CRA Debt & Equity Underwriter
Locations: Sandy, UT; Multiple locations
Work Arrangement: Remote
Employment Type: Full-time
Requisition ID: 22292
About the Employer
Ally Financial is a customer-centric, leading digital financial services company with passionate customer service and innovative financial solutions. The company is relentlessly focused on "Doing it Right" and being a trusted financial-services provider to consumer, commercial, and corporate customers.
Role Summary
Ally's CRA team is a highly specialized group within the Bank dedicated to positively impacting communities through CRA-qualifying loans, investments, and services. The Underwriter – CRA structures and underwrites affordable housing debt and equity transactions from screening through closing, prepares and presents credit approval documentation through Ally's internal process, and partners with internal collaborators to deliver loans or investment proposals with strong credit underwriting, while balancing risk, return and community impact objectives. This role is based in Sandy, UT with additional office locations in Centennial, CO; Salt Lake City, UT; Dallas, TX; Chicago, IL; Detroit, MI; and Charlotte, NC.
What You'll Do
- Underwrite affordable housing construction loans and multi-property LIHTC investments, including sponsor/guarantor analysis, sources/uses and development budget review, operating pro forms, stress testing, and repayment capacity
- Structure loans and equity investments to align risk/return and policy: sizing, pricing, leverage, guarantees, reserves, escrows, covenants, and conditions precedent; support alignment to internal credit standards and program requirements
- Oversee and interpret third-party due diligence (appraisals, environmental, construction, engineering, market studies) and translate findings into clear risk identification, mitigants, and closing requirements
- Draft credit approval packages and present transactions to internal approval partners, clearly articulating key risks, mitigants, and any requested policy exceptions
- Partner with manager to screen opportunities, assess sponsor and market fundamentals, price and size transactions, and negotiate key business terms (term sheets/LOIs) to balance competitiveness and credit rigor
- Drive execution from approval through closing: coordinate internal collaborators and external parties (borrowers, counsel, syndicators) to meet timelines and funding requirements
- Support portfolio and asset performance for assigned relationships: monitor construction progress/draws (as applicable), covenant compliance, waivers/amendments, watchlist tracking, and timely escalation of emerging risks
- Maintain strong documentation and data integrity across systems to support controls, audits, and reporting
- Participate in Ally Bank's community outreach programs, including volunteer and leadership opportunities with non-profit organizations, to contribute to the Bank's CD service hour requirements
Required Qualifications
- 7+ years of relevant experience or equivalent combination of education and experience
- High school Diploma or GED equivalent
Preferred Qualifications
- Bachelor's degree in finance, real estate, economics, accounting, or a related field
- 7+ years of experience in affordable multifamily lending, community development finance, and/or related real estate credit with progressively increasing responsibility
- Experience underwriting affordable housing construction loans and multi-property LIHTC investments, including sponsor/guarantor analysis, sources/uses and development budget review, operating pro forms, stress testing, and repayment capacity
- Deep knowledge of affordable housing lending structures and programs, including LIHTC-related capital stacks, construction risk, permanent takeout, and subsidy/agency requirements
- Strong underwriting and cash flow modeling skills (Excel), including DSCR sizing, sensitivity/scenario analysis, and clear documentation of assumptions and conclusions
- Ability to manage multiple active transactions and coordinate cross-functional deal teams from term sheet through closing
- Strong written and verbal communication skills, including drafting credit approval memoranda and presenting transaction analyses to credit and business stakeholders
- High integrity, attention to detail, and disciplined documentation/control practices
- Proficiency with Microsoft Office (Excel, PowerPoint, Word); comfort working across multiple systems and maintaining data quality
- Commitment to community impact/CRA-related objectives and an understanding of how transactions support those goals
- Ability to travel
Compensation
$90K–$150K. This position is eligible to participate in an annual incentive plan.
Benefits
Medical, dental, and vision coverage; employee, spouse, and child life insurance; short- and long-term disability; pre-tax Health Savings Account with employer contributions; Healthcare FSA; critical illness and accident & hospital indemnity insurance; 401(k) retirement savings plan with matching and company contributions; student loan paydown assistance; 529 educational savings assistance; tuition reimbursement; employee stock purchase plan; adoption, surrogacy, and fertility assistance; paid parental and caregiver leave; Dependent Day Care FSA with backup child and adult/elder care days and childcare discounts; 20 paid time off days plus 11 paid holidays and 8 hours of volunteer time off yearly; Mentally Fit Employee Assistance Program; subsidized Weight Watchers program; employee discount programs; total well-being program; financial learning center and financial coach access. Depending on the role, you may be eligible for travel allowances, relocation assistance, a signing bonus, and/or equity.
Equal Opportunity Statement
Ally is an equal opportunity employer committed to diversity and inclusion in the workplace. Ally is committed to working with and providing reasonable accommodation to applicants with physical or mental disabilities.
Additional Information
At this time, Ally will not sponsor a new applicant for employment authorization for this position. Application closing date: 06-08-26.
