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The Manager will play a vital role within the Risk Mitigation team managing an assigned portfolio of multifamily loans requiring heightened surveillance and risk mitigation oversight. The Agency Manager will be responsible for managing communication to internal and external stakeholders including investors, vendors, and borrowers. They will be responsible for performing duties as necessary to support the goals and objectives of the Multifamily Asset Management platform. This position will report into a Senior Manager.
Job Responsibility:
Portfolio Oversight: Manage a portfolio of distressed multifamily agency assets, with a focus on developing loss mitigation strategies, based on complex analyses, financial performance, borrower net worth and liquidity, market conditions, collateral condition, and other risk metrics
Stakeholder Communication: present to executive leadership, and act as the primary point of contact for internal and external stakeholders, addressing concerns and providing clear, frequent updates on progress and strategy to ensure compliance with all loan documents and Agency requirements
Monitor monetary and non-monetary defaults and take swift action to mitigate risk
Prepare property and loan level valuations using various valuation methodology such as discounted cash flows, direct capitalizations, and have discussion with appraisers and brokers for value opinions
Conduct on-site property inspections on heightened risk rated loans as needed
Participate in monthly loan risk rating process using Capital One proprietary systems
Prepare ad hoc portfolio reports and analyses to report out risk, value, payment, workout and other necessary metrics
Identify operational opportunities to aid in promoting accuracy and efficiency
Workouts and Resolutions: Develop and implement workout strategies for underperforming assets, collaborating with internal and external stakeholders to maximize asset value and financial outcomes
Mentor, train and manage junior staff
Requirements:
Bachelor’s Degree or military experience
At least 5 years of experience in multifamily commercial real estate
At least 5 years of Agency GSE experience (Fannie Mae or Freddie Mac) or CMBS experience
At least 5 years of experience in Agency Asset Management
Nice to have:
Bachelor's Degree in Accounting, Finance, Business or Economics
6+ years of commercial real estate experience in Asset Management, Loss Mitigation or Watchlist Management
6+ years of experience analyzing property operating statements, rent rolls, and borrower financial statements
6+ years of asset management experience with managing Fannie Mae or Freddie Mac Agency property inspection experience
Highly developed analytical skills including the ability to create complex spreadsheets and mine data
Proficiency in analyzing property operating statements, rent rolls, and borrower financial statements and in modeling complex financial scenarios
Possession of exceptional communication, negotiation, credit, and interpersonal skills
Possession of strong analytical and problem solving skills
Proven ability to manage multiple complex situations under pressure and with a high degree of professionalism
Proficiency in Microsoft Office or Google Suite (Word, PowerPoint, Excel)
Mortgage Banker’s Association (MBA) Multifamily Property Inspections Certification
What we offer:
performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI)
comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being