As part of the GIIN’s mission to accelerate the scale and effectiveness of impact investing, we publish job openings from members of the GIIN Investors’ Council and other impact investing leaders.

Underwriting Associate FlexCap / Intermediaries Lending

at JPMorgan Chase in Chicago / New York

About the Job

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

JPMorgan Chase strives to be a catalyst for meaningful, positive and sustainable change in communities across the globe. JPMorgan Chase annually invests more than $250 million to create pathways to opportunity so that individuals have access to the knowledge, skills, resources, and capital they need to secure their futures and compete in the global economy. Our programs seek to address key drivers of economic inequality experienced by vulnerable populations around the globe through four key focus areas: Community Development, Jobs and Skills, Financial Capability, and Small Business.

The Underwriting Associate on the Community Development Banking (CDB) Flex Cap/Intermediaries Lending team will support the implementation of the Flexible Capital initiative, a key component of Advancing Cities. Flexible Capital is a collaboration across JPMorgan Chase’s lines of business (LOBs) to deliver loan capital to advance inclusive economic growth in low-income communities. The firm anticipates working with Community Development Financial Institutions (“CDFIs”) whose geographic targets and missions align with the firm’s philanthropic objectives within its major markets. The Firm anticipates extending loans to such institutions on terms that are more flexible that the firm’s business units currently offer.

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 one banker in various tasks to prepare credit approval memos, manage portfolio accounts and manage 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 Flex Cap Banker, 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 participation in the closing/documentation process on new loans, on-going valuation of loans within the portfolio and regulatory compliance.

There are also frequently opportunities for the Underwriting Associate to work across business lines, including working with the CDB Intermediaries Lending team to provide credit to top-tier CDFIs, our Community Development Real Estate team to finance affordable housing and New Markets Tax Credits.

Qualifications

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 apply

Chicago: https://jobs.jpmorganchase.com/ShowJob/Id/210885/Commercial-Bank-Credit-Risk-Associate/
New York: https://jobs.jpmorganchase.com/ShowJob/Id/210884/Commercial-Bank-Credit-Risk-Associate/

JPMorgan Chase

JPMorgan Chase strives to be a catalyst for meaningful, positive and sustainable change in communities across the globe. JPMorgan Chase annually invests more than $250 million to create pathways to opportunity so that individuals have access to the knowledge, skills, resources, and capital they need to secure their futures and compete in the global economy. Our programs seek to address key drivers of economic inequality experienced by vulnerable populations around the globe through four key focus areas: Community Development, Jobs and Skills, Financial Capability, and Small Business. Please visit JPMorgan Chase & Co. Corporate Responsibility for more information.