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Citigroup Citi Community Capital, Multifamily Underwriting - AVP in New York, New York

The Citi Community Capital (CCC) Business within Citi’s Institutional Credit Management (ICM) Division, is seeking to hire a Multifamily Underwriting Assistant 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 seasoned professional role. Applies in-depth disciplinary knowledge, contributing to the development of new techniques and the improvement of processes and work-flow for the area or function. Integrates subject matter and industry expertise within a defined area. Requires in-depth understanding of how areas collectively integrate within the sub-function as well as coordinate and contribute to the objectives of the function and overall business. Evaluates moderately complex and variable issues with substantial potential impact, where development of an approach/taking of an action involves weighing various alternatives and balancing potentially conflicting situations using multiple sources of information. Requires good analytical skills in order to filter, prioritize and validate potentially complex and dynamic material from multiple sources. Strong communication and diplomacy skills are required. Regularly assumes informal/formal leadership role within teams. Involved in coaching and training of new recruits Significant impact in terms of project size, geography, etc. by influencing decisions through advice, counsel and/or facilitating services to others in area of specialization. Work and performance of all teams in the area are directly affected by the performance of the individual.


Develop recommendations to adjust credit policies by analyzing credit and financial performance utilizing statistical scoring, segmentation, regression and simulation techniques

Implement initiatives to ensure consistency and compliance with credit policies

Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.

Managing a portfolio of active construction deals.

Confirming and monitoring the overall sources and uses 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.

Working with internal partners in loan servicing, construction management and credit risk to review and approve 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 loans for covenant compliance and adherence 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 interact with borrowers, syndicators, issuers, subordinate lenders, legal counsel and other transaction parties.

Internally interact with bankers, underwriters, closers, risk managers, construction managers and loan servicing.


5-8 years relevant experience

Previous experience in credit card risk management or equivalent training and experience preferably in the financial services industry

Ability to apply credit and risk principles toward business goals

Demonstrated ability to synthesize, prioritize and drive results with a high sense of urgency

Must be highly organized and able to work in a fast paced environment managing multiple projects and possess effective interpersonal, organizational and analytic skills


Bachelor’s/University degree or equivalent experience

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:

New York New York United States

Primary Location Full Time Salary Range:

$109,120.00 - $163,680.00

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 Available offerings may vary by jurisdiction, job level, and date of hire.

Anticipated Posting Close Date:

May 31, 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. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi ( .

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Citi is an equal opportunity and affirmative action employer.

Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.