Senior Underwriter - Community & Development Investment (Finance)

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

This position is responsible for underwriting community development and impact investments, assisting with CRA (Community Reinvestment Act) reporting and exams, reviewing internal reports, presenting at client meetings and industry conferences, and assisting with the development of the underwriting talent pipeline. The role requires specific knowledge of CRA and the underwriting of non-profit investments.

Major Duties:

• Participate and lead calls/meetings with potential nonprofit partners to determine capital needs and evaluate the investment opportunities.
• Fully underwrite and present investment opportunities to the Executive CRA Committee.
• Complete the due diligence of potential and renewal investments.
• Assist with CRA reporting, exam preparation and examination.
• Develop reporting metrics for both the CRA examination, business unit and Corporate requirements.
• Uses sophisticated analytical concepts to exercise judgement and identify innovative solutions in areas of finance, investment performance, investment underwriting, regulatory compliance, risk management or other areas as needed.
• Collaborate with colleagues across the bank to maintain an Outstanding CRA rating, further the ability of the team to add value to client relationships and drive new business development.
• Execute Board approved Community Reinvestment Act Policy and standard accounting practices and procedures.
• Work with Compliance on the Compliance Risk Assessment and track regulatory changes.
• Assist in the development of training materials and presentations for regulatory change management targeting various levels of the Corporation.
• Lead the development of Management and Regulatory Agency reporting.

Knowledge:

• Requires specialized in-depth and/or breadth of expertise in underwriting non-profit investments.
• Must have substantial knowledge of the Community Reinvestment Act (CRA) (10+ years).
• Interprets internal/external business challenges, develops, and recommends best practices to improve products, processes or services.
• Communicates difficult concepts and negotiates with others to adopt a different point of view.
• Works independently within a team and is flexible in adapting to a fast-paced work environment.

Experience:

• Excellent communication and presentation skills to senior management.
• Demonstrated leadership of functional teams or projects with moderate resource requirements, risk, and/or complexity.
• Experience that demonstrates knowledge/skills required for successful completion of duties and a passion for the mission of the overall work.
• Must have direct experience underwriting non-profits, Community Development Financial Institutions, Low Income Housing Tax Credits, New Market Tax Credits, and Social Impact Bond/ Pay for Success Transactions.

#LI-Hybrid

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com .

We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.