Associate - Commercial Real Estate Portfolio Manager
About The Position
Wells Fargo is seeking a Commercial Real Estate Portfolio Manager for our Portfolio Surveillance and Servicing Team within Wells Fargo Multifamily Capital (MFC). This employee will support Fannie Mae, Freddie Mac, and FHA Asset Management with meeting various portfolio oversight tasks and deadlines. Specific domains include hazard loss administration, property operating statement collection and analysis, site inspection coordination, covenant monitoring, interest rate hedge administration, and reserve draw administration. Learn more about our career areas and lines of business at wellsfargojobs.com. In this role, you will: Collaborate and consult with MFC colleagues, internal partners, and external customers to manage portfolio risk and provide best-in-class customer service. Oversee hazard loss claims, confirming repairs are made in accordance with underlying loan documents and Agency requirements. Support Asset Managers with property operating statement submissions, ensuring timely analysis and delivery in accordance with Fannie Mae, Freddie Mac, and FHA requirements and expectations. Assist with the ordering and tracking of property site inspections, ensuring timely delivery of reports in accordance with Fannie Mae, Freddie Mac, and FHA guidelines. Follow up with Asset Managers and/or Borrowers as needed to close identified deferred maintenance items. Identify, understand, and review various trigger covenants identified in the loan documents for assignment to respective Asset Managers. Administer interest rate hedge renewals, resizing’s, and reimbursements to borrowers. Present recommendations for resolving less 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 MFC. Contribute to improving efficiency with the technological tools made available through Wells Fargo. 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.
Requirements
- 2+ years of Commercial Real Estate Portfolio Management experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Nice To Haves
- Ability to multi-task, achieve tight timeframes, and stay organized.
- Excellent verbal, written, and interpersonal communication skills.
- Ability to adapt and learn new software systems.
- Intermediate Microsoft Office (Word, Excel, Outlook, and PowerPoint) skills
- Ability to read, interpret and understand complex Commercial Real Estate (CRE) loan documents.
- Experience working with Fannie Mae, Freddie Mac, and/or FHA loans.
- Solid problem solving and decision-making skills.
- Strong analytical skills with high attention to detail and accuracy
- Ability to effectively communicate with varying internal bank personnel, customers, consultants.
Responsibilities
- Collaborate and consult with MFC colleagues, internal partners, and external customers to manage portfolio risk and provide best-in-class customer service.
- Oversee hazard loss claims, confirming repairs are made in accordance with underlying loan documents and Agency requirements.
- Support Asset Managers with property operating statement submissions, ensuring timely analysis and delivery in accordance with Fannie Mae, Freddie Mac, and FHA requirements and expectations.
- Assist with the ordering and tracking of property site inspections, ensuring timely delivery of reports in accordance with Fannie Mae, Freddie Mac, and FHA guidelines. Follow up with Asset Managers and/or Borrowers as needed to close identified deferred maintenance items.
- Identify, understand, and review various trigger covenants identified in the loan documents for assignment to respective Asset Managers.
- Administer interest rate hedge renewals, resizing’s, and reimbursements to borrowers.
- Present recommendations for resolving less 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 MFC.
- Contribute to improving efficiency with the technological tools made available through Wells Fargo.
Benefits
- Wells Fargo is an equal opportunity employer.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
No Education Listed
