AVP Portfolio Management

Renovo Financial•Chicago, IL

About The Position

Renovo’s AVP, Portfolio Management is responsible for portfolio monitoring and managing troubled loan situations. This position requires an assertive and highly collaborative individual who will thrive in a fast-paced environment and communicate effectively with a variety of different stakeholders and audiences (senior leadership, attorneys, borrowers, etc.). The AVP, Portfolio Management will manage a team of Portfolio Management Associates who are responsible for collections activities and discussing workout options on the business purpose residential loan portfolio. The AVP, Portfolio Management will partner with Renovo’s Default team in negotiating payment arrangements, implementing collection strategies and offering loss mitigation options to maximize recovery and disposition of default loans. A high level of listening skills, problem resolution, financial, lending, real estate, and legal acumen (and ease with the language used among professionals in those industries) is required for success.

Requirements

At least 3 years of experience in mortgage servicing residential or business purpose, banking, or commercial real estate credit, encompassing involvement in workouts and/or special situations
Expert knowledge in commercial mortgage lending/restructuring and financial deal structuring
Thrives in a highly collaborative atmosphere and relishes the challenge of developing solutions that consider the needs of multiple internal/external parties
Capable of synthesizing information from many data sources to conduct analysis and articulate a concise recommendation
Exemplary written, verbal communication and negotiation skills and ability to effectively tailor messaging to disparate audiences
Ability to manage multiple tasks concurrently and self-prioritize workload to meet deadlines as an individual and leader
Excellent organizational skills
Proficiency with Microsoft Excel and Word

Responsibilities

Manage and monitor in a compliant manner a portfolio of service transferred loans, including general servicing duties, default workout solutions, and distressed exit strategies
Responsible oversight of the ongoing portfolio management including the identification of problem loans, and/or special reviews that may be required
Identify trends and key risk identifiers that may impact global portfolio sectors or regional geographies
Responsible as the main direct manager for the team of Portfolio Management Associates who are the dedicated SPOCS for loans in early-stage default, foreclosure, probate, and bankruptcy
Ability to manage a pipeline of loans as the dedicated SPOC and operate as a “Player Coach” for the team of Portfolio Management Associates
Oversee collection activities on portfolio delinquencies past grace period dates
Proactively manage delinquencies through weekly meetings with borrowing clients; obtaining and reviewing borrower financial and cash flow statements; and developing action plans for remedying delinquency
Capability to have difficult conversations with borrowing clients in a respectful, courteous, and professional manner
Ability to manage the process of loss mitigation reviews, requiring the interpretation and analysis of financial statements, including balance sheets, income & cash flow statements, and update proforma data to produce a professional written analysis to assess the ongoing repayment ability of all borrowing clients
Hold borrower clients accountable to milestones and timelines for “Loss Mitigation/Workout” loans
Work collaboratively with company’s General Counsel, Foreclosure Counsel and other default service providers, as necessary, to provide “Loss mitigation/Workout” solutions on default loans and maximize recovery
Bring Renovo’s values to life through your actions, choices, and commitment to a shared purpose