PRI Asset Manager

PNC Bank
Washington, DC
Oct 15, 2020
Oct 19, 2020
Full Time
Job Profile Position Overview At PNC, our people are our greatest differentiator and competitive advantage in the markets we serve. We are all united in delivering the best experience for our customers. As an Asset Manager within PNC's PNC Realty Investors, Inc. (PRI) organization, you will be based in Washington, DC. PRI is the real estate investment advisor retained by PNC Bank, N. A., to manage a client s national commercial real estate portfolio comprising approximately 60 properties with a net asset value of approximately $5 billion. As an Asset Manager, you will assume ownership of the issues associated with the assets in your assigned portfolio, potentially including both stabilized assets and assets under development. Responsibilities include: Preparing the annual strategic plan for each asset including developing leasing objectives, operating and financial budgets, and capital plans. With an appropriate sense of urgency, evaluating and resolving property operating issues and developing and implementing leasing strategies with third-party property management and leasing firms. Monitoring and reporting on asset operational and financial performance on an ongoing basis. Negotiating, reviewing and approving tenant lease documents and other asset-related agreements. Contributing to the preparation of quarterly asset valuations (appraisal reviews), performance reforecasts, and joint venture waterfalls. Preparing reports on your book of business and responding to special requests for information from internal and external clients, both through informal interactions and formal presentations. Developing, maintaining and leveraging relationships with partners/developers to achieve asset-specific strategies consistent with the clients objectives. Engaging and directing third-party vendors, including contractors, property managers and leasing firms. Performing site visits and developing a strong understanding of the real estate markets in which assets are located. Participating in team initiatives to improve policies and procedures, property monitoring, and risk management processes. For assets under development, tasks include continually monitoring the project s on time and on budget progress; reporting on assets under development through regularly scheduled and ad hoc phone calls, site visits, development updates, and monthly draw/requisition reviews; reviewing the appropriateness of change orders and/or project upgrades, and processing the documentation for approval as appropriate; effectively managing third party relationships with partners/developers, construction consultants, and other stakeholders and monitoring the partner s/developer s compliance with the transaction documents. Preferred skills/experience: Real Estate Asset Management experience, particularly Multi-Family experience. Strong analytical, interpersonal, relationship management, and written/oral communication skills. High comfort level assertively dealing with equity partners. Self-starter with an ability to work independently and to meet deadlines and manage multiple projects simultaneously. Skilled at discounted cash flow modeling, including experience with Argus. Skilled at using Word and Excel. Job Description Oversees performance of a portfolio of assigned assets. Monitors operations and implements actions to achieve expected investment returns. Performs extensive financial review and analysis. May provide guidance to team members. Manages and oversees operations and investment performance of a portfolio of assigned assets. Manages budgeting, business plans and disbursements related to assets in assigned portfolio. Independently engages third-party vendors, including property management firms and leasing brokers. Produces monthly reports on the portfolio of managed properties for various internal stakeholders. PNC Employees take pride in our reputation and to continue building upon that we expect our employees to be: Customer Focused - Knowledgeable of the values and practices that align customer needs and satisfaction as primary considerations in all business decisions and able to leverage that information in creating customized customer solutions. Managing Risk - Assessing and effectively managing all of the risks associated with their business objectives and activities to ensure they adhere to and support PNC's Enterprise Risk Management Framework. Competencies Accuracy and Attention to Detail Understanding of the necessity and value of accuracy and attention to detail; ability to process information with high levels of accuracy. Effective Communications Understanding of effective communication concepts, tools and techniques; ability to effectively transmit, receive, and accurately interpret ideas, information, and needs through the application of appropriate communication behaviors. Problem Solving Knowledge of approaches, tools, techniques for recognizing, anticipating, and resolving organizational, operational or process problems; ability to apply this knowledge appropriately to diverse situations. Real Estate Development Knowledge of real estate development; ability to manage different aspects of the real estate development function, including business development, methods of real estate, and operational processes. Regulatory Environment - Financial Services Knowledge of and ability to help an organization adapt to applicable federal, state, local, and company-specific regulations, policies, and guidelines affecting business practices. Relationship Management Ability to establish and build healthy working relations and partnerships with clients, vendors, and peers. Work Experience Roles at this level typically require a university / college degree, with 5+ years of industry-relevant experience. Specific certifications are often required. In lieu of a degree, a comparable combination of education and experience (including military service) may be considered. Education Bachelors Disability Accommodations Statement: The PNC workplace is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the PNC Careers website or submission process, please call 877- - and select Option 4: Recruiting or contact us via email at The Human Resources Service Center hours of operation are Monday - Friday 9:00 AM to 5:00 PM ET. Equal Employment Opportunity (EEO): PNC provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or other categories protected by law. California Residents Refer to the California Consumer Privacy Act Privacy Notice to gain understanding of how PNC may use or disclose your personal information in our hiring practices.