Sr. Underwriter, Asset Management

Enterprise Housing Credit Investments

Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $80.9 billion and created 1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands - all to make home and community places of pride, power and belonging.

Join us at enterprisecommunity.org

Working at Enterprise

At Enterprise, you'll be part of a diverse, committed team making a difference every day. You will collaborate with some of the smartest minds and biggest hearts in our field. You'll be empowered to drive systems change and take bold steps to advance racial equity. And you will find a career home where you're valued and supported in your growth journey. Enterprise offers career opportunities in our offices across the country with an exceptional benefits package.

Job Description

Enterprise Housing Credit Investments is seeking a seasoned real estate finance professional to manage post-closing to stabilization activities for LIHTC investments within proprietary funds. This role serves as a key liaison between investors, sponsors, and internal teams, ensuring projects transition smoothly from closing through construction, lease-up, and conversion. The position requires deep knowledge of LIHTC underwriting, construction and financial risk assessment, and strong analytical and relationship management skills. Ideal candidates will have 6-8+ years of experience in affordable housing finance, extensive Excel modeling skills, and the ability to manage multiple complex projects in a fast-paced environment.

Responsibilities

• Post-closing to stabilization / conversion project management for assigned projects with proprietary funds.
• Monitor DRM assessment of construction risk, understanding delays, cost overages, and material deviations from the closing expectation.
• Monitor DEM assessment of payment timing and collection of A1 conditions / deliverables with specific attention to key items such as lease-up and tenant file review, cost certification concerns, adjusters, and meeting the Stabilization Test.
• Evaluate effects of delays, changes, costs, and / or material changes on the overall risk profile of the project, making recommendations and coordinating among pre-stabilized teams.
• Serve as the primary underwriting point of contact for assigned projects, under the direction of the respective fund Investor Relations Manager.
• Serve as a consistent point of contact for project sponsors and investors as the project transitions from closing, through construction, lease-up, payments, and conversion.
• Serve as the Lead for all Post-Closing Events on assigned projects.
• For certain high-risk projects, prepare and present Property Overviews for quarterly project performance reviews.
• Underwrite post-closing changes to tax credit investments as assigned, including completion of the following underwriting tasks : sponsorship analysis, market analysis, sources and uses and capital structure analysis, income and expense underwriting, and tax credit documentation analysis.
• Assist with and attend deal closings or other customer service coverage enhancement opportunities and help to complete, organize, and upload / store files for posterity and Asset Management access.
• Serve as the primary Asset Management contact for communication and coordination with EHCI's Acquisitions and Credit teams.
• Establish and lead a proactive effort to share information among pre- and post-closing teams in an effort to improve underwriting efficiency and risk management.
• Participate in and contribute to group meetings and discussions.
• Performs other duties as assigned.

Qualifications

Bachelor's degree in Business, Accounting or Finance, or related field required. Master's degree preferred.

6-8+ years' experience in real estate finance, affordable housing and / or LIHTC program, apartment market dynamics in both urban and suburban areas, and familiarity with industry policies, issues, and programs.

Extensive knowledge of LIHTC, experience in closing real estate transactions, and strong financial analysis skill is required.

Ability to manage multiple tasks effectively under significant time pressure to meet closing deadlines.

Extensive Excel modeling skills required. Proficient knowledge of MS Word and Power Point a plus.

Strong writing / editing skills needed to produce correspondence and reports.

Prior management experience.

Demonstrated verbal communication and interpersonal skills to represent company to all parties.

Demonstrates professionalism, diplomacy and composure and is flexible and able to adapt to a variety of situations.

Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands and meet deadlines.

Must be highly motivated, be able to work independently, solve problems and possess strong written and oral communication skills.

Incumbent is expected to demonstrate strong ethics in interpersonal relations and work as an effective, collaborative team member.

Ability to maintain big picture focus while attending to detailed work and providing thorough documentation.

Demonstrated ability to work productively and accurately in a fast-paced environment with multiple projects and stringent deadlines.

Ability to work evening and weekend hours during peak periods.

Total Rewards at Enterprise

You will be working with a group of talented professionals who are motivated by serving the community and addressing the need for affordable housing. Enterprise offers a comprehensive total rewards package for you and your family. The base salary for this role is $134,000-$163,000, depending on level of skills and experience. The salary range for this position is represented by the low and high end of the range for the amount to be paid for the position. Salaries paid at Enterprise will vary based on factors that may include skills, education, location, experience, and performance. The salary range is just a part of the total rewards package provided to employees at Enterprise, and other rewards may include annual performance bonuses and generous paid leave programs.

At Enterprise, our benefits form a major component of our total rewards package. Benefits include dental, health, and vision care plans, as well as family-building benefits, such as adoption and surrogacy support. Enterprise allows flexible work arrangements to promote a better work-life balance. We offer health advocacy, EAP, and mental health benefits. We round out our total rewards package by offering financial education, wellness programs, and auto-enrollment in the company's 401(k) plan with employer matching contributions. Finally, you will have learning and development opportunities, including tuition reimbursement for job-related courses and certifications.