JR01185
Operations
Hanover Street Capital
Full time
US - NY - New York
Onsite
JR01185
Operations
Unspecified
US - NY - New York
SitusAMC is where the best and most passionate people come to transform our client’s businesses and their own careers. Whether you’re a real estate veteran, a passionate technologist, or looking to get your start, join us as we work together to realize opportunities for everyone, we proudly serve.
At SitusAMC, we are looking to match your unique experience with one of our amazing careers, so that we can help you realize your potential and career growth within the Real Estate Industry. If you are someone who can be yourself, advocate for others, stay nimble, dream big, own every outcome, and think global but act local – come join our team!
In this role, you will support Senior Loan Administrators in the day-to-day administration of a diverse portfolio of CRE loan and debt financings including construction/renovation loans, syndications, CMBS, secured and unsecured debt transactions, multi-currency and project financings. As a member of Loan Administration, you will work alongside colleagues in Asset Management, Portfolio Management and Servicing, and see the full breadth of activities required to manage a diverse, complex commercial real estate loan portfolio. The role is focused on supporting Senior Loan Administrators to process and administer CRE loan documentation and funding requirements, including monthly waterfall calculations, cash management processing, payoffs, manage escrows and reserve balances, as well as respond to client, loan participant and Asset Management team inquiries. In addition, you will have an opportunity to develop and grow professionally and hone your skills in support of streamlining workflow processes, addressing borrower inquiries, and the application of industry best practices – designed to allow you to progress and take on the full breadth of Loan Administrator duties and be assigned full responsibility for a portfolio of assets as you gain more and more experience.Essential Job Functions:
Support Senior Loan Administrators in the day to day administration of assigned loans, including communication with Borrowers and Lenders/Investors and Client
Assist in analyzing and interpreting loan documents and providing advice and direction to the Asset Management Team and Loan Operations teams
Monitoring reserve and escrow accounts to ensure borrower compliance with governing documents including provisions related to budget, taxes, insurance, collateral and future funding
Reviewing disbursement requests, monitoring draw procedures, managing flow of funds mechanics and internal loan administration
Monitoring of construction loans including review of budgets, back-up documentation, title updates, and inspection reports. Periodic travel to inspect construction projects.
Performing monthly loan-level waterfall calculations and cash management processing including the monitoring of income, operating budgets and leasing status
Coordinate new portfolio and new loan servicing including collection of all necessary loan documents, obtaining contact information for all relevant parties and ensuring accurate boarding in the loan servicing system.
Reconcile and review various reports including billing statements, release statements, payoff statements and remittance reports as required to ensure Hanover’s high standards are achieved in terms of quality, accuracy and completeness.
Update and monitor loan specific information in the loan servicing system
Flexibility in schedule with respect to meeting time sensitive client needs
Handle the collection and remittance of payments
Verification and payment of taxes and insurance
Calculating property/unit release prices and monitoring releases
Portfolio reporting
Coordination with asset managers, borrowers, co-lenders and third-party vendors
Other activities as may be assigned by your manager
Qualifications/ Requirements:
Bachelor’s degree in related field or equivalent combination of education and experience
Experienced professional with 1 to 3 years of industry and/or relevant experience, typically at a Senior Analyst or Analyst level role or external equivalent.
Minimum 1+ years of experience in Commercial Real Estate, Loan Servicing/Administration, Corporate Trust or Community Development or related field
Construction loan experience desirable
Knowledge of cash management and waterfalls preferred
Strong analytical, problem solving and computer skills with a thorough knowledge of Excel
Thorough understanding of loan documents, particularly budget, taxes, insurance, collateral and future funding provisions; as well as payment structures and covenants
Excellent written, verbal and electronic communication skills with attention to detail
Work in a team environment yet think independently and generate quality work product with little supervision
Manage multiple priorities and meet multiple deadlines
Ability to approach work from more of a “transaction” basis versus “task” basis
Understanding of real estate finance including debt and equity structures
Excellent reading and comprehension skills
Ability to communicate effectively both written and verbal
Analytical skills to understand complex commercial loan documents
Strong organizational and time management skills
Ability to work independently on projects and also collaborate ‘face to face’ as a team player
Ability to work in fast-paced environment running multiple tasks under tight deadlines
Note: This job description is not intended to be all inclusive or exclusive. At any time, employees may perform other related duties as required to meet the ongoing needs of the organization and participate in additional trainings. SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume.
The annual full time base salary range for this role is
$90,000.00 - $115,000.00Specific compensation is determined through interviews and a review of relevant education, experience, training, skills, geographic location and alignment with market data. Additionally, certain positions may be eligible to receive a discretionary bonus as determined by bonus program guidelines, position eligibility and SitusAMC Senior Management approval. SitusAMC offers PTO and paid holidays, the terms of which are set forth in the program policies. All full time employees also are eligible to participate in various benefit plans, including medical, dental, vision, life, disability insurance and 401K; in each case in accordance with the terms of the applicable plans.
Pay Transparency Nondiscrimination Provision
SitusAMC is an Equal Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.
Know Your Rights, Workplace Discrimination is Illegal
SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume.
SitusAMC is a leading independent provider of technology, strategic outsourcing, talent and advisory solutions to the commercial and residential real estate finance industries. We help clients identify and capture opportunities in their real estate businesses through industry-leading services and innovative technologies that drive operational efficiency, increase business effectiveness, and improve market agility across the entire lifecycle of their global real estate activity.
Working among the best talent in real estate, you’ll be a part of some of the most relevant things happening in the industry and engage in interesting and exciting work. You’ll be embraced by a culture that celebrates innovative thinking and empowers you to get the job done. Come join us in Powering Opportunity for those we proudly serve.