Asset Manager

Merchants Capital; BLOOMINGTON (MN); On-site; USD 94,000 - 107,000; Full time

Benefits offered by this job

401(k) contributions

ESOP

Medical, dental & vision insurance

Paid time off & holidays

HSAs/FSAs

Life insurance & AD&D

Telehealth

Job summary

Merchants Capital in Bloomington, MN seeks an Asset Manager, IRE to oversee a portfolio of multifamily loans and ensure compliance with loan terms and regulations. You will monitor asset performance, manage extensions and modifications, and support capital markets with data-driven insights.

The role is an individual contributor with client-facing responsibilities, requiring strong analytical, credit, and communication skills to deliver high-quality service to borrowers and internal teams.

Qualifications

• Minimum of three years of industry experience in real estate asset or portfolio management.
• Organized, detail-oriented approach with strong customer service.
• Problem-solving with ability to work under pressure and meet deadlines.
• Excellent written and verbal communication skills with active listening.
• Strategic, creative thinking to interpret data for risk management.
• Bachelor's degree in finance, accounting, real estate or related field.

Responsibilities

• Manage borrower relationships on a portfolio of multifamily loans on balance sheet or via participations, sales or securitizations.
• Maintain working knowledge of each deal to ensure loan document compliance.
• Review and approve quarterly financial analysis for all deals in the portfolio.
• Review repair/rehab draw and escrow disbursement requests from reserves.
• Ensure hedge (swap/cap) compliance and approve related disbursements.
• Perform covenants compliance testing per loan agreements.
• Conduct credit analysis for extensions/modifications, analyzing cash flow and risks.
• Escalate issues at Escalation Meetings and present to Credit Committee.
• Risk-rate all loans quarterly and perform site visits as needed.
• Monitor maturities and coordinate refinancing strategies with origination team.
• Assist Capital Markets with ad hoc investor requests.

Skills

Portfolio management

Credit analysis

Financial analysis

Client relationship management

Regulatory compliance

Education

Bachelor's degree in finance, accounting, real estate or related field

Job description

Description

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, oversee loan extensions and modifications, earn-outs, cash management, monitor interest rate hedging, conduct financial reviews, tracking the path to permanent financing, conducting risk assessments and ongoing credit monitoring while providing exceptional customer service. The Asset Manager position is an individual contributor role with client-facing communication responsibilities.

No direct supervisory responsibilities but will be relied on to assist with training and mentoring of Asset Management Analysts.

Job Type

Full-time

Requirements

• 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.

Expected Experience, Skills And Education

• Minimum of three (3) years of industry experience required in real estate 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.

Pay Range

The total compensation pay range for new hires in Bloomington, MN is $94,000 - $107,000 annually. This range includes a base pay, plus an annual discretionary bonus. The amount of any actual bonus may vary and is subject to individual and company performance. Please note that the pay range provided is a good faith estimate of total compensation for the position at the time of posting. Actual total compensation will be dependent on factors, including but not limited to, the individual’s qualifications, experience, knowledge, skills, and abilities.

Our Benefits

Merchants 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

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. To learn more about Merchants Capital, visit www.merchantscapital.com.