Managing Director, Real Estate Credit

Job Description

ABOUT CLEARWATER

Clearwater PACE, LLC (“Clearwater”) is a New York–based, institutionally backed direct lender providing C-PACE financing nationwide across all commercial real estate asset types. Our capital supports ground-up development, value-add repositioning, adaptive reuse, and recapitalizations of recently completed projects.

Led by seasoned real estate credit and structured finance professionals, Clearwater structures customized, credit-driven financing aligned with sponsor objectives, supported by fully assumable loan features and flexible prepayment terms. When paired with more expensive senior or bridge debt, C-PACE provides a cost-effective source of capital that lowers WACC and strengthens the overall capital stack.

We seek to hire the best and the brightest. Our team operates with autonomy, accountability, and a solutions-oriented mindset, contributing directly to the growth of a high-performance platform at the center of energy transition and structured-credit innovation.

SUMMARY

Clearwater is seeking a Managing Director, Real Estate Credit to serve as the firm’s senior credit authority across all investment activity. This role will lead credit strategy, underwriting governance, risk management, and portfolio construction across Clearwater’s origination, securitization, and balance sheet platforms.

The Managing Director will define and enforce institutional credit standards while partnering closely with Originations, Capital Markets, and Executive Leadership to ensure disciplined capital deployment. This individual will serve as the primary credit voice with internal Investment Committees, warehouse lenders, rating agencies, and institutional capital partners.

The ideal candidate brings deep commercial real estate lending experience across construction, bridge, and structured credit executions, with exceptional judgment across cycles. This is a senior leadership role with material influence over portfolio risk, investor confidence, and platform scalability.

KEY RESPONSIBILITIES

Credit Strategy & Governance

• Own Clearwater’s enterprise-wide credit philosophy, underwriting standards, and risk tolerance framework across all products and jurisdictions
• Establish and maintain institutional underwriting policy, approval authorities, concentration limits, and portfolio construction parameters
• Chair or serve as a senior voting member of the Credit Committee, providing final credit authority on complex or large-scale transactions
• Ensure all transactions align with warehouse lender covenants, investor mandates, and securitization eligibility standards
• Proactively assess macroeconomic risk, asset-level performance trends, sponsor behavior, and capital market conditions to adjust risk posture in real time

Underwriting Leadership

Portfolio & Asset Management Oversight

Capital Markets & Institutional Interface

Executive Leadership

Qualifications

COMPENSATION & BENEFITS

Clearwater offers a highly competitive compensation package that includes a base salary and an annual performance bonus. Compensation is commensurate with experience and aligned with market benchmarks for this role.

The firm offers a comprehensive benefits suite, including health, dental, and vision coverage, as well as a 401(k) retirement plan. This role follows a hybrid schedule with flexibility based on responsibilities and business needs.

EQUAL OPPORTUNITY EMPLOYER

Clearwater is committed to a diverse, inclusive, and equitable workplace grounded in integrity, collaboration, and respect. We welcome applicants from all backgrounds and are proud to be an equal opportunity employer. Only candidates selected for further consideration will be contacted.