As part of the GIIN’s mission to accelerate the scale and effectiveness of impact investing, we publish job openings from members of the GIIN Investors’ Council and other impact investing leaders.

Underwriting Associate Intermediaries Lending

at JPMorgan Chase in Chicago

About the Job

Our Firmwide Risk function is focused on cultivating a stronger, unified culture that embraces a sense of personal accountability for developing the highest corporate standards in governance and controls across the firm. Business priorities are built around the need to strengthen and guard the firm from the many risks we face, financial rigor, risk discipline, fostering a transparent culture and doing the right thing in every situation. We are equally focused on nurturing talent, respecting the diverse experiences that our team of Risk professionals bring and embracing an inclusive environment.

The Underwriting Associate on the Community Development Banking (CDB) Intermediaries Lending (IL) team plays an integral role in the bank’s Community Reinvestment Act (CRA) mission and of providing credit to the strongest Community Development Finance Institutions (CDFIs) in the country. The CDB IL business primarily involves the provision of credit to CDFIs, who then aggregate our capital with other sources and on-lend them to developers of affordable housing; charter schools; health centers and other community facilities. The underwriter will have multiple responsibilities, which include preparation and presentation of credit approval packages, account management, and portfolio management. The Underwriting Associate will support two IL Bankers in various tasks to prepare credit approval memos, manage portfolio accounts and manage our on-going client relationships.

In preparation of credit approval packages, an underwriter reviews a CDFI’s audited financial statements and portfolio quality to assess its current strength and provides a summary of the organization’s current management, lending strategy and overall outlook. To aid in this, the Underwriting Associate will work closely with the IL Bankers, and will be expected to engage directly with CDFI project-level and executive staff. The Underwriter will be challenged to identify the key credit risks and communicate them in a clear and succinct summary memo. The Underwriter’s responsibilities will also include assignment of risk ratings; on-going regulatory compliance; and participation in the closing/documentation process on new loans.

There are also frequently opportunities for the Underwriting Associate to work across business lines, including working with our philanthropy team in Corporate Responsibility, affordable housing underwriting and New Markets Tax Credits. Examples of previous cross-line collaboration include playing a lead role in developing the Chase Detroit Initiative and, based on its success, the replication and expansion of the program through the Advancing Cities initiative.


Credit/Lending Experience: Minimum of three years in a commercial real estate credit or lending function with experience structuring complex transactions; Knowledge of CDFIs and experience with their different programmatic lending areas (charter schools, health centers, grocery) is a plus.
•Knowledge/Education: BA/BS or Masters, with concentration in urban policy or management and/or accounting/finance/economics. Other plusses are successful completion of credit training, understanding of commercial real estate, and knowledge of Community Development financing tools including NMTCs and LIHTCs.
•Skills: excellent teamwork and customer service; consistently delivering on commitments to colleagues and internal and external customers; strong analytical and project management skills with the ability to multi-task; communications skills, both written and oral; computer skills, particularly Excel and Word; ability to handle problems, be it for internal or external customers, and persist until problem is resolved; attention to detail.

To apply


JPMorgan Chase

JPMorgan Chase strives to be a catalyst for meaningful, positive and sustainable change in communities across the globe. JPMorgan Chase annually invests more than $250 million to create pathways to opportunity so that individuals have access to the knowledge, skills, resources, and capital they need to secure their futures and compete in the global economy. Our programs seek to address key drivers of economic inequality experienced by vulnerable populations around the globe through four key focus areas: Community Development, Jobs and Skills, Financial Capability, and Small Business. Please visit JPMorgan Chase & Co. Corporate Responsibility for more information.