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. This individual contributor role involves client-facing communication and plays a critical role in maximizing asset value and minimizing risk exposure. While there are no direct supervisory responsibilities, the Asset Manager will assist with training and mentoring Asset Management Analysts.

Responsibilities

• Manage borrower relationships 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 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 interest rate swap and cap compliance, and 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 the portfolio every quarter.
• Perform site visits as necessary.
• Monitor maturities within the assigned portfolio and identify & escalate concerns for timely payoff/conversion.
• Collaborate with the Loan Origination team and the client on strategic direction for structuring permanent refinancing options.
• Coordinate with Borrowers on refinancing efforts or default management.
• Assist the Capital Markets team with ad hoc requests and questions from investors.

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 approach with a personable demeanor to deliver high-quality customer service.
• Strong problem-solving skills with a self-start mentality, capable of responding well to work pressure and urgent deadlines.
• Excellent written and verbal communication skills, with active listening and appropriate response abilities.
• Encourages strategic, creative thinking with experience interpreting data and analysis to support innovative risk management applications.

Pay

The total compensation pay range for new hires in Chicago, IL is $99,000 - $112,000 annually. This range includes base pay plus an annual discretionary bonus. The amount of any actual bonus may vary and is subject to individual and company performance.

Benefits

Merchants offers a comprehensive package of benefits for eligible employees, including:

• 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, 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, and supplemental life and AD&D insurance
• Telehealth and optional ancillary insurance policies
• Education assistance
• Employee Assistance Program

Eligibility for benefits is governed by the applicable plan documents and policies.

About Merchants Capital

With over 30 years of success built on putting people first, Merchants Capital 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, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners.