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Commercial Real Estate Senior Asset Manager (Asset Mgr 2)

Employer
Wells Fargo
Location
Mclean, VA
Closing date
Mar 7, 2021
Job Description Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as 'Personal Cell' or 'Cellular' in the contact information of your application. At Wells Fargo, we want to satisfy our customers' financial needs and help them succeed financially. We're looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you'll feel valued and inspired to contribute your unique skills and experience. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you. Wholesale Banking provides financial solutions to businesses across the United States and globally. Our four major business lines include Corporate & Investment Banking, Commercial Banking, Commercial Real Estate, and Wells Fargo Commercial Capital. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses. Commercial Real Estate (CRE) operates throughout the United States, as well as Canada and the United Kingdom, to deliver a comprehensive platform of financing and banking products for experienced commercial real estate companies including balance sheet lending, CMBS origination and distribution, loan servicing, agency financing for multifamily properties, and debt and equity capital for affordable housing. Commercial Mortgage Servicing (CMS) is the industry leader and provider of real estate loan servicing in the United States, with global locations in India. CMS provides the best in class mortgage servicing for a variety of third party customers and stakeholders, including Commercial Mortgage Backed Securities (CMBS), Mortgage Backed Securities (MBS), US Government-Sponsored Entities (GSE), US Department of Housing and Urban Development (HUD), Interim Lenders, Specialized Warehouse Lenders, and Secondary-Market Lenders. CMS also provides loan and portfolio level asset management for SRE/Real Estate Capital markets (RECM) balance sheet loans and loan and facility level asset management for Commercial Mortgage Loan Finance (CMLF). Services include: payment and escrow processing, cash and treasury management, asset management and surveillance - loan covenants, borrower consent requests, and investor reporting and collateral administration. The Commercial Real Estate Asset Manager 2 within CMS is a senior position with overall responsibility for an assigned portfolio of Commercial Mortgage Backed Securities ('CMBS') securitizations and/or portfolio loans originated pursuant to the Freddie Mac programs and any related subordinate debt (ie junior participations, B-Notes, mezzanine debt). With support provided by various functional and operational groups and pursuant to the terms of the applicable Pooling & Servicing Agreement or equivalent and demonstrated knowledge of the Freddie Mac Servicing Guide. The incumbent will monitor the portfolio for potential or imminent defaults and proactively communicate relevant pre-default information to the special servicer and/or the controlling holder. The Asset Manager will manage relationships with subordinate debt holders, borrowers and all CMBS deal stakeholders through proactive communications and an understanding of the differing goals and needs of the various parties. In addition, the Asset Manager will monitor and communicate any potential operational risk to senior management. Additional responsibilities for this position include, but are not limited to: Quarterly review and analysis of property-level financial statements and rent rolls, Review of operating budgets; Monthly creation and/or review of the CMSA Watch List and Property re-underwriting when appropriate to make credit decisions. All loan level and deal level credit decision making All portfolio surveillance information that is provided to the various deal stakeholders Providing support to a team of surveillance analysts Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements. Required Qualifications 5+ years of underwriting or asset management experience in one or a combination of the following: Commercial Mortgage Backed Securities (CMBS), multifamily/agency commercial real estate, commercial real estate investment, low-income housing tax credit investment or commercial real estate balance sheet lending Desired Qualifications Customer service focus with experience actively listening, eliciting information, comprehending customer issues/needs, and recommending solutions Excellent verbal, written, and interpersonal communication skills Extensive knowledge and understanding of credit and income producing real estate Strong attention to detail and accuracy skills Ability to read and understand basic commercial real estate loan or real estate investment documentation, securitization documents, including pooling and servicing agreements and related documentation Other Desired Qualifications Experience in reviewing and analyzing complex loan documents, intercreditor documents and deal documents Strong credit and risk management exposure Strategic thinker capable of critically evaluating stakeholder value Must be detail oriented, highly motivated and possess effective verbal and written communication skills Must demonstrate leadership competencies, initiative and ability to work independently Fundamental knowledge of real estate and demonstrated ability of commercial CMBS Disclaimer All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act. Relevant military experience is considered for veterans and transitioning service men and women. Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation. Benefits Summary Benefits Visit for benefits information.

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