VP - Asset Manager Debt

Company: SelectLeaders
Location: New York
Posted on: March 20, 2023

Job Description:

The Vice President, Asset Manager is part of our clients Asset Management group, which manages all the company's direct equity, preferred equity, and debt portfolio investments. The Vice President will act as an asset manager for a portfolio of debt and alternative investments which include but are not limited to whole loans, mezzanine loans, preferred equity, and pooled mortgage vehicles - such as Freddie Mac KF series bonds.

The Candidate Experience and Professional Qualifications

• A minimum of 7-10 years of real estate debt asset management experience, with demonstrated experience asset-managing and/or servicing debt portfolios, restructuring and workout experience required, in multiple US markets (whole/senior/mezzanine loans and/or real estate securities).
• Bachelor's degree is required and an MBA or a Master's in Real Estate or other relevant field is preferred.
• Multifamily and commercial property sector experience is required.
• Experience with third party providers of financing and preparing, executing, and monitoring CLOs is a plus.
• Superior analytical and problem-solving skills, with experience in providing creative and innovative solutions to real-time challenges.
• An investment mindset with a thorough understanding of financial calculations such as NPV, DCF, and IRR.
• Must be well-versed in project proformas and understanding deals, and able to articulate, both orally and in written form, the case for a specific project.
• Proficiency with MS Excel and Word required; familiarity with Argus and Real Insight a plus.Essential Duties & Responsibilities include the following but are not limited to the job specifications contained herein.
  Whole Loans, Mezzanine Debt and Preferred Equity:
  • Monitor the performance of the underlying collateral.
  • Serve as the primary point of communication with the borrower/sponsor.
  • Extract key dates and compliance requirements from all underlying documents including the first mortgage, operating agreements, and specific loan documents.
  • Ensure that all reporting deadlines and other compliance requirements are met by the borrower/sponsor and monitor any other performance requirements such as DSCR tests, etc.
  • Maintain credit/loan servicing files.
  • Oversee loan draws and the administration of escrow accounts.
  • Respond to approval requests in consultation with the Head of Debt Asset Management.
  • Review and approve budgets and other items as required by the governing documents.
  • Conduct site visits as required to assess the underlying collateral.
    Pooled Mortgage Securities:
    • Review monthly reports received from the trustee and/or servicers.
    • Extract (or outsource) the key terms/provisions the applicable governing documents including the pooling and servicing agreement, joint venture agreements with investors and special servicing agreements.
    • Conduct regular/monthly loan portfolio reviews with special servicers, with a focus on servicer- and internally designated watchlist loans, large loans, and other loans of interest.
    • Respond to approval requests in consultation with the Head of Debt Asset Management.
      All Assets:
      • Oversee and lead any work outs, loan modifications and restructurings for assigned loans as needed.
      • Participate in the CLO management and other credit facilities relating to the whole loan portfolio.
      • Effectively and professionally communicate and present to, and respond to questions from large institutions, groups of executives, investors, lenders, and partners.
      • Working with the Finance team, ensure that all loan/security payments are received.
      • Working with Investor Relations team, make recommendations related to investor distributions.
      • Actively support due diligence and acquisitions as needed/appropriate.
      • Directly oversee and manage assigned Analyst and/or Associate staff and support the training and development of junior level team members within the group more generally.
      • Support and participate directly in the quarterly/annual valuation, audit, and compliance reporting processes.
        
        AMERICANS WITH DISABILITY SPECIFICATIONSPhysical Demands:The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is occasionally required to stand; walk; sit; use hands to finger, handle, or feel objects, tools, or controls; reach with hands and arms; climb stairs; balance; stoop, kneel, crouch or crawl; talk or hear; taste or smell. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by the job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.
        Work Environment:Work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is not exposed to weather conditions. The noise level in the work environment is usually moderate.
        
        Education Bachelor's degree is required and an MBA or a Master's in Real Estate or other relevant field is preferred.
        
        Compensation (optional) Market Compensation

Keywords: SelectLeaders, New York , VP - Asset Manager Debt, Executive , New York, New York