Credit Analyst, Commercial Real Estate; CRE

Overview

Delphi Capital Management, Inc. (“DCM”) is a subsidiary of Tokio Marine Holdings and serves as the investment manager for its USD investment portfolios and to other global TM group companies. DCM has $60B AUM and a strong proven track record of profitable growth.

The CRE Credit Analyst will work with the Securitized Portfolio Manager in identifying and analyzing trends within the CRE Direct Lending and CMBS portfolios. This role also assists in the underwriting of potential new CRE investments and the surveillance of existing holdings.

• Develop and maintain management reports to assist with the analysis and surveillance of the existing portfolio (yields, returns, exposures)
• Compare underlying commercial loan collateral performance to initial purchase assumptions, identify variances
• Recommend securities for sale or purchase based on collateral surveillance
• Monitor and report on performance of external CMBS managers
• Monitor and report on earnings for CMBS related stock investments (Commercial Real Estate Investment Trusts)
• Assist with the annual preparation of CMBS income projections inclusion in the annual business plan
• Analyze CMBS portfolio performance versus a custom benchmark. Prepare monthly attribution of portfolio and benchmark returns
• Assist Portfolio Manager with the underwriting of potential new CMBS investments
• Assist Portfolio Manager with the underwriting of direct commercial real estate loans submitted for approval by outside investment managers
• Assist Portfolio Manager with quarterly CECL modeling for the commercial real estate loan portfolio
• Work with accounting personnel to ensure efficient use of both CMBS and direct commercial real estate loans as collateral for borrowings from the Federal Home Loan Bank

• 5-7 years of CMBS security related analysis required
• Undergraduate degree in business with emphasis on financial/security analysis
• Proficient with Excel, PowerPoint, Bloomberg, Trepp, and Co Star
• Familiarity with the calculation of cumulative expected credit loss (CECL) for commercial real estate is a plus

• Base salary starting at $200k, depending on experience
• Discretionary year-end bonus linked to performance of the investment portfolio
• Full range of benefits including medical, dental, 401(k)
• Daily meal allowance
• Hybrid workplace
• Relocation benefits not available

DCM is an equal opportunity employer. We adhere to a policy of making employment decisions without regard to race, color, religion, sex, national origin, citizenship, age or disability, or any other classification or characteristic protected by federal or state law or regulation. We assure you that your opportunity for employment depends solely on your qualifications.
Tokio Marine Holdings, Inc. is a global financial service holding company that operates a broad array of property-casualty and life insurance, reinsurance, and other financial businesses.