SitusAMC is where the best and most passionate people come to transform our client’s businesses and their own careers. Whether you’re a real estate veteran, a passionate technologist, or looking to get your start, join us as we work together to realize opportunities for everyone, we proudly serve.
At SitusAMC, we are looking to match your unique experience with one of our amazing careers, so that we can help you realize your potential and career growth within the Real Estate Industry. If you are someone who can be yourself, advocate for others, stay nimble, dream big, own every outcome, and think global but act local – come join our team!
Our client is the Commercial Real Estate Finance group within the investment bank of a premier European-based global financial services institution. Their real estate group is consistently ranked among the top-10 global and US CMBS bookrunners, and they consistently look to grow their platform and expand into new products, including a budding balance sheet lending program.
Our relationship with our client dates back to 2012 and we provide a dedicated, integrated, on-site team to underwrite their Commercial Real Estate loans. This role is to join our dedicated team sitting on-site, working seamlessly with our client. In this position, you will be a SitusAMC employee seconded to the bank and fully dedicated to supporting the Investment Bank's Capital Markets team on-site.
Overall purpose of role:
Consumer Whole Loan Middle Office supports the Consumer Loan Trading Desk in its’ core trading strategy to trade mortgage loans in the secondary market. The Group supports a broad spectrum of consumer products (Student Loan, Automobile, Solar, Personal Loans and other). The group supports both performing, non-performing, and charged off receivables.
The role is being created to address the continued growth and breadth of the Consumer Whole Loan product suite as part of core Securitized Products business strategy. The group has expanded its lending and trading platform to include additional loan level and collateral controls in order to protect the firm from market and operational risks.
The Securitized Products IBMO team is expected to focus on controlling and safeguarding the firm’s assets while ensuring timely, accurate and efficient processing, confirmation, settlement of transactions and minimizing risk
Key Accountabilities:
Oversee Consumer Whole Loan Middle Office in the purchase, sale, and servicing of consumer receivables such as student, automobile, solar panel and personal loans
Oversee Consumer Whole Loan Servicing reporting for performing, non-performing and charged off receivables
Lead the team as a key influencer in workflow management, process development and contributing to building the culture within the Securitized Products Middle Office
Work with Trading, Finance, Credit, Operations, Technology management teams on building out the Consumer Whole Loan platform for the company and interface with customers, consumer loan servicers, and 3rd party custodians
Develop F2B capabilities by building out transaction and data flow capabilities by leveraging Web Portal interfaces and managing large data interfaces with service providers
Monitor daily workflows and queues to ensure that service levels are met; define and enhance performance metrics, and actively defines continuous improvements enhancements to drive efficiencies and control throughout product and transaction lifecycle events.
Operate risk management controls to ensure compliance and meet operational SLA’s
Support, recommend, define, and implement technology initiatives
Act as the main point of escalation for all consumer loan support functions
Responsible for all management and key performance metrics and related reporting
Work with management and desk on identifying volume / capacity thresholds as the client builds out trading capabilities. Leverage resources to meet business demand, identify patterns and trends causing issues and develop appropriate solutions
Monitor performance of staff according to established standards
Engaging with and managing Business and IT relationships throughout Project Life cycle
Has experience spearheading projects focusing on system development and migration
Oversee employee task completion / validate controls by reviewing daily, weekly, monthly work product
Process re-engineer to ensure operational efficiencies are maximized and / or address changes to regulatory and accounting framework.
Establish, document, and maintain departmental procedures and system requirements
Define UAT specifications and determine pass/fail thresholds prior to system deployment
Identify, escalate, and define system gaps and remediation
Stakeholder Management and Leadership:
Minimum 5 years in the Consumer Loan industry with experience in Capital Markets transaction management and mortgage loan servicing. Firm understanding of loan origination processes, agency, and non-agency loan programs
Experience with consumer loan servicing and investor reporting workflows and related reports (balance sheet, distribution summaries, escrow and tax reporting, collection reports.
Experienced with consumer loan data attributes / consumer collateral files
Excellent writing skills: ability to communicate effectively and professionally with internal/external stakeholders
Responsible for updating the firms balance sheet, accruals, and accounting entries
Knowledge of consumer loan servicing regulatory and investor reporting requirements
Advanced proficiency in Excel with ability to summarize data via formulas, lookups, pivot tables, etc.
Strong analytical and critical thinking skills with the demonstrated ability to meet deadlines and perform in a high-stress, fast-paced environment.
Ability to multi-task and work independently with minimum supervision.
Strong written and oral communications skills
Problem Solving (Real Time and Proactive approach to establishing robust and efficient processes / controls
Ability to identify and define IT opportunities to automate and promote scale
Work effectively across groups
Engage with Trading, Legal, Customers, and Client Infrastructure Partners (Credit Risk, PCG, IT, Settlements, Reference Data, and Reconciliation departments)
Interaction with all levels of management within the business and infrastructure groups
Act as a point person on business and regulatory initiatives. Expected to create project documents, UAT test scripts and Q&A analysis
Act as liaison between business and infrastructure partners. Should be able to clear articulate verbally and in written all business requirement
Decision-making and Problem Solving:
Excellent problem-solving skills and strong analytical ability. The role requires a strong attention to detail and ability to identify issues across multiple systems and process flows.
Requires individual who has the ability to handle multiple tasks and prioritize effectively to meet time sensitive deadlines.
Needs to identify control gaps and process inefficiencies and develop a plan to leverage automation. Work closely with IT partners to identify cost effective plan to increase efficiency.
Worked closely with colleagues to develop their business knowledge and problem-solving skills.
Risk and Control: All colleagues have to ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Client Policies and Policy Standards
Risk and Control Objective:
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Client Policies and Policy Standards
Basic Qualifications/Skills:
Bachelor’s Degree or equivalent work experience
5 years of Consumer Finance receivables, collections, servicing, and investor reporting
5 years’ experience with Residential and /or Consumer Loan Settlement. Knowledge of Consumer Loan Purchase and Sale Agreements, Servicing and Custodial Agreements a must
Strong Investor Reporting and Consumer Servicing knowledge is required
5 years’ industry experience
The annual full time base salary range for this role is ($130,000 - $250,000). Specific compensation is determined through interviews and a review of relevant education, experience, training, skills, geographic location and alignment with market data. Additionally, certain positions may be eligible to receive a discretionary bonus as determined by bonus program guidelines, position eligibility and SitusAMC Senior Management approval. SitusAMC offers PTO and paid holidays, the terms of which are set forth in the program policies. All full time employees also are eligible to participate in various benefit plans, including medical, dental, vision, life, disability insurance and 401K; in each case in accordance with the terms of the applicable plans.
Note: This job description is not intended to be all inclusive or exclusive. At any time, employees may perform other related duties as required to meet the ongoing needs of the organization and participate in additional trainings.
SitusAMC is an Equal Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.
EEO is the Law
SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume.
New Jersey, NJ, USA; New York, NY, USA
USA