CRA Debt & Equity Underwriter

Ally Financial only succeeds when its people do — more than the cliché found in many postings. We live it: seeing our teammates as people with interests, family, friends, dreams, and causes that matter to them. Our focus is on health and safety, work‑life balance, and diversity and inclusion. From generous benefits and employee resource groups we strive to build paths that encourage growth, development, and learning.

You’re constantly evolving — should your opportunities too?

Work Schedule:

Ally designates roles as (1) fully on‑site, (2) hybrid, or (3) fully remote. Hybrid roles generally require office presence a certain number of days per week as indicated by your manager. Your hiring manager will discuss this role’s specific work requirements with you during the hiring process. All work requirements are subject to change at any time based on leader discretion and/or business need.

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.

• 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

We value a blend of experience, technical skill, and commitment to community impact.

• 7+ years of relevant experience or equivalent combination of education and experience
• High school Diploma or GED equivalent

• 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…