Construction & Commercial Real Estate Analyst
New York, NY
At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You'll always feel empowered and valued here.
Incredible teams doing exceptional work, every day
In Relationship Management Team Support, we document, process and underwrite both residential and commercial loans. We provide exceptional client service to internal and external partners. We support our Relationship Managers in all aspects of the loan process to ensure that we are delivering a seamless lending experience to our clients.
Common goals, uncommon potential
The Analyst has the opportunity to assist the construction and commercial lending team in evaluating, underwriting, monitoring and maintaining new and existing loans including 1-4 family properties, multifamily properties, mixed-use properties and construction projects. This involves reviewing applications, underwriting recurring income and post loan liquidity, obtaining due diligence, preparing credit narratives and following up during the credit approval process, closing transactions and post-closing follow-up.
What you'll do as a Construction & Commercial Real Estate Analyst:
- Evaluate prospective real estate opportunities by analyzing construction budgets for hard and soft costs, property cash flows (current and future), rent rolls, locations, property types (residential, multifamily, retail, office), requested loan terms and all other information available.
- Spread and analyze current and proposed property operating statements and/or tax returns and have a complete understanding of cash flow reports, financial ratios, trends, etc.
- Spread personal financial statements and tax returns and be proficient in K-1 and cash flow analysis. Analyst must be able to identify recurring and non- recurring sources of cash flow, global cash flow from real estate, the subject property's ability to cover debt service and ability of client/guarantor to support the property.
- Underwrite real estate credit narratives for new loans as well as for renewals, modifications and short-term extensions. This includes financial and risk analysis, purpose of loan, repayment sources, collateral, financial & reporting covenants, tenant analysis, and sponsor and project team summary.
- Run credit reports on companies and individuals to assist in the analysis process. Conduct research on specific industries/companies and due diligence on sponsors and guarantors to assist team.
- Conduct site inspections on real estate property to ensure property is well-maintained and is operated in accordance with industry practice.
- Review documentation for consistency and accuracy of Credit Narratives. This requires working with the Borrower, Commercial Loan Operations, Closing Department and outside legal counsel.
- Create and maintain all loan and credit files. Must be able to take responsibility of the credit file used in approving each loan.
- Assist and work with clients on all levels of the relationship, including: loan advances and payments, collecting loan and legal fees, calling on delinquencies, assisting clients with various loan and deposit related inquiries, etc. Remedy or submit requests to the proper departments and follow up to ensure timely execution.
- Responsibilities include the following: 1) adhering to and complying with the applicable, federal and state laws, regulations and guidance, including those related to Anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.) 2) adhering to Bank policies and procedures, 3) completing required training, 4) identifying and reporting suspicious activity to the AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank.
What skills you will use:
- 5 plus years of experience in commercial real estate credit analysis.
- Must have experience with the following types of commercial real estate:Multi-Family,Office,Retail andIndustrial
- Business Banking experience a plus.
- An undergraduate degree with the following competencies:
- Business Finance and Accounting to ensure proficiency with interpretation of financial statements, financial trends and, global cash flow analysis.
- Proficient with all financial statements (Balance Sheet, Income Statement and Cash Flow Statement).
- Significant loan monitoring and loan grading expertise.
- Proficiency in legal terminology and documentation to ensure approved loan terms are correctly interpreted and captured for monitoring.
- Excellent oral and written communication skills as well as analytical, mathematical, and reasoning skills.
- Demonstrated ability to develop and maintain positive working relationships with contacts across lines of business / clients.
- Technical aptitude with AFS Level III, Word, Excel and Outlook; knowledge of Access is a plus.
Own your work and your career - apply now
Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career? If so, then come join us.
We want hard working team players. You'll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability - that's the First Republic way.
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