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Asset Manager
Transamerica US
Chicago, IL, United States
Job Details - this job has expired, please see similar jobs below
Job Family
Asset Management
Job Description Summary
Company Overview:
This position will be with AEGON Asset Management, the organization which oversees asset management for many of Transamerica's insurance and operating companies as well as third party clients. The global AEGON Asset Management organization has operations in Europe, the United States and Asia. Primary offices in the United States are located in Cedar Rapids, IA, Chicago, IL and Baltimore, MD. AEGON Asset Management and Transamerica are both part of the AEGON NV group of companies. The legal entities that comprise AEGON Asset Management US are AEGON USA Realty Advisors, LLC and AEGON USA Investment Management, LLC. AEGON USA Realty Advisors, LLC manages commercial real estate, commercial mortgage loans and other real estate related investments. AEGONUSA Investment Management, LLC, is a registered investment adviser that manages fixed income assets, including public bonds, private placements, derivatives and alternative investments.
Position Overview:
This position is for an Asset Manager, managing primarily low income housing tax credit (LIHTC) equity investments in our multi-family housing portfolio. Under the supervision of the Portfolio Manager or Senior Asset Manager, this position, on behalf of the client, and through application of portfolio analysis and in-depth decision-making, is accountable for the ongoing performance, credit monitoring and risk mitigation of a portfolio of tax credit and market rate equity investments. The Asset Manager will manage a portfolio of housing developments through the oversight of a third party management company, site visits, financial review, compliance review, as well as maintaining relationships with developer partners and vendors. In addition, the Asset Manager will focus on the review and analysis of property level financial data for their portfolio, including annual operating budgets, quarterly financial statements, residual receipts analysis, year-end audited financial statements and tax returns. The Asset Manager will also assist the department on special projects related to partnership reporting, strategic workouts and exit strategies.
Responsibilities:
• Provide a single point of contact with partners and internal departments regarding assigned assets
• Independently manage a portfolio of investments in real estate partnerships
• Identify and analyze issues, and recommend and execute action plans
• Monitor and report on investment and property performance
• Analyze tax returns and property and sponsor financial statements
• Review third-party reports and reports on compliance with Low Income Housing Tax Credit (LIHTC) regulations
• Review requests for capital contributions and reserve releases
• Underwrite general partner consent requests (including loan refinances and changes in partnership structures)
• Perform site visits
• Assess markets in which assets reside, identify market and sub-market risks and issues
• Negotiate and execute the exit from the investment partnerships
• Track any work outsourced to third parties.
• Monitor and track construction progress including; approve change orders, monitor and manage budget and schedule timelines
• Track lease-up schedule, including; receipt of 8609’s, credit calculation, calculation of adjusters, tracking of construction and perm debt commitments and confirmation of debt sizing
Required Qualifications:
Four year degree in a commercial real estate and/or finance oriented area or minimum 3 years experience in one of the following areas: Asset Management, Property Management, Mortgage Lending, Commercial Property Acquisitions, or Commercial Real Estate Brokerage.
Preferred Qualifications:
• CCIM, CPM or MBA
• Experience in Low Income Housing Asset Management, asset management or underwriting
Job and compensation levels depend upon an applicant’s qualifications including the extent of his/her relevant experience and other job related factors and will be determined by hiring supervisors/managers and HR.
Why Work for Us
Total Rewards at Transamerica: It’s more than a paycheck.
Our comprehensive Total Rewards package is designed to help support you in many ways — throughout all stages of your life and career. We provide a competitive, market-driven program that encompasses base compensation, bonus potential, retirement, health and wellness benefits, learning and development opportunities, plus great employee perks. All designed with you in mind… to help you live your best life, grow personally and professionally - and feel valued for the work you do.
Learn more about our Total Rewards Package.
Equal Opportunity Employer:
Transamerica Life Insurance Company is an Equal Employment Opportunity employer and does not discriminate against any applicant or employee because of age, religion, sex, gender identity, genetic information, race, color, national origin, pregnancy, sexual orientation, marital status, participation in the uniformed services (e.g. U.S. Armed Forces, National Guard), physical or mental disability, or any other status protected by federal, state, or local equal employment opportunities laws.
AEGON USA Realty Advisors, LLC, is an Equal Employment Opportunity/ Affirmative Action Employer and does not discriminate against any applicant or employee because of age, religion, sex, gender identity, genetic information, race, color, national origin, pregnancy, sexual orientation, marital status, participation in the uniformed services (e.g. U.S. Armed Forces, National Guard), physical or mental disability, or any other status protected by federal, state, or local equal employment opportunities laws.
Applicants with physical or mental disabilities may be entitled to a form of reasonable accommodation under the Americans with Disabilities Act and certain state and local laws. A reasonable accommodation is a change in the way things are normally done which will insure equal employment opportunity without imposing undue hardship on the Transamerica Companies.
Ontario Applicants:
Our Company is committed to providing accessibility to those with disabilities in a manner that is consistent with the principles of independence, dignity, integration and equality of opportunity, that is in compliance with the Accessibility for Ontarians with Disabilities Act 2005 ("AODA").