Commercial Banker or Commercial Banker Associate
Community Development Real Estate Banking
Los Angeles, CA
Req #: 190086429
Location: Los Angeles, CA, US
Job Category: Relationship Management/Sales
J.P. Morgan Chase's Community Development Real Estate Banking (CDRE) business is a national leader in community development finance for affordable housing and economic development projects. Through our resources, CDRE offers financing for projects of any size and complexity, including construction financing, bridge loans, acquisition loans, letters of credit to support bond transactions, and long-term permanent financing for Low Income Housing Tax Credit developments and bond purchases. CDRE's clients include: For-profit and not-for-profit developers; Government entities engaged in housing and economic development; and Community-based organizations.
We have a CDRE Commercial Banker opportunity in our Los Angeles office. This key sales position will be responsible for developing, growing, and managing new and existing developer relationships in the west region. Experience regarding taxable and tax-exempt construction and permanent financing for affordable housing projects utilizing federal Low Income Housing Tax Credits is required. Other relevant experience in commercial real estate finance, New Markets Tax Credits and/or Historic Tax Credits is a plus. Our clients are both not-for-profit and for-profit entities which develop and/or preserve affordable multi-family housing properties in numerous markets nationwide. Our CDRE Bankers work with Treasury Services professionals to provide a full array of deposit and cash management services to our client base. Major responsibilities of this position include the development of profitable new business opportunities, preliminary loan underwriting, and maintaining a portfolio of high credit quality.
Identify and aggressively solicit appropriate debt and deposit opportunities
Appropriately assess transactional risk via thorough knowledge of sponsor, financial, legal, construction management and market issues
Confidently represent the Bank in negotiation of acceptable credit terms and structure for complicated transactions
Work with a dedicated underwriting team to insure the timely completion of due diligence and preparation of comprehensive credit approval packages
Work with closing staff and legal counsel to insure that the documentation for each transaction is accurate, appropriate, and consistent with the terms of credit approval
Communicate with the loan administration unit to maintain awareness of construction progress, appropriateness of draw requests, adequacy of debt and equity sources, time delays, cost overruns, usage of contingency funds and compliance with legal documents
Surface issues as they arise with the client to ensure good customer service and adequate protection of the bank.
Professionally represent the Bank at industry-related conferences and other such events
Strong analytical skills with 5 to 10+ years experience in the affordable housing industry. Skills should include experience in structuring, underwriting, closing, and administering commercial real estate construction loans for affordable multifamily housing.
Demonstrated success serving clients in the affordable housing industry; strong familiarity with the market
Knowledge of standard bank credit policies and loan administration procedures
Ability to work independently and with minimal supervision and direction
Ability to interact favorably in person and on the telephone with prospects, clients, consultants, government agency staff, legal counsel, and team members
Team player able to adjust priorities to achieve team, as well as individual, goals
Excellent written and verbal communication skills
Strong PC skills; proficient in MS Word, Excel, and PowerPoint
Domestic travel is required, occasionally overnight; must hold valid drivers license
Bachelors degree required; MBA preferred
The final officer title and job grade is at the discretion of the firm and will be discussed at the time of offer. It may be different than what is listed on the requisition based on candidate experience level.
Jpmorgan Chase & Co.