Join the Community Development Banking Team at J.P. Morgan Chase
Are you passionate about making a difference in communities across the nation? If you have a keen interest in finance and a heart for service, J.P. Morgan Chase invites you to become an integral part of their Community Development Banking (CDB) team. This opportunity provides a platform to support vibrant and diverse neighborhoods by providing loans, investments, and services for low- and moderate-income households and communities nationwide.
A National Leader in Community Development Finance
J.P. Morgan Chase is not just any financial institution; it is a national leader in community development finance for affordable housing and economic development projects. Its Community Development Banking (CDB) business has, over the years, provided financing for projects of varying scales and complexity levels. This includes construction financing, bridge loans, acquisition loans, and letters of credit to support bond transactions. Moreover, they offer long-term permanent financing for Low Income Housing Tax Credit (LIHTC) developments and bond purchases.
The CDB client base is extensive, ranging from for-profit and not-for-profit developers, government entities, to community-based organizations. This wide range of clients is a testament to J.P. Morgan Chase’s commitment to inclusivity and diversity in its operations.
Role of a Community Development Banking Associate
As a Community Development Banking Associate within the Commercial Real Estate team, you will play a vital role in supporting and assisting in the underwriting and approval process for acquisition, construction, and/or permanent loans. This will involve working closely with senior banker colleagues. The position reports to a CDB Banker and offers support to all members of the Tampa team.
Job Responsibilities
The role is quite engaging, with a variety of responsibilities. You will work with Originating Bankers to gather project documentation, prepare credit committee pitch packages, Letters of Interest, and Term Sheets. You will be required to analyze and adjust development budgets, operating statements, rent schedules, and construction flow of funds. Additionally, you will collaborate with underwriters through the credit approval process, which includes closing calls, due diligence collection, and internal reporting.
Furthermore, you will review legal documentation prior to closing for accuracy and consistency with credit approval terms. This position also offers the opportunity to engage directly with clients during meetings/calls related to financings and to attend JPM Chase and industry events. Finally, you will monitor construction progress, including draw requests, funding adequacy, time delays, cost overruns, contingency fund usage, and compliance with loan documents.
Required Qualifications, Skills, and Capabilities
The ideal candidate for this position should have over 2.5 years’ experience in financing commercial real estate transactions, including mixed income and affordable housing development projects. Familiarity with Federal, State, and Local Affordable Housing/LIHTC financing programs is a must. A BA/BS degree, strong interpersonal skills for client and stakeholder interaction, excellent written and verbal communication skills, and proficiency in MS Word, Excel, PowerPoint, and Outlook are also required. The role may require limited travel, occasionally overnight.
Preferred qualifications, skills, and capabilities include formal bank credit training and knowledge of standard bank credit policies and loan administration procedures.
This position is subject to Section 19 of the Federal Deposit Insurance Act. An employment offer for this position is contingent on JPMorganChase’s review of criminal conviction history, including pretrial diversions or program entries.
About JPMorgan Chase & Co.
Established over 200 years ago, JPMorgan Chase is one of the oldest financial institutions. It offers innovative financial solutions to millions of consumers, small businesses, and many of the world’s most prominent corporate, institutional, and government clients under the J.P. Morgan and Chase brands. JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans.
About the Team
J.P. Morgan’s Commercial & Investment Bank is a global leader across banking, markets, securities services, and payments. It is trusted by corporations, governments, and institutions throughout the world, making it a great platform for professionals looking to make a significant impact in the financial sector.
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