Vice President, Commercial Underwriting - Affordable Housing

Job Title:
Vice President, Commercial Underwriting - Affordable Housing

Location:
CityScape

What you'll do:
As a Commercial Underwriter III - Affordable Housing, you'll be responsible for underwriting complex loan requests and renewals for working capital lines of credit, commercial real estate loans, term loans, formula-based lines of credit, and other Bank lending products, with an emphasis on multifamily affordable housing transactions. These may include 4% and 9% LIHTC projects, tax-exempt bond financings, and structured executions involving multiple layers of public and private capital. You'll build and maintain relationships with lending officers, developers, syndicators, and agency representatives, and will frequently review unique or nontraditional deal structures requiring deep analysis and coordination. Key responsibilities include evaluating financial performance, capital structure, collateral, and market factors to identify, assess, and mitigate credit risk. You may mentor junior underwriters and analysts in financial analysis, deal structure, and affordable housing program knowledge while ensuring that transactions comply with Bank policy and regulatory standards.

• Perform specialized financial analyses of complex affordable housing transactions, including multi-layered debt and equity structures.
• Provide detailed credit information and references for customers, loan officers, or other agencies as requested.
• Evaluate borrower, guarantor, and developer financial strength; analyze liquidity, contingent liabilities, and exposure concentrations.
• Perform detailed underwriting of construction-to-permanent executions and direct-pay letter of credit structures associated with tax-exempt bond deals.
• Review third-party reports (appraisals, market studies, environmental assessments) for compliance with Bank standards and affordable housing requirements.
• Model loan cash flows incorporating LIHTC equity, deferred developer fees, subordinate debt, and public funding sources.
• Prepare comprehensive credit memoranda, incorporating both financial risk assessment and qualitative mission-driven impacts.
• Participate in client and agency meetings as necessary to discuss deal structure, mitigate risk, and ensure execution alignment with Bank strategy.
• Mentor junior underwriters and analysts, providing guidance on affordable housing program mechanics, cash flow modeling, and credit presentation standards.

What you'll need:

• 6+ years of related experience, including at least 3 years in affordable housing, community development, or commercial real estate lending.
• Bachelor's degree or equivalent experience required; advanced degree or affordable housing certification preferred.
• Advanced knowledge of general commercial banking operations, including deposit operations, loan administration, and treasury management.
• Strong understanding of LIHTC program structure, tax-exempt bond executions, and layered capital sources used in affordable housing finance.
• Advanced knowledge of applicable regulatory and legal compliance obligations, including CRA, fair lending, and community reinvestment standards.
• Advanced analytical and writing skills with ability to craft high-quality, well-supported credit recommendations.
• Proficiency with Excel and real estate financial modeling tools; ability to manage multiple, complex transactions with tight timelines.
• Advanced speaking and writing communication skills.

Benefits you'll love:
We offer all the important things you'd want - like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you'll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!

About the company:

Western Alliance Bank is a wholly owned subsidiary of Western Alliance Bancorporation. Alliance Bank of Arizona, Alliance Association Bank, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank are divisions of Western Alliance Bank; Member FDIC. AmeriHome Mortgage is a Western Alliance Bank company.

Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email HR@westernalliancebank.com or call 602-386-2488. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process.

© Western Alliance Bancorporation