Managing Director, Credit & Underwriting

Managing Director, Credit & Underwriting

CREA, LLC is a full-service low-income housing tax credit (LIHTC) syndicator forming long-term relationships with investors and developers that cultivate success and improve lives. With 25 years in affordable housing, CREA has raised $13.5 billion, resulting in the formation of over 97,500 homes within 1,059 communities across the country. Thanks to the contributions of over 135 employees, CREA continues to seek talented, passionate individuals who are excited about opportunities to grow with us.

Physical Presence: In-Office Tue – Thu | Flexible Mon & Fri

Reports to: President & COO

Open to: Indianapolis, IN (preferred)

Position Summary:

The Managing Director, Credit & Underwriting (the "Managing Director") leads CREA's Credit & Underwriting function and develops their staff to achieve both personal and corporate success. This role is responsible for ensuring that each investment complies with program requirements, real estate fundamentals, and industry best practices while providing strategic leadership across underwriting, investment risk evaluation, committee participation, process improvement, and cross-functional collaboration.

The successful candidate will identify and mitigate investment risks, serve as a technical resource in investment review processes, help guide corporate Investment Guidelines and departmental Policies and Procedures, and collaborate with senior leaders and stakeholders to support disciplined growth and efficient execution.

Primary Responsibilities:

• Underwriting Principles
• Lead the Credit & Underwriting department, managing workflow, resources, and staff development to meet company production goals.
• Utilize LIHTC and real estate expertise to identify significant risks to proposed investments and develop strategies to mitigate development team, investment structure, market, operational, tax, compliance, and construction risks.
• Review investment proposal submissions, provide technical guidance to committees and staff, and communicate underwriting findings and conclusions to leadership and appropriate stakeholders throughout the investment process.
• Develop and lead strategic departmental initiatives that support corporate needs, improve efficiency, and align with industry best practices.
• Regularly review and recommend updates to Investment Guidelines, legal and documentation requirements, and departmental Policies and Procedures based on market observations and industry feedback.
• Collaborate with key members of the organization to provide seamless service to CREA stakeholders and help resolve conflicts arising from risk mitigation, structuring, or execution issues.
• Monitor portfolio, partner, and vendor performance to proactively identify concerns, support decision-making, and manage expected outcomes, deliverables, and costs.

• Team Management
• Manage and enhance the Credit & Underwriting team through leadership, hiring, career development, training, and day-to-day guidance.
• Delegate workload, risk exposure, and partner relationships across the team in alignment with experience, capacity, and business priorities.
• Collaborate with Human Resources to maintain job descriptions, assigned responsibilities, career paths, and anticipated departmental staffing needs.

This role offers the opportunity to lead a high-performing underwriting function, strengthen team capabilities, and help shape CREA's approach to disciplined growth & investment within the LIHTC industry.

Requirements:

• A master's degree in real estate, finance, accounting, or a related discipline is required.
• A minimum of ten years of hands-on LIHTC credit / risk experience and strong knowledge of real estate investment principles & financial analysis are required.
• Demonstrated leadership experience with the ability to mentor, inspire, and develop a growing team is essential.
• The ideal candidate is highly motivated, self-directed, organized, and comfortable taking on new responsibilities in a dynamic environment.
• Proficiency in Microsoft Excel, Word, PowerPoint, Outlook, and Co-Pilot is required.
• Travel, including occasional overnight stays, may be required.

Core Competencies:

• Strong initiative and the ability to work with minimal guidance and supervision.
• Proven leadership skills, including the ability to motivate teams, delegate effectively, and drive strategic goals.
• Ability to identify, analyze, and resolve complex issues through critical and creative thinking.
• Ability to manage sensitive and confidential information with sound judgment.
• Excellent oral and written communication skills and the ability to collaborate effectively across a dynamic organization.
• Commitment to creating an inclusive environment through respect, empathy, and opportunity.

Our Values:

• We work as a family, investing in each other, worthy causes, and the communities we serve.
• We have integrity in all that we do; we embrace differences and treat others with kindness and respect.
• We believe that, with teamwork, we can accomplish anything and pursue inventive solutions for our clients.