Duties: Review and comment on underwriting models, metrics charts, and pricing requests for new commercial real estate loan origination and deals. Review committee memos drafted by analysts and associates. Lead preliminary and final committee presentations and Q&A sessions as the main underwriter on deals. Engage vendors and authorize document release on behalf of the company. Help guide and oversee team members in their day-to-day assignments. Engage with the Capital Markets team, Trading Desk, Transaction Managers, Credit, Commercial Real Estate Loan Solutions, and upper management on client requests, new commercial real estate loan opportunities, rating agency and B-Buyer feedback, conduit and SASB commercial mortgage- backed securities (CMBS) deal pricing and appetite, and bespoke deal solutions. Communicate with clients on loan proposals, credit committee decisions, and overall loan agreement negotiations. Pursue deals and clients in an originator capacity and work to individually close deals or bring in more business. Review loan agreements and issues lists. Lead recurring closing calls on live deals and overall deal closing. Set up and run individual client meetings at offsites and conferences. Coordinate year-end presentations and analyses put together by analysts and associates. Conduct Superday interviews for recruitment and interview potential new candidates for analyst and associate roles. Lead the internship program including placement of intern pool into individual desks, planning assignments, coordinating final presentations and gathering feedback, and communicating hiring decisions. This position requires up to 10% domestic travel to client sites.
QUALIFICATIONS:
Minimum education and experience required: Bachelor's degree in Applied Mathematics, Economics, Finance, or related field of study plus five (5) years of experience in the job offered or as Trader, Commercial Mortgage-Backed Securities Analyst/Trader, Sales/Trading Associate, or related occupation.
Skills Required: This position requires five (5) years of experience with the following skills: discounted cash flow models; interest rates and amortization schedules; bond mathematics; time value of money, net present value, and CMBS bond pricing, structure, and ratings; CMBS profitability, stress loss, horizontal risk retention, vertical risk retention, mezzanine loans and CMBS capital structure; IRR; loan metrics including debt yield, LTV, DSCR, look-through LTV, and cap rate; Bloomberg terminal for company ratings, company financials, charting, interest rates, and swaps; analyzing and generating CoStar submarket and market reports; interpreting CoStar property- and market-level data; using Excel for cash flow modeling, including lookup and index formulas, graphs and tables, shortcuts, and sorting and manipulating large data sets; interpreting Greenstreet mall sales data; real capital analytics; real estate analytics; credit risk analytics; REIS; Fitch, Moody's, S&P, KBRA, and DBRS analysis and underwriting of offices, retail properties, multifamily properties, hotels, industrial properties, manufacturing properties, and storage properties; credit analysis of bridge and construction loans; analyzing and interpreting financial, credit, and operational information including company financial metrics, credit reports, and operating performance data; analyzing and interpreting real estate due diligence materials including appraisals, environmental assessments, property condition reports, surveys, zoning reports, and lease information; analyzing and interpreting legal and transaction documentation including litigation disclosures, public records, loan agreements, and tax abatements; and analyzing and interpreting construction and capital planning information including construction budgets, capital expenditure budgets, and project draw information.
Job Location: 270 Park Avenue, New York, NY 10017. This position requires up to 10% domestic travel to client sites.
Full-Time. Salary: $260,000 - $285,000 per year.
About UsWe offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
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. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans
Skills Required
- Bachelor's degree in Applied Mathematics, Economics, Finance, or a related field
- Five years of experience as a Trader, Commercial Mortgage-Backed Securities Analyst or Trader, Sales or Trading Associate, or in a related occupation
- Five years of experience with discounted cash flow models, interest rates, amortization schedules, bond mathematics, time value of money, net present value, and CMBS bond pricing, structure, and ratings
- Experience with CMBS profitability, stress loss, horizontal and vertical risk retention, mezzanine loans, and CMBS capital structures
- Experience calculating and analyzing loan metrics, including debt yield, LTV, DSCR, look-through LTV, cap rate, and IRR
- Experience using Bloomberg Terminal, CoStar, Excel, Green Street mall sales data, Real Capital Analytics, and REIS
- Experience analyzing ratings and underwriting from Fitch, Moody's, S&P, KBRA, and DBRS
- Experience underwriting offices, retail, multifamily, hotel, industrial, manufacturing, and storage properties
- Experience analyzing bridge and construction loans, financial and credit information, real estate due diligence, legal and transaction documents, construction budgets, capital expenditures, and project draws
JPMorganChase Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about JPMorganChase and has not been reviewed or approved by JPMorganChase.
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Healthcare Strength — Health coverage is considered comprehensive, including medical, dental, and vision, alongside wellness and mental health resources. Some locations add onsite health centers and related wellbeing support.
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Retirement Support — Retirement offerings include a 401(k)-type savings plan and related financial benefits, with options such as employee stock purchase participation. Financial planning resources are also highlighted to support long-term savings.
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Parental & Family Support — Paid parental leave of 16 weeks for birth or adoption is available for all parents. Child care and back-up child care resources further reinforce family support.
JPMorganChase Insights
What We Do
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.7 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Technology fuels every aspect of our company and is at the heart of everything we do. With over 50,000 technologists globally and an annual tech spend of $12 billion, we are dedicated to improving the design, analytics, development, coding, testing and application programming that goes into creating high quality software and new products. Learn more about technology at our firm, explore resources from our Distinguished Engineers, AI & ML researchers, and other experts; access the latest episode of our TechTrends podcast, and more at www.jpmorgan.com/technology. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com. ©2023 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase is an Equal Opportunity Employer, including Disability/Veterans.
Why Work With Us
Our technologists work on a diverse range of solutions that include strategic technology initiatives, big data, mobile, electronic payments, machine learning, cybersecurity, enterprise cloud development, and other state-of-the-art technologies.
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