Associate, Underwriting

Associate, Underwriting

Bellwether is a global advisory firm that helps businesses solve their most complex challenges and enhance enterprise value. We specialize in formulating and executing dynamic growth strategies through true partnership with our clients. Merging deep industry expertise, advanced analytical capabilities and best-in-class talent, we create value across the business lifecycle, from transaction management to operational transformation. Bellwether specializes in the management, analysis, and reporting of over $40 billion of AUM across a wide range of real estate related assets and corporate platforms in North America, Europe and Asia. Bellwether is privately held and has offices in Los Angeles, Newport Beach, Salt Lake City, London and Dallas.

The Associate, Underwriting will be responsible for assisting with all aspects of originating and structuring complex commercial real estate investments, including stretch senior mortgages, mezzanine loans, preferred equity, and common equity. This role will take investments from initial inquiry through term sheet and collaborate with the underwriting team through the full due diligence and closing of the investments.

Key Responsibilities

• Lead the analysis, underwriting and structuring of new investments;
• Size and price investments with structural features;
• Participate in negotiations of term sheets and loan documents;
• Coordinate the due diligence process including managing third-party service providers such as appraisers, engineers, consultants, etc., and conduct critical review and analysis of all third-party reports;
• Identify potential risks and challenges associated with a transaction and provide ideas for solutions and risk mitigants;
• Gather, analyze and interpret real estate market data/trends and financial information;
• Prepare and present final due diligence findings to Investment Committee;
• Conduct comprehensive site inspections, including sale and rent comparable properties;
• Execute and oversee the closing process of transactions;
• Underwrite all asset classes using Excel-based underwriting models, including complex cash flow, DCF, IRR and fund/partnership waterfall modeling;
• Build Excel models from scratch for ad-hoc analysis;
• Maintain and analyze budgets, prepare periodic reports that compare budget to actual;
• Lead transition meetings between deal teams and asset management teams to effectively onboard each new asset or financing; and
• Maintain strong relationships with external auditors and internal partners.

• People Management Responsibilities:
• Involved with staff selection, interviewing and training as needed;
• Oversee the day-to-day workload and performance of direct reports, providing clear direction and support as needed to achieve work objectives;
• Ensure that direct reports understand their duties and delegated tasks;
• Monitor performance and development of direct reports and provide constructive and timely feedback and coaching;
• Work with direct reports to set individual goals and deadlines and conduct regular performance reviews aligned with performance review process; and
• Handle discipline of employees in accordance with company policy.

Professional Experience

• A minimum of 3 years of relevant experience
• Highly proficient in Microsoft Excel and PowerPoint
• Highly proficient in ARGUS

Education/Certification

• Bachelor's degree required

Essential Skills & Competencies

• Bellwether seeks to hire entrepreneurial individuals who are highly motivated, mature and intelligent, with demonstrated excellence in prior endeavors. The successful candidate should have

• Job Knowledge & Technical Ability: Experience with portfolio and asset-level underwriting using advanced financial modeling. Have a strong understanding of property-level and fund-level metrics to help drive decision-making. Have a strong understanding of macro-trends that could potentially impact investment-level decisions. Have strong review skills when looking at Excel-based underwriting models and written work products.
• Initiative & Dependability: Ability to perform responsibilities independently and proactively, solve problems, and improve processes and/or services. Self-directed, takes initiative and responsibility, ensures completion of tasks.
• Communication: Excellent verbal and written communication skills; strong listening and interpersonal skills. Highly effective at preparing and presenting information both internally and externally to clients.
• Professionalism & Teamwork: Acts with honesty and integrity and maintains confidentiality, adheres to company policies. Promotes a collaborative and productive work environment. Demonstrates team building, support and respect.

Travel Requirements

• Local and/or nationwide travel to assets and client sites required on an as-needed basis, approximately 1-2 times per quarter depending on investments.

Position Details

• Classification: Exempt
• Position Status: Regular, Full Time
• Reports To: Vice President or Senior Vice President
• Direct Reports: Yes

Physical and Mental Demands

• While performing the duties of this job, the employee is regularly required to stand, sit, and walk. Must be able to sit at an office workstation for an extended period of time. May need to reach, stoop, or kneel to access items.
• Must be able to talk, hear and use wrists, hands and/or fingers frequently and repetitively to operate a computer, telephone and other office productivity machinery.
• Must frequently prepare or inspect documents, and convey details or important instructions or ideas accurately, loudly, or quickly.
• Ability to work independently, and prioritize duties to ensure timely completion. The ability to collaborate is also imperative.
• Requires active listening, critical thinking, making decisions, time management, as well as administration skills.
• Ability to interact in a courteous professional manner at all times.
• Regular, predictable attendance is required.
• The physical and mental demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions.

Work Environment

• No hazardous or significantly unpleasant conditions (such as in a typical office).
• Moderate noise (i.e., business office with computers, phones, printers and light traffic)
• Indoor business office environment with windows; light foot traffic within work areas
• The work environment characteristics described here are representative of those a teammate encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Benefits

• We offer a comprehensive benefits package that includes:
• Employer-paid Medical, Dental & Vision, with buy-up options available
• Flexible Spending Account, Health Savings Account
• Carrot Fertility Benefit - $10,000 lifetime benefit
• 401k company match 4%, immediately vested
• Generous PTO, 11 Paid Company Holidays & Paid Holiday Office Closure
• 14 weeks Maternity Leave & 12 weeks Parental Leave
• Wellbeing program offerings
• Cell phone reimbursement
• Engaging team events & holiday parties

$120,000 - $130,000 a year $120,000 - 130,000 base, plus discretionary bonus Offered salary is based on a variety of factors, including skills, experience, and qualifications for the role.

Intent of Position Description

This position description describes the general nature and level of work required by the position. It is not intended to be an all-inclusive list of qualifications, skills, duties, responsibilities or working conditions of the job. The job description is subject to change with or without notice, and Management reserves the right to add, modify or remove any qualification or duty. Nothing in this job description changes the existing at-will employment relationship between the Company and the employee occupying the position.

Equal Opportunity Employer

Bellwether is an equal-opportunity employer. Bellwether complies with all federal, state, and local laws providing equal employment opportunities, and all other employment laws and regulations. All qualified applicants are considered for employment without regard to an individual's race, color, religion, religious creed, national origin, ancestry, citizenship, physical or mental disability, medical condition (including cancer and genetic characteristics), genetic information, marital status, reproductive health decision-making, sex, gender (