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CIB - Securitized Products Group - Commercial Real Estate (CRE) Underwriter - Vice President
September 15, 2020
Reviewing, analysing, and researching (i) commercial real estate secured loan & bond transactions; and (ii) the acquisition of performing and financing of non-performing loan portfolios in the APAC region.
Originating new deals in the region in collaboration with JPM bankers and client coverage teams
Lead real estate underwriting in collaboration with team's property underwriters, including researching transaction comparables & macro market environment and summarising key findings
Overseeing of team juniors in production of real estate and loan model outputs, and the creation of detailed loan summaries and portfolio stratification analysis to assist in the loan/bond structuring. Taking full responsibility for quality of output & conclusions reached.
Liaising with loan & bond syndicate to assess market liquidity, pricing, and potential distribution strategies. Incorporating findings into the structuring and underwriting process.
Preparation of clear and concise deal proposals/memos for discussions in internal committees & with senior management
Production of clear indicative terms / quotes, in-line with internal processes and guidelines, to provide to clients in a timely manner
Working closely with clients, lawyers, and other key external and internal stakeholders to lead & manage the full transaction execution process. Key examples include (amongst others):
Producing clear scope of work to provide to law firms in order to receive quotations for assisting various stages of loan/bond execution
Working closely with clients in order to negotiate & agree a term sheet covering all key indicative terms (with senior oversight/involvement)
Reviewing transaction legal and property due diligence, assessing key risks and suggesting potential mitigants (structural or otherwise) to protect JPM interests as lender
Deep involvement in the documentation process with internal and external legal counsel & key business stakeholders to ensure legal documents adhere to JPM policy and reflect a fair representation of the commercial terms agreed.
Managing all internal stakeholders to ensure required internal steps are completed & internal stakeholders have signed-off/approved
Coordinating the various key closing steps to enable a smooth transaction closing/funding
Broad experience in assessing & underwriting commercial property including deep knowledge of commercial real estate principles, associated valuation approaches, and key tenant / lease fundamentals - in order to properly & fully assess various asset risks/mitigants and appropriate cash flow prospects
Detailed past involvement in all aspects of the underwriting, structuring, and documentation of non-recourse commercial real estate mortgage financings in HK, China, and the APAC region - including the review & drafting of loan and bond term sheets
Previous deep involvement in the acquisition and/or financing of Non-Performing Loan (NPL) / REO portfolios secured on CRE assets - including a good understanding of the underwriting, analysis, and due diligence undertaken in deciding loan resolution strategies for non-performing CRE loans
Excellent project management experience - preference for evidence of involvement in the managing of large complex processes
Some experience in the analysis, structuring, and rating agency discussions involved in the structuring and documentation of CMBS issuances would be beneficial
10+ years' experience from a US IB preferred
Extremely proficient in the handling and manipulation of data
Very good attention to detail and strong analytical skills
Strong financial modelling skills (Excel / VBA)
Good interpersonal skills to assist in the management and development of client relationships
Fluent Mandarin essential (reading & writing)
J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world's most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.
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. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs.