This list contains only the countries for which job offers have been published in the selected language (e.g., in the French version, only job offers written in French are displayed, and in the English version, only those in English).
As part of a deal team. the Commercial Real Estate Associate supports the underwriting, execution, and ongoing asset management of a diversified portfolio of CRE direct lending and structured finance, including repo, and CMBS‑related exposures. The role requires strong fundamental CRE underwriting and portfolio management capabilities, complemented by a solid understanding of structured finance products. CRE EMEA forms part of the Global Commercial Real Estate platform within the Corporate and Investment Banking Division.
Job Responsibility:
Underwrite new direct secured lending CRE loans across property types and facility types
Analyse and underwrite structured finance transactions, including repo and CMBS
Perform sponsor-, loan-, and property- financial analysis
Support deal structuring, sizing, pricing, and credit positioning
Prepare underwriting materials, credit memos, and investment committee packages
Review third-party reports
Assist in the ongoing management of a portfolio of CRE loans and CMBS-related exposures
Monitor credit performance, covenant compliance, collateral value, and sponsor strength
Review and manage quarterly waterfalls and construction draws
Support loan amendments, extensions, modifications, reserve releases, and consent requests
Prepare reporting for quarterly and annual portfolio reviews
Support securitization and structured finance activity
Assist with analysis of capital structures, bond tranching, ratings considerations, and investor requirements
Coordinate with internal structured credit, capital markets, and risk teams, as well as external parties
Work closely with bankers, senior portfolio managers, credit, legal, and operations teams to execute transactions
Interface with external sponsors, borrowers, investors and counterparties
Requirements:
Experience in commercial real estate lending, structured credit, or investment banking
Strong foundational CRE underwriting skills with exposure to cash flow modelling and credit analysis
Familiarity with structured lending concepts (repo, CMBS, securitization structures)
Advanced Excel skills
experience building and reviewing financial models
Strong written and verbal communication skills with experience preparing credit and investment materials
Nice to have:
Experience across both direct lending and structured finance transactions
Exposure to CMBS, CRE CLOs, Data Center ABS or other securitized products
Understanding of risk retention, securitization parties, and ratings agency frameworks