SitusAMC Jobs

SitusAMC is where the best and most passionate people come to transform our client’s businesses and their own careers. Whether you’re a real estate veteran, a passionate technologist, or looking to get your start, join us as we work together to realize opportunities for everyone, we proudly serve.

At SitusAMC, we are looking to match your unique experience with one of our amazing careers, so that we can help you realize your potential and career growth within the Real Estate Industry. If you are someone who can be yourself, advocate for others, stay nimble, dream big, own every outcome, and think global but act local – come join our team!

We are currently seeking a highly motivated, detail-oriented qualified Associate- level candidate to join our Loan Administration team in New York, NY. In this role, you will support Senior Loan Administrators in the day-to-day administration of a diverse portfolio of CRE loan and debt financings including construction/renovation loans, syndications, CMBS, secured and unsecured debt transactions, multi-currency, and project financings. As a member of Loan Administration, you will work alongside colleagues in Asset Management, Portfolio Management and Servicing, and see the full breadth of activities required to manage a diverse, complex commercial real estate loan portfolio. The role is focused on supporting Senior Loan Administrators to process and administer CRE loan documentation and funding requirements, including monthly waterfall calculations, cash management processing, payoffs, manage escrows and reserve balances, as well as respond to client, loan participant and Asset Management team inquiries. In addition, you will have an opportunity to develop and grow professionally and hone your skills in support of streamlining workflow processes, addressing borrower inquiries, and the application of industry best practices - designed to allow you to progress and take on the full breadth of Loan Administrator duties and be assigned full responsibility for a portfolio of assets as you gain more and more experience.

At Hanover, we believe that an environment of constant learning, collaboration and personal connections are essential, and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel valued here.

Essential Job Functions:

• Support Senior Loan Administrators in the day-to-day administration of assigned loans, including communication with Borrowers and Lenders/Investors and Client

• Assist in analyzing and interpreting loan documents and providing advice and direction to the Asset Management Team and Loan Operations teams

• Monitoring reserve and escrow accounts to ensure borrower compliance with governing documents including provisions related to budget, taxes, insurance, collateral and future funding

• Reviewing disbursement requests, monitoring draw procedures, managing flow of funds mechanics and internal loan administration

• Monitoring of construction loans including review of budgets, back-up documentation, title updates, and inspection reports. Periodic travel to inspect construction projects.

• Performing monthly loan-level waterfall calculations and cash management processing including the monitoring of income, operating budgets and leasing status

• Coordinate new portfolio and new loan servicing including collection of all necessary loan documents, obtaining contact information for all relevant parties and ensuring accurate boarding in the loan servicing system.

• Reconcile and review various reports including billing statements, release statements, payoff statements and remittance reports as required to ensure Hanover’s high standards are achieved in terms of quality, accuracy and completeness.

• Update and monitor loan specific information in the loan servicing system

• Flexibility in schedule with respect to meeting time sensitive client needs

• Handle the collection and remittance of payments

• Verification and payment of taxes and insurance

• Calculating property/unit release prices and monitoring releases

• Portfolio reporting

• Coordination with asset managers, borrowers, co-lenders and third-party vendors

Core Competencies for this role:

• Strong analytical, problem solving and computer skills with a thorough knowledge of Excel

• Thorough understanding of loan documents, particularly budget, taxes, insurance, collateral and future funding provisions; as well as payment structures and covenants

• Excellent written, verbal, and electronic communication skills with attention to detail

• Work in a team environment yet think independently and generate quality work product with little supervision

• Manage multiple priorities and meet multiple deadlines

• Ability to approach work from more of a “transaction" basis versus “task" basis

• Understanding of real estate finance including debt and equity structures

Skills:

• Excellent reading and comprehension skills

• Ability to communicate effectively both written and verbal

• Analytical skills to understand complex commercial loan documents

• Strong organizational and time management skills

• Ability to work independently on projects and collaborate ‘face to face’ as a team player

• Ability to work in fast-paced environment running multiple tasks under tight deadlines

• MS Office Suite including Outlook, Excel, and Word.

• MS Excel - Intermediate to Advanced

The annual full time base salary range for this role is ($100,000 - $125,000). Specific compensation is determined through interviews and a review of relevant education, experience, training, skills, geographic location and alignment with market data. Additionally, certain positions may be eligible to receive a discretionary bonus as determined by bonus program guidelines, position eligibility and SitusAMC Senior Management approval. SitusAMC offers PTO and paid holidays, the terms of which are set forth in the program policies. All full time employees also are eligible to participate in various benefit plans, including medical, dental, vision, life, disability insurance and 401K; in each case in accordance with the terms of the applicable plans.

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Note: This job description is not intended to be all inclusive or exclusive. At any time, employees may perform other related duties as required to meet the ongoing needs of the organization and participate in additional trainings.

SitusAMC is an Equal Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.

Know Your Rights, Workplace Discrimination is Illegal (https://www.eeoc.gov/sites/default/files/2023-06/22-088_EEOC_KnowYourRights6.12ScreenRdr.pdf)

SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume.

Job Location: New York, NY, USA

Country: USA