OverviewAt First Republic, we care about our people. We offer extraordinary client service in private banking, private business banking, and private wealth management. Founded in 1985, we believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued at First Republic. Incredible teams doing exceptional work, every day.In Relationship Management Team Support, we document, process and underwrite both residential and commercial loans. We provide exceptional client service to internal and external partners. We support our Relationship Managers in all aspects of the loan process to ensure that we are delivering a seamless lending experience to our clients.Duties and
Responsibilities
See service from a higher perspective.As a Commercial Loan Specialist, you’ll be responsible for overseeing all stages in the Commercial Real Estate loan process, from initial qualification to loan funding. Ensure that all multi-family, commercial, mixed-use, unsecured loans, loan renewals, extensions and modifications are analyzed, underwritten, and processed in a timely manner while achieving a high level of customer service.
Responsibilities
primarily focus on processing and underwriting commercial real estate but may include analysis of other loan types including but not limited to unsecured lines, stock secured loans, and complex residential loans.
What you’ll do as a Commercial Loan Specialist:
Write loan narrative workbooks which include the analysis of client financials and a variety of income property including but not limited to multi-family, commercial, and mixed-use properties. The underwriting entails analyzing and summarizing appraisals, rent rolls, leases, and property cash flow to evaluate operating performance, trends, and risks. It also entails analyzing borrower tax returns (business and personal returns), financial statements, real estate schedules, liquidity positions, financial ratios, recurring sources of cash flow, and client ability to service debt. Size and qualify loans for approval and present deals to Executive Loan Committee (ELC). Collaborate with Relationship Managers (RMs), Client Service Specialists (CS), ELC, and clients to help determine loan structure, loan amounts, and products.Organize all financial documentation and compile/review loan files for completeness, identify missing documentation, and generate needs lists for clients and RMs.Identify and report to RMs any risks related to loan collateral and/or client financial state.Complete basic loan processing, such as opening escrow and title, ordering appraisals and environmental reports, entering loans on the system and locking interest rates.Manage loans through closing and funding stage. Work with escrow to satisfy all conditions and coordinate closings.Update Maturity Report and Assist Loan Monitoring Group with collecting any financial information needed for financial covenants.Manage constant deal flow and prioritize to ensure loans close on time with high degree of accuracy in a deadline-oriented environment.Analyze each loan file, ensuring the narrative workbook/credit memo, appraisal(s), application, preliminary title report and verifications meet secondary market and First Republic Bank loan program criteria and are accurately documented.Work positively and proactively with all members of the team. Cross trains other team members, when applicable.Perform duties & responsibilities specific to department functions & activities.Performs other duties & responsibilities as required or assigned by supervisor.
Responsibilities
include the following: 1) adhering to and complying with all applicable, federal and state laws, regulations and guidance, including those related to Anti-Money Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.), 2) adhering to Bank policies and procedures, 3) completing required training, 4) identifying and reporting potential suspicious activity to the BSA/AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank.
Qualifications
You could be a great fit if you have:
College degree preferred.Must have 5 years’ experience in CRE/multi-family/mixed-use underwriting Extensive experience in underwriting multi-family, mixed-use and commercial real estate loans. Advanced analytical skills, with a focus on underwriting commercial real estate and client financial data.Familiarity with commercial real estate appraisals.Ability to multi-task and work in fast paced/deadline oriented environment.Strong attention to detail and organization skills with the ability to self-manage time and work flow to meet deadlines.Effective written and oral communication skillsExpert knowledge of financial statement spreading, including proficiency in preparing pro-forma statements in Microsoft Excel, Moody’s or equivalent financial analysis software. Extensive knowledge of commercial credit and lending concepts, practices and regulations.
Job Demands:
Must be able to review and analyze data reports and manuals; must be computer proficient.Must be able to communicate effectively via telephone and in person. Own your work and your career – apply nowAre you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career? If so, then come join us. We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability – that’s the First Republic way. We believe that a diverse range of backgrounds and ideas has and will continue to be fundamental to the future success of First Republic. If you are curious to learn more about this opportunity, we’d love to hear from you. This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship. First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.
For New York City-based roles:
Mayor Bill de Blasio announced that, effective December 27, 2021, all private sector employers?in New York City will be required to ensure that their employees are vaccinated against COVID-19 to attend work in the office. Reasonable Medical or Religious Accommodations may be requested if applicable to you. Please view New York’s Guidance on Accommodations for Workers for more information.PDN-94ae0472-122b-4141-b0b6-ebff4ace698b
Associated topics: banking product, banking service, loan officer, loan originator, loan servicing officer, loan underwriter, mortgage loan officer, mortgage servicing officer, personal banker iv, sell