Job Title: Director, Underwriting
Reports To: Chief Investment Officer
Status: Full-time, Exempt
Location: Washington, D.C.
Open: Until filled
Summary of Position
DC Green Bank is hiring a Director, Underwriting (Director) to help scale up clean energy investment across District of Columbia. The Director is fundamental to DC Green Bank’s work of originating transactions that deliver climate benefits and savings outcomes to customers. Core responsibilities include:
- Developing financial structures and reviewing credit for potential projects.
- Underwriting structured debt transactions.
- Engaging with partner financial institutions.
- Providing market and credit support in product development.
- Supporting the Business Operations team in portfolio and credit management.
DC Green Bank employs many financing techniques to leverage its funds in partnership with other financial institutions, including conventional loans, credit enhancements, co-lending, and other structures (such as DC-PACE). The successful candidate should be a knowledge source within the investment team for structuring and underwriting transactions using different approaches of senior debt, participation -lead lender, and mezzanine finance.
Principal Duties and Responsibilities
DC Green Bank’s Investment Team is dedicated to originating and closing transactions across different sectors within the geographic boundaries of District of Columbia. The team includes investment professionals dedicated to business development, underwriting, project management, and sector-specific originations such as nonprofit solar and energy efficiency. The team works together closely to achieve the investment goals of the DC Green Bank.
The Director will be the principal party to guide the underwriting and credit of transactions. Specifically, the Director will be responsible for:
o Guiding the originations team on the credit and development of financial structures.
o Evaluating market, sector, and counterparty information in support of originations.
o Underwriting conventional loans, transactions using loan loss reserves, participations, and other structured finance approaches.
o Manage underwriting team
o Analyzing and evaluating due diligence documentation related to sponsor, property characteristics, operating history, property inspection, market, etc.
o Verifying assumptions contained in pro forma financials and determining if projects should be updated with more realistic assumptions.
o Evaluating adequacy of cash flows to service proposed debt structures and other credit metrics.
o Preparing underwriting approval packages for credit committees.
o Providing innovative underwriting approaches based on market behaviors while efficiently analyzing, mitigating, and clearly defining credit risk.
o Engaging with partner financial institutions to shape underwriting and transaction development.
o Developing term sheets and commitment letters and support closing deal in conjunction with legal
o Providing market and credit support in the creation and adaptation of DC Green Bank products.
o Working with senior management on portfolio and credit management.
Education
Minimum of bachelor’s degree in Finance, Accounting, Business, Real Estate, or other related field when paired with experience.
Experience, Skills and Abilities
To achieve the stated objectives, the DC Green Bank is looking for the following experience:
o Ten or more years of related work experience in commercial finance.
o Credit training or demonstrated experience in credit and underwriting roles.
o Knowledge of real estate property fundamentals and real estate lending/underwriting.
o Experience in clean energy and/or energy efficiency is desired.
o Proven track record of reviewing financial and real estate documents for due diligence and transaction execution purposes.
o Willingness to develop standards, products, and provide innovative support to new originations.
o Strong written and verbal communication skills.
o Demonstrated proficiency with Microsoft Excel and Word.
o Capable to work independently while supportive of a team.
Equal Opportunity
DC Green Bank is committed to the principles of equal employment. It complies with all federal, state, and local laws providing equal employment opportunities and all other employment laws and regulations.
Location: Washington, DC; hybrid work environment, currently two (2) days in the office and three (3) days remote.
Salary is commensurate with experience.
About DC Green BankDC Green Bank develops and facilitates innovative financial solutions to support District businesses, organizations, and residents on the path to a cleaner future for all. We invest in solar energy systems, energy-efficient buildings and retrofits, green stormwater infrastructure, and transportation electrification in line with our values of Sustainability, Clean Economy, and Inclusive Prosperity. To date, DC Green Bank has invested millions of dollars in a cleaner, greener, and more equitable future. To learn more, please visit us at www.dcgreenbank.com.