PNC Underwriter II - Tax Credit 

United States, Oregon, Portland 

112149501

This position is for an underwriter for equity investments in Low Income Housing Tax Credit transactions. Knowledge of, or experience in, the LIHTC field is a plus, but not a requirement. This role initially is to support the lead underwriter while you learn this very complex business. Initial responsibilities include tracking due diligence, ordering and reviewing third-party reports, spreading and analyzing financial statements, conducting operating expense analyses, completing the market section summary of the approval package, and other sections, as assigned. In addition, you will assist the lead underwriter in navigating PNC’s internal processes and procedures. With more experience, you will take on more responsibility and eventually your own deals. This will entail leading all aspects of the transaction, including running the financial models, negotiating the partnership agreement and loan documents, running the weekly calls with the development team and attorneys, reviewing all documentation relating to the transaction and identifying, understanding and mitigating any risks, and presenting the deal at committee, etc. Successful candidates are organized, detail-oriented, can communicate clearly both in writing and verbally, and take ownership.Job Description

• Works under limited supervision or independently. Using independent judgment to identify risks and mitigants, prepares and effectively recommends loan offerings based on scorecards, such as risk ratings, by analyzing credit, collateral strength and financial worthiness of loan/transaction parties and also may have limited approval and/or exception authority. Prepares offerings for specific transactions or in management of a portfolio as assigned and interacts with internal/external customers. May provide recommendations for credit structuring.
• Using independent judgment to identify risks and mitigants, prepares and effectively recommends loan offerings based on scorecards, such as risk ratings, by analyzing credit, collateral strength and financial worthiness of loan/transaction parties. If relevant, performs ongoing credit risk management for assigned portfolio.
• Contacts internal/external customers and other parties as appropriate to gather information and to clarify inconsistent, incorrect or missing information. May perform relevant pre-approval and post-approval activities.
• Performs or assists with the identification and/or confirmation of all external regulatory requirements. Ensures internal policies/procedures are followed.
• Makes recommendations on credit decisions or makes credit decisions directly, as appropriate.
• Knowledge of IRS Code Section 42 and 47, equity structures and documentation, market research (including onsite inspections and market comp analysis), and 3rd party or external guidelines.

PNC Employees take pride in our reputation and to continue building upon that we expect our employees to be:

• Customer Focused - Knowledgeable of the values and practices that align customer needs and satisfaction as primary considerations in all business decisions and able to leverage that information in creating customized customer solutions.
• Managing Risk - Assessing and effectively managing all of the risks associated with their business objectives and activities to ensure they adhere to and support PNC's Enterprise Risk Management Framework.

Qualifications

Successful candidates must demonstrate appropriate knowledge, skills, and abilities for a role. Listed below are skills, competencies, work experience, education, and requiredneeded to be successful in this position.

Credit Decisions, Decision Making, Financial Analysis, Identifying Risks, Process Improvements, Results-Oriented, Risk AssessmentsAccuracy and Attention to Detail, Credit Analysis and Verification, Decision Making and Critical Thinking, Knowledge of Underwriting, Managing Multiple Priorities, Market Research, Real Estate Development, Real Estate Practice, Real Estate Property Data Analysis, Real Estate Sales Closings and Agreements, Regulatory Environment - Financial ServicesRoles at this level typically require a university / college degree, with 2+ years of relevant professional experience. In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.No Required Certification(s)No Required License(s)

This position is subject to the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA) and, for any registered role, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) and/or the Financial Industry Regulatory Authority (FINRA), which prohibit the hiring of individuals with certain criminal history.

California Residents

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