Associate, Underwriter

  • Job ID


  • Job Category

    Underwriting - Other

  • Business Unit

    Commercial Real Estate

  • Job Location

    US - NY - New York

SitusAMC is where the best and most passionate people come to transform our client’s businesses and their own careers. Whether you’re a real estate veteran, a passionate technologist, or looking to get your start, join us as we work together to realize opportunities for everyone, we proudly serve.

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!
Position Overview
We are looking for an Associate level Underwriter for our client, a multi-$billion-dollar financial services institution (the “Bank").  In this role, you would support the origination, underwriting, closing and execution of commercial real estate loans for the Bank’s CMBS and balance sheet programs. The loans are primarily $5-200M 10-yr fixed rate loans on stabilized, cash flowing properties in diverse asset classes across the US.

Essential Job Functions
  • Underwrite and close commercial real estate loans for multiple borrowers and different asset types
  • Participate in initial loan sizing, collaborating with origination and capital markets
  • Preparation of credit memos for committee, including cash flow analysis, risks and strengths, borrower / sponsor review, and market analyses
  • Interface regularly with internal staff, clients, legal counsel, and other third-party providers to discuss specific projects
  • Complete site inspections and detailed market analysis, including broker interviews and discussions with property management
  • Analyze detailed property financial information
  • Create and/or review existing Argus cash flow models; edit assumptions based on actual market data collections and financial review information
  • Ability to review third party reports (appraisal, engineering, environmental, etc.), and identify key issues that warrant further investigation and/or revision
  • Collaborate with appraisal review group to discuss specific appraisal methodology and ensure that the assumptions used in the appraisal are well-supported and are consistent with the actual terms at the Property and/or market
  • Assess borrower’s credit worthiness by reviewing financial statements, credit reports, and media searches
  • Ability to evaluate major/single tenant performance or financial condition
  • Analyze loan structural features and have confidence to make suggestions in order to address risks
  • Participate in presentations and discussions with syndication partners, investors and rating agencies regarding any concerns related to loan structure, sponsorship, legal, property, market, and underwriting
  • Candidate is required to have a BA/BS, ideally in commercial real estate finance, finance or similar
  • At least 2-4 years’ experience underwriting commercial real estate   loans at a bank, insurance company, debt fund, investment management company or similar; specific focus on CMBS a plus
  • Strong work ethic with a solutions-driven approach to working through issues or challenges
  • Excellent communication, organizational and interpersonal skills
  • Desire to work among a diverse team and be a supportive and collaborative colleague
  • Ability to multi-task and work effectively under tight deadlines
  • Skills in structuring and planning work, and proactively manage tasks through ebbs and flows in workload
  • Strong attention to detail, analytical and accuracy skills
The annual full time base salary range for this role is ($110,000 - $125,000). 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.


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 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.

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.
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