Sr. Manager, Credit

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 NGCs risk profile. While Deal Teams hold primary underwriting responsibility NGCs 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 builders 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)

Anticipated Posting End Date:

Actual base salary may vary based upon but not limited to relevant experience time in role base salary of internal peers prior performance business sector and geographic addition to base salary the competitive compensation package may include depending on the role participation in an incentive program linked to performance (for example annual discretionary incentive programs non-annual sales incentive plans or other non-annual incentive plans).

Company Overview

Nuveen is a global investment leader managing public and private assets for clients around the world and on behalf of TIAA our parent company and one of the worlds largest institutional investors. We invest in the growth of businesses real estate infrastructure and natural capital providing clients with the reliability access and foresight unique to our heritage. Our prevailing perspective on the future drives our ambition to innovate and adapt our business to the changing needs of investors - all to pursue lasting performance for our clients our communities and our global to learn more about us.

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At TIAA were on a mission to build on our 100 year legacy of delivering for our clients while evolving to meet tomorrows 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 Nuveens entrepreneurial spirit where we work hard and work together to create lasting impact. Here every associate can grow through meaningful learning experiences and development pathwaysbecause when our people succeed our impact on clients lives grows stronger.

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