The Citi Community Capital (CCC) Business within Citi’s Institutional Credit Management (ICM) Division, is seeking to hire a Multifamily Underwriting Vice President. Citi Community Capital (CCC) provides a suite of financial products to help affordable housing developers construct, rehabilitate, refinance, and acquire affordable multifamily housing across the country. Committed to the communities we serve, CCC finances both straightforward and highly structured transactions for non-profit and for-profit affordable housing developers, community Development Financial Institutions, and state and local government agencies. It is the mission of CCC to be the preferred financial partner for affordable housing developers, non-profits and governmental entities that focus on community development. We provide our clients with a distinctive, remarkable experience based on world class responsiveness, customer service, creativity, and superior execution. This mission will be accomplished while delivering superior financial performance for Citi, consistent and impactful CRA results, and an inclusive and rewarding experience for our employees. The Underwriter is a strategic professional who stays abreast of developments within own field and contributes to directional strategy by considering their application in own job and the business. Recognized technical authority for an area within the business. Requires basic commercial awareness. There are typically multiple people within the business that provide the same level of subject matter expertise. Developed communication and diplomacy skills are required to guide, influence, and convince others, in particular colleagues in other areas and occasional external customers. Significant impact on the area through complex deliverables. Provides advice and counsel related to the technology or operations of the business. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job family. **Responsibilities:** Manage the ongoing performance and oversee the credit quality of an active portfolio of construction loans financing the new construction and in-place rehabilitation of affordable multifamily developments throughout the United States by: + Confirming and monitoring the overall sources and uses in the development budget for new and rehab construction deals from loan closing to loan conversion or repayment. + Analyzing the availability of the flow of funds during construction and understanding the nuances and restrictions on the various funding sources as well as specific requirements for funding the project costs. + Reviewing and approving monthly construction loan advances in adherence with funding priority, funding restrictions and state specific lien law requirements. + Monitoring monthly property performance and absorption during lease up by tracking occupancy and net operating income against underwritten projections. + Independently and proactively monitoring covenant compliance requirements from guarantors. + Ensuring borrowers adhere to terms and conditions under the loan documents, taking a leadership role in problem solving and resolving any past due issues. + Preparing and presenting credit recommendations for material credit actions that require credit committee approval such as loan extensions, modifications, restructures, participations. + Conducting annual review of the recourse exposure of client relationships by assessing the financial strength of the sponsor and guarantors, analyzing project performance against milestones for repayment or conversion and understanding current market conditions. + Proactively identifying and escalating issues that warrant additional investigation and internal discussion such as scheduling delays, cost overruns, accelerated contingency usage, stabilization delays or uncertainty of sources of repayment that may result in a delay in repayment or conversion, recommending and processing classification changes. + Conducting periodic risk rating analysis on the sponsor strength, project performance and weighted average risk rating of the recourse relationship. + Updating the property valuations through internal assessments or external appraisals based on current market conditions and overall performance of the property. + Externally interacting with borrowers, tax credit syndicators, bond issuers, subordinate lenders, legal counsel and other transaction parties. + Internally interacting with bankers, underwriters, closers, risk managers, construction managers, asset specialists and credit managers. **Qualifications** + Experience in Affordable housing development, underwriting, asset management in any combination of the three in the field of Real Estate finance, Urban Planning and /or Community Development. + 3+ years construction loan management or underwriting experience, preferably in the affordable housing industry + Real estate construction financing plus. + Self-starter, self-motivated and results-oriented individual. + Strong organizational skills + Self-motivated person who thrives in a dynamic work environment and demonstrates a flexible and adaptable work style that responds quickly. + Individual must have excellent verbal and written communication skills, organizational and interpersonal skills, as well as the ability to manage multiple assignments at once under tight deadlines. + Strong quantitative skills with a high proficiency with Excel and other Microsoft based programs. + Energetic individual who shows initiative, is a team player, and has a positive attitude to change. + **Education -** BA/BS in Finance or Real Estate preferred. This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required. ------------------------------------------------------ **Job Family Group:** Risk Management ------------------------------------------------------ **Job Family:** Credit Decisions ------------------------------------------------------ **Time Type:** Full time ------------------------------------------------------ **Primary Location:** Los Angeles California United States ------------------------------------------------------ **Primary Location Full Time Salary Range:** $103,680.00 - $155,520.00 In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire. ------------------------------------------------------ **Anticipated Posting Close Date:** Dec 25, 2024 ------------------------------------------------------ Citi is an equal opportunity and affirmative action employer. Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. 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