Global Markets Division, Real Estate Loan Construction Expert, London
Location: London, United Kingdom
Type: Full Time
Internal Number: 14377976
GLOBAL MARKETS Goldman Sachs' Global Markets Division makes markets in and clear client transactions on major stock, options and futures exchanges worldwide. Through our global sales force, we maintain relationships with our clients, receiving orders and distributing investment research, trading ideas, market information and analysis. Our core value is building strong relationships with our institutional clients, which include corporations, financial service providers, and fund managers. We help them buy and sell financial products on exchanges around the world, raise funding, and manage risk. This is a dynamic, entrepreneurial team with a passion for the markets, with individuals who thrive in fast-paced, changing environments and are energized by a bustling trading floor. RESPONSIBILITIES AND QUALIFICATIONS
The Transaction Management and Monitoring (TMM) team is a business unit within the Global Markets division, primarily working with the Asset Financing & Trading and Investment Banking groups across EMEA & APAC. The team is a multi-faceted diligence and asset management platform specialising in whole loan acquisition, sales, securitizations, and financing opportunities. The TMM team has product expertise across mortgages, consumer loans, real estate/warehouse financing. TMM is seeking an Associate to join their asset management function in London and focus on the monitoring of EMEA development loans. The Associate will be primarily responsible for managing the risk of financings backed by construction/ development projects but also other Commercial Real Estate loans across all asset classes including: hotel, office, retail, data centre, industrial, and multifamily. Responsibilities
Manage a large portfolio of projects simultaneously across multiple project types and jurisdictions.
Visit sites on a regular basis and meet with the development team to discuss progress and timing along with potential risks.
Challenge borrower and development team on budget, timing, contracts, insurances, operating partners...
Evaluate and monitor risks in underlying construction project by reviewing technical data to identify potential construction risks and impact on financings (Cost Overrun, covenants, default...).
Review and approve construction monitoring reports and loan utilisation requests for adequacy, potential issues and to verify there are sufficient funds remaining in the budget to complete the project.
Provide regular project updates to investment and asset management teams and reporting on the performance of operating partners. Present to committee assessment of deal performance and possible issues.
Potential to expand responsibilities to perform Asset Management duties for other financing types such as acquisition loans, warehouse facilities, NPL, Loan-on-Loan,...
Minimum 5+ years of relevant experience gained at a construction management consulting company, project monitor, real-estate developer, real-estate investment fund, etc.
BSc Degree in engineering, architecture, building surveying, quantity surveying or related field.
Ideally qualified as a Chartered Building/Quantity Surveyor.
Preferably having experience of undertaking Project Monitoring services for large construction projects/developments across a variety of sectors within the UK.
Possess excellent time management/organizational skills with a keen eye toward attention to detail; must have ability to handle a high-stress, fast-paced environment, and aggressive deadlines with minimum supervision; successfully meet established project requirements and deadlines; must have ability to work independently and multi-task.
Strong ability to organize, analyse and interpret legal and compliance related materials.
Independent thinker who will be proactive, vocal and professional in dealings with internal/external clients, third-party vendor partners, internal teams, and senior managers; be able to work at the detail level while managing account relationships.
Must have ability to travel and work extended hours (and occasional weekends) as needed.
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