Summary: Merchants Bank of Indiana is seeking an experienced multifamily affordable underwriter. The Senior Underwriter is a management role and is responsible for the oversight and development of the Bank’s Investment Real Estate Credit Analysts. The Senior Underwriter’s team is responsible for ensuring the timely and accurate underwriting of multifamily mortgage loan transactions in accordance with Merchants Bank guidelines. Responsibilities include, but are not limited to, effective onboarding of new credit applications, monitoring the progress of the Credit Anaylsts’ underwriting, and review of loan requests prior to Loan Committee submission.
The Senior Underwriter will work closely with members of the organization’s originations, closing, and servicing teams. This role may take lead on special projects. The Senior Underwriter may have customer interactions with occasional travel to perform site visits.
Essential Duties and Responsibilities:
- Attend new credit kick-off calls, both internally and externally with the client.
- Lead a team of less experienced underwriters (including training, providing guidance, and delegating and overseeing the timely execution of tasks and transactions)
- Review approval narratives prior to Loan Committee submission to ensure the application request meets Bank’s credit standards and all risks and mitigants are addressed.
- Manage communications among a diverse mix of internal and external participants including borrowers, equity investors, production, legal (internal and external) and loan approvers.
- Collaborate with credit analysts to confirm adequacy of due diligence (DD) for the loan file.
- Work extensively with Microsoft Excel in financial models as it relates to the underwriting and flow of funds on transactions.
- Alongside of Credit Analysts, review amendment requests and closing documents to ensure clear to close.
- Attend training on applicable subjects when available and appropriate for position.
- Perform other duties as assigned.
- Minimum of four-years underwriting experience required, ideally within the multifamily real estate industry.
- Ability to analyze real estate projects for feasibility including developing and modeling construction budgets, operating pro formas, reviewing appraisals and other 3rd party reports, analyzing market factors, completing sponsor analysis as well as identifying and mitigating transaction risks.
- Strong knowledge of or the desire to learn the nuances of affordable housing, bond and LIHTC transactions.
- Bachelor's degree in finance, real estate, or related field preferred.
- Requires critical thinking skills and multitasking.
- Excellent customer service skills in person and on the phone.
- Excellent skills in working with Microsoft Word, Excel, and Outlook are a requirement.
All employees are expected to contribute to the overall success of the organization by performing requested duties regardless of explicit inclusion in the job description or reasonable relation to an employee’s primary role. Additionally, all employees must understand and adhere to all federal and state laws and banking regulations and company policies and procedures applicable to assigned job responsibilities, including compliance as appropriate under the Bank Secrecy Act and Anti-Money Laundering regulations.
Additionally, all employees are expected to demonstrate the following Core Competencies:
Professionalism – acting with responsibility, integrity and accountability; demonstrating consistent trustworthiness and reliability; always remaining flexible, adaptable and willing to accept coaching; building and managing professionally healthy relationships; deliberately managing career decisions; and continually developing awareness of business-related topics.
Communication – understanding various active and passive tools and styles and their effects; and exhibiting appropriate, effective, timely use of tools and styles to connect, collaborate, facilitate teamwork and serve customers.
Work Quality – demonstrating an ongoing commitment to compliance, safety and security; executing work with efficiency, a sense of urgency and attention to detail; and displaying organized work practices and a results-oriented mindset.
Analytical Ability – navigating work-related circumstances with practical, sound reasoning; and demonstrating creativity in problem solving.
Leadership – displaying good judgment and certainty in decision making; taking initiative with job-related demands; demonstrating innovative thinking and sound planning with business practices; managing individual performance toward shared organizational goals; and thinking strategically to set and accomplish goals.
Merchants Bancorp and its affiliates and subsidiaries are committed to being equal opportunity employers. All job candidates and incumbents will be assessed based on only criteria relevant to successfully performing the job as defined in this job description and as generally accepted in the job’s relevant industries.