Senior Manager, Commercial Real Estate Portfolio Management

Role Overview

• The Commercial Real Estate Portfolio Management Senior Manager will be the first level manager who directs and controls the strategy, workflow, and execution of special asset management functions for the Multifamily Capital team.
• The successful candidate will manage, coach, and develop a team of individual contributors.
• Collaboration and consultation with Multifamily Capital colleagues, internal partners, external customers, and other stakeholders.
• Proactive management of the watchlist portfolio by meeting regularly with clients to understand performance issues, develop action plans, and ensure remediation activities are completed.
• Oversight of the special credits portfolio, ensuring that rehab projects are completed as agreed and that any new property condition issues are remediated in a timely fashion, ultimately ensuring properties in the portfolio are safe and maintained to ensure longevity.
• Implementation of forbearance, workout, and/or foreclosure activities in collaboration with internal stakeholders and as instructed by Agency partners.
• Supervision of quarterly risk assessment and grading activities for the larger Asset Management team.
• Travel to conduct property site inspections as required pursuant internal and Agency guidelines.
• Carefully review third-party site inspections when policy allows vendor outsourcing.
• Review property operating statements to understand drivers of performance, working with borrowers and origination staff to fully understand variances from underwriting, prior periods, and expectations.
• Ensure covenants and trigger items are adhered to pursuant loan documents and Agency guidelines.
• Present recommendations for resolving complex situations and exercise independent judgment while developing expertise in the function, policies, procedures, and compliance requirements.
• Contribute to management or control of operational and financial risk to Multifamily Capital and Wells Fargo.
• The team manager must demonstrate a high-level skill set that includes financial analysis, real estate and property management operations, market knowledge, knowledge of mortgage and legal documents, credit risk analysis and the leadership qualities necessary to manage a team of asset management professionals.
• The team manager is expected to use this skillset to assist and guide their team in every aspect of their jobs, with the end goal of minimizing and mitigating risk to Wells Fargo, Fannie Mae, and Freddie Mac, while also providing superior customer service.

Requirements

• 7+ years of Commercial Real Estate Portfolio Management or leadership experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
• 3+ years of management or leadership experience
• Commercial real estate experience, preferably in Fannie Mae and/or Freddie Mac multifamily asset management or underwriting
• Familiarity with various Fannie Mae and/or Freddie Mac multifamily asset management technology tools
• Exposure to multifamily real estate development, property management and/or underwriting
• Customer service focus with experience actively listening, eliciting information, comprehending customer issues/needs, and recommending solutions
• Extensive knowledge and understanding of credit and income producing real estate
• Strong attention to detail and accuracy skills
• Excellent verbal, written, and interpersonal communication skills
• Ability to read and understand commercial real estate loan or real estate investment documentation, securitization documents, including pooling and servicing agreements and related documentation
• Familiarity with loan documents and third-party reports including appraisals, physical needs assessments, and environmental reports
• Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
• Strong organizational, multi-tasking, and prioritizing skills
• A BS/BA degree in business, finance, accounting, real estate or a related field.

Benefits

• Up to 25% travel
• Ability to work additional hours as needed
• Visa sponsorship is not available
• This position is subject to FINRA background screening requirements
• Candidates must successfully complete and pass a background check prior to hire
• Drug and Alcohol Policy Wells Fargo maintains a drug-free workplace