Commercial Bank Risk – Multifamily GSE Conventional Underwriting, Associate - New York - job 635610

JPMorgan Chase & Co.

Date: 02/23/2021

City: New York, New York

Employment type: Full-time

Employer Description


JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.


We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs.


Commercial Banking is focused on helping our clients succeed and making a positive difference in our communities. We provide credit and financing, treasury and payment services, international banking and real estate services to clients including corporations, municipalities, institutions, real estate investors and owners, and nonprofit organizations.


Our Firmwide Risk function is focused on cultivating a stronger, unified culture that embraces a sense of personal accountability for developing the highest corporate standards in governance and controls across the firm. Business priorities are built around the need to strengthen and guard the firm from the many risks we face, financial rigor, risk discipline, fostering a transparent culture and doing the right thing in every situation. We are equally focused on nurturing talent, respecting the diverse experiences that our team of Risk professionals bring and embracing an inclusive environment.


Commercial Term Lending (Multifamily) provides commercial real estate owners and investors with term loans ranging from $500M to $25MM+. As the nation's #1 multifamily lender, we offer clients full- service real estate financing products and services that are unparalleled in the market.


The Conventional Associate Underwriter will perform necessary credit analysis, due diligence, and review of documents for new Fannie Mae DUS and Freddie Mac real estate transactions. The position requires solid multifamily credit knowledge, financial analytic and property valuation experience, coupled with strong knowledge of GSE lending guidelines, policies and practices.


Knowledge Requirements:


Understanding of multi-family real estate property valuation techniques including discounted cash flow analysis.


Market research tools for commercial real estate.


Strong financial analysis skills including analysis of property operating statements for variety of property types, and personal financial statements of individual sponsors.


Computer proficiency skills in Excel (financial modeling), Microsoft Word, PowerPoint.


Standards, practices, methodologies, and regulatory requirements relative to the finance/accounting disciplines.


Standards relating to the appropriate documentation of work activities.


Knowledge of the GSE organization structures, specific regulations, policies, and procedures.


Qualifications:


Establish and maintain effective relations with internal business partners including sales, processing, closing and legal as well as GSE counterparts.


Identify issues in a timely manner, formulate and propose effective solutions.


Understand and interpret financial/performance data.


Become conversant with the policies, standards, procedures, and regulations applicable to the assigned work unit in a timely manner.


Concisely express ideas and convey technical information in written, oral, and electronic communication.


Thorough understanding of risk impact and consequence of errors in formulating decisions.


Interpret results and formulate effective recommendations.


Bachelor's degree in accounting, finance, economics or real estate


Minimum requirements of 5-7 years' experience in GSE lending and credit risk, underwriting and or loan workouts.


Experience in conducting financial/credit analysis of personal financial statements and schedules of real estate preferred


Passion for commercial real estate


Ability to thrive in a fast-paced, collaborative work environment while maintaining a high level of attention to detail


Excellent communication and interpersonal skills


Ability to concisely express ideas and propose effective solutions





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