Asset Manager

The Asset Manager, IRE is an individual-contributor role responsible for the management and oversight of a portfolio of multifamily loans, ensuring compliance with loan terms and regulations. This position involves client-facing communication and plays a critical role in maximizing asset value while minimizing risk exposure.

Responsibilities

• Manage borrower relationships for a portfolio of multifamily loans on the Bank’s balance sheet or off-balance sheet through participations, sales, or securitizations.
• Maintain detailed knowledge of each deal within the assigned portfolio to ensure compliance with loan documents.
• Review and approve quarterly financial analysis for all deals in the portfolio.
• Review and approve repair/rehab draw requests and escrow disbursement requests from reserves held by Merchants Capital Corporation.
• For loans with an interest rate hedge, ensure compliance with interest rate swaps and caps, and review/approve disbursements from swap or cap escrow accounts.
• Perform covenants compliance testing in accordance with loan agreements.
• Conduct credit analysis for loan extensions and modifications, analyzing cash flow projections based on in-place rents and expenses compared to market conditions, and identify risks and mitigants.
• Escalate deal issues through monthly Escalation Meetings and present them to the Credit Committee and executive management team.
• Risk-rate all loans in the portfolio quarterly.
• Perform site visits as necessary.
• Monitor maturities within the assigned portfolio and escalate concerns for timely payoff or conversion.
• Collaborate with the Loan Origination team and clients on strategic refinancing options.
• Coordinate with borrowers on refinancing efforts or default management.
• Assist the Capital Markets team with ad hoc requests and investor inquiries.
• Contribute to training and mentoring of Asset Management Analysts.

Requirements

• Minimum of three (3) years of industry experience in real estate asset or portfolio management.
• Bachelor’s degree in finance, accounting, real estate, or a related field.

Skills

• Organized, detail-oriented, and able to balance workload with a personable demeanor to deliver high-quality customer service.
• Strong problem-solving skills with a self-starting mentality, capable of handling work pressure and urgent deadlines.
• Excellent written and verbal communication skills, with active listening and appropriate response capabilities.
• Encourages strategic, creative thinking and experience interpreting data to support innovative risk management approaches.

Pay

The total compensation pay range for new hires in Bloomington, MN is $94,000 - $107,000 annually. This range includes base pay plus an annual discretionary bonus, which varies based on individual and company performance.

Benefits

• 401(k) employer contributions.
• Employee Stock Ownership Plan (ESOP).
• Medical, dental, and vision insurance.
• Paid time off, paid holidays, and paid leave as provided under state and local laws.
• Short-term and long-term disability.
• Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), dependent care, and commuter reimbursement accounts.
• Employee and dependent life insurance, plus supplemental life and AD&D insurance.
• Telehealth services.
• Optional ancillary insurance policies.
• Education assistance.
• Employee Assistance Program (EAP).

About the Company

With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Licensed with Fannie Mae, Freddie Mac, and HUD/FHA, as well as offering bank balance sheet products, Merchants Capital provides custom solutions with agility and ease of execution. Recognized as a top five affordable lender, the company pairs comprehensive debt offerings with in-house tax credit equity to offer a one-stop-shop for developers and owners.