SVP, Head of Asset Management bei Berkshire Residential Investments

Company Overview

Berkshire Residential Investments is a people-first real estate investment company who values not only the impact we make as a company, but the time we spend together in our high-performing teams. We value individual skills and perspectives to allow us to best serve our employees, investors, residents, and other stakeholders.

If you’re interested in a workplace where everyone feels empowered to bring their full, authentic selves to work each day, come join our talented and growing team at Berkshire Residential Investments. Our environment of entrepreneurial spirit, culture of expertise and our people-first approach will allow you to thrive while continuing to grow in your career.

Position Summary 

The SVP, Head of Asset Management is responsible for providing support to the Chief Credit Officer (“CCO”) through oversight of the Debt Investments portfolio. The candidate should be solution-oriented, a skilled people manager and team leader, have excellent communication skills, an ability to provide strategic perspective, navigate challenges independently, and influence key stakeholders. Achieved through day-to-day management and leadership of the Bridge Asset Management team, continual focus on identification and implementation of process improvements, efficiencies, and streamlining activities; ensure ongoing communication between front and back-end teams; and proactive risk management, data and reporting activities.

Responsibilities include, but are not limited to:

• Manage and lead the Bridge Asset Management team
  • Responsible for the day-to-day management and strategic direction of the Asset Management team
  • Identify and implement process efficiencies, enhancements, and improvements in the Asset Management team and throughout the post-closing processes
  • Ensure best practices are being followed
  • Ensure focus of the AM team is on proactive loan monitoring, in addition to ongoing tasks and requests that need to be analyzed, reviewed, and responded to
  • Focus on early identification of risks, recommending risk mitigation strategies, and communication with Senior MF1 leaders, as warranted
  • Provide oversight and guidance of AM issues, make decisions, communicate/negotiate with sponsors as needed, and ensure appropriate delegation within the team(s)
  • Focus on maturity management process, to include financial analysis, proactive communication with sponsors and senior leadership
• Primary driver for process review, improvement and implementation for Asset Management
• Collaborate in the coordination of activities and functions between AM, SAM, and SS (the “MF1 Asset Management Verticals”)
• Reporting and Governance Initiatives
  • Manage the Debt Investments Data team, driving data initiatives in pursuit of improved reporting, greater efficiencies in completing AM and Sub-servicer/Special Servicer tasks (includes Risk Rating Model, RealInsights, CLO, and other ongoing reporting)
  • Lead quarterly portfolio and asset level reviews, ensuring appropriate loan level ratings and reporting
  • Create, implement and own comprehensive risk reporting – including overall concentration and exposure risks, AM Dashboards, trend analyses, maturity management, risk rating, NCF and expense analyses, RealInsight. Seek ongoing enhancements.
  • Active participant in Quarterly Valuation Process in Debt Investments, responsible for timely valuation analysis, review of valuations, identification of potential impairments in coordination with Portfolio Management and Head of Valuation Committee
  • Ensure ongoing communication between front and back-end teams; trends in the market and portfolio to be a topic of routine discussion and engagement.
  • Own and maintain Asset Management Policies and Procedures
• Support capital raising efforts on behalf of the BRI Debt Platform, directly facing clients; participating in client meetings as needed; providing capital raise due diligence efforts
• Support Portfolio Management, Debt Strategies, Investments, and Capital markets with investor reporting, follow-up and meetings as necessary
• Participate in national and regional trade associations that further Berkshire’s business, including ULI, National Multi-Housing Council, and other appropriate organizations
• Consistently demonstrate use of tact and discretion

Knowledge/Experience:

• Minimum 15 years’ experience in commercial real estate in the multi-family sector in multiple geographies
• Experience in both debt and equity transactions preferred
• Savvy and experienced asset management of multifamily debt and equity transactions, including in the distressed arena
• Effective negotiations skills, including, but not limited to, knowing what’s important, creating win/win opportunities, knowing when to be flexible, when to be firm and knowing when to ask for investment committee guidance
• Demonstrated successful experience in re-structuring debt, mezzanine and preferred equity deals
• Demonstrated management skills with track record of building teams and identifying, mentoring, and growing talent in-person and virtually
• Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem solving
• Demonstrated multi-modal communication style that reaches every stakeholder, specifically excellent verbal, and written communications
• Collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic
• Proficiency and willingness to adopt new systems and processes

Technical/Educational Requirements:

• Undergraduate degree is required. MBA, CFA or equivalent experience and training preferred
• Demonstrated advanced financial modeling and Excel skills required
• Demonstrated ability to use and learn new technology (e.g., computers/hardware, mobile, software, cloud-based programs)
• Proficiency with computers, keyboards, monitors and telephone headsets.
• Proficiency in Microsoft Suite of Products (e.g., Word, Outlook, Excel, Teams, Power Point) and Document Management Systems

Berkshire Residential offers an excellent benefits package, focusing on our employees’ total health and wellness. We offer programs and incentives that promote physical, mental, financial, and behavioral wellbeing both within and beyond our workplace. Please visit our Careers page for full details – and to learn more about how we value our employees.

Berkshire Residential values diversity, equity, inclusion and belonging. Berkshire is committed to providing equal opportunity in all practices, including employees and applicants for employment. We ensure that decisions affecting employees are made without regard to their race, color, creed, national origin, age, disability, gender, gender identity, sexual orientation, or any other protected status.