Credit Risk Associate Flex Capital

Company: JPMorgan Chase

Location: New York, NY

Job Function: Accounting


JPMorgan Chase strives to be a catalyst for meaningful, positive and sustainable change in communities across the globe.  JPMorgan Chase annually invests more than $350 million annually to create pathways to opportunity so that individuals have access to the knowledge, skills, resources, and capital they need to secure their futures and compete in the global economy. Our programs seek to address key drivers of economic inequality experienced by vulnerable populations around the globe through four key focus areas: Community Development, Jobs and Skills, Financial Capability, and Small Business.


This position offers an exciting opportunity to advance the firm’s impact investing activities. The team is hiring a second Underwriting Associate to support the execution of the firm’s Flexible Capital initiative, which is a collaboration across JPMorgan Chase’s lines of business (LOBs) to deliver loan capital to advance inclusive economic growth in low-income communities. The team works with Community Development Financial Institutions (“CDFIs”) whose geographic targets and missions align with the firm’s philanthropic objectives within its major markets. The Firm extends loans to such institutions on terms that are more flexible that the firm’s business units currently offer.

The Underwriting Associate will sit with the other Associate on the Intermediaries Lending team in the Community Development Bank (CDB) and partner closely with the Impact Finance team that sits in Corporate Responsibility.


The Underwriting Associate will support one banker in various tasks to prepare credit approval memos, manage portfolio accounts and provide portfolio management support (i.e., management of on-going client relationships and transactions).

In preparation of credit approval packages, an underwriter reviews a CDFI’s audited financial statements and portfolio quality to assess its current strength and provides a summary of the organization’s current management, lending strategy and overall outlook. The Underwriting Associate will work closely with the Flex Cap Banker, and will be expected to engage directly with CDFI project-level and executive staff. The Underwriter will be challenged to identify the key credit risks and communicate them in a clear and succinct presentation. The Underwriter’s responsibilities will also include participation in the closing/documentation process on new loans, on-going valuation of loans within the portfolio and regulatory compliance, and timely maintenance of accurate books and records.

There are also frequently opportunities for the Underwriting Associate to work across business lines, including working with the CDB Intermediaries Lending team to provide credit to top-tier CDFIs, our Community Development Real Estate team to finance affordable housing and New Markets Tax Credits, and the Corporate Responsibility team.



  • Credit/Lending Experience: Minimum of three years in a commercial real estate credit or lending function with experience structuring complex transactions
    • Knowledge of CDFIs and experience with their different programmatic lending areas (charter schools, health centers, grocery) is a plus.
  • Knowledge/Education: BA/BS or Masters, with concentration in urban policy or management and/or accounting/finance/economics.
    • Other plusses are successful completion of credit training, understanding of commercial real estate, and knowledge of Community Development financing tools, including NMTCs and LIHTC
  • Interests: A demonstrated passion for community development finance and/or social enterprise
  • Skills:
    • Strong analytical and project management skills, with the ability to multi-task
    • Strong verbal and written communication
    • Dexterity with Excel, Powerpoint and Word. Working knowledge of JPMC add-ins a plus
    • Excellent teamwork and customer service
    • Ability to consistently deliver on commitments to colleagues and internal and external customers
    • Ability to handle ambiguous problems and persist until problem is resolved
    • Attention to detail
    • Entrepreneurial spirit and comfort with ambiguity

Compensation and Benefits

Competitive compensation commensurate with experience.

How to Apply