Credit Risk CRE Lending – Associate
- London, England, United Kingdom
- Permanent, Full time
- Morgan Stanley
- 25 Feb 18 2018-02-25
See job description for details
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.
As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
The cornerstone of Morgan Stanley's risk management philosophy is the execution of risk-adjusted returns through prudent risk-taking that protects Morgan Stanley's capital base and franchise. Risk Management protects the Firm from exposure to losses resulting from defaults by our lending and trading counterparties.
Credit Risk Management (CRM) evaluates credit risk transactions and approves rejects or modifies them considering the availability and appropriateness of arrangements for reducing risk or risk mitigation. The department also assigns Internal Credit Ratings; establishes and manages credit risk limits in accordance with the risk tolerance established by the Board; monitors and reports on credit risk exposures on a regular basis to the Chief Risk Officer and senior management. CRM also interacts with business units to ensure that credit risk assessments are factored into business decisions.
This is a multi-faceted role which will support senior team members with Commercial Real Estate (“CRE”) transactions including both direct CRE-secured lending and CRE Warehouse transactions. The principal responsibilities include assisting on the evaluation of new transactions, managing a rapidly growing portfolio of existing loans, monitoring ongoing syndication activities together with the front office, and determining slotting scores for UK capital reporting. Fulfillment of these responsibilities involves:
• Assess new CRE transactions both direct lending as well as warehouse. This includes an independent assessment and recommendation on the credit quality of proposed transactions including rating and credit appetite
• Monitor existing portfolio of CRE transactions including periodic reporting of risk profiles, trends, and concentrations
• Review and verification of compliance certificates, debt covenants, and financial accounts
• Prepare timely and insightful annual reviews including assessment of performance against underwritten base case projections and key CRE metrics
• Assess progress of syndication efforts against Credit Committee approved timelines and prepare regular presentations for senior Credit management
• Prepare an independent assessment and recommendation on the credit quality of proposed transactions including proposed rating and credit appetite
• Collaborate with origination teams on structuring and documentation for proposed transactions
• Review of due diligence and involvement in due diligence sessions including asset site visits
• Calculate and periodically re-assess key inputs for capital calculations using the UK PRA Slotting Methodology
• Be the first point of call regarding credit-related matters for your portfolio
• Ensure adherence to credit and other relevant internal policies and practices
Skills required (essential)
• Strong academic background, including an advanced degree or equivalent.
• Direct commercial real estate risk management experience
• A background in risk management, investment banking, PE, or advisory in the Real Estate space is preferred.
• Good understanding of the key drivers of the EMEA CRE market and experience in underwriting CRE transactions
• Solid knowledge of typical transaction structures, documentation, and the lending process
• Strong credit, analytical, and modelling skills (particularly with Excel)
• Excellent written and verbal communication skills with ability to quickly establish credibility with Credit senior management and senior deal team executives
• Demonstrable track record of working under pressure and managing multiple projects with limited supervision
• Knowledge of basic accounting and financial concepts with a sound ability to analyse businesses
• Strong team player able to work effectively in a team environment
• Additional European language skills are an advantage but not essential
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents. *LI-CL1