Asset Manager

Merchants Capital; Chicago (IL); On-site; USD 99,000 - 112,000; Full time

Benefits offered by this job

401(k) employer contributions

ESOP

Medical, dental and vision insurance

Paid time off and holidays

Job summary

Merchants Capital is seeking an Asset Manager to oversee a portfolio of multifamily loans, ensuring compliance with loan terms and regulations while monitoring performance and risk. You will engage with borrowers, analyze cash flow projections, and guide the path to permanent financing or exit strategies.

The role is an individual contributor position with client-facing responsibilities, requiring collaboration with cross-functional teams and potential mentoring of Analysts.

Qualifications

• Minimum of three (3) years of industry experience in real estate asset or portfolio management.
• Organized, detail-oriented with a personable demeanor for customer experience.
• Problem-solving with a self-start mentality under deadlines.
• Excellent written and verbal communication skills.
• Strategic thinking with data interpretation to manage risk.
• Requires a Bachelor’s in finance, accounting, real estate or related field.

Responsibilities

• Manage borrower relationships on a portfolio of multifamily loans.
• Maintain detailed knowledge of each deal to ensure loan document compliance.
• Review and approve quarterly financial analysis for all deals.
• Approve repair/rehab draw requests and escrow disbursements.
• Ensure hedge compliance for rate swaps/caps and related disbursements.
• Conduct covenants testing and credit analysis for extensions/modifications.
• Escalate issues to Credit Committee and executive management.
• Risk-rate all loans in portfolio quarterly.
• Perform site visits as needed.
• Monitor maturities and coordinate refinancing strategies.
• Collaborate with Loan Origination on permanent refinancing options.
• Assist Capital Markets with investor-related requests.

Skills

Borrower relationship management

Portfolio knowledge

Financial analysis

Credit risk assessment

Covenants testing

Communication skills

Education

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

Tools

Financial analysis software

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. A successful Asset Manager in IRE Asset Management will ensure optimal performance and credit policy and loan compliance of a portfolio of loans by diligently monitoring loan terms and regulations, conducting monthly risk assessments and guiding the path to permanent financing or alternative exit. This position plays a critical role in maximizing asset value and minimizing risk exposure. 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 & elevate 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 Chicago, IL is $99,000 - $112,000 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

• 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.