Job Classification:
Investment Management - Investment Operations
A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE
Our Vision:
At PGIM, we care about our employees, and we are committed to seeing them succeed. We provide our employees with access to professional development and support to help drive their success and ability to innovate.
What you will do:
PRELS is seeking a dynamic and driven individual to enhance our Agency Asset Management team in the capacity of an Asset Manager. This role encompasses the monitoring of asset performance, underwriting credit requests, and monthly reporting. It presents a unique opportunity to acquire and hone a diverse skill set in agency asset management, finance, credit analysis, and presentation.
What you can expect:
- Independently oversee a portfolio of Fannie Mae and/or Freddie Mac multifamily loans secured by properties located throughout the U.S.
- Evaluate requests from borrowers on existing loans, recommend lender credit decisions and facilitate transactions, such as transfers of ownership, modifications, partial releases, property substitutions, lease approvals, easements, reserve disbursements, casualty losses, and property management changes.
- Engage in frequent verbal and written communication with borrowers, legal counsel, loan officers, Agencies, master servicers, and investors.
- Perform cash flow analysis, market assessments, and due diligence to produce well-supported case recommendations for complex borrower requests.
- Analyze historical operating trends and identify potential areas of risk associated with multifamily loans and collateral properties. Provide written analysis identifying key trends and issues, along with corresponding mitigants.
- Manage multiple monthly and quarterly portfolio processes including watchlist review and analysis, new loan setup review, covenant monitoring, delinquency monitoring, maturity management, and assist surveillance associates with financial statement collection and analysis.
- Conduct property inspections and prepare detailed reports assessing physical condition, compliance with loan terms, and overall property management. Review third-party inspection reports to assess the same.
- Take initiative to continually improve the integrity of portfolio information with attention to accurate detail and meet capital source reporting deadlines. Build synergies with both internal and external groups (loan originations, legal, compliance, servicing, accounting, Fannie Mae, Freddie Mac, Master Servicers and third-party vendors) to enhance efficiency and transparency. Proactively identify and lead the implementation of innovative and practical solutions.
- Achieve ongoing training and industry participation targets.
- Provide support for special projects at PRELS and within the Agency Asset Management team.
What you will bring:
- 3+ years of proven experience as an asset manager in a similar role.
- Familiarity with commercial real estate lending products/terms, loan documents and servicing requirements.
- Ability to work effectively in a team environment and a willingness to assist other team members.
- Initiative-taking, self-starter with a strong sense of urgency.
- Strategically minded with excellent analytical and problem-solving skills.
- Outstanding customer service skills are essential, including the ability to create/build and maintain relationships with internal and external clients.
- Strong organizational skills and attention to detail with ability to manage multiple projects and prioritize work based on established deadlines.
- Demonstrated technical writing capability.
- Proficiency in Microsoft Office and other industry-related software.
- Ability to travel occasionally for property inspections and industry events.
- Comfortable working in a hybrid environment (on-site 3 times a week).
What Will Set You Apart
- Bachelor’s or graduate degree in Real Estate, Business, Finance, Economics, Mathematics, or related discipline.
- Asset management experience with Fannie Mae Multifamily, Freddie Mac Multifamily or CMBS loans.
- Familiarity with the requirements of the Freddie Mac Multifamily Seller/Servicer Guide, Fannie Mae Multifamily Selling and Servicing Guide, Subservicing Agreements and Pooling and Servicing Agreements.
- Qualified inspector for Fannie Mae and Freddie Mac multifamily properties.
- Enhanced software competencies including advanced Excel, Power BI, and web-based servicing systems.
- We know not everyone will meet 100% of the requirements, however we encourage you to apply if you think your skills are a good fit for this role.
What we offer you:
- Medical, dental, vision, life insurance and PTO (Paid Time Off)
- Retirement plans:
- 401(k) plan with generous company match (up to 4%)
- Company-funded pension plan
- Wellness Programs to help you achieve your wellbeing goals, including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
- Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional health, and career development.
- Tuition Assistance to help finance traditional college enrollment, approved degrees, many accredited certificate programs, and industry designations.
To find out more about our Total Reward package, visit Work Life Balance | Prudential Careers
About PGIM Real Estate
With $207.9 billion in gross assets under management and administration ($133.8 billion net),1 PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.
PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.
The Prudential Insurance Company of America, Newark, NJ and its affiliates.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.
PEOPLE WITH DISABILITIES:
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