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Job Description:
At Regions, the Regions Affordable Housing (RAH) Operations Group Manager is responsible for managing operations, directing strategy in partnership with the President of RAH, acting as the primary liaison for internal risk management third line partners, and managing internal processes and procedures. This role is also responsible for quality assurance during underwriting within the held for sale, held for investing, and lending portfolios. Has direct oversight of the underwriting function. On request, the incumbent represents the totality of RAH to internal and external partners, including institutional investors.
The position is responsible for ongoing oversight of the approval process and in conjunction with others, transaction approval decisions. This role is responsible for quality assurance during underwriting within the held for sale, held for investing, and lending portfolios, and has direct oversight of the underwriting function. . The position is responsible for, staff development and retention, training, succession planning, and other managerial duties for Underwriting, and for all of RAH in concert with the President of RAH and other senior managers.
Primary Responsibilities
- Acts as the primary liaison for RAH's interaction with Credit Risk Review, Internal Audit, and Operational Risk; reports, monitors and coordinates with the President of RAH and other senior managers
- Coordinates risk management activities related to underwriting and operations to respond to internal and external risk management questions and required policy changes
- Monitors adherence to risk management deliverables including the Risk and Control Self-Assessment (RCSA), policies, and procedures; ensures proper reporting; acts as first line liaison for second and third-line partners during transaction approval and underwriting
- Represents RAH to internal and external partners including institutional investors, developer clients, and bank partners in the risk, finance and administrative functions
- Creates operational, strategic, revenue and performance goals; communicates the goals and drives to achieve the objectives; provides routine reporting
- Manages, on behalf of RAH, processes and procedures related to the underwriting of both debt and equity; includes first line oversight of technological platforms such as Closer, MCL, Level 3, and such successor platforms as may exist; collaborates within REB and directs staff resources as needed
- Directly oversees the activities of the RAH Underwriting Group
- Oversees and directs quality control during the underwriting and approval process
- Hires, coaches, and develops the Underwriting Team Managers who in turn lead Underwriting Associates
- Manages annual production goals related to underwriting, approval and closing for debt and equity transactions using the low-income housing tax credit (the “housing credit”), balancing internal risk management and reporting requirements with production and specific closing timeframes
- Manages an active pipeline of transactions in the closing process, forecasts, and communicates closing capacity and timelines with respect to financial analytics and underwriting capacity.
- Partners with Originations and Distribution from initial transaction screening and selection through transaction approval
- Supports staff in discussions and negotiations with investor and developer clients
- Oversees internal legal counsel on matters involving external counsel relationships and consulting internally on legal matters related to both developers and investors
- With internal legal counsel, manages external legal relationships, including quality control, timeliness, adherence to Regions’ standards, required template changes, specific risk issues, and other matters related to external counsel
- Manages and supports the intern and analyst programs administered by the Sales and Strategy team for RAH
- Supports, either directly or through delegation, external recruiting efforts on campus
- Ensures alignment with broader Real Estate Banking performance initiatives and standards
- Manages staff training and supports staff development, including goals and budgeting
- Responsible for long range business planning, strategy and implementation of strategic operational decisions
This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.
This is a single incumbent position.
This position is incentive eligible.
Requirements
- Bachelor's degree in a related field
- Ten (10) years increasing responsibility in real estate, finance, banking or syndication
- Expert level knowledge of affordable housing equity investing and construction lending
- Comprehensive product knowledge and proven client-facing ability
- Proven experience working with institutional investors to close multiple-property funds
Preferences
Skills and Competencies
- Ability to lead a 20+ person team located in geographically distributed offices toward specific revenue and risk management outcomes
- Technical underwriting and asset management specific expertise
Position Type
Full time
Compensation Details
Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.
The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.
Job Range Target:
Minimum:
$193,172.40 USD
Median:
$254,820.00 USD
Incentive Pay Plans:
This role is eligible to participate in a discretionary incentive plan. Employees have the potential to receive a discretionary award based on performance against defined metrics and goals.Opportunity to participate in the Long Term Incentive Plan.
Benefits Information
Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.
- Paid Vacation/Sick Time
- 401K with Company Match
- Medical, Dental and Vision Benefits
- Disability Benefits
- Health Savings Account
- Flexible Spending Account
- Life Insurance
- Parental Leave
- Employee Assistance Program
- Associate Volunteer Program
Please note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions’ benefits, please click or copy the link below to your browser.
https://www.regions.com/welcometour/benefits.rf
Location Details
Atlanta Midtown
Location:
Atlanta, Georgia
Bring Your Whole Self to Work
We have a passion for creating an inclusive environment that promotes and values diversity of race, color, national origin, religion, age, sexual orientation, gender identity, disability, veteran status, genetic information, sex, pregnancy, and many other primary and secondary dimensions that make each of us unique as individuals and provide valuable perspective that makes us a better company and employer. More importantly, we recognize that creating a workplace where everyone, regardless of background, can do their best work is the right thing to do.
OFCCP Disclosure: Equal Opportunity Employer/Disabled/Veterans
Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.
