Commercial Real Estate Advisory - Contact Us
15 Ketchum Street, Westport, CT 06880
The Director of Underwriting is responsible for working with internal partners, analysts and clients to underwrite debt and equity transactions. The role includes responsibility for conducting all aspects of underwriting and related due diligence, including market research, property/financial analysis, third party document review and writing associated narrative components as required by SSA clients. The Director will be responsible for managing the underwriting needs for a specific set of SSA clients.
This position is expected to demonstrate subject matter expertise in credit risk management, to perform responsibilities independently and to complete client deliverables in an expeditious, accurate and timely manner. In addition to your own job duties, responsibilities include all aspects of managing and reviewing work product of a dedicated team of direct report underwriting analysts.
Primary underwriting responsibilities of the Director will be to:
· Lead due diligence process and evaluate industry research to draw relevant conclusions on material strengths, risks, and mitigants.
· Assist direct reports in the analysis of financial statements, cash flows, property data, macro/micro market conditions, debt structure and the composition of related descriptive narrative.
· Prepare and review financial models for accuracy and completeness (Excel/Argus).
· Operate in close partnership with clients and other team members by leading client meetings, client calls and negotiations.
· Have a broad understanding of commercial real estate fundamentals, including macro-economic and property market metrics and trends.
· Write, prepare and have ultimate accountability for completing all parts of the underwriting deliverables with the support of the analyst team.
· Drive the overall underwriting process in a highly efficient and timely manner, lead proactive communications with internal and external constituents and constructively improve the underwriting process.
· Build relationships with colleagues across different internal SSA functions to foster collaboration between partner groups.
· Interact directly with clients to cultivate strong relationships while balancing risk and return to SSA.
· Source, interview, mentor and train new direct reports on the analyst team.
· Participate in internal initiatives to ensure the business is well-managed, operates efficiently and maximizes profit.
· Bachelor’s Degree in Business Administration, Accounting, Finance, or other relevant fields.
· 7+ years of experience in credit underwriting or portfolio/asset management.
· Previous leadership (informal or formal) experience in managing deal teams or analysts.
· Strong knowledge across all property types of commercial real estate and financing structures including, but not limited to, construction and bridge loan facilities.
· Strong knowledge of valuation, legal and other due diligence aspects pertaining to commercial real estate.
· Proficient in MS Office Suite or Google Suite.
· Advanced skills in cash flow modeling in Argus and Excel.
· Excellent communication skills.
Summer Street Advisors is looking for an experienced MAI or equivalent for our expanding appraisal review business. We at Summer Street Advisors work with banks, private equity, and debt funds in their appraisal management and review functions. Assignments are across the United States and span all asset classes. Transaction types include predevelopment, construction, Value Add, Core + and Core.
We are looking for experienced reviewers to provide additional capacity to our review business as our volume increases. Assignments are on a contractor basis (per review) and will be predicated on availability of the reviewer and volume.
Assignment components include:
· Reviewing the appraisal for compliance (USPAP and FIRREA).
· Reviewing the appraisal to ensure supportability, logic and methodology.
· Reviewing the financial model (Excel or Argus) to ensure accuracy and the model matches the figures presented in the appraisal report.
· Providing questions to a centralized question log.
· Availability, if necessary, to speak with Summer Street Advisors staff on issues surrounding the appraisal.
· Completion of the final appraisal review form.
· Possess an MAI designation.
· Licensed or ability to obtain reciprocal licensing in as many US states as possible.
· Access to Argus AE.
· Have experience in multiple asset classes.