Senior CRE Debt Asset Manager

3 days ago

New York, New York, United States PIMCO Full time
About PIMCO

PIMCO is a renowned global leader in active fixed income, boasting extensive expertise across public and private markets. Our team invests clients' capital across various fixed income and credit opportunities, leveraging decades of experience navigating complex debt markets.

Our flexible capital base and deep relationships with issuers have enabled us to become one of the world's largest providers of traditional and non-traditional solutions for companies that need financing and investors seeking strong risk-adjusted returns.

Since 1971, our people have shaped our organization through a high-performance inclusive culture, where we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility, and Excellence. Each of us is here to help others succeed, which has led to PIMCO being recognized as an innovator, industry thought leader, and trusted advisor to our clients.

About the Role

The Asset Manager will be a senior member of the US Commercial Real Estate (CRE) debt team, responsible for overseeing and proactively managing a portfolio of CRE debt investments. The key responsibility of this hire is to provide oversight to the existing private CRE loan portfolio, ensuring proper performance of loan assets held across multiple PIMCO fund vehicles.

Working within the US CRE debt team, the Asset Manager will monitor and manage debt investments across all phases of its life cycle post-origination. The individual must communicate frequently with other members of the US CRE team to capitalize on group synergies and ensure decisions are consistent with the overall investment thesis.

Key Responsibilities:
  • Assist in the ongoing and proactive asset management of a portfolio of debt investments up and down the capital stack to maximize value and minimize risk.
  • Build and enhance asset management reporting, portfolio analytical activities, and stress testing.
  • Actively monitor key performance indicators, property and financial performance, market conditions, servicing, and administration of project draws/fundings.
  • Proactively identify any potential credit/market risks as well as proposed solutions associated with the investment.
  • Ability to interpret and negotiate loan document terms.
  • Proactively work with external partners including borrowers, attorneys, servicers, co-lenders, financing partners, and third-party consultants.
  • Approve and oversee borrower execution of asset-level business plans.
  • Provide detailed investment performance information to internal and external parties.
  • Perform property site inspections (travel where required).
  • As needed, structure, underwrite, and seek approval for loan modifications.
  • Manage collateral valuation/re-underwriting process.
  • Coordinate setup of loans internally and work closely with the third-party servicing team.
  • Assist in capital markets activities with existing and new leverage providers.
  • Mentor junior associates.
  • Participate in the credit process and assist in underwriting, review of borrower business plans, and transition activities to asset management.
  • Assist in refining best-in-class asset management policies and procedures.
Qualifications:
  • 8 years of real estate credit experience in underwriting, originating, asset management, or servicing fields, experience in non-performing loans or other types of distressed preferred.
  • Ability to handle large loans ($100 Million and above) with a focus on transitional, redevelopment, and ground-up construction profiles.
  • Exceptional analytical skills, financial modeling skills, proficiency in Argus, and strong writing abilities.
  • Extensive experience in working with/negotiating/reviewing loan documents.
  • Outstanding academic credentials and demonstrated leadership capabilities.
  • Understanding of the legal structure, rights, and motivations for co-lending and junior/senior (inter-creditor) structures.
  • Strong work ethic and integrity; candidate should be a team player who is proactive and self-motivated.
  • Poised and articulate, well-refined communications skills - ability to analyze complex situations and articulate ideas and strategies clearly, both verbally and in writing.
  • Proven experience/skills working across cross-functional teams (internal/external constituencies).
  • Strong analytical skills and experience managing reporting and reviewing accounting functions.
  • Driven, energetic, well-organized, good administrative skills, attention to detail.
Benefits

PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and wellbeing of you and your family. Benefits vary by location but may include:

  • Medical, dental, and vision coverage.
  • Life insurance and travel coverage.
  • 401(k) (defined contribution) retirement savings, retirement plan, pension contribution from your first day of employment.
  • Work/life programs such as flexible work arrangements, parental leave and support, employee assistance plan, commuter benefits, health club discounts, and educational/CFA certification reimbursement programs.
  • Community involvement opportunities with The PIMCO Foundation in each PIMCO office.

PIMCO follows a total compensation approach when rewarding employees, which includes a base salary and a discretionary bonus. Base salary is the fixed component of compensation that is determined by core job responsibilities, relevant experience, internal level, and market factors. The discretionary bonus is used to award performance and therefore is determined by company, business, team, and individual performance.

Salary Range: $205,000.00 - $240,000.00

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