Senior Financial Analyst​/Financial Modeling – Federal P3 Program

JLL is seeking a Senior Financial Analyst to join the financial modeling function of a federal advisory program supporting Department-wide privatized military housing portfolio. This is a hands-on, build-and-run modeling and program advisory role consisting of constructing, maintaining, and stress-testing financial models that underpin restructure, recapitalization, and new development analyses across a multibillion-dollar public-private partnership portfolio. You will work under the direction of the program's senior transactions and federal financial management advisors, translating deal structures and analytical questions into rigorous, well-documented models that senior government decision-makers rely on before public funds are committed.

The role suits a strong analyst who wants deep exposure to complex real estate capital structures and public-sector deal-making.

• Build and maintain project-level financial models for real estate restructure, recapitalization, and development transactions, including debt and equity waterfalls, coverage and reserve tests, refinancing analyses, and returns
• Construct sensitivity and scenario layers that test alternative capital structures, funding sources, and operating assumptions, and present results in a form senior decision-makers can act on
• Validate and reconcile third-party models and financial submissions, identify assumption gaps and errors, and document findings
• Maintain the program's assumption library, standardized model templates, and version control so that analysis is consistent, traceable, and auditable across transactions
• Apply disciplined QA/QC to your own and others' work: model integrity checks, source documentation, and clear change logs
• Provide analytical support to portfolio-level performance reporting and key performance indicator frameworks
• Prepare model outputs, charts, and supporting exhibits for decision memoranda, briefings, and client deliverables
• Work as part of a multidisciplinary team of transaction, credit, policy, and development specialists, and communicate model mechanics and results clearly to non-modelers

• Bachelor's degree in finance, real estate, economics, accounting, engineering, or a related quantitative field
• 3+ years of financial modeling experience in real estate, infrastructure, project finance, or a closely related field; exceptional candidates with fewer years considered
• Demonstrated ability to build complex, multi-tab Excel models from scratch, including debt and equity waterfalls, DSCR and reserve mechanics, refinancing and sensitivity analyses
• US citizenship
• Ability to obtain a DoD Secret clearance
• Strong understanding of real estate finance fundamentals: capital stacks, debt sizing and pricing, cash flow projections, and returns analysis
• Rigorous attention to detail and a habit of documenting assumptions, sources, and changes
• Ability to explain model logic and results clearly, in writing and in conversation, to senior audiences who are not modelers

• Prior DoD clearance eligibility
• Experience with public-private partnerships, project finance, federal advisory work, or military housing / MHPI is a meaningful advantage but not required
• Expert-level Excel; experience with VBA, Python, or similar tools for model automation and data handling is a plus

Based in Washington DC (hybrid with regular presence at JLL offices and client sites as program needs require)

The Military Housing Privatization Initiative (MHPI) is one of the largest public-private partnership real estate programs in the United States: a portfolio of roughly $32 billion in privatized family and unaccompanied housing spanning 87 projects at approximately 150 military installations. The Office of the Deputy Assistant Secretary of War for Housing (ODASW(H)) oversees the program and has shifted from passive portfolio oversight to active investment management, with a live pipeline of project restructures, recapitalizations, and new unaccompanied housing development, each requiring a capital-structure optimization strategy before public funds are committed.

JLL serves as the principal advisory team to ODASW(H), providing program management and advisory support across the full spectrum of MHPI oversight. The financial modeling function sits at the center of the program's transactions advisory workflow: it…