Description

Job Summary:

The Huntington Community Impact Capital (“CIC”) Sponsor Underwriter Associate will assist in the sponsor underwriting of personal and corporate guarantors, developers, and sponsors for low-income housing tax credit (LIHTC) equity investments and debt facilities.  The Sponsor Underwriter Associate’s role is to understand and communicate sponsors’ financial strength, potential risks, and business implications based on facts gathered via financial analysis and sponsor interviews.  The Sponsor Underwriter Associate will be responsible for creating and updating Sponsor Analyses in compliance with bank policy and procedure.  This task will require careful coordination with all groups within the CIC, as various types of analysis are required across the group for a wide variety of purposes.  The associate is not expected to have a deep knowledge of LIHTC; however, they will learn about and become skilled in the LIHTC sector.

Job Description:

The Sponsor Underwriter Analyst will report to the Sponsor Underwriter and will be primarily responsible to:

• Collaborate directly with all groups within CIC to underwrite and assess creditworthiness of sponsors / guarantors for LIHTC equity investments and debt facilities in compliance with Bank policies and procedures
• Analyze, understand, and effectively communicate sponsor / guarantor business structure as documented in organizational documents, trust documents, and other sources
• Analyze sponsor / guarantor financial statements, tax returns (including K-1s), bank statements, schedules of contingent liabilities, and schedules of real estate owned
• Collaborate with Business Development Officers (BDOs) to conduct character reference checks
• Run and analyze background searches / reports and credit bureau reports.
• Draft and present memoranda summarizing the sponsor underwriting including final recommendations with appropriate discussion of risks and well supported conclusions
• Lead discussions with key employees with sponsors / guarantors (CEO, CFO, etc.) to understand their business, structure, financial information, real estate activities, and future business objectives
• Travel to developers’ offices and conferences
• Work with BDOs to draft initial and ongoing Sponsor Hold Limit analyses memoranda and presentations to Bank committees
• Work with BDOs and Project Managers (PMs) to assist in deal structuring considerations based on the results of the sponsor / guarantor underwriting.
• Demonstrate strong stewardship over Huntington’s financial and community impact interests internally and in the communities where we invest
• Represent the Bank at industry events and participate in industry leading discussions, including policy

Basic Qualifications:

• Bachelor’s degree from accredited university. Finance, accounting, or business degree preferred
• 2+ years of LIHTC credit analysis, portfolio management, and/or sponsor underwriting experience

Preferred Qualifications:

• 2+ years of credit analysis or sponsor underwriting experience
• 2+ of LIHTC experience
• Strong understanding of analyzing sponsor financial statements, real estate owned schedules, contingent liabilities, organizational structures, and business plans
• Accounting degree
• Knowledge of the LIHTC program
• Proficiency in Excel
• Beginning knowledge of limited partnership agreements and loan documents with focus on guarantees and security
• Strong presentation skills to Credit and other internal stakeholders

Exempt Status: (Yes = not eligible for overtime pay) (No = eligible for overtime pay)

Yes

Workplace Type:

Office

Our Approach to Office Workplace Type

Certain positions outside our branch network may be eligible for a flexible work arrangement. We’re combining the best of both worlds:  in-office and work from home. Our approach enables our teams to deepen connections, maintain a strong community, and do their best work. Remote roles will also have the opportunity to come together in our offices for moments that matter. Specific work arrangements will be provided by the hiring team.

Compensation Range:

52,000.00 - 76,500.00 - 101,000.00 USD Annual

The compensation range represents the low and high end of the base compensation range for this position. Actual compensation will vary and may be above or below the range based on various factors including but not limited to location, experience, and performance.  Colleagues in this position are also eligible to participate in an applicable incentive compensation plan.  In addition, Huntington provides a variety of benefits to colleagues, including health insurance coverage, wellness program, life and disability insurance, retirement savings plan, paid leave programs, paid holidays and paid time off (PTO). 

Huntington is an equal opportunity and affirmative action employer and is committed to providing equal employment opportunities for all regardless of race, color, religion, sex, national origin, age, disability, sexual orientation, veteran status, gender identity and expression, genetic information, or any other basis protected by local, state, or federal law.

Tobacco-Free Hiring Practice: Visit Huntington's Career Web Site for more details.

Agency Statement: Huntington does not accept solicitation from Third Party Recruiters for any position

Huntington will not sponsor applicants for this position for immigration benefits, including but not limited to assisting with obtaining work permission for F-1 students, H-1B professionals, O-1 workers, TN workers, E-3 workers, among other immigration statuses. Applicants must be currently authorized to work in the United States on a full-time basis.