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Head of US Due Diligence
Over the last 20 years, Ares' success has been driven by our people and our culture. Today, our team is guided by our core values Collaborative, Responsible, Entrepreneurial, Self-Aware, Trustworthy and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry.
Job Description
Position Description
The Associate, Asset Management position actively manages highly structured commercial transitional and stretch first mortgage and mezzanine loans, as well as equity products throughout the US. The Associate will administer the funding of commercial real estate loans as well as monitor and analyze the performance of commercial real estate properties which secure the loan collateral
Primary Functions and Essential Responsibilities
- Monitor all monetary (debt service, property tax and insurance) and non-monetary (financials, business plans, budgets, event dates, loan covenants) requirements of loans and develop action plan (memos) for
- collection/compliance
- Coordinate/Review application of Borrower payments and Full Payoff Requests with Servicing/Finance group
- Prepare funding requests on loan draws (maintain records and compliance of all draws) / Funding Reserves / Vendor Payments. Manage all vendors including inspecting architect
- Create Initial Loan Disbursements (and work with Title/Escrow) and review disbursement documentations for Closings
- Review Borrower Operating Statements Normalize/Annualize and compare versus business plan
- Aid in portfolio modeling and valuations, with a focus on processes to ensure integrity of data and method used for key metrics
- Monitor financial covenants for loans and back-leverage instruments
- Support Senior Asset Managers with preparation Modifications, Lease Approvals and Other Consents (work with Underwriting to complete)
- Maintain and update loan data and information in company sources of record
- Assist with data collection and preparing monthly reporting on each loan as internally and externally required
- Help in the implementation of new Asset Management software
- Maintain all loan records following company policy
- Maintain compliance with Servicing & Participation Agreements and Asset Management Policies & Procedures
Experience Required
- 2 to 4 years of experience in loan closing administration or asset management of commercial real estate assets
- Experience with a range of loan sizes and highly structured commercial real estate transactions
- Outstanding MS Excel skills
- Experience with Power BI or a comparable platform like Tableau/Qliksense, technical understanding of database structures a plus
- Experience with an Asset Management System (Built, RealPage, Fu3e, etc.)
General Requirements
- Must be detail oriented and possess strong communication, organizational and interpersonal skills
- Structuring or workout knowledge and experience will be a plus along with strong analytical abilities and negotiating skills
- Strong understanding of real estate fundamentals
- Exceptional quantitative, analytical and modeling skills required
- Experience analyzing corporate credit concepts and financial statement analysis
- Strong research, writing and communication skills
- Ability to analyze qualitative and quantitative information and translate into strategic deliverables
- Ability to create high quality, creative and thoughtful presentations used for communicating and reporting to Senior Management
- Ability to multi-task in a team-oriented environment and work successfully under pressure while effectively managing time and workload
- A desire to work within a diverse, collaborative, and driven professional and client facing environment
- Ability to handle sensitive and confidential information
- High ethical standards needed
Education
- Bachelor's Degree in Business, Finance, Accounting, or Real Estate with exceptional academic credentials preferred
Reporting Relationships
Compensation
The anticipated base salary range for this position is listed below. Total compensation may also include a discretionary performance-based bonus. Note, the range takes into account a broad spectrum of qualifications, including, but not limited to, years of relevant work experience, education, and other relevant qualifications specific to the role.
The firm also offers robust Benefits offerings. Ares U.S. Core Benefits include Comprehensive Medical/Rx, Dental and Vision plans 401(k) program with company match Flexible Savings Accounts (FSA) Healthcare Savings Accounts (HSA) with company contribution Basic and Voluntary Life Insurance Long-Term Disability (LTD) and Short-Term Disability (STD) insurance Employee Assistance Program (EAP), and Commuter Benefits plan for parking and transit.
Ares offers a number of additional benefits including access to a world-class medical advisory team, a mental health app that includes coaching, therapy and psychiatry, a mindfulness and wellbeing app, financial wellness benefit that includes access to a financial advisor, new parent leave, reproductive and adoption assistance, emergency backup care, matching gift program, education sponsorship program, and much more.
There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active.