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Senior Asset Manager
Prudential Securities
Dallas, TX, United States
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Description
Prudential Asset Resources (“PAR”) is a subsidiary of PGIM Real Estate Finance (“PGIM REF”) and one of the largest commercial and multifamily mortgage servicing firms in the nation. Assets under management include CMBS, Fannie Mae, Freddie Mac, FHA, and insurance company general account loans. The Company is a rated Primary, Master and Special Servicer. PGIM Real Estate Finance is a diversified mortgage lender with a 125-year commitment to the commercial real estate market and an expanding global reach.
PAR is seeking a Senior Asset Manager for the International Portfolio. This position will be located in Dallas, Texas. Strong communication skills are required as the candidate will interact daily with borrowers, business partners, and third parties around the globe during a pivotal point of growth for the portfolio. The successful candidate will be responsible for independently managing a complex portfolio of foreign currency-denominated commercial mortgage loans with minimal supervision. The candidate must possess strong negotiation and credit skills to assess and manage risk, produce decisive credit action recommendations (e.g., modifications, property substitutions, assumptions, borrower reorganizations, etc.) and ensure loan covenant compliance. The candidate is to provide superior customer service while working under tight deadlines and creating efficiencies when possible. The candidate must promote trust with all stakeholders, be energetic and have an ownership mindset of the assigned portfolio.
Responsibilities:
Credit Actions:Perform property and corporate financial analysis, market surveys, document review and other due diligence necessary to produce prompt, well written and supported case recommendations for complex borrower requests. Transactions involve varied debt structures of commercial real estate loans located throughout Europe, Australia, and Canada. Borrower requests may include assumptions, modifications, partial releases, property substitutions, partial ownership transfers (corporate restructures), lease approvals, easements, relocation of bank accounts, reserve disbursements, insurance losses, and property management changes. The candidate must have excellent writing skills, be detail oriented and focused on accuracy.
Triggers:Ensure loan covenant compliance requirements are managed timely and effectively including initial input, post-closing monitoring, maintenance of collateral, and debt service thresholds.
Watchlist:Provide written analysis identifying key trends and issues noting any corresponding mitigates. Recognize broad implications of process and take initiative to improve quality of reporting and early detection of issues. Possess the ability to identify loans for addition or removal from the watchlist and to concisely communicate relevant issues, remedies and mitigates with executive management.
Build synergies with both internal and external groups such as originations, legal, compliance, servicing, accounting, and third-party vendors to create efficiencies and transparency. Take initiative to continually improve the integrity of portfolio information and standardized reporting while ensuring the highest quality case recommendations and watchlist. Proactively identifies and leads implementation of innovative & practical solutions.
Treats talent as a strategic differentiator and is personally invested in the success of others. Shares talent to effectively mobilize resources to achieve intended results. Continually develops knowledge and skills (including mentor and coaching others) that positively impact performance.
Qualifications
• Bachelor’s degree in Real Estate, Finance, or a related field required with 5 to 8 years commercial real estate lending experience.
• Prior experience with commercial real estate finance in Canada, Europe and/or Australia is preferred.
• Solid understanding of commercial real estate finance and experience with interpreting and enforcing loan documents of varying complexity.
• Basic understanding of corporate or fund financial reporting.
• Superior written and oral communication skills are required.
• Superior analytical and problem-solving skills are required.
• Strong interpersonal/customer service skills are essential with the ability to build and maintain relationships with internal and external parties in other countries.
• Strong organizational skills required with the ability to appropriately prioritize, multi-task, work both independently and collaboratively in a time sensitive environment where meeting established deadlines is critical.
• Self-starter/motivated and detail oriented.
• Personal Computer Skills (Office 365, proprietary databases, online banking and document sharing portals).