What are the responsibilities and job description for the Director of Underwriting (Commercial Real Estate) position at Turn2Partners?
We are currently working with a well-known financial services firm in the DMV area that is looking to add a Director of Underwriting to their growing real estate finance team. The ideal candidate will have 7 years of experience in either the financial services or real estate investment industry, with a strong background in commercial real estate underwriting, portfolio management, and credit risk management.
If you or anyone in your network is interested in learning more, please don’t hesitate to reach out.
Job Overview:
The Director of Underwriting, Real Estate Finance, is responsible for managing and executing all new loan opportunities in a high-volume lending environment. This role involves screening, underwriting, and structuring new loan deals, creating credit memos, overseeing the loan closing process, and collaborating with asset management for post-closing portfolio management.
Key Responsibilities:
- Support the entire origination process from initial stages to loan closing
- Assess financing requests to evaluate the credit quality of potential opportunities and determine appropriate loan structures
- Perform thorough due diligence and underwriting on new loan opportunities, ensuring compliance with the Bank's credit policies and guidelines
- Accurately capture business terms and loan structures in documentation, including participation agreements, loan agreements, and other related legal documents
- Address varying loan structures and inter-creditor issues across different commercial real estate product types
- Identify key transaction merits, risks, and risk mitigation strategies
- Ensure timely and accurate updates of loan documentation and credit files in compliance with internal procedures and banking regulations
- Oversee loan closings, ensuring that all legal documentation, third-party due diligence, and internal processing requirements are fulfilled in accordance with credit policies
- Collaborate with prospective borrowers to gather necessary information and diligence materials while maintaining strong working relationships with key contacts
- Maintain and manage detailed financial models, performing sensitivity analyses as needed
- Conduct market, industry, and sponsor due diligence
- Work closely with Portfolio Management on issues such as modifications, extensions, risk ratings, and other asset management concerns
- Supervise and monitor the work of assigned team members, ensuring tasks are completed efficiently
- Manage the recruitment, selection, onboarding, and training of new employees
- Oversee employee performance by providing development, coaching, and counseling
Required Qualifications:
- Bachelor's degree required
- A minimum of 7 years of experience in underwriting and managing credit risk within Commercial Real Estate and/or Lending
- Highly motivated and able to thrive in a small-team, fast-paced environment
- Proficient in Excel, Argus, CoStar, and REIS
- Strong verbal and written communication skills
- Excellent organizational, problem-solving, and time management abilities
Salary : $150,000 - $175,000
