Head of US Debt Asset Management

4 weeks ago

Chicago, United States Barings Full time

At Barings, we are as invested in our associates as we are in our clients. We recognize those who work diligently for us and reward them for personal and professional integrity, communication skills, distinct competencies and expertise in specific strategies, ability to collaborate as a team member and true dedication to the interests of our clients.

We thank you for your interest in joining the Barings team, and invite you to explore our current employment opportunities.

Barings is a leading global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe, and Asia Pacific.

Asset Management, Barings Real Estate Debt

Title: Managing Director, Head of US Real Estate Debt Asset Management

Business Unit: Real Estate Debt

Location: Chicago, Boston, Charlotte

Job Summary

Reporting to the Head of US & European Real Estate Debt, the Head of U.S. Real Estate Debt Asset Management is responsible for managing and leading the Asset Management team and the efforts to oversee the entire loan portfolio.

Primary Responsibilities

  • Oversee the direction, organization, staffing, training and leadership development of USRE-Debt asset management staff within the business. Ensure the provision of high standards of quality and service in a consistent manner throughout the portfolio.
  • Operate as a player/coach by being directly involved in portfolio matters balanced with running and leading the team with overall responsibility for the Asset Management function.
  • Collaborate and build meaningful relationships with various internal stakeholder groups, including but not limited to: Equity Asset Management, Origination, Portfolio Management, Underwriting, Loan Servicing, Research, and Legal teams.
  • Monitor loan performance, post-closing obligations, and covenant compliance. Review operating budgets, draw requests and third-party reports.
  • Interact directly with borrowers and sponsors to provide best in class service and loan support. Protect loan positions through careful and thoughtful negotiations on portfolio related matters with borrowers. Manage customer needs with credit, risk, and return profiles.
  • Manage special situations as needed with underperforming and nonperforming loans. Lead through loan foreclosure/workout processes as needed.
  • Act as the primary relationship liaison with Barings’ outsourced loan servicer.
  • Develop an understanding of the real estate markets in which collateral assets are located, including market trends, competitive property activity, developments, and major players.
  • Review and maintain policies and procedures to optimize the debt asset management function.
  • Oversee the production of periodic asset management reports for internal portfolio management teams, third party clients, and joint venture partners.
  • Help facilitate loan closing and onboarding of new loans in transition from the Underwriting & Closing team.
  • Help retain loans by working with the Origination team to mine existing portfolio to facilitate extensions, refinancing’s, and other aspects of borrower retention.
  • Report loan performance and covenant compliance to lenders with the collaboration of capital markets for our levered loan strategies.
  • Perform financial analysis of portfolios on quarterly/annual basis for reporting and the loan valuation process.
  • Participate and vote in the USRE-Debt Investment Committee on loan modification issues.
  • Participate in prospective and existing investor meetings to present our approach to Asset Management and portfolio updates.
  • Moderate travel will be required, primarily around portfolio loan site tours as needed.

Qualifications

The successful candidate should have a strong track record in the RE Debt asset management function across the risk return spectrum with a focus on core and bridge lending of both performing and non-performing loans. The candidate will possess in-depth knowledge and exposure to real estate management, marketing, leasing, loan work outs and project management, particularly as related to the US markets in which Barings operates. The successful candidate will be a “player/coach,” demonstrating both leadership skills and a team-player reliability. Additional qualifications include:

  • A minimum of 15 years of real estate debt experience. Exposure to diverse product types is a plus (office, industrial, retail, multifamily, hotel). Third party investment management and special situations experience is a plus.
  • Excellent understanding of the strategic direction, culture, and mandate of Barings’ real estate division (and of Barings) and the ability to lead by example and communicate/model this to direct reports and field staff.
  • Demonstrated ability to manage change, render effective decisions, think conceptually, exercise flexibility, and show good judgment in assessing complex management, staffing, and business issues.
  • Exceptional presentation and communication skills, both oral and written; strong interpersonal skills.
  • Superior analytical, quantitative, and technical skills.
  • Rigorously organized and detail oriented, with the ability to multi-task.
  • Entrepreneurial and self-motivated.
  • Proven track record of building, leading, developing, and mentoring a team of customer-centric real estate professionals.

Barings is an Equal Employment Opportunity employer; Minority/Female/Age/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply.

Barings Offers a Comprehensive Benefits Package Including

CORE BENEFITS & WELLNESS

  • Medical (including Virtual Care), Prescription, Dental, and Vision Coverage.
  • Fitness Center Reimbursement Program (Including Online Memberships).
  • Employee Assistance Program (EAP).
  • Fertility Benefits.

FINANCIAL WELL-BEING

  • Highly competitive 401(k) Plan with Company Match.
  • Health Savings Account (HSA) with Company Contributions.
  • Flexible Spending Accounts (FSA) – Health Care & Dependent Care.
  • Retirement Health Reimbursement Account.

LIFE INSURANCE

  • Basic and Supplemental Life Insurance.
  • Spouse and Child Life Insurance.

TIME OFF, DISABILITY AND LEAVE OF ABSENCE

  • Paid Vacation, Sick Days and Annual Holidays.
  • Paid Leave of Absences (Maternity Leave, Parental Leave, Caregiver Leave, Bereavement Time).
  • Short and Long Term Disability Plans.
  • Paid Volunteer Time.

Other Benefits

  • Education Assistance Program.
  • Charitable Matching Gifts Program.
  • Commuter Reimbursement Program.
  • Adoption and Surrogacy Reimbursement Program.
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