CRE UW Director NYC

Company Background/Culture

Our client is seeking to fill multiple Commercial Real Estate Underwriter positions across multiple locations. Positions include Leadership, Management, and Individual Contributor roles.

Due to an organizational shift and a better emphasis to serve their clients, our client is distributing their underwriting workforce across the country to better serve their clients nationally.

This change is generating a unique opportunity for highly skilled CRE underwriters to join a leading edge, world class, tech-enabled commercial bank.

Their Commercial real estate solutions built for the top tier real estate investment firms globally.

From multifamily to office to industrial, our client’s team of industry-leading experts bring a wealth of knowledge with an innovative approach, backed by the extensive financing capabilities of a top 10 U.S. commercial bank.

Job Description  

The Underwriting and Portfolio Management organization is responsible for working with internal partners to underwrite new transactions and manage the existing portfolio of loans. Our Underwriters and Portfolio Managers balance supporting the Commercial’s Bank’s growth and ensuring we have a scalable, well-managed business.

This role supports the Commercial Real Estate sector.

Responsibilities

As a Lead Underwriter & Portfolio Manager, you are considered a deep subject matter expert in commercial real estate credit risk management.

In addition to performing your responsibilities autonomously, you may play a leadership role across deal teams by guiding or shaping less experienced associates.

You are trusted to complete complex transactions or solve more unique problems because of your experience and job specific skills.

Primary underwriting responsibilities may include:

• Lead and compile due diligence to draw conclusions on material current and future risks and mitigants; identify performance drivers, project future performance, and anticipate ability to repay debt; apply industry research across transactions and share key takeaways across the organization
• Oversee deal team(s), including delegating and reviewing work, providing feedback, and coaching and developing less experienced member of the team
• Leverage deep expertise in industry trends and market analysis to present findings and potential opportunities to senior management with ease
• Anticipate questions that will be raised during deal review and approval meetings
• Assist and develop procedures to ensure less experienced team members understand financial statement analysis and cash flow analysis
• Review financial models independently and incorporate complex structures or nuances 
• Propose appropriate structuring options in tandem with deal team
• Interpret pricing model outputs in context of business return hurdles and consider areas for increasing returns
• Write and prepare all parts of the credit approval document independently; identify need for supplemental analysis and discussion; review work of less experienced members of the team
• Oversee closing process requirements; review closing memo
• Lead documentation process and negotiate provisions of term sheets, commitment letters, and fee letters with internal and external counsel as well as clients
• Independently lead all aspects of process for complex deals, including special circumstances, higher approval requirements, and setting overall expectations

Basic Qualifications:

• Bachelor’s Degree or Military Experience
• At least 5 years in credit underwriting at a bank, debt fund or fintech
• At least 2 years managing people, either in a formal reporting structure or leading deal teams
• Proven ability to deliver fast, high quality product
• Strong customer-facing acumen to actively and effectively participate in client meetings and negotiations
• Deep market knowledge of [specified geographic coverage area]; possess a broad understanding of CRE fundamentals in that area, including CRE trends, market metrics, as well as Sponsor preferences
• Strong knowledge across all property types of commercial real estate and financing structures including, but not limited to, term, construction and bridge loan facilities
• Mindset of being well managed and well governed (i.e., designing thoughtful processes and controls)

Preferred Qualifications:

• Bachelor's Degree in Accounting, Finance, or other relevant fields
• Strong knowledge of legal matters pertaining to commercial real estate
• Experience with structured products (such as master repo agreements and note on note)
• Proficient in MS Office or Google Suite
• Proficient in cash flow modelling using Argus