Director, Special Servicing
SitusAMC, Montgomery, AL, United States
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!
Essential Job Functions
Day to day management of a special servicing portfolio of assets to assess and implement plans to maximize recoveries for clients.
Possible day to day management of a team of special servicing asset managers.
Negotiate and implement resolutions of underperforming and defaulted loans
Analyze the property level cash flow to estimate mark-to-market income and expense rates and property valuation
Review and approve third-party reports such as appraisals, environmental reports and property condition assessments
Develop and evaluate all resolution alternatives that will maximize recoveries on an NPV basis and recommend the optimum resolution strategy for assigned assets in individual asset business plans
Obtain internal and client approvals and execute the approved loan or REO business plans
Interview, select and oversee receivers, property managers and brokers
Interview, select and oversee legal counsel as required
Work with counsel on complicated workouts including borrower bankruptcies and foreclosures
Complete the required internal and external reporting in a timely fashion
Work with junior staff and Analysts to ensure compliance with all requirements of the servicing agreements
Such other activities as may be assigned by your manager
Qualifications / Requirements
Bachelor’s degree with a preferred field of study; Accounting, Finance, Real Estate; MBA preferred or equivalent combination of education and experience
Minimum of 15+ years of industry and/or relevant experience, typically with 2+ years in an SVP level role or external equivalent.
5+ years of experience managing asset managers is preferred
5+ years of experience in CMBS Special Servicing is required.
Experience in Commercial Real Estate, REO resolutions and workout strategies with strong understanding of foreclosures processes, litigation and bankruptcy law preferred
Strong oral and written communication skills
Strong negotiating skills and strong understanding of complicated loan structures.
Experience in understanding CMBS servicing agreements.
Experience in understanding real estate valuation methodology, analyzing income and expense rates and property valuation
Manages and mentor’s employees to ensure their success
Excellent client relations skills.
Required to identify and understand the client’s scope of work and how Special Servicing can add value to the client’s endeavors
Fully competent in handling all aspects of fieldwork and must be able to provide feedback to clients on findings and conclusions
Superior business writing skills
Requires management of staff in meeting project deadlines.
Works independently on projects and collaborates as a team player
Overnight traveling involving onsite visits with current and potential clients (10%)
#LI-REMOTE
The annual full time base salary range for this role is
$150,000.00 - $200,000.00
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.
Pay Transparency Nondiscrimination Provision.
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.
#J-18808-Ljbffr
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!
Essential Job Functions
Day to day management of a special servicing portfolio of assets to assess and implement plans to maximize recoveries for clients.
Possible day to day management of a team of special servicing asset managers.
Negotiate and implement resolutions of underperforming and defaulted loans
Analyze the property level cash flow to estimate mark-to-market income and expense rates and property valuation
Review and approve third-party reports such as appraisals, environmental reports and property condition assessments
Develop and evaluate all resolution alternatives that will maximize recoveries on an NPV basis and recommend the optimum resolution strategy for assigned assets in individual asset business plans
Obtain internal and client approvals and execute the approved loan or REO business plans
Interview, select and oversee receivers, property managers and brokers
Interview, select and oversee legal counsel as required
Work with counsel on complicated workouts including borrower bankruptcies and foreclosures
Complete the required internal and external reporting in a timely fashion
Work with junior staff and Analysts to ensure compliance with all requirements of the servicing agreements
Such other activities as may be assigned by your manager
Qualifications / Requirements
Bachelor’s degree with a preferred field of study; Accounting, Finance, Real Estate; MBA preferred or equivalent combination of education and experience
Minimum of 15+ years of industry and/or relevant experience, typically with 2+ years in an SVP level role or external equivalent.
5+ years of experience managing asset managers is preferred
5+ years of experience in CMBS Special Servicing is required.
Experience in Commercial Real Estate, REO resolutions and workout strategies with strong understanding of foreclosures processes, litigation and bankruptcy law preferred
Strong oral and written communication skills
Strong negotiating skills and strong understanding of complicated loan structures.
Experience in understanding CMBS servicing agreements.
Experience in understanding real estate valuation methodology, analyzing income and expense rates and property valuation
Manages and mentor’s employees to ensure their success
Excellent client relations skills.
Required to identify and understand the client’s scope of work and how Special Servicing can add value to the client’s endeavors
Fully competent in handling all aspects of fieldwork and must be able to provide feedback to clients on findings and conclusions
Superior business writing skills
Requires management of staff in meeting project deadlines.
Works independently on projects and collaborates as a team player
Overnight traveling involving onsite visits with current and potential clients (10%)
#LI-REMOTE
The annual full time base salary range for this role is
$150,000.00 - $200,000.00
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.
Pay Transparency Nondiscrimination Provision.
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.
#J-18808-Ljbffr