What are the responsibilities and job description for the Construction Asset Management position at Bayview Asset Management?
Overview:
RESPONSIBILITIES:
QUALIFICATIONS/SKILLS:
ABOUT US:
Founded in 1993, Bayview Asset Management is an investment management firm focused on investments in mortgage and consumer credit, including whole loans, asset-backed securities, mortgage servicing rights, and other credit-related assets.
POSITION SUMMARY:
The Asset Manager will oversee a portfolio of commercial bridge and construction loans and CPACE (Commercial Property Assessed Clean Energy), ensuring compliance with financing agreements, optimizing performance, and managing risk. This role demands a strategic thinker with a strong background in real estate asset management and construction financing and administration.
RESPONSIBILITIES:
- Portfolio Management: Monitor, analyze, and manage a portfolio of CPACE and commercial construction and bridge loans, ensuring compliance with covenants, conditions contained in Loan Agreements and maximization of returns.
- Construction Draw Oversight: Conduct quality control and reconciliation of construction draws in line with lender and program guidelines, including budgets, schedules, and lien reviews.
- Risk Assessment: Evaluate underlying loan performance and identify potential risks including market construction, capital markets (refinance risk), and leasing, etc. Identify mitigants and potential opportunities to restructure or enhance the lender’s security position.
- Strategy Development: Implement asset management strategies to optimize portfolio performance and mitigate identified and perceived performance risks.
- Performance Monitoring: Regularly review and report on financial performance, conduct cash flow analysis to test adherence with covenant compliance, and regulatory requirements.
- Stakeholder Communication: Serve as the liaison among internal teams, external partners, and stakeholders to ensure smooth project execution.
- Portfolio Growth Opportunities: Identify refinancing, restructuring, or growth opportunities to enhance portfolio returns.
- Regulatory Awareness: Stay updated on industry trends and regulatory changes related to CPACE financing and commercial real estate lending.
- Reporting: Deliver detailed updates and reports to senior management and clients on portfolio performance.
QUALIFICATIONS/SKILLS:
- Bachelor’s degree preferably in Finance, Real Estate, Business Administration, or a related field.
- 5-7 years of professional work experience preferred with an emphasis on construction lending and/or asset management.
- At least 2 years of experience in commercial asset management or lending with a focus on construction loans.
- Proficiency in interpreting financing agreements, underwriting criteria, understanding of CPACE Program Administration Agreements would be viewed positively.
- Proven success in managing complex real estate assets and construction loan portfolios.
- Strong analytical skills for interpreting financial data and assessing risks.
- Effective written and verbal communication skills for collaboration with diverse stakeholders.
- Attention to detail with exceptional organizational and project management abilities.
- Advanced skills in financial modeling and asset management software.
- Strong working knowledge of Excel.
- Experience with GetBuilt is preferred.
LOCATION and COMPENSATION:
- This role will be based in Bayview’s New York, NY office.
- This role will be either 100% in office or Hybrid (with at least 4 days in the office).
- Base compensation is expected to be $130,000- $190,000 with the opportunity for incentive compensation including bonus compensation.
Salary : $130,000 - $190,000
