AVP, Senior Underwriter

Company Overview Berkshire Residential Investments is a people-first real estate investment company who values not only the impact we make as a company, but the time we spend together in our high-performing teams. We value individual skills and perspectives to allow us to best serve our employees, investors, residents, and other stakeholders. If you're interested in a workplace where everyone feels empowered to bring their full, authentic selves to work each day, come join our talented and growing team at Berkshire Residential Investments. Our environment of entrepreneurial spirit, culture of expertise and our people-first approach will allow you to thrive while continuing to grow in your career. Position Summary The AVP, Senior Underwriter will be responsible for reviewing the underwriting and due diligence of transitional loans in the MF1 program. They will be responsible for providing timely review and feedback to the underwriter, to problem-solve and/or escalate credit issues and risks prior to loan/investment committee. They will serve as a resource to the underwriting and deal teams and as a liaison to the investment committee. They will be responsible for managing relationships with key stakeholders including joint venture partners, borrowers/sponsors, and the Debt Investments team. Responsibilities include, but are not limited to: Ensure consistent UW policies, procedures, and processes are in place and followed, including underwriting models/templates and ASR content Be go-to for underwriting issues from internal and external partners Review underwriting packages prior to distribution to Investment Committee. These reviews should anticipate and address credit issues that are likely to be raised by committee members. Monitor status and progress of all deals in underwriting (under application) and solve or elevate issues that arise during due diligence Gain credibility as a key, trusted resource to senior management that is knowledgeable and conversant on each deal, especially key risks/mitigants, thoroughness of Due Diligence and integrity of data Regularly communicate with the deal team, including legal as necessary, on deal level issues to ensure proper loan structure and credit. Review all third party reports and due diligence to ensure early identification and mitigation of risks, issues, and/or concerns. Review Borrower Organizational Charts and due diligence to ensure program requirements are met and identify/mitigate credit weaknesses or issues. Ensure questions that are raised by IC are addressed, in coordination with the underwriter; ensure inclusion in ASR as appropriate. Ensure outstanding deal/transaction issues and concerns are resolved prior to closing. Consistently demonstrate use of tact and discretion. Knowledge/Experience: A seasoned real estate professional with comprehensive knowledge of the residential sector. 10+ years of experience preferred. Savvy and experienced underwriting, structuring, and monitoring of multifamily debt transactions, including transitional loans. Experience with transitional assets, construction draw reviews, and/or value add renovations a plus. Experience with GSE multifamily lending programs preferred. Special Servicing, Loan Restructuring/Workout and Distressed Loan experience a plus Experience in both debt and equity transactions a plus Knowledge of full capital structures Demonstrated successful experience in structuring equity, mezzanine, and preferred deals Excellent verbal and written communications skills Ability to work independently, with limited support to deliver results Ability to influence and persuade, using a variety of approaches appropriate for the situation and party being influenced Ability to travel for site inspections Demonstrated management skills with track record of building teams and identifying, mentoring, and growing talent in-person and virtual Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem solving Demonstrated multi-modal communication style that reaches every stakeholder, specifically excellent verbal, and written communications Collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic Demonstrate emotional intelligence in high pressure and sensitive situations Ability to see, analyze and understand business dealings in terms of the overall business plan Tenacity, patience, and perseverance to work with business deals from beginning to end of process Represent the Berkshire employment brand well to candidates by seeking to understand the capabilities and insights of people with unique backgrounds, cultures, styles, and abilities Maintain confidentiality of sensitive information and communications of information Develop productive working relationships with all team members including internal clients and external third parties Demonstrated high level of ethics and integrity with a straightforward and honest approach Technical/Educational Requirements: Bachelor's Degree in a related field; MBA or related master's degree a plus Demonstrated advanced financial modeling and Excel skills required Demonstrated ability to use and learn new technology (e.g., computers/hardware, mobile, software, cloud-based programs) Proficiency in Microsoft Suite of Products (e.g., Word, Outlook, Excel, Teams, Power Point) Yardi experience preferred Investment analytical skills and advanced Excel modeling capabilities Berkshire Residential offers an excellent benefits package, focusing on our employees' total health and wellness. We offer programs and incentives that promote physical, mental, financial, and behavioral wellbeing both within and beyond our workplace. Please visit our Careers page for full details - and to learn more about how we value our employees. Berkshire Residential values diversity, equity, inclusion and belonging. Berkshire is committed to providing equal opportunity in all practices, including employees and applicants for employment. We ensure that decisions affecting employees are made without regard to their race, color, creed, national origin, age, disability, gender, gender identity, sexual orientation, or any other protected status.

Created: 2024-11-05