Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year end December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of March 31, 2024, Newmark's company-owned offices, together with its business partners, operate from approximately 170 offices with 7,600 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
We are seeking a Reserve Analyst to conduct timely and accurate review of special purpose reserve requests, including but not limited to Replacement Reserves, Completion Repair Reserve, and Tenant Improvement and Leasing Commission Reserve, in full compliance with all investors, trustee, rating agency, regulatory and internal requirements, and provide oversight of Letters of Credit provided in lieu of cash reserve deposits.
The position is located in Lower Gwynedd, PA.
RESPONSIBILITIES
Essential Duties and Responsibilities
Clear communication skills for corresponding with borrower/ borrower representative
Diligent progress tracking of the reserve requests
Escalation of substandard work, delayed progress and/or other anomalies
Maintenance of the tracking database
Timely processing of draw packages
Loan Documents: The Reserve Analyst will read, understand and effect the unique requirements of each loan relative to the reserve provisions.
Customer Service: As a client-facing role, the Reserve Analyst will communicate the borrower obligations required by the loan documents and provide prompts and guidance to the borrower to meet these obligations in a positive, constructive and supportive manner.
Compliance: The Reserve Analyst will monitor the progress and scope of repairs relative to the requirements of the loan documents, the Investor guidelines and department policy. Special attention will be paid to repair due dates.
Communications: The Reserve Analyst will provide systematic outreach to borrowers via email and phone work consistent department policy. The tenor and tone of communications will integrate both customer service and the need for compliance.
Database Maintenance: The Reserve Analyst will provide timely updates to the department tracking systems as well as Investor systems.
Draw Processing: The Reserve Analyst will assess each reserve draw submitted by the borrower to verify that all items are qualified and properly documented. Once complete, the Reserve Analyst will recommend and document the disbursement of funds.
Monitor and validate Letter of Credit (LoC) renewals
Monitor credit ratings for banks from which LoCs are issued
Administer custody and prepare required documentation to facilitate a draw (if needed)
Assist with special projects when assigned
Core Competencies:
Judgment: The ability to balance the customer service and compliance components to the satisfaction of the borrower, management, and the Investors and the knowledge to escalate in the event of imbalance.
Communications: The ability to listen and speak effectively with borrowers, staff and Investors in impromptu circumstances. Strong reading and writing skills are required for both internal and external documents.
Discipline: The ability and aptitude to maintain multiple databases on a real time basis. Must embrace the need for data integrity and timeliness.
Organizational Skills: The ability to prioritize and progress multiple tasks on a strict timeline
Technology: The ability to confidently work with various Investor systems, and internal systems
Qualifications:
Bachelor's degree preferred
Effective phone presence
Past experience with legal documents and contracts a plus
Working knowledge of MS Office suite, Outlook and experience with database maintenance
Benefits and Perks:
Industry leading Parental Leave Policy (up to 16 weeks)
Generous healthcare
Bright Horizons back-up care program
Generous paid time off
Education reimbursement
Referral Program
Opportunities to network and connect
Benefits/perks listed may vary depending on the nature of your employment with Newmark and the job location.
Working Conditions: Normal working conditions with the absence of disagreeable elements.
Note: The statements herein are intended to describe the general nature and level of work being performed by employees, and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.
Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.
