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Situs

Assistant Vice President / Vice President, Loan Administration

Salary
Competitive
Employment
Full Time
Real Estate Field
  • Asset / Portfolio Management
Location
Plymouth Meeting
 PA
Postal Code
19462
Country
United States

This job is no longer active.

Description


Situs Asset Management is a market leader in providing primary servicing, performing loan asset management and special servicing for investors who require superior commercial real estate insight across all property types in the US and Europe. Our clients and partners typically consist of insurance companies, large banking institutions and private equity, opportunity and hedge funds who retain credit risk in senior and subordinate loan structures, including mezzanine, A/B subordinated positons, participations, collateralized loan obligations (CLOs) and commercial mortgage-backed securities (CMBS).

 

We are currently seeking a highly-motivated, detail-oriented qualified Analyst- or Associate- level candidate to join our Portfolio Management / Loan Administration team in Plymouth Meeting, PA for a potential long-term client engagement.

 

In this role, you will support Senior Portfolio Managers /Loan Administrators in the day to day administration of a diverse portfolio of commercial real estate ("CRE") loan and debt financings including construction/renovation loans, syndications, CMBS, secured and unsecured debt transactions, multi-currency and project financings. As a member of Portfolio Management, you will work alongside colleagues in Asset Management, Loan Administration and Servicing, and see the full breadth of activities required to manage a diverse, complex commercial real estate loan portfolio. The role is focused on supporting Senior Portfolio Managers and Asset Management colleagues to process and administer CRE loan terms documentation and funding requirements, including monthly waterfall calculations, cash management processing, payoffs, manage escrows and reserve balances, as well as respond to client, loan participant and Asset Management team inquiries. In addition, you will have an opportunity to develop and grow professionally and hone your skills in support of streamlining workflow processes, addressing borrower inquires, and the application of industry best practices – designed to allow you to progress and take on the full breadth of Loan Administrator duties and be assigned full responsibility for a portfolio of assets as you gain more and more experience.

 

At SitusAMC, we believe that an environment of constant learning, collaboration and personal connections are essential and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel valued here.

 

Sample Responsibilities:

  • Assist in analyzing and interpreting loan documents and providing advice and direction to the Asset Management Team and Loan Operations teams

  • Monitoring reserve and escrow accounts to ensure borrower compliance with governing documents including provisions related to budget, taxes, insurance, collateral and future funding
  • Reviewing disbursement requests, monitoring draw procedures, managing flow of funds mechanics and internal loan administration
  • Monitoring of construction loans including review of budgets, back-up documentation, title updates, and inspection reports. Periodic travel to inspect construction projects.
  • Performing monthly loan-level waterfall calculations and cash management processing including the monitoring of income, operating budgets and leasing status
  • Coordinate new portfolio and new loan servicing including collection of all necessary loan documents, obtaining contact information for all relevant parties and ensuring accurate boarding in the loan servicing system.
  • Reconcile and review various reports including billing statements, release statements, payoff statements and remittance reports as required to ensure Hanover’s high standards are achieved in terms of quality, accuracy and completeness.
  • Update and monitor loan specific information in the loan servicing system
  • Flexibility in schedule with respect to meeting time sensitive client needs
  • Handle the collection and remittance of payments
  • Verification and payment of taxes and insurance
  • Calculating property/unit release prices and monitoring releases
  • Portfolio reporting
  • Coordination with asset managers, borrowers, co-lenders and third-party vendors

Core Competencies for this role:

  • Strong analytical, problem solving and computer skills with a thorough knowledge of excel
  • Thorough understanding of loan documents, particularly budget, taxes, insurance, collateral and future funding provisions; as well as payment structures and covenants
  • Excellent written, verbal and electronic communication skills with attention to detail
  • Work in a team environment yet think independently and generate quality work product with little supervision
  • Manage multiple priorities and meet multiple deadlines
  • Ability to approach work from more of a “transaction” basis versus “task” basis
  • Understanding of real estate finance including debt and equity structures

Skills:

  • Excellent reading and comprehension skills
  • Ability to communicate effectively both written and verbal
  • Analytical skills to understand complex commercial loan documents
  • Strong organizational and time management skills
  • Ability to work independently on projects and also collaborate ‘face to face’ as a team player
  • Ability to work in fast-paced environment running multiple tasks under tight deadlines

Advanced knowledge of the following is required:

  • MS Office Suite including Outlook, Excel, and Word.
  • MS Excel – Intermediate to Advanced

Required Work experience requirements

  • Minimum 1+ years of experience in Commercial Real Estate, Loan Servicing/Administration, Corporate Trust or Community Development or related field
  • Construction loan experience desirable
  • Knowledge of cash management and waterfalls preferred

 

 

About SitusAMC

SitusAMC is the leading provider of consulting, outsourcing, talent and technology solutions, supporting institutional lenders and investors, across the life cycle of commercial and residential real estate debt and equity. We bring together the industry’s top talent, an unparalleled platform and innovative technologies to help clients optimize returns, identify risk, transform processes and infrastructure, and ultimately, realize opportunities in their businesses. We currently employ more than 3,300 employees with offices in 27 markets across the U.S., Europe and APAC.

 

We are an equal opportunity employer (m/f/d/v).

This Employer Participates in E-Verify

 

Job Functions


  • Construction
  • Mortgage
  • Portfolio Management
 

Job Sector


Not specified

 

Experience


5+ to 7 years


This job is no longer active.

 
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