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Bank of America CREB Underwriter in Chicago, Illinois

Job Description:

Role Overview:

CREB Underwriter (UW) is responsible for performing deal analysis, preparation of supporting justification, and processing approvals. The UW has understanding of key policies and regulations for applicability/impact to a transaction. The UW is a member of the CREB market team, is aligned to LOB regions/markets, supports the SUW and CO teams in a specific market and may be assigned a limited portfolio of clients. The UW is typically an individual contributor who reports to a CREB Senior Credit Product Manager, however, the UW will generally pair with a CO or SUW, or both, and they work as a team to jointly underwrite new transactions as well as perform material modifications to existing facilities. The UW will also advise the CREB portfolio group with any post-closing credit actions as needed. Successful candidates will possess functional knowledge and will have demonstrated strong performance with a focus on collaboration, driving operational excellence and the ability to influence leaders, peers and clients.

For CDB the UW will be responsible for underwriting all aspects of a transaction (i.e., construction debt, non-FHA perm debt and equity) for all product types.

Functional Role Description:

  • New deal analysis and supporting justification

  • Prepare approval documents

  • Support CO and SUW on DSM & Term Sheets

  • CAM preparation and collateral analysis

  • Data capture for new originations

  • Activities associated with renewal, modification and extension of existing facilities where terms are being changed (i.e. extensions beyond final maturity, commitment increases, material covenant changes), including scorecard preparation

Role Qualifications:

  • 5+ years’ experience within a financial institution

  • Bachelor’s degree required, Master’s preferred

  • Knowledge of the primary functions of the Commercial Real Estate Banking teams at Bank of America

  • Familiarity with core banking products

  • Understanding of the regulations and BA policy that govern CRE lending

  • Adept at gathering and analyzing market and portfolio information

  • Solid experience in financial analysis, structuring, underwriting and portfolio management, strong communication and analytical/technical skills, including financial accounting, modeling and loan structuring.

  • Strong writing skills

  • Maintains knowledge of other BofAML products including Investment Banking, Interest Rate Hedging, and Treasury Management that have credit exposure, and leverages product expertise to deliver the best possible solution for the client or prospect.

Additional qualifications for CDB:

  • Strong knowledge of the primary functions of the Community Development Banking teams at Bank of America

  • Experience underwriting construction and permanent debt and/or equity for affordable rental housing projects, financed using the federal LIHTC program as well as a thorough understanding of the regulations that govern affordable housing lending and/or investing

  • Evidence of experience and skill in quantitative analysis in debt and/or equity for affordable rental housing, including the use and interpretation of complex models; taxable and tax-exempt financing; GAAP and tax accounting treatment; and permanent financing, both government and private

Leadership Competencies:

  • Demonstrates business and financial acumen

  • Ensures self and others maintain a focus on client needs

  • Delivers practical, innovative solutions to customers/clients that meet their individual needs

  • Demonstrates and encourages collaboration, connection and teamwork within and beyond his/her team

  • Is intellectually curious; constantly seeks to learn and advance his/her knowledge

  • Remains positive and focused during times of pressure, adversity, or change

  • Is resilient; quickly adjusts behaviors in order to be successful.

  • Communicates clearly, both in writing and speaking using concise and simple language

  • Demonstrates a bias for action and a commitment to achieving sustainable results

  • Makes timely and fact-based decisions

  • Ensures rigorous thinking and analysis have been used when making a decision

Posting Date : 09/09/2019

Location :

Chicago, IL, 135 S LA SALLE ST (IL4135),

  • United States

Travel : Yes, 5% of the time

Full / Part-time : Full time

Hours Per Week : 40

Shift : 1st shift

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Diversity & Inclusion

At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

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