Commercial Real Estate Asset Manager 1

Job Description

Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as “Personal Cell” or “Cellular” in the contact information of your application.

At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Corporate & Investment Banking delivers a comprehensive suite of capital markets, banking, and financial products and services. A trusted partner to our clients, we provide corporate and transactional banking; commercial real estate lending and servicing; investment banking; equity; and fixed income solutions including sales, trading, and research capabilities to corporate, commercial real estate, government, and institutional clients across the globe.

Commercial Real Estate (CRE) is part of Corporate and Investment Banking (CIB), one of five CEO-led businesses for Wells Fargo. CRE operates globally to deliver a comprehensive platform of financing and banking products for experienced commercial real estate companies including balance sheet lending, CMBS origination and distribution, loan servicing, agency financing for multifamily properties, and debt and equity capital for affordable housing. In addition to being the #1 CRE lender in the U.S., Wells Fargo CRE has also earned other notable accolades, including being the #1 Affordable Housing Lender and the #1 Commercial Mortgage Servicer.

Commercial Mortgage Servicing (CMS) is the industry leader and provider of real estate loan servicing in the United States, with global locations in India. CMS provides the best in class mortgage servicing for a variety of third party customers and stakeholders, including Commercial Mortgage Backed Securities (CMBS), Mortgage Backed Securities (MBS), US Government-Sponsored Entities (GSE), US Department of Housing and Urban Development (HUD), Interim Lenders, Specialized Warehouse Lenders, and Secondary-Market Lenders. CMS also provides loan and portfolio level asset management for SRE/Real Estate Capital markets (RECM) balance sheet loans and loan and facility level asset management for Commercial Mortgage Loan Finance (CMLF). Services include: payment and escrow processing, cash and treasury management, asset management and surveillance - loan covenants, borrower consent requests, and investor reporting and collateral administration.

The Commercial Real Estate Asset Manager within CMS is a senior position with overall responsibility for an assigned portfolio of Commercial Mortgage Backed Securities (“CMBS”) securitizations and/or portfolio loans originated pursuant to the Freddie Mac programs and any related subordinate debt with support provided by various functional and operational groups and pursuant to the terms of the applicable Pooling & Servicing Agreement or equivalent and demonstrated knowledge of the Freddie Mac Servicing Guide.

Responsibilities for this this position include, but are not limited to:

• Monitoring the portfolio for potential or imminent defaults and proactively communicate relevant pre-default information to the special servicer and/or the controlling holder
• Managing relationships with subordinate debt holders, borrowers and all CMBS deal stakeholders through proactive communications and an understanding of the differing goals and needs of the various parties.
• Monitoring and communicating any potential operational risk to senior management
• Conducting quarterly review and analysis of property-level financial statements and rent rolls
• Monthly creation and/or review of the CMSA Watch List
• All loan level and deal level credit decision making
• All portfolio surveillance information that is provided to the various deal stakeholders
• Providing support to a team of surveillance analysts

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.

• 3+ years of underwriting or asset management experience in one or a combination of the following: Commercial Mortgage Backed Securities (CMBS), multifamily/agency commercial real estate, commercial real estate investment, low-income housing tax credit investment or commercial real estate balance sheet lending

• Customer service focus with experience actively listening, eliciting information, comprehending customer issues/needs, and recommending solutions
• Extensive knowledge and understanding of credit and income producing real estate
• Strong attention to detail and accuracy skills
• Excellent verbal, written, and interpersonal communication skills
• Ability to read and understand basic commercial real estate loan documentation, securitization documents, including pooling and servicing agreements and related documentation
• A BS/BA degree or higher
• Advanced Microsoft Office (Word, Excel, Outlook, and Access) skills

• Strong credit and risk management exposure
• Demonstrated leadership competencies, initiative and the ability to work independently
• Fundamental knowledge of real estate and demonstrated ability to manage GSE collateral
• Freddie Mac or Fannie Mae experience

VA-McLean: 1751 Pinnacle Dr - Mclean, VA

All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.

Benefits

Visit https://www.wellsfargo.com/about/careers/benefits for benefits information.