AVP, Risk Management

Job Purpose

The AVP, Risk Management, is responsible for managing the Special Servicing of a portfolio of Agency (Freddie Mac and/or Fannie Mae) loans, which are in default or considered to be in imminent default. The position requires proactive asset management and timely resolution of the assigned portfolio of distressed CRE mortgage loans. The primary function of the Special Servicer is to manage non-performing loans in accordance with the applicable investor Seller/Servicer Guides. Risk Management’s objective is to pursue the best resolution path that maximizes the recovery.

Essential Job Functions (Duties/Responsibilities)

This position will have the following duties and responsibilities, including but not limited to:

Monitor quality and performance of a non-performing loan portfolio from Default through resolution

Ability to structure and execute resolution strategies (i.e. Foreclosure, Forbearance, Note Sale, DPO, Loan Modification or Reinstatement) in conjunction with the Investor goals

Perform comprehensive analysis of property cash flow, markets, collateral, and valuation while determining possible alternatives for default resolution

Partner closely with Agency Asset Management counterparts, to carry out desired resolution strategy

Review legal filings for accuracy and completeness

Prepare payoff/ reinstatement calculations

Prepare quarterly Loan Loss calculations

Review property condition assessment (PCA) reports to understand the scope of immediate repairs needed at the collateral property

Review property appraisal reports to understand the As-Is and As Stabilized values and impact on loss exposure

Understanding of legal contracts, bankruptcy law, foreclosure process, and loan servicing agreements

Lead, engage and interact with third parties including attorneys, receivers, management companies, brokers, appraisers, and environmental firms and engineers

Conduct Physical Property inspections, as required, in order to evaluate property condition

Provide timely written updates to senior management and investors

Present recommendations in a clear and concise manner

Request and review documentation supporting servicing advances

Will assist the VP/ SVP, Risk Management on ad-hoc projects and requests from Senior Management

Will work independently to identify problems and provide solutions to management

Qualifications

Education: Bachelor’s degree in Business, Finance, Real-Estate or a related discipline or equivalent work experience preferred.

Experience: 5+ years loan asset management experience with working knowledge of Special Servicing, bankruptcy and loan workouts.

Knowledge/Skills/Abilities:

Intermediate Microsoft Office Skills

Strong analytical, research and reporting skills

Strong negotiation and communication (both verbal and written) skills

Extremely high attention to detail and accuracy

Comfortable interpreting legal documents such as loan agreements

Strong organizational, time management, and prioritization skills

Ability to work independently and on teams in a fast-paced environment with strict deadlines

Travel: 15-20%

We are proud to be an equal opportunity employer and are committed to maintaining a diverse workforce and an inclusive work environment for our associates, customers and business partners. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, disability, ethnicity, pregnancy or any other legally protected status. We are committed to working with and providing reasonable accommodations to individuals with disabilities.