CRE Lending Analyst, Officer (Finance)
About Us
Global Credit Finance (GCF) is the lending division of State Street, comprised of ~120 professionals globally. Both very nimble and profitable, GCF's mandate is to attract, serve and retain State Street's clients through the extension of credit, while optimizing the profitability of a diversified portfolio of loans constructed within balance sheet constraints.
GCF is comprised of five product groups including Fund Finance, Leveraged Loans, Commercial Real Estate (CRE) Lending, Stable Value Wrap and Municipal Finance. The candidate will join the CRE Lending team.
The CRE Team
The CRE Lending team is a diverse 10-person team within GCF that provides fixed and floating loans secured by first lien mortgages on commercial real estate properties to institutional clients. Team members are primarily located in Boston, MA with a few individuals also in California and Ireland.
Primary objectives of the team include sourcing; underwriting and closing real estate debt transactions secured by office, retail, multi-family, industrial, and hospitality properties; as well as maintaining compliance with banking regulations. Our deal sizes range from $20-$100M.
Why this role is important to us
The group currently has a ~$3BN debt portfolio, which is slated for growth over the next few years. A dynamic individual with a keen long-term interest in real estate, will be integral to the success of our long-term goals in managing the portfolio and supporting origination opportunities.
As a relatively young business within GCF, the CRE business model is very much evolving in terms of size, strategic product expansion and technology initiatives to better enhance our productivity. Thus, there is no shortage of opportunities for incoming team members to make an important strategic impact.
The CRE Lending team has a fun, flexible and "start-up" like team culture that exists within a much larger organization. A successful officer will benefit from mentoring from the senior members of the team to develop/bring robust credit underwriting and portfolio management skills, but also get involved with an array of strategic initiatives to propel growth of the business. Examples include our ESG initiatives; use of Tableau, Salesforce, Valuation and Credit models; and assistance with regulatory compliance, a necessary part of the banking industry. Opportunities to travel for conferences or site visits to properties will also be available.
What you will be responsible for
As our CRE loan officer, you will
- Perform credit and risk assessment of borrowers' financial and business background
- Perform credit and risk assessment of the real estate collateral including property economics and valuation, and the market/sub-market analysis
- Evaluate loan opportunities by its structure, legal documentation and pricing in accordance with our credit risk appetite
- Prepare financial projections and underwriting memoranda for credit approval
- Participate in the closing of all approved loans
- Perform annual credit review and quarterly monitoring of portfolio loans, including producing and reviewing timely reporting
- Coordinate workflow with other departments and stakeholders within State Street
Education & Preferred Qualifications
- Bachelor's degree
- ~2 years of experience in lending and or real estate preferred; completion of a prior credit analyst training program from a major institution is a plus
- Strong command of Excel and PowerPoint
- Valuation experience a plus
- Keen appetite to learn the nuances of commercial real estate lending, underwriting properties and ongoing surveillance of their performance
- High level of attention to detail
- Strong interpersonal skills
- Strong verbal/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
Salary Range:
$70,000 - $115,000 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
State Street's Speak Up Line
Salary Minimum: 70000Salary Maximum: 115000