Manager - Real Estate Solutions / Commercial Loan Workout - Midland Loan Services - The PNC Financial Services Group

October 14, 2009
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The PNC Financial Services Group

Dallas, Texas 75240
http://www.pnc.com

As an employee of PNC Financial Services Group, you become part of an organization committed to customers, employees, investors, and the communities in which we do business. PNC is an established, fast-growing and successful financial services company, with businesses organized around retail and commercial banking, asset management, and funds processing. As a leading third-party servicer, Midland Loan Services provides the full scope of commercial loan servicing for institutional, agency and commercial mortgage-backed securities (CMBS) portfolios. 
As a Manager of the Real Estate Solutions team, you will be responsible for resolving and/or disposing of non-performing commercial real estate assets with the goal of minimizing losses and maximizing value for our clients and their investors. Leading your team, you will be responsible for the development, implementation and management of workout and/or disposition strategies of complex, high-profile distressed assets.  Resolution or disposition typically involves resolving defaults, negotiating workout terms, managing the foreclosure process, coordinating with legal counsel for bankruptcy and other litigation, and managing REO through the sale of the asset.  This will include crafting a workout strategy on distressed assets based on understanding the real estate market, property deficiencies, borrower deficiencies, local laws regarding lender's rights and remedies and ascertaining the value of the real estate asset. You will also be responsible for communicating the strategy and resolution progress to our clients, investors, and rating agencies as appropriate.
As a working manager, you will oversee the activities of your team members ensuring their employee development, performance coaching and feedback is provided appropriately. You will have the direct supervision of a team asset managers as they effectively manage and dispose of assigned portfolios of non-performing or distressed assets. Your days will be filled with a variety of tasks in an environment that values teamwork, open communication, cutting-edge employee training and fast-track career development. The hours follow a basic workweek, but may allow for some flexibility depending on the needs of your clients as well as the balance of your workgroup. Travel is required. 
The successful candidate will have the following qualifications:
  • 10-15 years experience managing non-performing loans and REO properties. 5 yrs of commercial real estate lending, underwriting, asset management or similar experience
  • Product and industry knowledge. Experience working with clients, borrowers, agents and/or loan servicers. 
  • Previous management experience is required.
  • Strong understanding of Pooling and Servicing Agreements, CMBS and REMIC Regulations
  • Ability to manage, assign and delegate work flow to maximize productivity within the team and on multiple projects.
  • Track record of client interaction and managing of client's expectations.
  • Ability to effectively communicate with clients and rating agencies who may have adverse or conflicting positions regarding analysis and concluded disposition recommendations.
  • The ability to handle a portfolio of highly complex and/or high profile assets.
  • Supervisory experience.

 

PNC is committed to offering you a comprehensive and competitive benefits package.  We design our full time and part time benefits programs based on PNC's benefits philosophy to provide quality levels of coverage at affordable costs over the long term for both employees and PNC. We strive to balance the cost of providing competitive benefits with the need to cover employees with a wide range of protection during and after employment.
Options you may be able to consider include:
  • Medical and Dental Coverage
  • Life Insurance
  • Part Time Benefits
  • Education Assistance
  • Paid Training
  • Paid Vacation
  • Competitive Pay
  • Shift Differential
  • 401(k) and Pension Plan
  • Employee Stock Purchase Plan
  • Flexible Schedules
  • Growth Opportunity
  • Work/Life Balance

 

PNC is an Equal Employment Opportunity/Affirmative Action Employer -- M/F/D/V/SO
Interested individuals please submit yuor interest for requisition # 609447 by selecting the "Apply Now" button. By selecting the "Apply Now" button, you will be linked automatically to PNC's website to submit your interest. Please follow the instructions provided. 
Confidential inquiries welcome - Contact Amy Reynolds @ 913.253.9186