Sr. Manager, CPACE Credit and Underwriting

Nuveen Investments

Darien, CT 06820

Posted 1 month ago

Job Description

Nuveen Green Capital (formerly Greenworks Lending) is a rapidly growing Nuveen affiliate 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.


The Credit Senior Manager plays a key role in building NGC’s balance sheet by supporting origination team’s credit reviews of complex commercial real estate investments. The Credit Senior Manager is tasked with ensuring originations fit credit and balance sheet requirements and will perform in line with our portfolio expectations. This role offers a unique opportunity to work in a passionate, quickly-growing, powerfully-resourced, and sustainability-focused commercial real estate lending company. A successful candidate will have deep experience underwriting or otherwise working closely on CRE development projects and


**Key Duties and Responsibilities**


• Serve in a credit approval and advisory capacity on a broad range of C-PACE loans for the Origination Team.


• Where possible, creatively identify and support execution of credit solutions for deals outside of NGC’s standard credit box.


• Work one-on-one with Transaction Managers on complex deals, providing training and improving their underwriting knowledge.


• Lead underwriting trainings and resource creation to support rapidly expanding Originations team.


• Lead research into special topics in CRE construction lending as they apply to C-PACE, culminating in underwriting guideline change recommendations.


• Lead research and development of guidelines related to new products.


**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:**


+ 3+ 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)


+ Experience with many or 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, builder’s 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)


\#LI-AN1


Potential Salary: $103,500.00 USD


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 location. In 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).


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**Company Overview**


Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information about the firm please visit our website at www.Nuveen.com


**COVID-19 Vaccination**


TIAA requires all U.S. employees to be fully vaccinated against COVID-19 and provide documentation of full vaccination, unless you qualify for an accommodation as determined by TIAA consistent with applicable law.


**Benefits and Total Rewards**


The organization is committed to making financial well-being possible for its clients, and is equally committed to the well-being of our associates. That’s why we offer a comprehensive Total Rewards package designed to make a positive difference in the lives of our associates and their loved ones. Our benefits include a superior retirement program and highly competitive health, wellness and work life offerings that can help you achieve and maintain your best possible physical, emotional and financial well-being. To learn more about your benefits, please review our Benefits Summary (https://www.tiaa.org/public/pdf/benefits-at-a-glance.pdf) .


**Equal Opportunity**


We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.


Read more about the Equal Opportunity Law here (https://www.dol.gov/general/topics/posters) .


**Accessibility Support**


TIAA offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities.


If you are a U.S. applicant and desire a reasonable accommodation to complete a job application please use one of the below options to contact our accessibility support team:


Phone: (800) 842-2755


Email: accessibility.support@tiaa.org


**Privacy Notices**


For Applicants of TIAA, Nuveen and Affiliates residing in US (other than California), click here (https://www.tiaa.org/public/tiaa-nuveen-privacy) .


For Applicants of TIAA, Nuveen and Affiliates residing in California, please click here (https://www.tiaa.org/public/tiaa-nuveen-ca-privacy) .


For Applicants of Nuveen residing in Europe and APAC, please click here (https://www.tiaa.org/public/nuveen-eu-uk-privacy) .


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