Commercial Real Estate Loan Officer, AVP (Finance)

The Lending Division

Global Credit Finance (GCF) is the lending division of State Street, a growing division within the organization. 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 (CRE) Lending team provides term loans secured by first lien mortgages on commercial real estate properties primarily to institutional clients. The team is responsible for sourcing, underwriting, closing and providing ongoing surveillance of all the loans in the portfolio.

Why This Team

The CRE Lending team plays an important role in forging deeper relationships with existing and prospective clients, while also generating considerable net income and balance sheet diversification to the company's bottom line. The CRE portfolio is approximately $2.8billion in size and consists of loans on office, multi-family, hotel and retail institutional quality assets located in the U.S. Currently the team is in advanced stages to pivot strategy from solely providing direct mortgage level financing to commercial assets, to broaden out the product offering and include back leverage to other mortgage providers either via Loan on Loan, CRE Warehouse, or CRE Collateralized Loan Obligations.

The Successful Candidate

The successful AVP candidate will join a dynamic and diverse team in Boston, currently operating ~4 days a week in the Office. The candidate will bring 7+yrs of prior commercial real estate lending experience, demonstrated analytical skills and a positive attitude. An incoming AVP should possess a strong understanding of loan documents, an ability to negotiate directly with clients and counsel, and ability to coordinate internal and external parties to ensure timely and effective execution of CRE loan transactions - either in direct mortgage financing, or via back leverage facilities.

Primary Responsibilities

As an AVP CRE Transaction lead, you will:

• Evaluate loan opportunities by structure, supporting underwriting of underlying asset and preparing Credit applications. This could mean the review of Analysts work, or directly completing such Underwriting subject to team capacity
• Coordinate or oversee the closing process, incl comfortable liaising with external counsel, reviewing legal documentation and third party reports, and negotiating with borrowers and leading the completion of all necessary due diligence
• Ad hoc support of senior CRE Team management with asset management duties such as approving/negotiation lease approvals, loan extensions or other modifications that could arise
• Coordinate workflow with other departments and stakeholders within State Street, including Credit, Operations, KYC etc
• Help senior leadership source new lending opportunities and engage with existing and new clients, via attending conferences/events as necessary. Occasional travel will be required.

Education & Preferred Qualifications

• Minimum of seven years experience within CRE Loan sector (senior, mezz, back leverage (Loan on Loan/Note on Note), or CRE Warehouse), with prior loan underwriting and closing experience
• Masters or Undergraduate degree, ideally specializing in CRE or finance related workstreams
• Possess strong understanding of commercial real estate transaction documents, legal frameworks and loan agreements
• Strong valuation skillsets and experienced in assessing property values via different methodologies (via Argus/similar)
• Experience in portfolio management, incl amendment and approval requests from borrowers beneficial
• Excellent interpersonal skills and a clear communicator (verbal and written), executive level PPT skills a bonus
• Capacity to work independently and as part of a team, with a high level of motivation to achieve goals with minimal supervision

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:
$100,000 - $160,000 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. Salary Minimum: 100000Salary Maximum: 160000