Underwriter Commercial Rep Lead - El Segundo, CA

Kinecta Federal Credit Union•Manhattan Beach, CA

3d•$94,000 - $117,000•Onsite

About The Position

This position evaluates cash flow and other characteristics of real estate, the credit worthiness and management capabilities of the guarantor, and adequacy of the loan structure. The evaluation process encompasses analyzing collateral property, the financial strength and experience of the borrower/guarantor, surrounding market, and demographic area. In addition to the duties above, the lead is considered a deep subject matter expert in credit risk management balanced with industry and market expertise. In addition to performing responsibilities autonomously, the lead may play a leadership role in the Underwriting Manager’s absence. In addition, the role may guide and shape less experienced associates. The Lead is trusted to complete more complex transactions or solve more unique problems. The role is responsible for all related aspects of underwriting of a proposed loan after term sheet through closing. Post-closing, the Underwriter will assist the Relationship Manager and Portfolio Manager with follow-up matters as needed, including but not limited to review of post-closing conditions, review, and release of holdbacks, earnouts, and reserve requirements. The role will analyze property operations including all historical revenues, expense, rent rolls, leases, estoppels and SNDAs, guarantor’s financial statements including personal and corporate income statements, balance sheets, SREOs, and tax returns, and prepare projections for the ongoing economic viability of the property and the loan.

Requirements

Proficiency in CRE knowledge
Proficiency in tax return analysis
Proficiency in Microsoft Excel, Microsoft Word, and market research services.
Excellent presentation, listening, reading comprehension, and written communication skills.
Ability to draw insightful conclusion from complex information.
Ability to manage competing priorities and focus on desired outcomes.
Ability to produce outcomes with minimal direction and to find necessary resources.
Ability to manage large amounts of complex information easily, communicate it clearly, and draw sound conclusions.
Bachelor’s Degree or higher in a business-related field, preferably finance or real estate.
Five years plus of experience in commercial real estate fields, especially lending relation, or market research.
One year of relevant professional-level work experience may be substituted for one year of required education.

Responsibilities

Participate or lead interviews on new candidates.
Lead and mentor all underwriting staff.
Participate in training of underwriting staff.
Participate in Greenlight reviews.
Review Credit Presentations (CP) in manager’s absence.
Be underwriting department’s spoke person in manager’s absence.
Lead process improvement efforts (e.g., design procedures for earnout/holdback releases).
Participate in selection and setting up of new departmental tools (e.g., new Loan Origination System, new forms, etc.,)
Analyze property and guarantor cash flow in Excel and CASH Suite models
Review loan-related documents such as estoppels, Subordination Non-Disturbance Agreements (SNDA), tenant leases, ground leases, borrower entity structures, and loan documents for correct terms.
Assess and modify (as needed) borrower, guarantor, and loan structure.
Review third-party reports such as appraisals, environmental reports, and property condition assessments.
Correctly identify strengths, risks and mitigants, and assess credit worthiness and capabilities of borrowers, guarantors and for certain properties, tenants.
Create loan structure including holdbacks, earnouts, and reserves as needed.
Prepare detailed presentations for loan committee consideration.
Present to loan committee as needed.
Perform site visits as needed.
Interface with borrowers, appraisers, property managers, loan administration staff and brokerage community.
Be familiar with and abide by all Kinecta underwriting policies and procedures related to CRE (Commercial Real Estate) lending practices.
Performs other duties including special projects as assigned.