Credit Underwriter

Cover letter required for consideration.

Background
The Montgomery County Green Bank (Green Bank) is a publicly chartered, nonprofit financial intermediary dedicated to accelerating energy efficiency and clean energy investment in Montgomery County, Maryland. The Green Bank leverages innovative partnerships and capital to make climate-smart solutions more accessible and affordable for residents and businesses. Our work supports Montgomery County's goal to reach zero greenhouse gas emissions by 2035.

Summary of Position
The Green Bank is hiring a credit underwriter to help scale up clean energy investment across Montgomery County, MD by performing the financial analysis needed to originate commercial loan transactions. The role is fundamental to the Green Bank's work of originating transactions that deliver climate benefits and savings outcomes to customers. Core responsibilities include:

• Spreading and analyzing business financial statements and tax returns.
• Underwriting structured debt transactions and completing comprehensive underwriting narratives for board review and approval.
• Providing market and credit support in product development.
• Supporting the Investment Team in structuring transactions.
• Supporting the Portfolio Management team in portfolio and credit management.
• Supporting the Chief Credit Officer in monitoring and assessing risk within the Green Bank's loan portfolio.

The Green Bank employs many financing techniques to leverage its funds in partnership with other financial institutions, including conventional loans, credit enhancements, co-lending, and other structures (such as Commercial-PACE). The successful candidate should be a knowledge source within the investment team for structuring and underwriting transactions using different approaches of senior debt and mezzanine finance.

Principal Duties and Responsibilities
The Underwriter will report to the Chief Credit Officer and will support the Green Bank's Investment and Portfolio Administration teams. The Investment team is dedicated to originating and closing transactions across different sectors and the Portfolio Administration team ensures that the portfolio is diligently serviced, and credit standards are maintained throughout the life of transactions. The teams work together closely to achieve the investment goals of the Green Bank.

Specifically, the Underwriter will be responsible for:

• Supporting originations on the credit and development of financial structures.
• Evaluating market, sector, and counterparty information in support of originations.
• Underwriting conventional loans, transactions using loan loss reserves, participations, and other structured finance approaches.
• Analyzing and evaluating due diligence documentation related to sponsor, property characteristics, operating history, property inspection, market, etc.
• Verifying assumptions contained in pro forma financials and determining if a project's financial model should be updated with more realistic assumptions.
• Evaluating adequacy of cash flows to service proposed debt structures and other credit metrics.
• Preparing transaction approval packages for credit committees.
• Providing innovative underwriting approaches based on market behaviors while efficiently analyzing, mitigating, and clearly defining credit risk.
• Reviewing third-party reports including appraisals, engineering reports, and environmental assessments.
• Maintaining organized and fully documented underwriting files and underwriting checklists.
• Engaging with partner financial institutions to shape underwriting and transaction development.
• Working with the Portfolio Management team on portfolio and credit management including covenant compliance and annual reviews.
• Supporting the Chief Credit Officer in the preparation of portfolio level reporting for the Green Bank's commercial loan portfolio, as well as providing any special project support as requested by the Chief Credit Officer.

Education
Minimum of bachelor's degree in Finance, Accounting, Business, Real Estate, or other related field when paired with experience.

Experience, Skills and Abilities
To achieve the stated objectives, the Green Bank is looking for the following experience:

• Five or more years of related work experience in commercial finance.
• Credit training or demonstrated experience in credit and underwriting roles.
• Knowledge of commercial real estate property fundamentals and commercial real estate lending/underwriting, specifically focused on multi-family affordable housing.
• Experience in clean energy and/or energy efficiency is desired.
• Proven track record of reviewing financial and commercial real estate loan documentation, including due diligence needed for commercial loan closing.
• Strong written and verbal communication skills.
• Demonstrated proficiency with Microsoft Excel and Word.
• Capable to work independently while supportive of a team.

Equal Opportunity
The Green Bank considers applicants for all positions without regard to race, color, creed, religion, national origin or ancestry, sex, age, disability, genetic information, veteran status, or any other legally protected status under local, state, or federal law.

Compensation
Annual compensation for the position is provided commensurate with experience in the expected range of $85,000 - $95,000. The Green Bank offers competitive benefits including paid time off, holidays, incentive compensation, a 6% 401K match, medical FSA, and medical/dental/vision insurance subsidized at 80% of cost for the employee and their dependents.

Salary : $85,000 - $95,000