Associate Portfolio Manager

About the role

Northmarq is seeking an experienced Associate Portfolio Manager to join its Bloomington, MN headquarters office. This position requires a deadline-driven, service-focused, and detail-oriented individual who will be responsible for various tasks related to commercial mortgage risk management and customer service.

Responsibilities

• Manage a portfolio of more complex commercial real estate loans and support senior team members with key tasks on more complex commercial real estate loans.
• Work with a diverse range of Life Insurance lenders, companies, private clients, and investment lenders, providing a personalized, client-centric experience tailored to each lender's specific guidelines and requirements.
• Provide premier customer service to lenders, borrowers, other servicing staff, and regional offices.
• Maintain and update monthly loan reports utilized by investors and management to analyze portfolio risk.
• Audit new loan boarding and setup to ensure loan terms and covenants were accurately captured in the servicing system.
• Support Portfolio Managers and Senior Portfolio Managers with consent requests and various Lender requirements.
• Analyze annual and quarterly financial statements for multifamily and commercial properties in accordance with the requirements of various Life Insurance Company Lenders and other investors.
• Review and make recommendations for releases from reserves, including replacement, repair, capital expenditure, TI/LC, and insurance loss.
• Analyze and make recommendations for lender consent of borrower requests, including lease approvals, maturity extensions, partial releases/substitutions of collateral, easements, condemnations, ownership transfers, loan assumptions, etc.
• Follow up with borrowers to resolve any post-closing deferred maintenance items or other high-risk items identified during the annual inspection.
• Process insurance loss requests, manage proceeds, and monitor the restoration of the property.
• Calculate and coordinate loan payoff requests, including yield maintenance calculations.
• Monitor and collect outstanding mortgage payments, carefully documenting collection efforts.
• Perform financial covenant testing calculations including NOI, DSCR, debt yield, etc.
• Grow and develop strong relationships with Northmarq’s Life Insurance Company Lenders.
• Provide training and mentoring across teams on areas of expertise, including analysis, underwriting, and general CRE knowledge.
• Serve on procedure committees, updating policies and procedures for Portfolio & Asset Management.

Qualifications

• Education: Bachelor’s Degree, preferably in finance, real estate, or accounting.
• Experience: 3-6 years of experience in finance or accounting, finance asset management, or commercial lending.
• Technical Competencies: Proficient in Microsoft Outlook, Excel, and Word with strong technical skills to support daily operations and reporting needs. Knowledge of commercial real estate finance and commercial loan terminology.
• Professional Competencies: Demonstrated expertise in financial modeling and analytical skills, exceptional written and verbal communication skills, ability to deliver outstanding customer service, highly organized and adept at managing multiple priorities, proven ability to work independently and collaboratively, strong attention to detail, and commitment to producing accurate, high-quality work. Resourceful and proactive in identifying and resolving challenges.

Benefits

• Medical, dental, vision, paid time off, 401K match, and an annual discretionary contribution based on business performance.
• Paid parental leave and adoption assistance, education assistance, volunteer paid time off, charitable contribution match, and more!

Pay

The salary range for the Associate Portfolio Manager position is $85,000.00 to $100,000.00 annually. This range is a good faith estimate and the actual compensation that is offered to a successful candidate will depend on the candidate's skills, qualifications, and experience.

Schedule

This role supports a flexible schedule that prioritizes in-office teamwork, with flexibility for remote work when appropriate.