The Director -or- Senior Director, Loan Asset Management will assist with asset management, surveillance and reporting functions for the Commercial Mortgage Loan Portfolio.
- Conduct active portfolio surveillance to effectively monitor individual loan and property performance in connection with the Quarterly Asset Review and Annual Review processes. Responsibilities include, but are not limited to, analyzing loan-level financial statements, rent rolls, and inspection reports to update the underlying collateral value and calculate/evaluate key loan metrics (i.e., loan to value, debt service coverage ratio, and internal risk rating).
- Collaborate with internal mortgage originators and accounting team, as well as third-party servicer(s), correspondents and legal counsel to complete routine and ad hoc loan management and reporting tasks.
- Create portfolio-level performance reports, presentations, and industry surveys for internal and external parties.
- Handle loan asset management and servicing matters including payoffs, prepayments, estoppels, lease reviews, SNDAs, reserves, escrows, draw requests, cash management, easements, financial reporting, inspections, post-closing items, and other borrowers’ requests requiring lender approval.
- Coordinate and handle mortgage compliance, data input, and information integrity.
- Analyze construction reporting by third-party consultants, including progress reports and change order requests
- Identify problem loans, develop monitoring plan, and recommend and execute loss-minimizing recovery strategies such as note sales, workouts, restructures, and/or foreclosure.
- Establish and implement process efficiencies, best practices, and standard operating procedures.
- Support other operational tasks and projects as needed.
- Additional duties as assigned.
At USAA Real Estate our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, educational and professional designation assistance, business casual dress attire and much more! Qualified applicants must successfully complete a pre-employment background and drug screen. The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.
USAA Real Estate Company is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.
- Bachelor’s Degree in Finance, Real Estate, Accounting, Business, or related field. Master’s Degree, CFA, or other designations a plus.
- High achiever with minimum 7 years of experience in loan asset management, surveillance and reporting.
- Extensive knowledge and experience underwriting, asset managing or financing all major commercial real estate product types (office, industrial, retail, multifamily). Basic underwriting knowledge of specialty property types (hotels, self-storage, and condominiums).
- Strong understanding of valuation process; highly capable of valuing all major commercial real estate product types via DCF. Mortgage loan workout experience a plus.
- Basic knowledge of all deal types (transitional, development, pre-development, repositioning, and stabilized properties) and complex debt positions (participations, syndications, CLO’s/CDO’s).
- Ability to create complex financial models in Excel or similar programs.
- Extreme attention to detail; ability to work in fast-paced environment independently running multiple tasks under tight deadlines.
- High-speed, organized, initiative-taking team player with strong critical thinking skills.
- Excellent verbal, written, and non-verbal communication skills. High emotional intelligence.
- Significant proficiency using Argus, MS Word, Excel and PowerPoint.
- Strong organizational and time management skills.
- Ability to travel. Ability to regularly work extended hours.
- Must be willing to work on-site and show proof of COVID-19 vaccination (or request and receive an authorized exemption).
- Qualifications may warrant placement in different job title.
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