Lead Commercial Real Estate Underwriter

Wells Fargo•New York, NY

3d•$167,000 - $260,000•Onsite

About The Position

Corporate & Investment Bank (CIB) delivers a comprehensive suite of banking, capital markets and advisory solutions, including a full complement of sales, trading and research capabilities, to corporate, government and institutional clients. We focus on our clients' overall financial needs, with consideration and respect for their total relationship with Wells Fargo. Commercial Real Estate (CRE) provides a fully integrated platform of banking, financing, and capital markets solutions to commercial real estate clients including financial sponsors, institutional investors and asset managers, regional developers, and public and private corporations. About this role: Wells Fargo is seeking a Lead Commercial Real Estate Underwriter to conduct underwriting and due diligence on Commercial Real Estate loans for Commercial Mortgage-Backed Securities (CMBS) loans. Learn more about our career areas and lines of business at wellsfargojobs.com In this role, you will: Underwrite complex CMBS loans primarily from ~$5MM to $150MM. Complete underwriting and financial models for transactions Conduct due diligence on property cash flow and operating expenses Review tenant leases and estoppels Read and review third party reports, including environmental, engineering, and appraisals Field questions from Rating Agencies and investors related to the underwriting of the transaction. Review borrower organizational charts and documents Complete Site Inspections Identify risks and mitigates associated with transactions. Identify any required CMBS underwriting disclosures during the transaction. Prepare internal risk ratings for the bank. Prepare and present credit approval memos Manage and train junior team members Work alongside senior leadership to enhance efficiency in the platform and influence objectives, plans, specifications, resources, and long-term goals for business and technical needs across Commercial Real Estate Underwriting Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation, and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.

Requirements

5+ years of Commercial Real Estate Underwriting experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Nice To Haves

Experience with Commercial Mortgage-Backed Securities (CMBS), balance sheet, or debt fund lending
Extensive knowledge and understanding of bank and Commercial Mortgage-Backed Securities lending programs and credit policies
Experience with non-recourse, cash flow-based lending structures
Superior project management skills including the ability to handle multiple projects concurrently
Strategic planning experience in translating leadership vision into executable strategies and initiatives
Excellent communication skills and ability to articulate complex material to a diverse audience
Advanced Microsoft Excel skills
Advanced Microsoft Office skills
Ability to make timely and independent judgment decisions while working in a fast-paced and results-driven environment
Ability to prepare management level presentations
Ability to travel as needed
Willingness to work on-site in accordance with current office requirements
Ability to work additional hours as needed

Responsibilities

Underwrite complex CMBS loans primarily from ~$5MM to $150MM.
Complete underwriting and financial models for transactions
Conduct due diligence on property cash flow and operating expenses
Review tenant leases and estoppels
Read and review third party reports, including environmental, engineering, and appraisals
Field questions from Rating Agencies and investors related to the underwriting of the transaction.
Review borrower organizational charts and documents
Complete Site Inspections
Identify risks and mitigates associated with transactions.
Identify any required CMBS underwriting disclosures during the transaction.
Prepare internal risk ratings for the bank.
Prepare and present credit approval memos
Manage and train junior team members
Work alongside senior leadership to enhance efficiency in the platform and influence objectives, plans, specifications, resources, and long-term goals for business and technical needs across Commercial Real Estate Underwriting