Job PurposeIn this role, this individual will support the senior members of the Asset Management Team and will report to the Managing Director of Proprietary Products. The Asset Manager is responsible for assisting in the managing of a portfolio of commercial real estate loans, as well as supporting compliance and credit administration requirements.
Duties and Responsibilities- Monitor the collection of required financial reporting from borrowers; including, but not limited to, property operating statements (income statements, balance sheets, aged receivables), rent rolls, STR reports, and guarantor/borrower financials.
- Throughout the life cycle of each assigned loan, serve as the key point with the borrower contact on servicing and asset management-related matters.
- Aggregating and compiling property level information into portfolio-wide statistics and presentation materials.
- Support the senior asset managers in monitoring each position's performance relative to underwriting, budget, and covenants within loan documents.
- Manage the draw review process for value-add renovation and ground-up construction projects of varying sizes and scopes.
- Prepare quarterly asset reports that concisely summarize (a) loan, (b) collateral, (c) market, (d) business plan progress, and (e) sponsor -- risks, mitigants and trends.
- Analysis of property operating statements, including noting significant changes in income and expenses.
- Performing covenant tests regarding debt service coverage ratio, debt yield, loan-to-value, and guarantor net worth hurdles.
- Additional ad-hoc responsibilities based on the needs of the portfolio.
Qualifications - Bachelor's Degree in finance, management, business, or equivalent work experience.
- Minimum 3-5 years of experience in a real estate or financial service and/or asset /investment management firm.
- Strong analytical and computer skills with a thorough knowledge of Excel including the ability to perform cash flow analysis.
- Ability to work in a team environment, to think independently and generate quality work product.
- Ability to manage multiple priorities and meet tight deadlines.
- Adhere to processes and procedures but suggest and implement improvements when warranted.
