This job board retrieves part of its jobs from: Toronto Jobs | Emplois Montréal | IT Jobs Canada

Find a job in the Great State of New York!

To post a job, login or create an account |  Post a Job

CRE Underwriter Credit Manager

Greenworks Lending

This is a Full-time position in New York, NY posted December 21, 2021.

About Greenworks Lending

Greenworks Lending is a rapidly growing company with the goal of changing how our country’s buildings produce and use energy.

We finance clean energy retrofits and clean new construction on commercial building through an innovative public-private financing structure called C-PACE (Commercial Property Assessed Clean Energy).

C-PACE is rapidly gaining traction among real estate owners and developers who are incorporating this specialty financing into their capital stacks.

Greenworks Lending is the nation’s leading C-PACE provider.

We operate nationally and have offices in Darien, CT (HQ), New York, NY, Bethesda, MD and San Francisco, CA.

Role Summary:

The Credit Manager plays a key role in building Greenworks’ balance sheet by partnering with deal teams to grow originations of CPACE assets that fit our balance sheet requirements and managing the checks and balances for Greenworks’ balance sheet to grow sustainably.

Key Responsibilities:
Perform credit pre-approvals and final approvals up to authorized limits.
Set clear expectations with deal teams around underwriting requirements and exception approvals as early as possible.
Assist VP of Credit with underwriting training across rapidly expanding deal team.
(Review credit memos for accuracy and risk; provide constructive feedback on credit analysis and memo writing to underwriters.)
Serve in an advisory capacity answering questions regarding credit requirements and creating a path to close for deals that fall outside of Greenworks standard credit box.
Pitch in with as-needed deep dives on tricky credits, working to quickly come up to speed on the deal, research/understand the risk, and create a solution.
Run CoStar reports and advise on market dynamics
Perform early stage new development deal reviews for deal teams that lack capacity.
Assist VP of Credit with research into special topics in CRE construction lending, culminating in underwriting guideline change recommendations.
Assist VP of Credit with quarterly portfolio reporting.


All candidates should have 3+ years of related experience.

They should have a proven track record of meeting and exceeding goals.

Top candidates will have the following characteristics:
Bachelor’s degree or 4+ years related professional experience equivalent.

Graduate degree in a related field is a plus.
3-7 years’ work experience, ideally in commercial real estate with at least one year’s experience in a role focused on real estate risk and decision making, e.g.

underwriting, acquisitions, lending.
Intrinsic curiosity and passion for real estate
Ability to weigh multiple types of risks: business risk, short term asset risk (cash flow), and long term asset risk.
Experience with at least several and familiarity with a majority 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, builder’s risk insurance, earthquake/flood/fire risk
Real Estate Law: title reviews and common encumbrances, background searches
Environmental Risks in real estate
Special Use Properties such as greenhouses, churches, theme parks, etc.
CRE Document Review: loan documents, lease documents, organizational documents, ownership waterfalls, guarantees, management agreements, property improvement plans (PIPs), franchise agreements
Exceptional problem-solving skills; ability to think strategically and creatively
Excellent written and verbal interpersonal skills; ability to engage with internal and external stakeholders
Ability to self-manage a large volume of tasks and ability respond to changes in priority
Strong organizational and analytical skills; attention to detail
High degree of integrity, self-motivated and self-directed

Competitive salary and performance based bonus
Paid time off; health care, dental, vision, FSA, commuter benefits, 401K
Social activities and a flexible schedule/work life balance philosophy
This is an excellent opportunity for motivated individuals to gain broad commercial real estate experience and grow with a rapidly expanding company.

Greenworks Lending is an Equal Opportunity Employer.

Employment decisions are made without regard to race, color, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability, protected veteran status or other characteristics protected by law.