Director, Real Estate Credit & Underwriting

Citi is seeking a Director, Real Estate Credit & Underwriter to lead underwriting, execution, and capital markets structuring across a diverse portfolio of commercial real estate transactions. This role sits at the intersection of credit, banking, and capital markets, partnering closely with Investment Banking, Capital Markets, and external investors.

The position plays a key role in financing new construction, acquisitions, and preservation of affordable and workforce housing, as well as a broad range of commercial property types including multifamily, industrial, retail, office, hospitality, and self‑storage.

This is a senior leadership role offering meaningful influence over underwriting standards, deal execution, and investor engagement, with strong exposure to both originations and securitization markets.

Role Overview

The Director, Underwriter is responsible for leading the end‑to‑end underwriting lifecycle, including credit analysis, structuring, approval, closing, and securitization of real estate loans. The role also provides leadership across transactions, stakeholder coordination, and market analysis, ensuring strong credit discipline and successful execution.

Key Responsibilities

Credit Underwriting & Deal Execution

• Lead underwriting for construction, bridge, and permanent real estate loans, including complex transactions
• Evaluate financial feasibility, credit quality, and market positioning of each deal
• Prepare and present credit approval materials for internal committees and external stakeholders

Capital Markets & Securitization

• Support the sale and securitization of loans, including preparation of materials for rating agencies and bond investors
• Ensure compliance with investor requirements and capital markets execution standards

Portfolio & Market Insight

• Analyze local and national real estate markets to inform credit decisions
• Identify trends and emerging risks across asset classes and geographies
• Provide strategic insights to senior stakeholders and deal teams

Stakeholder & Client Leadership

• Act as a key point of contact across Investment Banking, Capital Markets, Legal, and external partners
• Manage relationships with sponsors, clients, and investors throughout the deal lifecycle
• Lead cross‑functional coordination to move transactions efficiently from underwriting to closing

Leadership & Governance

• Provide guidance and oversight across underwriting processes and team outputs
• Ensure adherence to Citi’s credit policies, regulatory requirements, and risk standards
• Contribute to strategic initiatives and process enhancements across the platform

Qualifications & Experience

• 15+ years of experience in commercial real estate lending, underwriting, or credit, including 8-10+ years' managerial experience
• Significant experience across multiple asset classes (multifamily, industrial, office, etc.)
• Strong understanding of real estate credit metrics (NOI, DSCR, Cap Rates, LTV, etc.)
• Experience structuring and underwriting complex transactions
• Strong communication and stakeholder management skills
• Experience with CMBS, securitization, or capital markets execution
• Familiarity with rating agency processes
• Advanced degree preferred (MBA or similar)