Associate Director, Property Risk Manager
Westpac
Perth, Western Austraaia
Westpac Banking Group is one of the ‘Big 4’ Australian retail and commercial banks. The PRM role is focused on guiding the Bank in terms of commercial property mortgage investments, for exposures ranging from $10m to $150m. The PRM role maintains the Bank’s in-house property industry expertise and market presence. The role is one of an industry expert in technical property matters; market knowledge and property risk. The Bank is an active player in funding the acquisition of major… Show more Westpac Banking Group is one of the ‘Big 4’ Australian retail and commercial banks. The PRM role is focused on guiding the Bank in terms of commercial property mortgage investments, for exposures ranging from $10m to $150m. The PRM role maintains the Bank’s in-house property industry expertise and market presence. The role is one of an industry expert in technical property matters; market knowledge and property risk. The Bank is an active player in funding the acquisition of major investment-grade properties and also major residential built-form and land development projects. My specific role responsibilities included: • Assist in the Bank’s decisioning of mortgage investment opportunities, inputting to sector strategy and risk policy as well as specific transactions, sector dynamics and future trends; • Developing relationships with Bank customers to assist their processes and decisions, and also risk management; • Maintain and manage a panel of external property valuation consultants to achieve best-practice valuation procurement on behalf of the Bank; • Undertake annual reviews for all existing mortgage investments, examining property performance, occupancy and income; • Oversee and authorize progress payment drawdowns on development projects; • Providing market interpretation and education to senior Relationship Managers and Credit Officers within the bank; • Be a ‘sounding board’ for lower value bracket property transactions and exposures within Westpac’s Business Bank from time to time. • Deliver a complete risk management solution, covering development funding feasibility and break-eve analysis, S-curve cost and project timing and progress monitoring, and market valuation of realisable end unit products.• The Bank’s customers included major-tier developers, syndicated investment schemes and AREITs. Show less