Assistant Underwriter

Title: Assistant Project Manager

Department: Underwriting

FLSA Status: Exempt

Reports to: Vice President of Underwriting

Overview:

The Assistant Project Manager (APM) will provide support to various Project Managers in the Underwriting Department in underwriting and closing equity investments on affordable housing communities throughout the nation, utilizing federal Low Income Housing Tax Credits (LIHTC). The APM is responsible for financial analysis, managing due diligence, assisting in the preparation of committee and investor packages for approval, managing third party vendors, and providing support to the Project Managers in enhancing existing and new relationships with the developers and investors WNC works with.

Responsibilities:

• Manage and oversee the underwriting checklist(s) and due diligence collection.
• Perform financial analysis of a project, which includes operating expense analysis, sensitivity analysis as requested, and updates to projections.
• Perform project feasibility assessment, which includes market analysis, assessment of historical operations, and managing and reviewing due diligence on a project from underwriting to close.
• Initiate and manage third party reports, such as market studies, construction plan and cost reviews, seismic studies, and environmental desk reviews.
• Provide support to the Project Managers in preparing a package for Investment Committee. This will include drafting of the Investment Package, with underwritten information on the development team and their experience, including financial capacity and real estate performance.
• Assist with closing, such as reviewing insurance certificates, draft settlement statements, payment, and performance bonds to ensure conformance with WNC’s requirements.
• Prepare funding packages for project closings and ensure a smooth closing by following up on any outstanding items still needed to fund.
• Assist with the transition to Asset Management, including closing out the project and ensuring all final agreements, such as partnership agreement, loan documents and other relevant documents, are reflected in a closing folder as part of the transition.
• Other duties as assigned.

Qualifications:

• Proficient in Microsoft Office
• Strong attention to detail and ability to manage and perform multiple tasks at the same time.
• Strong organizational skills required.
• Strong verbal, written and interpersonal communication skills and the ability to work well with others.

Education & Experience:

• Bachelor’s Degree in Business, Economics, Finance, Real Estate or equivalent.
• 2 - 3 years of experience in real estate or affordable housing required or Master’s degree in related field in lieu of work experience.

The above information is intended to describe the general nature and level of work being performed by employees assigned to this job. It is not intended to be an exhaustive list of all responsibilities, duties, and skills required.

Benefits & Opportunities:

• WNC is an equal opportunity employer that is committed to a diverse and inclusive workforce that considers all qualified applicants without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
• WNC offers a competitive benefits package which includes medical, dental, and vision insurance, paid time-off, 401k match, life insurance, and long-term disability.

The compensation listed represents the expected salary for this position. A candidate's work experience and other job-related factors will also be considered.

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