Commercial Real Estate Analyst

The Commercial Real Estate Analyst (“CRE Analyst”) is primarily responsible for the review of commercial real estate loans and residential income property loans pledged to the Bank to secure extensions of credit. The CRE Analyst will conduct reviews to verify the existence, eligibility, and quality of collateral, and overall compliance with the Bank’s Product and Solutions Guide. The CRE Analyst will provide an overall assessment of the risk profile of the pledged collateral, including a risk assessment of the member’s underwriting policies. The CRE Analyst’s underwriting and analytical expertise is vital to the completion of these tasks. The CRE Analyst must be able to work independently with minimal supervision.

The CRE Analyst will maintain files documented in accordance with Bank standards for all member loan reviews at a level sufficient to allow third-party reviewers to understand the Analyst’s rationale for all decisions made and conclusions reached during the review. In addition, the CRE Analyst will maintain review results tracking reports on all commercial real estate and residential income property loans accepted by the Bank as collateral to secure extensions of credit.

The review of loan files will generally take place on the member’s premises, primarily in the New England area (approximately 65% overnight travel required). For loans accepted, the Analyst will coordinate the submission of the required loan information to the Bank. The CRE Analyst will also be responsible for providing senior management at member institutions with information regarding the Bank’s collateral policies and procedures. If necessary, the incumbent will assist with “workout” situations involving loan collateral and will assist the collateral staff in taking possession of collateral in preparation for potential liquidation in an expeditious manner.

The CRE Analyst will process loan review files into the Bank’s collateral system and complete loan file reviews using the Bank’s loan review software. The CRE Analyst will also assist with the addition of listed loan collateral to the Bank’s collateral system. As part of this process, the CRE Analyst will communicate with member institutions, as necessary, to resolve any issues or problems related to the collateral additions and updates.

The CRE Analyst will also function as a primary resource in research projects involving real estate lending, especially involving multifamily loans and commercial real estate loans. In addition, the CRE Analyst will assist in the review and evaluation process regarding the eligibility of other loan types accepted as collateral by the Bank to secure outstanding advances. The Analyst will also complete additional tasks as assigned by the Collateral Review Manager.

Specific Responsibilities

• Assist the AVP/ Member Collateral Review in the development and maintenance of up-to-date policies and procedures for the review, valuation and acceptance of commercial real estate loans and residential income property loans as qualified collateral to secure extensions of credit. Carry out these procedures in a manner consistent with accepted loan valuation and appraisal techniques for residential, commercial, and industrial real estate collateral. Manage the workout process and preparation of collateral loans for liquidation when and if necessary.
• Perform member collateral reviews of commercial real estate and residential income property loan collateral pledged to the Bank to secure extensions of credit. Conduct reviews to verify the existence and eligibility of pledged collateral, and to determine overall compliance with the Bank’s Products and Solutions Guide collateral requirements. Based on these reviews, make recommendations to the Collateral Review Manager regarding members’ pledged collateral.
• Understanding of the Bank’s systems to complete loan reviews using the Bank’s loan review software and assist members with loan file issues and loan reject reports.
• Ensure that files are documented in accordance with Bank standards and maintained for all field reviews. The level of documentation in the file must be sufficient to allow third-party reviewers to understand the rationale for all decisions made and conclusions reached by the Analyst during the review.
• Process listed loan collateral additions and deletions to the collateral database. Verify that the member has sufficient collateral prior to processing any request to release collateral.
• Analyze quarterly updates of loan collateral listed with the Bank to ensure its eligibility, accuracy, payment status, and formatting prior to updating the loan information to the collateral database.
• Act as a primary resource to the Bank in research projects involving commercial real estate and residential income property loans. The CRE Analyst’s underwriting and analytical expertise is vital to the successful completion of these research projects.
• Assist in other collateral related duties, as assigned.

Knowledge/Skills

• Thorough understanding of commercial real estate loan underwriting requirements required; including but not limited to conducting financial analysis including cash flow projections, debt service coverage ratios, loan-to-value ratios, and borrower creditworthiness.
• Excellent organizational and time management skills required as office time is limited.
• Attention to detail; must have a commitment to accuracy, striving for an error-free environment.
• Real estate valuation and appraisal or appraisal review experience.
• Well-developed interpersonal skills required. High confidence interacting with senior management of member institutions.
• Strong writing skills.
• Technically proficient; become adept in the use of the Bank’s loan review software soon after hire.
• Ability to work independently with minimal supervisory guidance, and to also work well on team-based projects.

Experience

• Minimum of 7 years relevant professional experience required; including about 5 years of experience in the review or underwriting of commercial real estate loans between $2MM-$20MM required.
• Experience reviewing corporate operating statements required for owner occupied CRE.
• Proficiency in Microsoft Excel and Microsoft Word required.

Consistent access to a vehicle is required to fulfill the travel requirements of this role.

The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.