Private Credit – Affordable Housing
Deutsche Bank is seeking to hire an Analyst or Associate for their Affordable Housing team within the US Public Finance & Solutions business. The role involves supporting the origination, underwriting, structuring, and execution of debt investments secured by affordable housing real estate, requiring strong analytical skills and the ability to manage transactions independently.
Responsibilities
- Work with a market-leading team to analyze, structure, document, and execute debt financings secured by affordable housing assets
- Underwrite senior mortgage loans, subordinated debt, and structured positions, including detailed analysis of property-level cash flows, capital structure, debt service coverage, and structural protections
- Build and maintain financial models to evaluate transaction economics, credit risk, and downside scenarios
- Draft investment and credit committee memoranda detailing transaction structure, key risks, mitigants, and underwriting conclusions
- Project-manage loan transactions from initial screening through closing, coordinating internal approvals and third-party diligence providers (appraisals, engineering reports, environmental reviews, insurance zoning, market studies, etc.) and engaging directly with borrowers, developers, sponsors, counsel, and other counterparties
- Conduct desk research and site visits independently across the United States, support post-closing portfolio monitoring and ongoing asset management activities, and assist with the development and mentorship of analysts, interns, and other junior team members
Skills
- Ability to take ownership for transactions and manage workload with minimal supervision, and demonstrated ability to manage responsibilities across multiple transactions and workflows
- Proficiency in mortgage credit analysis and evaluation of borrower and guarantor structures
- Product knowledge of affordable housing and related real asset financing structures, including LIHTC where applicable
- Proven years of experience in underwriting, credit analysis, or investment roles, with an emphasis on affordable housing, real estate, or infrastructure-related transactions
- Excellent critical thinking and decision-making skills, excellent verbal and written communication skills, and strong attention to detail and organizational skills
Benefits
- Health and wellbeing programs
- Retirement savings plans
- Parental leave
- Family‑building benefits
- Educational resources
- Matching gift programs
- Opportunities to engage in community and volunteer initiatives
Company Overview