JPMorgan Chase Commericial Bank - Credit Risk - Associate in Chicago, Illinois
JP Morgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at http://www.jpmorganchase.com/ .
Our Firmwide Risk Function
Our Firmwide Risk function is focused on cultivating a stronger, unified culture that embraces a sense of personal accountability for developing the highest corporate standards in governance and controls across the firm. Business priorities are built around the need to strengthen and guard the firm from the many risks we face, financial rigor, risk discipline, fostering a transparent culture and doing the right thing in every situation. We are equally focused on nurturing talent, respecting the diverse experiences that our team of Risk professionals bring and embracing an inclusive environment.
The Underwriting Associate on the Community Development Banking (CDB) Intermediaries Lending (IL) team plays an integral role in the bank’s Community Reinvestment Act (CRA) mission and of providing credit to the strongest Community Development Finance Institutions (CDFIs) in the country. The CDB IL business primarily involves the provision of credit to CDFIs, who then aggregate our capital with other sources and on-lend them to developers of affordable housing; charter schools; health centers and other community facilities. The underwriter will have multiple responsibilities, which include preparation and presentation of credit approval packages, account management, and portfolio management. The Underwriting Associate will support two IL Bankers in various tasks to prepare credit approval memos, manage portfolio accounts and manage our on-going client relationships.
In preparation of credit approval packages, an underwriter reviews a CDFI’s audited financial statements and portfolio quality to assess its current strength and provides a summary of the organization’s current management, lending strategy and overall outlook. To aid in this, the Underwriting Associate will work closely with the IL Bankers, and will be expected to engage directly with CDFI project-level and executive staff. The Underwriter will be challenged to identify the key credit risks and communicate them in a clear and succinct summary memo. The Underwriter’s responsibilities will also include assignment of risk ratings; on-going regulatory compliance; and participation in the closing/documentation process on new loans.
There are also frequently opportunities for the Underwriting Associate to work across business lines, including working with our philanthropy team in Corporate Responsibility, affordable housing underwriting and New Markets Tax Credits. Examples of previous cross-line collaboration include playing a lead role in developing the Chase Detroit Initiative and, based on its success, the replication and expansion of the program through the Advancing Cities initiative.
Credit/Lending Experience: Minimum of three years in a commercial real estate credit or lending function with experience structuring complex transactions; Knowledge of CDFIs and experience with their different programmatic lending areas (charter schools, health centers, grocery) is a plus.
Knowledge/Education: BA/BS or Masters, with concentration in urban policy or management and/or accounting/finance/economics. Other plusses are successful completion of credit training, understanding of commercial real estate, and knowledge of Community Development financing tools including NMTCs and LIHTCs.
Skills: excellent teamwork and customer service; consistently delivering on commitments to colleagues and internal and external customers; strong analytical and project management skills with the ability to multi-task; communications skills, both written and oral; computer skills, particularly Excel and Word; ability to handle problems, be it for internal or external customers, and persist until problem is resolved; attention to detail.
To be considered for this role, you may be required to complete a video interview powered by HireVue.
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.
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