Credit Risk Manager / Associate Director - Real Estate Finance

ZipRecruiter; London; Hybrid; GBP 76,000 - 90,000; Full time

Job summary

A dynamic lender in London is seeking a Credit Risk Manager to support the underwriting and monitoring of their commercial real estate loan portfolio. This role involves conducting credit analysis, engaging with stakeholders, and managing portfolio risks. The ideal candidate has 3-5 years' experience in credit risk within the commercial real estate sector and a strong grasp of secured loan structures. The position offers a salary up to £90k plus bonus, with a hybrid work arrangement (4 days in office, 1 day from home).

Qualifications

• 3–5 years’ experience in credit risk, lending, or underwriting within commercial real estate finance.
• Strong understanding of secured loan structures and legal documentation.
• Excellent analytical and credit writing skills.

Responsibilities

• Conduct detailed credit analysis and underwriting of new commercial real estate lending opportunities.
• Manage a portfolio of secured commercial real estate loans.
• Engage with stakeholders to manage the credit risk process.

Skills

Credit risk analysis

Underwriting

Analytical skills

Interpersonal skills

Commercial awareness

Education

Degree-educated or equivalent

Job description

Job Description

My client is an established boutique lender who provides residential development along with resi and commercial investment loans up to £100m. This is a new role reporting to the Risk Director, Investment Loans.

Overview:

We are looking for a dynamic and analytical Credit Risk Manager / Associate Director to support the origination, underwriting, and ongoing monitoring of a UK-focused commercial real estate loan portfolio. The successful candidate will play a key role in assessing new investment lending opportunities and managing existing exposures within a growing credit risk function.

Reporting to the Head of Investment Risk, you will work closely with internal teams and external advisors to ensure rigorous credit analysis, sound structuring, and proactive portfolio management. This role offers exposure to a broad range of secured real estate transactions and is ideal for a commercially minded risk professional with a strong grasp of credit fundamentals and deal execution.

Responsibilities include:

New Lending – Underwriting & Execution

• Conduct detailed credit analysis and underwriting of new commercial real estate lending opportunities.
• Prepare and present credit papers to the Credit Committee, articulating key risks and mitigants.
• Engage with borrowers, solicitors, valuers, and third-party advisors to manage the credit risk process from term sheet to execution.
• Review legal documentation to ensure consistency with approved credit terms and identify any residual risks.
• Support credit structuring, including covenants, guarantees, and security packages.

Portfolio Monitoring & Risk Oversight

• Manage a portfolio of secured commercial real estate loans, ensuring compliance with facility terms and early identification of any performance concerns.
• Monitor key risk triggers such as income performance, loan-to-value, expiry dates, and covenant tests.
• Review and approve asset-level actions such as consents, waivers, and refinancings.
• Participate in portfolio reviews and contribute to internal risk reporting processes.

Governance & Stakeholder Engagement

• Maintain regular dialogue with originators, legal counsel, and external parties to ensure transactions and portfolio issues are appropriately managed.
• Work closely with senior management to ensure risk appetite is maintained and emerging risks are addressed.
• Support internal governance and regulatory processes as required

What you will Bring:

• 3–5 years’ experience in credit risk, lending, or underwriting within commercial real estate finance.
• Strong understanding of secured loan structures, real estate assets, and legal documentation.
• Excellent analytical and credit writing skills with the ability to present clear, concise recommendations.
• Confident working in a fast-paced environment and managing multiple priorities simultaneously.
• Proven ability to challenge assumptions and take ownership of decisions.
• Strong interpersonal skills and a collaborative approach to cross-functional work.
• Degree-educated or equivalent; relevant professional qualifications a plus.
• A flexible and dynamic individual who thrives in a growing business and is comfortable with change.
• Someone commercially aware with sound judgement and a pragmatic approach to risk.
• A self-starter who combines attention to detail with the ability to see the bigger picture.

Location: London (4 days in the office/1 day from home)

Salary: up to c. £90k plus bonus