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Sr. Manager, Credit

Sr. Manager, Credit

TIAAUSA, New York, New York
15 days ago
Job type
  • Full-time
Job description

The Credit Team at NGC facilitates new CPACE financing originations by partnering with deal teams to help structure, review, approve, appropriately risk-adjusted assessments in line with NGC's risk profile. While Deal Teams hold primary underwriting responsibility, NGC's Credit Team provides key underwriting support throughout the originations process including providing 'red flag' feedback or structuring input to help the team achieve smooth closings and understanding the overall risk tolerance strike zone. Additionally, the Credit Team takes the lead in representing deals post-close with investors and other stakeholders.

The Sr. Manager, CPACE Credit role supports the Credit Team in its work overseeing and representing the underwriting of CPACE transactions. Working in coordination with credit team members, this role provides the base Greenlight stage and pre-close stage review of a proposed transaction to ensure compliance with credit requirements, guidelines and policy. This role further supports the credit department through appraisal ordering, data management, reporting, underwriting resource maintenance, and special topics research.

Key Responsibilities and Duties

  • Reviews early-stage deals to confirm compliance with credit policy and guidelines and identify key open diligence or gating items.
  • Manages internal loan approval process to ensure :

Acknowledgement, tracking and timely responses to deal team inquiries

  • Verifying that underwriting and information presented is complete and accurate
  • Accurate portrayal of compliance with NGC and funder requirements
  • Credit Team and deal team have latest data on market dynamics, including running CoStar, Trepp, and / or GreenStreet reports
  • Complex issues are identified and escalated, working with senior members of the Credit team to quickly assess and mitigate risk and formulate credit decisions.
  • Appropriate approver sign-off is coordinated, obtained and documented in SF
  • Salesforce contains accurate status on deal approval and CPs
  • Takes the lead in appraisal ordering for NGC, closely tracking deliverables, performing appraisal credits review and maintaining relationships with appraisal vendors. Uses best judgement in working with deal teams to identify correct scope for appraisal orders.
  • Manages the updating and release of multiple key underwriting resources
  • Leads on any credit related data, reporting, and / or salesforce needs.
  • Educational Requirements

  • University (Degree) Preferred
  • Work Experience

  • 2+ Years Required; 3+ Years Preferred
  • Physical Requirements

  • Physical Requirements : Sedentary Work
  • Career Level

    6IC

    Required Qualifications :

  • 2+ years of commercial real estate (CRE) experience
  • Preferred Qualifications :

  • 5 - 10 years of commercial real estate (CRE) experience
  • Exposure to real estate development and real estate risk and decision making e.g., underwriting, acquisitions, lending
  • Exceptional problem-solving skills; ability to think strategically and creatively
  • Ability to self-manage a large volume of tasks and respond to changes in priority
  • Excellent written and verbal interpersonal skills; ability to engage with internal (Underwriters, Directors) and external stakeholders (borrowers, lenders, appraisers)
  • Fluency with most of the following topics :
  • Property cash flows : proformas, reading and evaluating comps

  • Valuations : reading appraisals and performing independent property valuations; market diligence; comparable sale / rent analyses; CoStar or similar real estate database
  • Financial Statements : reading balance sheets, income statements
  • Development : construction management, lien waivers, draw requests, contractor review, budget reviews
  • Capital stack components : common debt and equity structures
  • Incentive finance : tax credits (new market, historic, low income), TIF, EB-5 Financing
  • Alternative legal structures : ground leases, commercial condominiums / declarations
  • Insurance : property insurance, builder's risk insurance, earthquake / flood / fire risk
  • Real Estate Law : title reviews and common encumbrances, background searches
  • Environmental Risks : in real estate such as contamination, flood, earthquake, fire
  • Special Use Properties : such as greenhouses, churches, theme parks, etc.
  • CRE Ownership / Management Structures : organizational documents, ownership waterfalls, guarantees, management agreements, franchise agreements
  • CRE Document Review : loan documents, lease documents, property improvement plans (PIPs)
  • Company Overview

    At TIAA, we're on a mission to build on our 100+ year legacy of delivering for our clients while evolving to meet tomorrow's challenges. We equip our associates with future-focused skills and AI tools that enable us to advance our mission. Together, we are fighting to ensure a more secure financial future for all and for generations to come. We are guided by our values : Champion Our People, Be Client Obsessed, Lead with Integrity, Own It, and Win As One. They influence every decision we make and how we work together to serve our clients every day. We thrive in a collaborative in-office environment where teams work across organizational boundaries with shared purpose, accelerating innovation and delivering meaningful results. Our workplace brings together TIAA and Nuveen's entrepreneurial spirit, where we work hard and work together to create lasting impact. Here, every associate can grow through meaningful learning experiences and development pathways-because when our people succeed, our impact on clients' lives grows stronger.

    Benefits and Total Rewards

    The organization is committed to making financial well-being possible for its clients, and is equally committed to the well-being of our associates. That's why we offer a comprehensive Total Rewards package designed to make a positive difference in the lives of our associates and their loved ones. Our benefits include a superior retirement program and highly competitive health, wellness and work life offerings that can help you achieve and maintain your best possible physical, emotional and financial well-being.

    To learn more about your benefits, please review our Benefits Summary .

    Equal Opportunity

    We are an Equal Opportunity Employer. TIAA does not discriminate against any candidate or employee on the basis of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other legally protected status.

    See our full Equal Employment Opportunity & Non-Discrimination statement below. You can read more about your rights and view government notices here .

    Accessibility Support

    TIAA offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities.

    If you are a U.S. applicant and desire a reasonable accommodation to complete a job application, please use one of the below options to contact our accessibility support team :

    Phone : (800) 842-2755

    Email : accessibility.support@tiaa.org

    Drug and Smoking Policy

    TIAA maintains a drug-free and smoke / free workplace. Please see our Drug-Free and Smoke-Free Policy to learn more.

    Privacy Notices

    For Applicants of TIAA, Nuveen and Affiliates residing in US (other than California), click here .

    For Applicants of TIAA, Nuveen and Affiliates residing in California, please click here .

    For Applicants of TIAA Global Capabilities, click here .

    For Applicants of Nuveen residing in Europe and APAC, please click here .

    We are an Equal Opportunity Employer. TIAA does not discriminate against any candidate or employee on the basis of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other legally protected status.

    Read more about your rights and view government notices here .

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