Commercial Real Estate Analyst
We are looking for final year students to join our UK Commercial Real Estate graduate programme which will start in Sept 2017. The successful candidates will be working in a front office function focused on the origination, execution and ongoing management/monitoring of real estate lending transactions.
Wells Fargo & Company is one of the world’s largest banks and employs more than 270,000 people worldwide. Our international business activities span the globe, with our coast-to-coast U.S. presence, overseas offices in strategic locations and technology platforms, we provide our clients the direct and on-the-ground support they need to effectively manage all their global business in 130 countries.
The Well Fargo Commercial Real Estate division has consistently outperformed its competitors thereby taking a leading market share in the US. In the UK, following a recent period of expansion including the acquisition of a UK real estate platform, the team is seeking to establish itself as the premier provider of real estate finance for the UK institutional market.
The UK CRE team use innovative and often complex debt structures to support investors across a wide spectrum of real estate assets located within the UK and Ireland. There is a focus on the core commercial asset classes of office, retail and industrial, however the business’s mandate is broad, so analysts will gain exposure to a range of sectors and lending structures. Clients are both UK and internationally based with a particular focus on the US, and include some of the sectors best known UK Real Estate Investment Trusts (REITs), fund managers and large private property companies. Typical deal sizes average £50 - £75 million and the team completed £5.5 billion of new business in 2015.
The successful candidates will be working with the UK Commercial Real Estate team from day one based in their office in Covent Garden, London. Primary functions/responsibilities will include:
- Financial and cashflow analysis to assess and quantify key risks in new lending opportunities.
- Analysis of the financial creditworthiness of companies. Often these will be tenants and borrowers.
- Monitor and analyze conditions in specific real estate market sectors or locations by drawing on both the internal research team’s opinions and external market research commentary/data.
- Preparation of deal summary memorandums to assist in pitching new opportunities to relevant credit and senior business side.
- Running internal models to assess transaction profitability and risk ratings.
- Preparing ongoing loan monitoring reports on a periodic basis.
- Helping new business origination by creating deal pitch documents.
- Attending site visits and client meetings.
- Perform additional duties and/or project work as assigned.
In addition to the day-to-day role of supporting the team, you will commence a three year graduate training course known as the Financial Analyst Programme (“FAP”). The FAP is attended by approximately 200 Wells Fargo graduate analysts each year joining the Wholesale side of the bank from across the US and globally. It offers a broad financial analyst education which is not real estate specific however most of the skills and knowledge you will acquire will be applicable in your everyday role. The training itself will be completed via a syllabus of online modules but will also include one week of every year spent in the US undertaking classroom training alongside fellow FAPs from across Wells Fargo’s global offices. Whilst your primary focus in the bank will be supporting the real estate team, the FAP will give you a chance to interact with analysts from across the spectrum of wholesale banking products that Wells Fargo offers and will broaden your understanding of the financial services sector.
A successful candidate must:
- Have achieved at least a 2:1.
- A Masters or higher level degree will be considered an advantage but is not essential.
- Have at least a basic grasp of Microsoft Excel.
- Have an understanding of the industry with a real interest to learn more.
- Possess good mathematical and written communication skills.
- Be capable of managing their own time and workload.
- Have strong interpersonal skills and the ability to communicate effectively with clients and colleagues alike.
- Possess the ability to digest a range of information into succinct reports.
- Demonstrate the ability to adapt to numerous roles.
- Be able to work under pressure to complete tight deadlines.
FAP modules will include accounting fundamentals, advanced risk analysis and an introduction to capital markets. You will be mentored by a senior team member throughout your time on the FAP.
You will also be provided with more specific training relating to your role in the real estate business both online and in the office.
It is expected that analysts will balance their training with their primary function of assisting the real estate team and successful candidates will be working on live transactions from the outset.
Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.