Posted on 2021-10-19

CIB - Securitized Products Group - Commercial Real Estate (CRE) Underwriter - Executive Director

JPMorgan Chase Bank, N.A.

Key Duties:

Reviewing, analysing, and researching (i) commercial real estate secured loan & bond transactions; and (ii) the acquisition of performing and financing of non-performing loan portfolios in the APAC region.

  • Originating new deals in the region in collaboration with JPM bankers and client coverage teams
  • Lead real estate underwriting in collaboration with team's property underwriters, including researching transaction comparables & macro market environment and summarising key findings
  • Overseeing of team juniors in production of real estate and loan model outputs, and the creation of detailed loan summaries and portfolio stratification analysis to assist in the loan/bond structuring. Taking full responsibility for quality of output & conclusions reached.
  • Liaising with loan & bond syndicate to assess market liquidity, pricing, and potential distribution strategies. Incorporating findings into the structuring and underwriting process.
  • Preparation of clear and concise deal proposals/memos for discussions in internal committees & with senior management
  • Production of clear indicative terms / quotes, in-line with internal processes and guidelines, to provide to clients in a timely manner
  • Working closely with clients, lawyers, and other key external and internal stakeholders to lead & manage the full transaction execution process.

Key examples include (amongst others):

  • Producing clear scope of work to provide to law firms in order to receive quotations for assisting various stages of loan/bond execution
  • Working closely with clients in order to negotiate & agree a term sheet covering all key indicative terms (with senior oversight/involvement)
  • Reviewing transaction legal and property due diligence, assessing key risks and suggesting potential mitigants (structural or otherwise) to protect JPM interests as lender
  • Deep involvement in the documentation process with internal and external legal counsel & key business stakeholders to ensure legal documents adhere to JPM policy and reflect a fair representation of the commercial terms agreed.
  • Managing all internal stakeholders to ensure required internal steps are completed & internal stakeholders have signed-off/approved
  • Coordinating the various key closing steps to enable a smooth transaction closing/funding

Key Experience

  • Broad experience in assessing & underwriting commercial property including deep knowledge of commercial real estate principles, associated valuation approaches, and key tenant / lease fundamentals - in order to properly & fully assess various asset risks/mitigants and appropriate cash flow prospects
  • Detailed past involvement in all aspects of the underwriting, structuring, and documentation of non-recourse commercial real estate mortgage financings in HK, China, and the APAC region - including the review & drafting of loan and bond term sheets
  • Previous deep involvement in the acquisition and/or financing of Non-Performing Loan (NPL) / REO portfolios secured on CRE assets - including a good understanding of the underwriting, analysis, and due diligence undertaken in deciding loan resolution strategies for non-performing CRE loans
  • Excellent project management experience - preference for evidence of involvement in the managing of large complex processes
  • Some experience in the analysis, structuring, and rating agency discussions involved in the structuring and documentation of CMBS issuances would be beneficial
  • 10+ years' experience from a US IB preferred

Key Skills

  • Extremely proficient in the handling and manipulation of data
  • Very good attention to detail and strong analytical skills
  • Strong financial modelling skills (Excel / VBA)
  • Good interpersonal skills to assist in the management and development of client relationships


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More job information
Job Function
Employment Term
  • Permanent
  • Full-time
  • 10 years - 15 years
Career Level
  • Senior management level
  • Degree