Senior Asset Manager, Special Assets (Distressed Multifamily Loans)

About the role

The Senior Asset Manager oversees, analyzes, and resolves a portfolio of high-risk, delinquent, and non-performing multifamily loans, with a focus on affordable housing, LIHTC, Agency, and Non-Agency products. This role independently manages complex distressed assets, develops workout strategies, and partners with Legal, Credit, and Servicing to support restructurings, enforcement actions, and loss-mitigation strategies. The Senior Asset Manager also guides junior team members, promoting consistency in analysis, documentation, and overall asset management practices.

Responsibilities

• Manage a portfolio of high-risk, delinquent, watchlist, and non-performing multifamily assets, ensuring proactive monitoring of performance, covenant compliance, and collateral condition.
• Evaluate borrower financial strength, property performance, and business plans to assess credit risk, identify potential issues, and determine appropriate risk mitigation strategies.
• Develop and execute asset-level workout strategies, including forbearance agreements, loan restructurings, repayment plans, and, where necessary, enforcement actions.
• Partner with Legal and external counsel to manage enforcement processes such as receiverships, foreclosure, litigation, and negotiation of workout and restructuring documentation.
• Serve as the primary point of contact for complex and distressed assets, leading borrower discussions, managing investor communications, and coordinating with internal stakeholders.
• Prepare clear and concise credit memos, risk assessments, and recommendations to support decision-making by senior leadership and credit committees.
• Maintain accurate and timely asset-level data and reporting within servicing systems, ensuring transparency and consistency across tracking tools and dashboards.
• Monitor portfolio performance to identify early warning indicators and escalate emerging risks with recommended actions.
• Support portfolio-level reporting and analysis, including identification of trends, risk concentrations, and performance insights.

Requirements

• Bachelor’s degree required (Finance, Real Estate, or related field preferred).
• 5–7+ years of experience with strong knowledge of multifamily asset management and non-performing loans, including Agency and Non-Agency products (experience with LIHTC preferred).
• Proven ability to manage complex assets and deliver clear, well-supported credit recommendations in a dynamic environment.
• Proficiency in financial analysis, valuation concepts, and risk assessment, including experience evaluating cash flow, collateral performance, and business plans.
• Strong communication, organizational, and negotiation skills, with the ability to effectively engage borrowers, investors, legal counsel, and internal stakeholders.
• Able to manage multiple priorities and drive outcomes in a fast-paced, high-accountability environment.

Skills

• Bachelor’s degree required (Finance, Real Estate, or related field preferred).
• 5–7+ years of experience with strong knowledge of multifamily asset management and non-performing loans, including Agency and Non-Agency products (experience with LIHTC preferred).
• Proven ability to manage complex assets and deliver clear, well-supported credit recommendations in a dynamic environment.
• Proficiency in financial analysis, valuation concepts, and risk assessment, including experience evaluating cash flow, collateral performance, and business plans.
• Strong communication, organizational, and negotiation skills, with the ability to effectively engage borrowers, investors, legal counsel, and internal stakeholders.
• Able to manage multiple priorities and drive outcomes in a fast-paced, high-accountability environment.

Benefits

This is a remote role available in Missouri, Kansas, and Texas. Periodic travel to our Manhattan or Chappaqua, NY office may be required.

Pay

The salary range is $95,000 – $110,000, dependent on experience.

Schedule

This is a full-time role.