Asset Manager

About the role

The Asset Manager, IRE is responsible for the management and oversight of a portfolio of multifamily loans, ensuring compliance of loan terms and regulations. The Asset Manager will be exposed to a variety of lending products and will be tasked with monitoring the performance of all assets within the portfolio, overseeing loan extensions and modifications, earning-out, cash management, monitoring interest rate hedging, conducting financial reviews, tracking the path to permanent financing, conducting risk assessments and ongoing credit monitoring while providing exceptional customer service.

Responsibilities

• Manage borrower relationship on a portfolio of multifamily loans on the Bank’s balance sheet or off-balance sheet through participations, sale or securitizations.
• Maintain a detailed working knowledge of each deal within the assigned portfolio to ensure compliance with loan documents.
• Review and approve quarterly financial analysis for all deals in portfolio.
• Review and approval of repair/rehab draw requests and escrow disbursement requests from reserves held by Merchants Capital Corporation.
• For loans with an interest rate hedge in place, ensure interest rate swap and cap compliance, review and approve any disbursements from the swap or cap escrow accounts.
• Perform covenants compliance testing in accordance with the loan agreement.
• Conduct credit analysis for loan extensions and modifications, analyzing cash flow projections based on in-place rents and expenses compared to the market, and identify main risks and mitigants to the transaction.
• Escalate issues on deals through the monthly Escalation Meeting and present issues to Credit Committee and executive management team.
• Risk rate all loans in portfolio every quarter.
• Perform site visits as necessary.
• Monitor maturities within the assigned portfolio and identify & escalate if concerns arise for timely payoff/conversion.
• Collaborate with the Loan Origination team the client on strategic direction for structuring of the permanent refinancing options.
• Coordinate with Borrowers on refinancing efforts or default management.
• Assist Capital Markets team as needed with ad hoc requests and questions from the investors.

Requirements

• Minimum of two (2) years of industry experience preferred with an emphasis on asset or portfolio management.
• Requires an organized, detailed-oriented approach to work balance with a personable demeanor effective at delivering high-quality customer experience.
• Problem-solving skills with a self-start mentality that responds well to work pressure and urgent deadlines.
• Excellent written and verbal communication skills with an ability to actively listen and respond appropriately.
• Encourages strategic, creative thinking with experience overseeing the process of interpreting data and analysis to support the development of new and innovative applications to managing risk.
• Requires a minimum of a Bachelors in finance, accounting, real estate or related field.

Benefits

Mercers offers a comprehensive package of benefits for eligible employees, including, but not limited to: 401(k) employer contributions; employee stock ownership plan (ESOP); medical, dental and vision insurance; various types of leaves of absence, including paid time off, paid holidays, paid leave as provided under state and local paid leave laws, and 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 and supplemental life and AD&D insurance; telehealth, optional ancillary insurance policies, education assistance, and an employee assistance program.

About Merchants Capital

Mercers is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Mercers pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners.