Tandem Operations Associate Jobs in Paterson, NJ

The Closing Team Associate will report to the Head of Underwrting and will be responsible for closing all debt and equity investments (including senior loans, mezzanine loans, preferred equity, common equity, and acquisitions) working in tandem with Canyon Partner’s Real Estate originations teams, while working closely with Canyon’s legal counsel, asset management, and treasury departments and third party consultants to complete due diligence and close on commercial real estate investments that the firm is making.

Process Ownership & Coordination

• Run the closing process from start to finish once a term sheet is signed, serving as the central process driver across all workstreams.
• Draft and continuously maintain the due diligence checklist as the operational tracker for ownership, status, notes, and document location.
• Send the kickoff email package and process instructions to the sponsor/borrower team, including data room access and upload conventions.
• Facilitate the weekly checklist call and produce internal weekly “Closing Notes” covering top blockers, decisions needed, and critical path actions.

Diligence & Third-Party Management

• Launch and track third party engagements, including insurance, construction (PCA), environmental, appraisal, zoning, tax, and specialty reports, with scope, reliance language, and delivery dates.
• Reviewing the deliverables provided by the third parties in concert with the origination team to identify risks and ensure completeness of the reports.

Insurance Leadership

• Introduce the borrower’s broker to the firm’s consultant, serve as an intermediary to negotiate Canyon’s requirements with the Sponsor’s requested coverage levels, and ensure binding is completed.
• Secure internal approvals for any deviation from standard requirements and ensure final terms are reflected in transaction documentation and the closing statement.

Construction & Environmental Diligence

• Coordinate review of GMP contracts, design agreements, schedule of values, construction schedule, buyout logs, and contractor financials with consultants, counsel, and the originations team.
• Extract and surface real issues such as scope gaps, pricing or escalation risk, schedule concerns, unbalanced SOV, and contractor strength, then drive a resolution path.
• Order and coordinate Phase I environmental review, identify recognized environmental conditions, and align mitigants with the Deal Team.

Organizational Structure & Guarantor

• Collect organizational charts and verify control parties and ownership thresholds are complete.
• Collect and underwrite guarantor financials to evaluate counterparty risk.
• Collaborate with the Canyon Security Team to ensure the background checks are completed in a timely manner.

Closing Economics

• Maintain the deal budget workbook covering project line items, closing costs, and required reserves and contingencies.
• Perform equity reconciliation on costs spent to date.
• Build the sources & uses closing statement and ensure the escrow settlement statement ties out.
• Track third party fees against budget to prevent surprises near closing.

Cash Management & Funding

• Orchestrate cash management structure and account setup with sponsor accounting, treasury, and servicers, and confirm legal docs reflect the structure.
• Coordinate capital call readiness and wire mechanics, submitting wire requests to the authorized approver.
• Track rate cap / hedging where applicable, ensuring premiums are integrated into sources/uses.

Post Closing Transition

• Support the transition memo and assist Asset Management with cash flow models.
• Coordinate servicer onboarding and custodian/note delivery.
• Maintain the post-closing tracker for trailing documents, recorded items, final policies, hedge docs, opinions, and ESG items.

• A minimum of 4 years relevant experience, within a transaction or loan closing, debt originations support, capital markets, or real estate legal function.
• Direct experience closing commercial real estate debt and/or equity transactions including managing due diligence checklists and critical path timelines from executed term sheet through closing.
• Demonstrated experience engaging and coordinating third-party diligence providers including title/survey, appraisal, environmental (Phase I), property condition/construction, zoning, tax, and insurance from scoping and engagement through review of deliverables and reliance language.
• Experience with closing economics, including deal budgets, sources & uses, settlement statements, reserves and contingencies, and equity reconciliation.
• Exposure to loan documentation, organizational structure and guarantor review, and cash management or funding mechanics strongly preferred.
• Legal experience preferred; client-facing experience working directly with sponsors, borrowers, counsel, and consultants preferred.