CRA Debt & Equity Underwriter

General information

Ref # 22292

Remote? Yes

Ally and Your Career

Ally Financial only succeeds when its people do - and that's more than some cliché people put on job postings. We live this stuff! We see our people as, well, people - with interests, families, friends, dreams, and causes that are all important to them. Our focus is on the health and safety of our teammates as well as work-life balance and diversity and inclusion. From generous benefits to a variety of employee resource groups, we strive to build paths that encourage employees to stretch themselves professionally. We want to help you grow, develop, and learn new things. You're constantly evolving, so shouldn't your opportunities be, too?

The Opportunity

Ally's CRA team is a highly specialized group within the Bank dedicated to positively impacting communities through CRA-qualifying loans, investments, and services. While compliance with the CRA is a regulatory requirement for all FDIC-insured banks, at Ally it is a purposeful effort. The team runs a portfolio that supports affordable housing, community services, economic development, and neighborhood revitalization.

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.

At this time, Ally will not sponsor a new applicant for employment authorization for this position.

The Work Itself

• 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

The Skills You Bring

Minimum 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
• Must be able to travel.

How We'll Have Your Back

Ally's compensation program offers market-competitive base pay and pay-for-performance incentives (bonuses) based on achieving personal and company goals. But Ally's total compensation - or total rewards - extends beyond your paycheck and is designed to support and enrich your personal and professional life, including:

• Time Away: competitive holiday and flexible paid-time-off, including time off for volunteering and voting.
• Planning for the Future: plan for the near and long term with an industry-leading 401K retirement savings plan with matching and company contributions, student loan and 529 educational assistance programs, tuition reimbursement, and other financial well-being programs.
• Supporting your Health & Well-being: flexible health and insurance options including dental and vision, pre-tax Health Savings Account with employer contributions and a total well-being program that helps you and your family stay on track physically, socially, emotionally, and financially.
• Building a Family: adoption, surrogacy, and fertility support as well as parental and caregiver leave, back-up child and adult/elder day care program and childcare discounts.
• Work-Life Integration: other benefits including LifeMatters® Employee Assistance Program, subsidized and discounted Weight Watchers® program and other employee discount programs.

Who We Are:

Ally Financial is a customer-centric, leading digital financial services company with passionate customer service and innovative financial solutions. We are relentlessly focused on "Doing it Right" and being a trusted financial-services provider to our consumer, commercial, and corporate customers. For more information, visit

Ally is an equal opportunity employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to age, race, color, sex, religion, national origin, disability, sexual orientation, gender identity or expression, pregnancy status, marital status, military or veteran status, genetic disposition or any other reason protected by law.

Where permitted by applicable law, must have received or be willing to receive the COVID-19 vaccine by date of hire to be considered, if not currently employed by Ally.

We are committed to working with and providing reasonable accommodation to applicants with physical or mental disabilities. For accommodation requests, email us at [email protected]. Ally will not discriminate against any qualified individual who is capable of performing the essential functions of the job with or without reasonable accommodation.

Base Pay Range:

An individual's position in the range is determined by the scope and responsibilities of the role, work experience, education, certification(s), training, and additional qualifications. We review internal pay, the competitive market, and business environment prior to extending an offer.

Emerging: 90000

Experienced: 120000

Expert: 150000

Incentive Compensation: This position is eligible to participate in our annual incentive plan