Commercial Real Estate Asset Manager

Compensation

: $130,670.00 - $194,360.00 /year *

Employment Type

: Full-Time

Industry

: Real Estate



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Job Description


Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume prior to submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as ?Personal Cell? or ?Cellular? in the contact information of your application.

At Wells Fargo, we want to satisfy our customers? financial needs and help them succeed financially. We?re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you?ll feel valued and inspired to contribute your unique skills and experience.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Wholesale Banking provides financial solutions to businesses across the United States and globally. Our four major business lines include Corporate & Investment Banking, Commercial Banking, Commercial Real Estate, and Wells Fargo Commercial Capital. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.

Wholesale Commercial Real Estate (WCRE) operates throughout the United States, as well as Canada and the United Kingdom, to deliver a comprehensive platform of financing and banking products for experienced commercial real estate companies including balance sheet lending, CMBS origination and distribution, loan servicing, agency financing for multifamily properties, and debt and equity capital for affordable housing.

Community Lending and Investment (CLI) is responsible for investing debt and equity capital for economic development, job creation and affordable housing in areas of need nationwide. The vertically integrated group offers a suite of debt and equity products, including Low Income Housing Tax Credits, New Market Tax Credits, construction finance and permanent finance for affordable housing, and Charter School Finance, serving for-profit and non-profit developers and other organizations.

The Commercial Real Estate Asset Manager 2 will assist in managing Wells Fargo?s tax credit equity investments in LIHTC affordable housing within the Tax Credit Investment Group of CLI.

Responsibilities for this position include, but are not limited to:

  • Managing a small portfolio of stabilized affordable multifamily investments
  • Assisting in underwriting investments for consent requests including loan refinancing, loan conversions from construction to permanent, and limited partnership interest valuations
  • Performing cash flow waterfall calculations per the terms of the operating agreements
  • Assisting in the review and processing of equity contributions to investments and reserve release requests
  • Reviewing third-party inspections to evaluate the physical condition of properties and compliance with LIHTC regulations
  • Reviewing and analyzing partner/guarantor financial statements to ensure compliance with financial covenants
  • Collecting, reviewing, and tracking yearly audits, yearly tax returns, and quarterly operating statement to ensure financial and nonfinancial deal data is properly updated in our database management system
  • Performing site visits to collect property and market data as needed
  • Performing ad hoc requests for management which may include among other things engaging legal counsel, opening bank accounts for customers, and addressing internal Wells Fargo inquiries
  • Team members 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.



    Required Qualifications
  • 5+ years of underwriting or asset management experience in one or a combination of the following: Commercial Mortgage Backed Securities (CMBS), multifamily/agency commercial real estate, commercial real estate investment, low-income housing tax credit investment or commercial real estate balance sheet lending


  • Desired Qualifications
  • 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 basic commercial real estate loan or real estate investment documentation, securitization documents, including pooling and servicing agreements and related documentation
  • Ability to work effectively in a team environment
  • Strong organizational, multi-tasking, and prioritizing skills
  • Intermediate Microsoft Office (Word, Excel, Outlook, and PowerPoint) skills
  • Outstanding problem solving and decision making skills
  • Extensive technical writing skills
  • Ability to be proactive, innovative and creative in meeting customer and enterprise needs
  • Microsoft Excel spreadsheets experience importing, exporting, and manipulating data
  • Intermediate Microsoft Word skills


  • Other Desired Qualifications
  • Knowledge or experience in low income housing tax credit (LIHTC)
  • Demonstrated understanding of income producing real estate
  • Bachelor?s degree in Accounting, Finance, Real Estate, or related field



  • Associated topics: agent, broker, business, commercial, commercial real estate, commercial property, commercial leasing agent, listing, real estate agent, real estate broker * The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

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