Department

AVP, Capital Markets

Capital Markets
Posted: 01/17/2020
Full Time
Los Angeles, CA
The Debt Capital Markets Group @ CIM has five primary functions:

Internal Debt Capital Markets Authority: Serve as a firm level resource and authority with regard to matters relating to the Real Estate and general debt capital markets. In this capacity, the Debt Capital Markets team provides the Investment Group as well as other divisions within CIM with the information required to accurately underwrite and manage investments.
Relationship Management: Manage, grow, and expand the firm’s capital markets relationships to ensure we are doing the right business with the right groups and to maximize relationship synergies across capital markets partners.   
 Internal Debt Capital Markets Risk Management: Ensure all financings, where a CIM subsidiary is either the borrower or lender, adhere to the company’s financing policies and processes.
External Risk Management: Monitor key counterparties (borrowing, lending, derivatives, FOREX, etc.) to ensure CIM and it’s affiliates are aware of, and properly and promptly mitigating, potential credit issues that may interfere with our businesses.
Business Development: Identify, analyze, and model new strategic credit initiatives and business development opportunities for CIM’s various investment vehicles.  The Debt Capital Markets Group @ CIM has five primary functions:
Internal Debt Capital Markets Authority: Serve as a firm level resource and authority with regard to matters relating to the Real Estate and general debt capital markets. In this capacity, the Debt Capital Markets team provides the Investment Group as well as other divisions within CIM with the information required to accurately underwrite and manage investments.
Relationship Management: Manage, grow, and expand the firm’s capital markets relationships to ensure we are doing the right business with the right groups and to maximize relationship synergies across capital markets partners.   
 Internal Debt Capital Markets Risk Management: Ensure all financings, where a CIM subsidiary is either the borrower or lender, adhere to the company’s financing policies and processes.
External Risk Management: Monitor key counterparties (borrowing, lending, derivatives, FOREX, etc.) to ensure CIM and it’s affiliates are aware of, and properly and promptly mitigating, potential credit issues that may interfere with our businesses.
Business Development: Identify, analyze, and model new strategic credit initiatives and business development opportunities for CIM’s various investment vehicles.  
Essential Functions and Responsibilities:
  • Internal Debt Capital Markets Authority:
  • Stay abreast of current trends in the CRE and macro debt capital markets
  • Dialogue with external capital markets participants – including banks, debt funds, other real estate investors, rating agencies, brokers, lawyers, etc. – on a daily basis to stay abreast of current trends in the capital markets and spot anomalies and potential changes in sentiment.
  • Populate internal databases to capture pertinent transaction level data.
  • Communicate macro debt capital markets trends to the Investments Group & Portfolio Managers.          
  • Send periodic update e-mails to the investments group & Portfolio Oversight team communicating changes and trends in the debt capital markets.
  • Update Capital Markets Committee biweekly on the current state of the CRE debt capital markets.
  • Provide the Investments Group with financing underwriting assumptions, as well as capital/loan structure alternatives, for new transactions.  
  • Provide fund level/corporate financing assumptions, as well as capital/loan structure alternatives, to Portfolio Oversights.
  • Asset and Fund level debt sourcing & term sheet negotiation.
  • In coordination with Investments Leads, Oversights, and Portfolio Oversights determine the preferred capital structure for an individual asset or fund transaction, develop lender lists comprised of core capital markets partners best suited to the contemplated financing; distribute Financing Memorandums to senior contacts at the identified financial institutions; “push” preferred lenders to meet CIM’s financing objectives; serve as a resource to the Investments Team when developing Financing Memorandums and answering lender diligence questions; together with the investment lead, or Portfolio Manager, oversee the term sheet negotiation process to ensure consistency with CIM’s borrowing tenants & philosophy.
  • Assist in firmwide equity capital raising initiatives.
  • Participate in fund raising meetings on an as needed basis.
  • Assist in Investment opportunity sourcing by leverage Capital Markets Partners.
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  • Relationship Management:
  • Ensure that CIM and related companies have an optimal portfolio of meaningful capital markets relationships to support the current and future capital markets needs of CIM and related companies.
  • Ensure that CIM is doing the right business with the right Capital Markets partners who support the growth of CIM and related companies, and that our preferred Capital Markets partners view their relationship with CIM as mutually beneficial, reciprocal, and symmetric.   
  • Serve as a central point of contact for senior management at our capital markets partners.
  • Coordinate with other departments within CIM to ensure they are directing Capital Markets and ancillary business to our Core Capital Markets Partners.  
  • Work with senior relationship managers, and executive management, at our various capital markets partners to ensure we are benefitting from all applicable capabilities of that organization.

  • Internal Debt Capital Markets Risk Management:
  • Ensure that CIM finances its assets and funds in a consistent manner congruent with our borrowing philosophy and, to the greatest extent possible, that legal documents are consistent across transactions, lenders, funds, etc.
  • Together with the Investment Lead, Oversight, and Portfolio Oversight oversee, and manage, all term sheet negotiations.
  • Maintain a repository of “form” term sheet language for critical items that should be consistent across deals.
  • Together with legal and accounting, generate & maintain processes, policies, and procedures for loan sourcing, term sheet & loan document negotiation, derivative sourcing, loan closing, etc.

  • External Risk Management
  • Ensure that CIM is making prudent lender choices when borrowing, especially for assets with future funding components, like construction loans.
  • Before entering into a loan/derivative/credit relationship with a counterparty, diligence the financial health and prospects of that counterparty, understand syndication provisions
  • Monitor the health of individual lenders to identify and mitigate potential issues early.
  • Monitor portfolio level lender exposure to ensure funding risk is not concentrated in one or more high beta lenders.
  • Ensure loan agreements are structured in such a manner that we can exit a given financing without penalty if a major lender is likely to present counterparty risk.
  • Candidate Qualifications:
  • The AVP Capital Markets role requires someone with very strong interpersonal skills, a deep network within the CRE investment banking/lending space, strong analytical abilities, excellent written and verbal communication skills, and an unwavering work ethic.
  • This position will require significant travel, often on short notice.
  • The candidate should abe able to complete complicated tasks with minimal oversight but also function well within a team.
  • Proficient in Excel and financial modeling.
  • 5 + years of experience in real estate investment banking, finance, private equity or similar roles.
  • Undergraduate degree from a well-regarded university in economics, finance, accounting, business, engineering, etc. 
  • CIM does not accept unsolicited resumes from Agencies.  Any unsolicited resumes received from Agencies will be considered property of CIM and no fees will be due or paid.  If you wish to become an approved Agency with CIM or any of its Affiliates, please contact a member of the CIM Talent Acquisition Team.