Classification: Exempt, Full-time
Title: Development Analyst
Reports To: Managing Director, Development
Location: Philadelphia, PA
Date: September 2018
Development Analyst Overview: Conduct detailed commercial real estate market and competitive position research, delivering accurate financial analyses relating to project budgets and feasibility, including validating assumptions and summarizing findings in written and/or oral presentations. Support all development and construction staff with the execution of their duties in support of all project activities where the Company is acting as developer or co-developer.
Typically, with less than three years of relevant experience, demonstrate excellent financial, mathematical and statistical skills, often working with complex databases and/or quantitative tools with proficiency and accuracy for extended periods of time. Must have a strong work ethic and remain committed to meeting deadlines.
- As requested and directed, support all development and construction staff with the execution of their duties in support of all project activities where the Company is acting as developer or co-developer.
- With oversight, conduct detailed commercial real estate market and competitive position research, delivering accurate financial analyses relating to project budgets and feasibility, including validating assumptions and summarizing findings in written and/or oral presentations.
- With supervision, perform a variety of financial modeling techniques to implement plans and budgets consistent with firm strategies. As requested, use established analytical tools and/or standard company financial formatting to support business operations, including refining reports from researched materials and/or data collected to evaluate and report on the primary characteristics of the assigned project.
- Support internal record retention efforts, collecting final internal and external documentation and third-party contracts in support of the business decision-making rationale. Populate the firm’s network drive architecture and guiding other users to maintain consistent and thorough recordkeeping in real-time.
- Exercise due care and in accordance with company policy when accessing National’s systems and information assets, ensuring that, as appropriate, the confidentiality and privacy of data is maintained at all times.
- As directed, assist with the preparation of professional RFP packages related to the solicitation of third-party professional services (e.g., architecture, construction, consulting, etc.). Assist senior personnel in soliciting proposals from potential construction lenders including preparing financing memos and packages for submission.
- With oversight, provide support with analysis, timely and accurate preparation of third-party reporting packages and requests (e.g., lender draw packages).
- As appropriate, attend and actively contribute to regular meetings with the parent company and its staff, clients, consultants, joint venture partners, and third-party professionals related to current and planned future development activities. Record and disseminate meeting minutes, as required.
- As directed with oversight, assist in the management and pursuit of additional sources of financing including government subsidies, grants, tax credits, etc.
- In consultation with the development and construction staff, act in a role that is working autonomously to support the parent company’s operations staff.
- In all cases, ensure company investment objectives, policies, and standards are followed in the development and construction processes.
- With supervision, prepare and report accurate and timely billable project hours following policies and procedures, resolving errors and reconciling against project budgets.
- Demonstrate commitment to National’s Sustainability Policy and best practices where feasible by incorporating environmental, social and governance dimensions in daily business activities and decision-making.
- Periodic overnight travel is required on an as needed project-specific basis to attend meetings, complete research, and participate in other special events.
Other Duties and Responsibilities:
- Strict adherence to the terms and provisions as detailed in National’s Employee Handbook.
- Complete compliance with National’s Regulatory Compliance Manual, Code of Ethics and underlying compliance policies and procedures.
- Represent the company at industry organizations and important external events.
- Continue professional development as appropriate.
- Successful completion of an undergraduate degree in business with an emphasis on a real estate-related discipline (e.g., finance, development, etc.), economics, mathematics, architecture, engineering or other real estate or construction-related field is required; a graduate degree in a field related to real estate development is preferred.
- No prior commercial real estate experience is required, however, self-motivation and a proactive demonstration of initiative to maximize “on-the-job” training opportunities and the aptitude to acquire this particular, specialized knowledge and skill set is required.
- Must be highly-detailed and demonstrate excellent financial, mathematical and statistical skills, often working with complex databases and/or quantitative tools with proficiency and accuracy for extended periods of time. Must have a strong work ethic and remain committed to meeting deadlines.
- Have the ability to exhibit solid analytical and critical thinking skills and effective verbal and written communication; have the ability to attempt to understand and appropriately articulate financial considerations, market demand, project feasibility, financing, and environmental considerations related to sound investments after a normal orientation period.
- Must be able to interact professionally with third parties and while multi-tasking, in a fast-paced, complex working environment.
- Proficiency at an intermediate level of Microsoft Office Suite in Excel, Power Point, Outlook and Word is required, in addition to the Argus real estate analysis software. Microsoft Project is preferred.
- Required to exhibit fundamental commercial real estate knowledge, sound judgment and initiative.
- Must be detail-oriented, thorough, and disciplined in order to ensure reporting accuracy.
- Must be self-motivated, possess a strong work ethic and demonstrate problem-solving, communication, interpersonal and teamwork skills.
- This job primarily operates in a clerical, office setting. This role routinely uses standard office equipment such as computers and phones. It is a sedentary role in a professional environment; however, incumbent is required to regularly walk, sit, talk and/or hear, reach with hands and arms.
The work environment and physical demand characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
This job description in no way states or implies that these are the only duties to be performed by this employee. This description reflects management’s assignment of essential functions and nothing in this herein restricts management’s right to assign or reassign duties and responsibilities to this job at any time. The employee in this position will be required to follow any other instructions and to perform any other duties requested by his or her supervisor.
In order to provide equal employment and advancement opportunities to all individuals, employment decisions at National will be based on merit, qualifications, and abilities. National does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, age, disability, or any other characteristic protected by law.
- Financial Analysis
- Research/Market Analysis
- Alternative Investments
- Hospitality / Entertainment
1+ to 2 years