Who we are looking for Global Credit Finance (GCF) is the lending division of State Street. The division's mandate is to attract, support and retain bank clients through the use of our balance sheet and strong rating, and to add income and diversification to State Street's portfolio of on and off balance sheet investments. GCF is comprised of five product groups including Fund Finance, Leveraged Loans, Commercial Real Estate Lending, Stable Value Wrap, and Municipal Finance. The Commercial Real Estate Lending team provides term loans secured by first lien mortgages on commercial real estate properties to mostly institutional clients.
The candidate will join the Commercial Real Estate lending team within State Street's Global Credit Finance division to grow and manage a portfolio of commercial real estate mortgage loans. The team is responsible for sourcing, underwriting and closing real estate loans secured by office, retail, multi-family, industrial, and hospitality properties.
Why this role is important to us The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.
What you will be responsible for As CRE Loan Officer, VP you will
Performing credit and risk assessment of borrowers' financial and business background
Performing credit and risk assessment of the real estate collateral including property economics and market analysis
Evaluating loan opportunities by its structure, legal documentation and pricing in accordance with our credit risk appetite
Preparing financial projections and underwriting memoranda for credit approval
Participating in the closing of all approved loans
Performing annual credit review and monitoring loans for problems, and recommend workout and recovery solutions for non-performing or defaulted loans
Coordinating workflow with other departments and stakeholders within State Street
Education & Preferred Qualifications
Bachelor's degree and Master's degree in business, finance, accounting or related field
Minimum of 10 years experience as a commercial real estate loan officer, preferably at a life insurance company, with specific experience in commercial real estate lending
Completion of a credit analyst training program from a major institution preferred
Previous experience working with credit risk analysis and commercial real estate loan underwriting
Ability to interpret policies and procedures
Have good understanding of commercial real estate legal framework, and loan agreement and other supporting legal documents
Experience with Excel and/or Argus valuation software
Strong interpersonal skills
Strong verbal and written communication and presentation skills
Capacity to work independently and motivation to achieve goals with minimal supervision
Ability to participate productively as part of a team
About State Street What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients. Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary in locations, but you may expect generous medical care, insurance and savings plans among other perks. You'll have access to flexible Work Program to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential. Inclusion, Diversity and Social Responsibility. We truly believe our employees' diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you. State Street is an equal opportunity and affirmative action employer. Discover more at StateStreet.com/careers