What are the responsibilities and job description for the Vice President - Direct Lending position at Rialto Capital?
Summary
The Vice President / Asset Manager will work closely with asset managers, company leadership and professional service firms in the day-to-day management, advancement, and resolution of Floating Rating and Mezzanine loans in Rialto’s portfolio. This individual will have a blend of commercial real estate debt experience, commercial asset valuation, and legal contract experience. Strong analytic capabilities and exceptional communication and leadership skills are key desired attributes.
Key Responsibilities
The Vice President / Asset Manager will work closely with asset managers, company leadership and professional service firms in the day-to-day management, advancement, and resolution of Floating Rating and Mezzanine loans in Rialto’s portfolio. This individual will have a blend of commercial real estate debt experience, commercial asset valuation, and legal contract experience. Strong analytic capabilities and exceptional communication and leadership skills are key desired attributes.
Key Responsibilities
- Serve as the asset manager and contact person for internal, borrower, and third-party requests/concerns for assigned loans
- Proactive oversight and timely resolution of a portfolio of specially serviced CLO loans and other distressed debt assets
- Report to senior management updates on assigned loans
- Analyze property operating performance through review of operating statements, rent rolls and leases
- Evaluate and abstract loan documents
- Communicate effectively with internal and external parties including borrowers, legal counsel, property managers, other lenders, servicers, and other Rialto departments
- Negotiate complex transactions
- Perform research on various real estate markets throughout the U.S. and communicate with brokers in these markets
- Comprehensive analysis and understanding of loan collateral dynamics, value determination, and resolution alternatives
- Strong organizational skills with the ability to manage multiple priorities
- Prepare valuation and cash flow analysis on projected loan resolutions based on Borrower proposals including DCF / IRR / NPV scenarios for various strategies
- Underwrite potential new investment opportunities in CMBS, equity recapitalizations, asset/portfolio acquisitions, and mezzanine/preferred equity
- Prepare weekly, monthly, and quarterly reports for the executive team and outside parties.
- Underwrite performing loan requests for reserve disbursements, lease approvals, loan extensions and other requests as needed and ensure all requests are handled in compliance with the terms of the related Loan Documents
- Bachelor’s Degree from an accredited university is required, preferably in a related course of study like Commercial Real Estate or Finance
- Minimum of 5 years’ experience in the workout of non-performing commercial real estate loans or debt asset management
- Advance knowledge of commercial real estate, fixed income, and general financial concepts
- Knowledge of bank, conventional, agency, and/or CLO origination and servicing is recommended
- Ability to underwrite commercial real estate and/or residential acquisition, development, and construction transactions, as well as possess excellent verbal and written communication skills
- High level proficiency working with Microsoft Excel, Word, and PowerPoint, in addition to a basic competency working with Argus and CRE Market Data Providers
- Strong work ethic and attention to detail
- Ability to manage time effectively while handling a variety of projects
- Prior credit/real estate underwriting experience
- The ideal candidate would have a strong understanding of loan documents or demonstrate the aptitude to quickly become familiar with loan documents
- Strong written and verbal communication skills
- Ability to multi-task and collaborate within a team setting
- Must be team-oriented and work well in a collaborative environment