Job Information
Huntington National Bank CIC Sponsor Underwriter in Clayton, Missouri
Description
Summary:
The Huntington Community Impact Capital (“CIC”) Sponsor Underwriter will lead the sponsor underwriting of personal and corporate guarantors, developers, and sponsors for tax credit equity investments and debt facilities. The Sponsor Underwriter’s role is to communicate sponsors’ financial strength, potential risks, and business implications based on facts gathered via financial analysis and sponsor interviews. The Sponsor Underwriter 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 Sponsor Underwriter will report to the Director of Lending and Investing and will be primarily responsible to:
Job Description:
Collaborate directly with all groups within CIC to underwrite and assess creditworthiness of sponsors / guarantors for tax credit 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 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.
Work with BDOs to draft initial and ongoing Sponsor Hold Limit analyses memoranda and presentations to Bank committees
Work with BDOs and PMs to assist in deal structuring considerations based on the results of the sponsor / guarantor underwriting.
Train and mentor other employees on 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 sponsor underwriting experience
4+ years of LIHTC experience
2+ years of LIHTC (or CRE) underwriting and closing experience
Strong understanding of analyzing sponsor financial statements, real estate owned schedules, contingent liabilities, organizational structures, and business plans
Preferred Qualifications
4+ years of sponsor underwriting experience
6+ of LIHTC experience
4+ years of LIHTC (or CRE) underwriting and closing experience
Certified Public Accountant and/or Certified Management Accountant credentials preferred
Technical knowledge of the LIHTC program
Familiarity with other tax credit programs such as State and Historic Tax Credits and debt products
Proficiency in excel modeling
Intermediate 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:
Hybrid
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.
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