Senior Commercial Real Estate Underwriting Associate Not right for you? We've got others

Salary:
$80,000 - $105,000
Location:
Chicago, Illinois
Posted:
September 14th 2021
Minimum Degree:
Bachelor
Relocation Assistance:
Available
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CRITICAL DUTIES, TASKS AND ACCOUNTABILITIES

Senior Commercial Real Estate Underwriting Associate

An instrumental member of the transaction execution, and credit/portfolio administration team accountable for delivering finance solutions to sophisticated Commercial Real Estate borrowers.

  1. Analyzing property cash flow statements, business operating statements, business tax returns and financial statements. Must have a complete understanding of cash flow reports, financial ratios, trends, etc. Analyst must be able to identify recurring and non-recurring sources of cash flow, the property’s ability to cover debt service and ability of client/guarantor to support the property.
  2. Knowledge of IRS Code Section 42 and 47, equity structures and documentation, market research (including onsite inspections and market comp analysis), and 3rd party or external guidelines
  3. Underwrite real estate credits and prepare credit memos for new loans as well as for renewals, modifications and short-term extensions. This includes financial and risk analysis, purpose of loan, repayment sources, collateral, financial & reporting covenants, tenant analysis, and sponsor and project team summary.
  4. Must be able to understand and review real estate documents (leases, loan documents, appraisals, etc.) to identify any potential issues and concerns.
  5. Responsible for independently underwriting all credit requests for new applicants and existing obligors.
  6. Prepare loan presentations in conjunction with the Loan Officers ensuring all details of the credit proposal are complete and accurate, provide assessment and adequacy of deal structure and creditworthiness and participate in presentation and/or present loans to the approving authority.
  7. Monitor borrower compliance with approved terms, portfolio management, and assist in the administration of credit relationships.
  8. Provide post-funding analytical and monitoring support of credit relationships and portfolio maintenance including completion of annual reviews.
  9. Works independently with little or no oversight. Exercises some exception and elevated approval authority. Prepares loan offerings for all types of transactions at any level of complexity or in management of a portfolio as assigned. Interacts with internal/external customers. Provides recommendations for credit structuring. Serves as subject matter expert for certain asset classes.


Senior Commercial Real Estate Underwriting Associate

Using independent judgment to identify risks and mitigants, prepares offerings such as risk ratings, by analyzing credit, collateral strength and financial worthiness of loan/transaction parties. If relevant, performs ongoing credit risk management for assigned portfolio. May coach and/or review the work of other underwriters and fill in for manager as required. Contacts internal/external customers and other parties as appropriate to gather information and to clarify inconsistent, incorrect or missing information. May perform relevant pre-approval and post-approval activities. Identifies and/or confirms all external regulatory requirements. Ensures internal policies/procedures are followed.
Makes recommendations on credit decisions or makes credit decisions directly, as appropriate.

Requirements:

REQUIRED QUALIFICATIONS, SKILLS & CAPACITIES

Senior Commercial Real Estate Underwriting Associate

  1. Bachelor degree in Economics, Business Administration, Accounting, Finance, Business Analytics, or related disciplines.
  2. Adequate work experience required.
  3. Strongly preferred experience in one bot not all of the following areas:
    • Big 4 or upper tier accounting /consulting firm transaction advisory services, valuations or audit/assurance.
    • Commercial lending credit training and experience in corporate loan underwriting and portfolio management.
    • Other applicable deal transaction experience.
  4. Intellectually motivated by an entrepreneurial and deal driven environment.
  5. Robust financial analysis, research and business due diligence skills.
  6. Outstanding interpersonal skills.
  7. Working experience of finance & accounting, corporate finance concepts and methodologies.
  8. Self-motivated with a history of meeting and preferably exceeding goals.
  9. Robust analytical and written communication skills.
  10. Deeply skillful with financial modeling.
  11. Experience with and ability to use tools and techniques for collecting, collating and analyzing information on existing or potential markets in order to meet market needs.
  12. Expertise with the processes, techniques and requirements for official decision-making; ability to reach an agreement on and close transactions for real properties.
  13. Knowledge of and ability to utilize tools, techniques and practices for determining the credit-worthiness of an applicant.
  14. Expertise in the full spectrum of underwriting activities, practices, tools and considerations, and the capacity to utilize these to manage the underwriting process.
  15. Knowledge of real estate development; ability to manage different aspects of the real estate development function, including business development, methods of real estate, and operational processes.
  16. Knowledge of and ability to support an organization in adhering to applicable federal, state, local, and company-specific regulations, policies, and guidelines affecting business practices.
  17. Familiarity with specializations, tools, practices and regulations within the real estate industry; ability to operate a real estate enterprise to achieve business success.
  18. Must possess an ability to utilize diverse data analysis processes, techniques and tools in order to analyze, interpret and manage property related data.

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