Lead Specialty Underwriter & Portfolio Manager - REIT

Employer
Capital One
Location
McLean, Virginia
Posted
Jun 28, 2022
Closes
Jul 01, 2022
Ref
R140998
Function
Finance
Hours
Full Time
Center 2 (19050), United States of America, McLean, Virginia

Lead Specialty Underwriter & Portfolio Manager - REIT

The Underwriting and Portfolio Management organization is responsible for working with internal partners to underwrite new transactions and manage the existing portfolio of loans. Our Underwriters and Portfolio Managers balance supporting the Commercial's Bank's growth and ensuring we have a scalable, well-managed business. Specifically, this is a Lead Underwriting role supporting Commercial Real Estate REIT unsecured and Agency Warehouse lines of business.

As a Lead Underwriter, you are considered a deep subject matter expert in credit risk management balanced with industry and market expertise. In addition to performing your responsibilities autonomously, you may play a leadership role across deal teams by guiding or shaping less experienced associates. You are trusted to complete complex transactions or solve more unique problems because of your experience and job specific skills.

Primary underwriting responsibilities may include:

  • Lead and compile due diligence to draw conclusions on material current and future risks and mitigants; identify performance drivers, project future performance, and anticipate ability to repay debt; apply industry research across transactions and share key takeaways across the organization
  • Write and prepare all parts of the credit approval document independently; identify need for supplemental analysis and discussion, anticipating questions that will be raised during deal review and approval meetings
  • Operate in close partnership with the relationship manager in developing a Sponsor coverage model for defined geographic area
  • Oversee deal team(s), including delegating and reviewing work, providing feedback, and coaching and developing less experienced members of the team
  • Leverage deep expertise in industry trends and market analysis to present findings and potential opportunities to senior management with ease
  • Review financial models independently and incorporate complex structures or nuances
  • Propose appropriate structuring options in tandem with deal team
  • Interpret pricing model outputs in context of business return hurdles and consider areas for increasing returns
  • Oversee closing process requirements; review closing memo, as applicable
  • Lead documentation process and negotiate provisions of term sheets, commitment letters, and fee letters with internal and external counsel as well as clients
  • Knowledge of the complexity of syndicated transactions; has the ability to lead the partnership with internal Syndications partners for deals in which the Bank has a leadership role
  • Focus on improving processes and procedures; work on cross-functional teams seeking to revise internal underwriting protocols, rationalize and influence adjustments to credit approval requirements, and streamline processes
  • Ensure compliance with credit policies and procedures as maintaining and well managed business is critical to the role and the organization


Additional Responsibilities may include:

  • Build relationships across function and business to foster collaboration between partner groups
  • Interact directly with customers to cultivate strong relationships while balancing risk and return
  • Consult with legal or Special Assets Department
  • Mentor and train rotational analysts and new hires
  • Participate in internal initiatives to ensure the business is well-managed and operates efficiently
  • Capital One is open to hiring a remote employee for this opportunity


Basic Qualifications:

  • Bachelor's Degree or Military Experience
  • At least 10 years in credit underwriting at a bank, debt fund or fintech
  • At least 2 years managing people, either in a formal reporting structure or leading deal teams
  • Proven ability to deliver fast, high-quality product
  • Strong customer-facing acumen to actively and effectively participate in client meetings and negotiations
  • Deep industry knowledge of REITs, as well as familiarity with Agency Warehouse lending; possess broad understanding of CRE fundamentals on a corporate, portfolio and asset level, including CRE trends, metrics, structures and sector specific considerations.
  • Strong knowledge across all property types of commercial real estate and financing structures, including unsecured revolving lines of credit and term loans; warehouse lines of credit; and/or bridge loan facilities.
  • Mindset of being well managed and well governed (i.e., designing thoughtful processes and controls)


Preferred Qualifications:

  • Master's Degree in Accounting, Finance, or other relevant fields
  • Strong knowledge of legal matters pertaining to commercial real estate
  • Experience with structured products (such as master repo agreements and note on note)
  • Proficient in MS Office or Google Suite
  • Proficient in REIT corporate cash flow modeling


At this time, Capital One will not sponsor a new applicant for employment authorization for this position.

#UWPM

No agencies please. Capital One is an Equal Opportunity Employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, age, national origin, religion, physical and mental disability, genetic information, marital status, sexual orientation, gender identity/assignment, citizenship, pregnancy or maternity, protected veteran status, or any other status prohibited by applicable national, federal, state or local law. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

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Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).

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