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Form of workJPMorgan Chase Bank (JPMC) Community Development Banking (CDB) business is a national leader in Community Development finance for affordable housing and economic development projects. CDB offers financing for projects of any size and complexity, including construction financing, bridge and acquisition loans, letters of credit to support bond transactions, and long-term permanent financing for Low Income Housing Tax Credit developments and bond purchases. CDB'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 Permanent Lending Relationship Manager opportunity available, with flexibility to be based in one of CDB's regional offices. As a Perm Relationship Manager, you will manage a portfolio of permanent loans and lead the conversion underwriting for permanent loans as part of JPMC's construction-to-permanent loan balance sheet product. You will routinely engage with our clients who are focused on developing and rehabilitating multifamily affordable rental housing utilizing the Low-Income Housing Tax Credit (LIHTC) program nationwide.
Job Responsibilities
- In preparation of conversion underwriting packages, review operating statements, rent rolls, cash flow forecasts, project budgets and loan documents to identify any changes in performance and risks upon the property's stabilization. Lead the JPMC CDB deal team in conference calls with clients, attorneys, and equity partners to coordinate permanent loan conversion closings; and supports post-closing follow-up with internal business partners. Evaluate and recommend adjustments to the final funding of permanent loan commitments as part of the conversion to permanent financing.
- Serve as the primary point of contact for client requests regarding loan servicing requests; facilitate and respond to client loan inquiries; and collaborate with clients on maturing loan payoff and take-outs.
- Manage risk issues on an active book of loans in collaboration with the Credit Risk team. Review and report on adversely classified loans, delinquencies, and maturing loans to mitigate risk issues and address performance concerns.
- Identify product and service opportunities to improve the client experience.
- Performs special projects as needed.
- Originate multifamily affordable housing term loans for the JPMC balance sheet and curate referrals for the Agency Lending loan programs.
- Represents the firm at industry related conferences and other events.
Required Qualifications, Capabilities, and Skills
- A minimum 5 years in commercial Real Estate credit, Real Estate underwriting, and/or multifamily housing. Related experience may include multifamily credit underwriting, multifamily development, LIHTC property operations and management, or LIHTC asset management.
- Strong analytical and investigatory skills; a mindset oriented to due diligence and financial analysis; and excellent written and verbal communication skills.
- Ability to work independently, with minimal supervision and direction, and oversee multiple tasks at the same time. Excellent teamwork and customer service; consistently delivering on commitments to colleagues and internal and external customers.
- Intermediate to expert proficiency in Microsoft products, including MS Word, Excel and Teams.
- Bachelor's degree required.
Preferred Qualifications, Capabilities, and Skills
- Knowledge of affordable housing finance; LIHTC transactions; and/or agency lending (Fannie Mae/Freddie Mac preferred).
- Experience working with state housing finance agency LIHTC administration and subordinate debt programs; tax exempt bond financing; and/or HUD subsidy programs.
Commercial Banking is focused on helping our clients succeed and making a positive difference in our communities. We provide credit and financing, treasury and payment services, international banking and Real Estate services to clients including corporations, municipalities, institutions, Real Estate investors and owners, and nonprofit organizations.
The Commercial Real Estate (CRE) group is the nation's leading multifamily lender, leveraging its industry knowledge to offer best-in-class and cost-effective financing solutions across all major Real Estate asset classes with speed, ease and certainty of execution. Teams work with national and regional clients across the sector, including developers, investors, owners, operating companies, investment funds, Real Estate investment trusts and non-profits.
JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We recognize that our people are our strength and the diverse talents and perspectives that 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. (If you are a US or Canadian applicant with a disability and wish to request an accommodation to complete the application process, please contact us by calling the Accessibility Line (US and Canada Only) 1-866-777-4690 and indicate the specifics of the assistance needed.)
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set, and location. For those in eligible roles, we offer discretionary incentive compensation which may be awarded in recognition of firm performance and individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
JPMorgan Chase is an Equal Opportunity Employer, including Disability/Veterans
