Asset Manager - PGIM Real Estate

Job Classification:

Investment Management - Investments

GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE

As the Global Asset Management business of Prudential, we’re always looking for ways to improve financial services. We’re passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world. We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading global asset managers! 

If you’re not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that’s investing in your future by shaping tomorrow today. At PGIM, You Can!

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:

• 2-3 years of proven experience in asset management/commercial multifamily lending
• 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.
• Famil