Role Value Proposition:
MetLife Investments is a premier asset manager with breadth across various asset sectors and global markets, and strong asset-liability management capabilities. With a $500 billion combined domestic and international general account portfolio and a multi-billion dollar annual cash flow, Investments is an important contributor to MetLife’s financial performance. The primary objective of Investments is to maximize MetLife’s long-term economic value by investing in assets that support the company’s liabilities and produce a consistent stream of operating earnings.
Global Real Estate and Agricultural Investments maintain a portfolio invested in commercial real estate and agricultural mortgages, as well as real estate equities. Real Estate Investments sources and manages commercial real estate investments through seven regional field offices in the U.S. and International field offices in London, Tokyo, Mexico City and Santiago.
The Valuations Associate (VA) will be a high profile and integrated position supporting a commercial real estate portfolio owned by MetLife’s general account and third party investors (MIM). The VA will support the Director of Valuations in preparing analyses for and making presentations to senior management, and will have regular interaction with outside valuation vendors and real estate regional offices. The VA will play a key role within the Valuations function, establishing market values for MetLife’s real estate holdings, benchmarking of valuation assumptions, summation of portfolio level valuation results, and resolution of complex valuation issues. In addition, the VA will be visible in the industry through direct participation at trade organizations and interaction with key individuals at prominent valuation and valuation management firms.
Review quarterly real estate valuations performed by external consultants and real estate asset managers pertaining to a diverse portfolio of institutional office, apartments, hotel, retail and industrial assets in major U.S. markets.
Support the Director of Valuations in provision of oversight and guidance to consultants and asset managers on complex issues including valuation of properties under construction, marking debt to market, partial interest valuations, etc.
Consolidate valuation results by property type and geography for trend analysis and benchmarking.
Compare valuation assumptions to those used in prior valuations to determine key drivers of value change.
Draft a narrative and participate in quarterly presentation to senior management of valuation results, trends, anomalies, issues and the resolution thereof.
Review prospective acquisitions and conduct the necessary research to assess valuation risk.
Collaborate with Research and Performance Measurement teams in the analysis of valuation, debt, and performance data in support of attribution analysis, performance measurement, market analysis, underwriting guidance, etc.
Enhance Valuation platform and visibility in industry through participation at industry conferences and interaction with senior staff at prominent valuation and valuation management firms.
Development, communication and ensuring compliance with best in class valuation policy and procedures.
Essential Business Experience and Technical Skills:
3-7 years of relevant commercial real estate valuation experience in an institutional setting
Strong real estate valuation and financial modeling skills in both Argus and Excel
Advanced analytical abilities and excellent demonstrated written and verbal communication skills
Bachelor of Science degree in real estate or a related discipline
Master of Business Administration degree in real estate or a related discipline