What are the responsibilities and job description for the Senior Underwriter, Community Lending position at Reinvestment Fund?
Job Description
Job Description
Description :
About Reinvestment Fund :
At Reinvestment Fund, we are dedicated to making a tangible difference in the lives of underserved individuals and communities. Our mission is to foster economic empowerment and wealth-building in historically marginalized areas, ensuring a brighter future for all.
As a federally certified community development financial institution (CDFI), our job is to make finance an agent of positive change and equitable growth. We provide loans, grants and technical assistance to businesses and nonprofits. Our borrowers and grantees educate students, support local economies, and create jobs. They build affordable housing and provide community goods and services that include access to nutritious food, hunger relief, physical and mental health care, and other social services.
About the Position :
Reinvestment Fund is currently hiring a Senior Underwriter within the Lending and Investments department, who will be an integral member of the Community Lending originations team, which is responsible for originations and management of place-based capital across core geographic markets in the MidAtlantic and Southeast. Originations are focused on a wide spectrum of affordable housing project types or projects with affordable housing components, such as mixed housing types (for sale and for rent) around an anchor institution (i.e. HBCU, hospital system, etc.). The Senior Underwriter is responsible for conducting due diligence and underwriting for approval of a broad range of loan types for projects in alignment with Reinvestment Fund’s community lending initiatives and strategies.
The Senior Underwriter reports to and works closely with the Managing Director, Community Lending, and as assigned, will partner with Senior Directors (Loan Officers) to underwrite loans to obtain credit approval as well as to provide underwriting analysis for discrete aspects of the prescreen process which provides an initial review of potential borrowers and their projects. The Senior Underwriter will communicate with borrowers and other external parties, as necessary to complete a quality credit aligned with loan policy. As part of the Lending and Investments team, the Senior Underwriter supports the achievement of team and organization financial and strategic goals.
Responsibilities : Due Diligence
- The Senior Underwriter reviews loan application materials from the borrower and coordinates the commission of third-party due diligence reports (e.g., appraisal, plan and cost review, etc.) with Lending Operations staff.
Underwriting
Credit Approval
Requirements :
The requirements listed below are representative of the knowledge, skill, and / or ability required. We're committed to creating an inclusive environment and will make reasonable accommodations to enable individuals with diverse abilities to excel in performing the essential functions of this role.
Education and Experience :
Required Skills :
The ideal candidate for this position will have these key qualifications :
Work Location :
Reinvestment Fund can offer two options for this role : Either a flexible work arrangement that is a hybrid home / office for individuals located near our Atlanta or Philadelphia offices (2 days per week in office), or a fully remote work arrangement (maintaining Eastern Time Zone hours) with occasional travel to our Atlanta or Philadelphia offices. There is also an expectation that additional travel will be occasionally required to Reinvestment Fund’s Philadelphia, PA, headquarters.
Compensation and Benefits :
Reinvestment Fund offers a competitive salary based on experience and skills, as well as an excellent benefits package including employer-paid health, disability and life insurance, 401(k) savings plan with employer match, flexible spending accounts (medical, dependent care and transportation), tuition reimbursement, paid time off, and EAP program.
The salary range for this position at commencement of employment is expected to be between $130,000 and $150,000 / year, however, base pay offered may vary depending on multiple individualized factors, including market location, job-related knowledge, skills, and experience.
If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department / team performance, and market factors.
Reinvestment Fund uses E-Verify to validate all new hires' ability to legally work in the United States and all new hires may be subject to a background check.
Reinvestment Fund is an Equal Opportunity Employer. We do not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disability, or status as a veteran. Reinvestment Fund is committed to diversity, equity and inclusion (DEI) throughout our organization and in our external investment practices.
Reinvestment Fund, Inc. has an affiliate, RF Impact Advisers, Inc. (“RFIA”) that is a state-registered investment adviser. In order to advance compliance with and prevent violations of federal and state securities laws and to avoid even the appearance of a conflict of interest, RFIA has adopted a Code of Ethics to govern certain conduct of its staff, including certain staff of Reinvestment Fund because Reinvestment Fund is an advisory affiliate of RFIA. As part of this Code of Ethics, there are specific personal reporting and other requirements and disclosures of personal financial and / or securities transactions information for certain individuals, and this reporting may extend to your household members.
Salary : $130,000 - $150,000
