The Underwriting Associate on the Community Development Banking (CDB) Flex Cap/Intermediaries Lending team will support the implementation of the Flexible Capital initiative, a key component of Advancing Cities.
The underwriter will have multiple responsibilities, which include preparation and presentation of credit approval packages, account management, and portfolio management. The Underwriting Associate will support one banker in various tasks to prepare credit approval memos, manage portfolio accounts and manage on-going client relationships. In preparation of credit approval packages, an underwriter reviews a CDFI's audited financial statements and portfolio quality to assess its current strength and provides a summary of the organization's current management, lending strategy and overall outlook. To aid in this, the Underwriting Associate will work closely with the Flex Cap Banker, and will be expected to engage directly with CDFI project-level and executive staff. The Underwriter will be challenged to identify the key credit risks and communicate them in a clear and succinct summary memo. The Underwriter's responsibilities will also include participation in the closing/documentation process on new loans, on-going valuation of loans within the portfolio and regulatory compliance.
There are also frequently opportunities for the Underwriting Associate to work across business lines, including working with the CDB Intermediaries Lending team to provide credit to top-tier CDFIs, our Community Development Real Estate team to finance affordable housing and New Markets Tax Credits.
- Credit/Lending Experience: Minimum of three years in a commercial real estate credit or lending function with experience structuring complex transactions; Knowledge of CDFIs and experience with their different programmatic lending areas (charter schools, health centers, grocery) is a plus.
- Knowledge/Education: BA/BS or Masters, with concentration in urban policy or management and/or accounting/finance/economics. Other plusses are successful completion of credit training, understanding of commercial real estate, and knowledge of Community Development financing tools including NMTCs and LIHTCs.
- Skills: excellent teamwork and customer service; consistently delivering on commitments to colleagues and internal and external customers; strong analytical and project management skills with the ability to multi-task; communications skills, both written and oral; computer skills, particularly Excel and Word; ability to handle problems, be it for internal or external customers, and persist until problem is resolved; attention to detail.
To see the full job description and to apply:
Chicago:
Commercial Bank - Credit Risk - Associate - Chicago, IL | JPMorgan Chase & Co.
New York:
Commercial Bank - Credit Risk - Associate - New York, NY | JPMorgan Chase & Co.------------------------------
Michelle Holleran
Vice President
JPMorgan Chase
New York NY
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