Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $87 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company's businesses deliver their products and services through branches and offices; a network of 1,576 ATMs; telephone banking centers 800-KEY2YOU® (800-539-2968); and a website, Key.com®, that provides account access and financial products 24 hours a day.
About the Business
Credit Portfolio Management (CPM) group is responsible for "active" credit portfolio management on behalf of the Bank's Middle Market, Real Estate and Commercial and Institutional credit portfolios with the objective of improving portfolio efficiency via identification and implementation of transactions which reduce default risk and enhance return relative to risk.
KeyBank's Real Estate Capital (REC) operates in strategic commercial and residential markets across the country. CPM is responsible for developing and maintaining informed, forward-looking perspectives regarding real estate performance within those markets for use in managing risk. Specifically, the Real Estate Market Research team is responsible and accountable for:
About the Job
- Researching and reporting on the supply and demand drivers of specific markets to proactively support ongoing analysis of the real estate portfolios.
- The development of KeyBank Macroeconomic View, which is published monthly and presented to Enterprise Risk Management (ERM) leadership. The Macroeconomic View provides various scenarios for key economic indicators, reviews important economic trends, and highlights emerging risks.
** Please note, depending on the qualifications of the candidate, this position will be filled as a grade 81 or 82**
The Real Estate Market Analyst will support the Senior Real Estate Market Analyst and the Real Estate Credit Portfolio Management team. Specifically, the Market Analyst will assist in the production of residential and commercial sector market coverage at the appropriate MSA and sub-market levels (Real Estate Market Views) and the monthly Macroeconomic View. In addition, the analyst will assist in tracking macro economic and real estate trends and support additional initiatives as appropriate.
This position reports directly to the Senior Real Estate Market Analyst in the Credit Portfolio Management group.
Essential Job Functions
Preparation of Real Estate Market Analysis
Communicate and Apply Real Estate Market Analysis
- Develop and maintain a working knowledge of the methodologies used by Key's real estate market data providers as the basis for differentiating between and applying data and forecasts.
- Analyze specified local, regional and national real estate markets for the residential and commercial property sectors, utilizing Key¿s internal and external real estate market and other data research resources.
- Assess capital flows into and out of markets to identify investment trends by market.
- Develop ongoing working relationships to obtain market insight; internally with REC and other lending teams, as well as externally with appraisers, brokers, research professionals, customers and others.
- With the Market Research team, work to generate Real Estate Market Views and other standard analysis for specified MSAs and sub-markets.
- Assist in the development of presentations for portfolio reviews, strategy planning sessions and other meetings when applicable to communicate real estate market trends, conditions and the anticipated impact of the portfolio.
- Provide input into maintaining an informed perspective of underwriting benchmark assumptions by property type, property class and sub-market for application in Key's CPM, underwriting, servicing and distribution activities.
- Working with the Senior Analyst, provide recommendations for applicable stress testing scenarios to reflect anticipated submarket performance for CPM to conduct analysis on the portfolio.
- With the Senior Analyst, develop specialized market research on markets/sub-markets of interest to increase realizable value of real estate market resources for CPM and other end users and promote increased REC feedback.
- Assist in development of the monthly Macroeconomic View including data collection, analysis, and production of the final presentation.
- Support the Market Research team in developing regional economic views for Key's footprint and national bank markets.
- Support the Market Research team in addressing ad hoc and targeted economic research requests (i.e., specific industries).
- Undergraduate degree (Finance or Economics preferred).
- Strong work ethic and intellectual curiosity.
- Strong analytical, interpersonal, decision-making, and advanced written and oral communication skills.
- Familiarity with thematic mapping concepts
- Accuracy in analysis and the timely achievement of goals is crucial to success in this role.
- Experience in real estate market research and/or economic research, underwriting, appraisal review, risk management or equivalent preferred.
Careers at Key
- Specific knowledge of real estate industry and economic data providers, including PPR, RCA, Reis, CoStar, and Moody's Economy.com.
KeyCorp is an Equal Opportunity Employer M/F/D/V
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