Arbor, a real estate investment trust that invests in a diversified portfolio of multifamily and commercial real estate-related loans and other real estate-related assets, has a career opportunity within our Depew, NY office for a Team Lead of Risk Management. The Risk Management Team Lead is responsible for the direct oversight of the Agency Risk Management department, while guiding staffing, workflow, performance, productivity, and ensuring compliance with Arbor and Investor policies, procedures, and goals.
Risk Management is essentially the Special Servicing function interacting with Fannie Mae’s SAM and REO Groups as well as the Master Servicer and Directing Certificate Holder (DCH) in Freddie Mac securitizations. Risk Management is responsible for monitoring Arbor’s portfolio of “at risk” multifamily mortgage loans in order to assess portfolio quality, identify areas of risk, while evaluating the viability of alternate strategies to proactively mitigate potential losses and maximize recoveries.
The Risk Management Team Lead will have the following duties and responsibilities, including but not limited to:
- Lead and manage workflow of a highly engaged Risk Management team while contributing to the development and implementation of workout strategies, setting clear objectives while monitoring and measuring performance and providing regular feedback.
- Mitigate risk or minimize potential losses through sound asset management strategies.
- Work with internal and external parties in order to identify risk issues and provide Management with feedback on ways to manage these risks.
- Active and ongoing delinquency control, collection, and reporting to Senior Management and Investors.
- Prepare detailed loan impairment, loss share and risk ratings. Facilitate the timely submission of loss share, inspections and financials to Investors.
- Conduct physical property inspections as required by the investor, in order to evaluate property condition and follow up on any deferred maintenance observed.
- Disposition of loans through the Bankruptcy and Foreclosure process in accordance with applicable State practices and Investor guidelines.
- Analysis of escrowed reserves to determine the release of funds held in connection with the project improvements.
- Assessment of documentation relative to insurance losses, easements, partial releases and other issues that may arise to determine and recommend release of funds to ensure restoration.
- Engage and work with third party vendors to assist in the management of asset specific risk, as well as the resolution of the risk associated with these assets.
- Engage with borrowers to manage riskier loans some of which may be in default.
- Provide feedback to management and origination peers on trends that could impact future risks.
- Developing and maintaining strong and collaborative relationships with internal and external partners.
- Interact with senior management, regulatory agency personnel, internal legal counsel, internal risk review personnel as well as operational/compliance peers.
- Develop and enhance policies and procedures to support the Special Servicing function including presentations for annual Rating Agency reviews.
Education: Bachelor’s degree in finance or related field, Master’s degree preferred
Experience: Minimum 7 years' experience in Special Servicing, litigation, and bankruptcy management focused on multifamily, commercial real estate, and mortgages (FNMA, FHLMC, FHA, and HUD)
- Knowledge of the Fannie Mae and Freddie Mac Multifamily Seller Servicer Guides.
- Ability to perform real estate credit risk assessment analysis (i.e. debt service coverage, stress levels and general knowledge of the loan life cycle).
- Excellent oral, written, and interpersonal skills.
- Aptitude to gather market data in preparation of workout strategies.
- Strong ability to work with all levels of management.
- Experience working on initiatives requiring strategic planning.
- Ability to multitask, switching priorities based on the needs of the company.
- Ability to adapt to change and communicate changing requirements.
- Excellent problem solving abilities and results oriented; able to make decisions independently.
- Strong leadership skills and ability to influence others.
- Sound understanding of compliance and operational risks and internal control frameworks.
- Excellent organizational skills and meticulous attention to detail.
- Proficient skills in Microsoft Office, Word, Excel, Outlook, and SharePoint.