Asset Manager

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.
• Familiarity with the requirements of the Freddie Mac Multifamily Seller/Servicer Guide, Fannie Mae Multifamily Selling and Servicing Guide, Subservicing Agreements and Pooling and Servicing Agreements.
• Qualified inspector for Fannie Mae and Freddie Mac multifamily properties.
• MBA Commercial Certified Mortgage Servicing Level II Certificate.
• Enhanced software competencies including advanced Excel, Power BI, and web-based servicing systems.

*We know not everyone will meet 100% of the requirements, however we encourage you to apply if you think your skills are a good fit for this role.

About PGIM Real Estate

With $207.9 billion in gross assets under management and administration ($133.8 billion net),1 PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.

PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.

PGIM Real Estate Loan Services (“PRELS”) is a subsidiary of PGIM Real Estate and one of the largest commercial and multifamily mortgage servicing firms in the nation.  PRELS has 145 dedicated professionals across the globe who service commercial, multifamily, and agriculture loans for multiple clients including a large life insurance company, global institutional investors, and agencies. Current Assets Under Management / Administration is $109 Billion for over 4,700 core and higher yielding loans in twelve countries located on three continents.   

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What we offer you:

• Market competitive base salaries, with a yearly bonus potential at every level. 

• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave. 

• 401(k) plan with company match (up to 4%). 

• Company-funded pension plan. 

• Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs. 

• Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.  

• Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.  

• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service. 

Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.