Analyst, CRE Loan Covenant Compliance in US - NY - New York (JR01493)

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At SitusAMC, we are looking to match your unique experience with one of our amazing careers, so that we can help you realize your potential and career growth within the Real Estate Industry. If you are someone who can be yourself, advocate for others, stay nimble, dream big, own every outcome, and think global but act local – come join our team!

About Hanover Street Capital

Hanover Street Capital, LLC (“Hanover Street”) operates as a fully dedicated platform assisting Deutsche Bank’s Commercial Real Estate Group with its $20+ bn loan portfolio. We provide a comprehensive suite of services across commercial real estate transactions and are uniquely positioned to apply our expertise and flexibility of resources to help our client solve any problem, make informed decisions, and maximize the value of their assets. With practice teams dedicated to commercial real estate loan originations, asset and portfolio management, loan servicing and administration, and transaction management, we offer a broad range of capabilities across all CRE property and credit types ranging from senior mortgages to subordinate debt. Established in 2012, Hanover Street is a wholly owned subsidiary of SitusAMC.

Job Description

You will report directly to the head of CRE reporting compliance. Your responsibilities will loan covenant identification and tracking, loan document review and interpretation, required loan document deliverables solicitation, quarterly reporting audits, database management. As a team member, you will:

• Experience the end-to-end business model of a major international bank’s commercial real estate debt platform.
• Liaise with internal teams including portfolio management, asset management, and loan administration.
• Acquire knowledge of commercial real estate designed to help you succeed including formal sessions led by experienced leaders at Hanover Street and our client, Deutsche Bank.
• Be seconded to work within Deutsche Bank’s Commercial Real Estate Group.

Specific responsibilities include:

• Review loan documents to understand deal structure, funds flow, economics, and servicing requirements as detailed in deal summaries, credit approvals and legal documents.
• Interpret legal documents from newly closed and existing loan portfolio to identify borrower’s reporting requirements by borrower, guarantor, sponsor or any other obligor.
• Support Hanover Street’s asset managers by communicating reporting requirements to obligors, tracking reports received, and updating the loan covenant database (the “ARK”), as needed.
• Update the ARK with missing data points and with changes recommended by asset managers and/or loan administrators changes.
• If, and as needed, assist your colleagues on the loan covenant compliance team to gather supporting financials for calculated financial covenants.
• Work with the head of reporting compliance team to conduct random reviews of “closed” reporting to ensure accuracy and compliance.
• Perform ad hoc analyses for Hanover Street’s asset management team and respond to requests from Deutsche Bank.
• Be the primary contact for the synchronization of financial covenants between Hanover Street and Deutsche Bank for the global CRE portfolio.
  • Gather relevant financial covenant datapoints (e.g., quarter-end borrower debt yield, debt service coverage ratio, guarantor net worth or liquid assets) for obligors from the ARK and enter them into the relevant fields in Deutsche Bank’s database for respective timeframe.
  • Review approval trackers for waivers, modifications or review of financial covenant thresholds.  Apply any changes to the Deutsche Bank database for accurate comparison of thresholds against actual results.

Qualifications sought:

• A bachelor’s degree in accounting, business, or economics and/or coursework in commercial real estate
• An interest and willingness to learn about the commercial real estate sector finance business
• Strong quantitative and analytical skills
• Proficiency in Excel®, Word®, PowerPoint®. Ability to work with large datasets to process and process results.
• Highly developed organizational and project/time-management skills with an ability to manage multiple priorities and meet multiple deadlines
• Excellent communication, presentation, and business writing skills under pressure
• A strong commitment to integrity, professionalism, and Hanover’s guiding principles
• A demonstrable ability to work both independently and effectively with team members in diverse groups and regions
• Solid work ethic, self-motivation level, and strong attention to detail

Note: This job description is not intended to be all inclusive or exclusive. At any time, employees may perform other related duties as required to meet the ongoing needs of the organization and participate in additional trainings. SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume.

The annual full time base salary range for this role is

Specific compensation is determined through interviews and a review of relevant education, experience, training, skills, geographic location and alignment with market data. Additionally, certain positions may be eligible to receive a discretionary bonus as determined by bonus program guidelines, position eligibility and SitusAMC Senior Management approval. SitusAMC offers PTO and paid holidays, the terms of which are set forth in the program policies. All full time employees also are eligible to participate in various benefit plans, including medical, dental, vision, life, disability insurance and 401K; in each case in accordance with the terms of the applicable plans.

Pay Transparency Nondiscrimination Provision

SitusAMC is an Equal Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.

Know Your Rights, Workplace Discrimination is Illegal

SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume.