Director, Commercial Real Estate Loan Underwriting

About the role

SitusAMC is seeking a Director for a multi-billion-dollar financial services institution (the “Bank”). The role involves supporting the origination, underwriting, closing, and execution of commercial real estate loans for the Bank’s CMBS and balance sheet programs.

Responsibilities

• Serve as the primary underwriting lead with end-to-end ownership of transactions, ensuring timely execution, sound credit outcomes, and alignment across all stakeholders
• Underwrite and close commercial real estate loans for multiple borrowers and different asset types
• Participate in initial loan sizing, collaborating with origination and capital markets
• Lead preparation and defense of credit memos, clearly articulating key risks, mitigants, and structuring rationale for committee, including cash flow analysis, risks and strengths, borrower / sponsor review, and market analyses
• Act as the central point of coordination across internal teams and external counterparties, proactively resolving issues and maintaining deal momentum
• Conduct property-level diligence and market analysis with an emphasis on forming independent, defensible views rather than relying solely on third-party inputs
• Create and/or review existing Argus cash flow models; edit assumptions based on actual market data collections and financial review information
• Ability to review third party reports (appraisal, engineering, environmental, etc.), and identify key issues that warrant further investigation and/or revision
• Collaborate with appraisal review group to discuss specific appraisal methodology and ensure that the assumptions used in the appraisal are well-supported and are consistent with the actual terms at the Property and/or market
• Assess borrower’s credit worthiness by reviewing financial statements, credit reports, and media searches
• Independently identify credit arisks and confidently propose actionable solutions, including structural and other credit enhancement features to adequately address risks
• Lead presentations and discussions with syndication partners, investors and rating agencies regarding any concerns related to loan structure, sponsorship, legal, property, market, and underwriting

Requirements

• Candidate is required to have a BA/BS, ideally in commercial real estate finance, finance or similar
• At least 7 years’ experience underwriting commercial real estate loans at a bank, insurance company, debt fund, investment management company or similar; specific focus on CMBS is ideal
• Demonstrated experience independently leading CRE loan transactions from origination through closing (not solely supporting roles)
• Proven ability to exercise independent credit judgment and make recommendations in situations with incomplete or evolving information
• Experience structuring CRE loans, including familiarity with risk mitigation tools (e.g. – reserves, covenants, cash management, other credit enhancements, etc.)
• Strong work ethic with a solutions-driven approach to working through issues or challenges
• Excellent communication, organizational and interpersonal skills
• Desire to work among a diverse team and be a supportive and collaborative colleague
• Ability to multi-task and work effectively under tight deadlines
• Strong organizational and execution skills, with the ability to manage multiple tasks and transactions concurrently while maintaining deadlines and attention to detail
• Strong attention to detail, analytical and accuracy skills

Qualifications

• BA/BS in commercial real estate finance, finance or similar
• 7+ years of experience underwriting commercial real estate loans at a bank, insurance company, debt fund, investment management company or similar; specific focus on CMBS is ideal
• Proven experience independently leading CRE loan transactions from origination through closing
• Strong independent credit judgment and ability to make recommendations in situations with incomplete or evolving information
• Experience structuring CRE loans, including familiarity with risk mitigation tools
• Strong work ethic with a solutions-driven approach to working through issues or challenges
• Excellent communication, organizational and interpersonal skills
• Ability to multi-task and work effectively under tight deadlines
• Strong attention to detail, analytical and accuracy skills

Benefits

The annual full time base salary range for this role is $200,000.00 - $225,000.00. Specific compensation is determined through interviews and a review of relevant education, experience, training, skills, geographic location and alignment with market data. Additionally, certain positions may be eligible to receive a discretionary bonus as determined by bonus program guidelines, position eligibility and SitusAMC Senior Management approval. SitusAMC offers PTO and paid holidays, the terms of which are set forth in the program policies. All full time employees also are eligible to participate in various benefit plans, including medical, dental, vision, life, disability insurance and 401K; in each case in accordance with the terms of the applicable plans.

Pay Transparency Nondiscrimination Provision

SitusAMC is an Equal Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.