Real Estate Relationship Manager
Working for a global leader in banking, Wells Fargo & Company is one of the world's largest banks and employs more than 270,000 people worldwide. Our international business activities truly span the globe, with our coast-to-coast U.S. presence, overseas offices in strategic locations and technology platforms, we provide our clients the direct and on-the-ground support they need to effectively manage all their global business in 130 countries.
The Well Fargo Commercial Real Estate division has consistently outperformed its competitors thereby taking a leading market share in the US. In the UK, a team of around 50 people are focused solely on real estate, and the business is establishing itself as the premier provider of finance for the UK institutional market.
The team use innovative and often complex debt structures to support investors in the UK and Irish markets. The lending mandate is broad, so whilst there is a focus on core commercial sectors of office, retail and industrial, a Relationship Manager will gain exposure to a wide spectrum of asset classes and lending structures including both development and investment lending. Typical deal sizes average £50 - £150 million but transactions may be significantly in excess of these amounts. The UK loan book currently exceeds U$10BN.
Clients are both domestic and global and cover a broad range of investor types, including REITs, institutional fund managers, Sovereign Wealth Funds and large private property companies. The role will involve a particular focus on the US Private Equity sector as well as Canadian investors assisting the Bank as it broadens its coverage of these companies.
The primary responsibilities of the Relationship Manager role will be to assist in:
Sourcing, evaluating, structuring and executing new financing opportunities for the Bank in the UK commercial real estate market
Managing both existing and target new client relationships
Managing an assigned portfolio of loans throughout the loan lifecycle
- Originating, underwriting & structuring loans for investment or development opportunities on single assets, portfolios or fund level finance;
- Evaluating new lending opportunities and undertaking risk analysis:
- Running cash flow models to scrutinize income, debt serviceability and other key loan metrics;
- Evaluating creditworthiness of counterparties, tenant credit strength and property fundamentals;
- Running internal pricing or credit rating models, as applicable;
- Preparing recommendations for senior management;
- Drafting heads of terms documents and negotiating commercial clauses;
- Preparing and presenting memorandums to credit teams and senior management;
- Managing all parties involved in the deal closing process to ensure effective loan execution; specific responsibility for all facility documentation (via external counsel), KYC clearance, CP satisfaction and completion of the formal Loan Approval Report;
- Closely monitoring an assigned portfolio of accounts, including producing quarterly reporting on loan risk metrics;
Market Skills and Certifications
To be considered will be/have;
- A degree or post graduate study
- real estate, asset backed lending, or other relevant credit / deal structuring experience
- track record in the execution and negotiation of legal documentation
- strong cash flow, credit analysis & modelling skills
- commercial and business acumen
- strong client relationship skills, professional persona
- self-motivated, takes initiative on transactions & activities whilst also being a strong team player.
Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
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