loans and investments
  • Ensures documentation complies with internal policies and procedures and facilitates management and regulatory reporting
  • Ensures own work is in compliance with applicable laws, regulations and guidelines, as detailed in policies located on the Company Intranet; policies include but are not limited to Fair Lending, Know Your Customer, Bank Secrecy Act and other applicable anti-money-laundering policies
  • Performs site visits related to new and current loans and investments
  • Leads the due diligence process on new investments and loans including conducting due diligence and financial analysis and working with fellow credit professionals to produce summary memos for new investments and loans
  • Monitor the risk profile of the portfolio including risk rating of loans and investments and enforces credit policy compliance, regulatory and legal compliance, credit transaction integrity and completeness of all transactions
  • Keeps abreast of overall trends and best practices in multifamily real estate and affordable housing. Review industry periodicals, Bank portfolio data and other materials/statistics to build and maintain current knowledge of factors that impact Bank’s underwriting of its real estate investments
  • Participates in preparing, interpreting and communicating periodic self-assessments of the Company's Community Development Finance portfolio
  • Works with credit, compliance, and internal and external auditors to ensure investments and loans are originated and managed within policy and applicable laws and regulations
  • Acts as a subject matter expert (SME) while providing leadership, guidance, and mentorship to other team members

At Santander, we value and respect differences in our workforce ad strive to increase the diversity of our teams.  We actively encourage everyone to apply.


  • Bachelor's Degree in finance, business, political science or other relevant field, or equivalent work experience
  • 3+ years of experience in affordable housing, economic development or other community development origination, underwriting or portfolio management role
  • Low income housing tax credit underwriting experience; knowledge of real estate investments and loans including community development financing such as Low-Income Housing Tax Credits, Multifamily Affordable Residential Construction Loans, Private Equity Funds, New Markets Tax Credits and Historic Tax Credits and CDFIs
  • Strong analytical and financial skills; knowledge of credit policy and asset management processes
  • Strong verbal and written communication skills as well as strategic planning and management ability
  • Ability to work with third party accounting and legal consultants as well as sophisticated project development consultants and advisors


:Corporate Affairs

Primary Location

:New York-New York-200 Liberty Street - 06488 - Liberty Street


:CRE & MultiFamily (4701)



Job Posting

:Oct 6, 2020, 3:50:17 PM

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