Job Description:

Job Classification:

Investment Management - Investment Operations

A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE

Our Vision:

At PGIM, we care about our employees, and we are committed to seeing them succeed. We provide our employees with access to professional development and support to help drive their success and ability to innovate.

What you will do:

PGIM Real Estate is seeking a Senior Asset Manager, Construction.  The candidate will be a part of the Construction Asset Management Team monitoring collateral, credit and portfolio performance for the commercial mortgage construction loan portfolio to ensure accurate and timely information is shared and reported across multiple capital sources.  Specific experience in Construction Asset Management is needed and experience in negotiating Construction Loan Administration terms is preferred. The candidate will work with team members, borrowers, legal counsel, production teams and others within PGIM Real Estate to ensure superior customer service is being provided and construction risk is mitigated in accordance with loan documents.  The construction portfolio consists of complex credit structures originated by multiple capital sources and includes multifamily, hospitals, healthcare, office, industrial, and mixed-use properties. 

The candidate shall possess good common sense and situational awareness, the ability to work well in a team environment while autonomously managing their own portfolio and relationships within, a sense of urgency, sound business judgment and will be dependable demonstrating an elevated level of integrity.

This team is following a hybrid schedule and are on-site three days a week.

What you can expect:

• Monitoring and managing a portfolio of construction projects from initial closing through stabilization including review of construction advances, processing change orders, budget maintenance, escrow disbursements and monitoring monthly progress reports across multiple capital sources.


• Monitoring business plans in multiple sectors to ensure timely execution of the defined exit strategy. 


• Drive the construction draw processes across stakeholders while providing innovative solutions to enable the funding of draws, within loan covenant parameters, in conjunction with project situations that arise so that projects track to schedule.


• Ability to drive closing process on various construction loans.


• Performing or coordinating inspections as needed.  Completing inspection reports and documentation with critical findings and incorporating issues in action plans. Inspections to include adherence to construction budget with variance reporting.


• Ensuring attention to detail and continuously improving the integrity of portfolio information to meet capital source reporting requirements and deadlines.


• Monitor covenant compliance.


• Preparing watchlist analysis and comments.


• Developing thorough understanding of a deal’s capital structure including any nuances related to funding and reserve disbursement conditions.


• Reviewing modification and restructure requests.


• Partnering with the Loan Services servicing team in monitoring and curing loan delinquencies, loan level suspense items, and monitoring letters of credit, as well as maturity/pre-payment forecasts.


• Maintaining and fostering relationships with borrowers, intermediaries, investors, and the originations teams.


• Making recommendations to multiple portfolio managers with different portfolio strategies in efforts to mitigate risk and foster favorable outcomes.  


• Preparing loan and portfolio level status reports on a monthly, quarterly, and ad-hoc basis for portfolio management.


• Staying current with all regulations, policies and procedures, and industry trends.


• Support and develop improvements in processes and technology.

The successful candidate will benefit from a broad exposure to different aspects of Loan Services’ commercial real estate servicing business including:

• Development of strong credit and construction loan administration skills


• Opportunity to work as part of a diverse experienced team.


• Exposure to various commercial property types (multifamily, healthcare and hospitals) and exposure to various real estate markets throughout the US


• Experience with multiple real estate capital sources and lending programs.


• Direct interaction with senior members of Loan Services, PGIM Real Estate, borrowers, investors and agencies


• Development of critical skills required in asset management and origination roles.

What you will bring:

• Bachelor’s degree required preferably in Finance, Economics, Mathematics, Real Estate or related discipline.


• Real Estate, Investment, Finance, or accounting experience (5+ years preferred)


• Exposure to FHA/HUD construction and/or Fannie and Freddie rehab experience a plus


• Affordable and LIHTC industry knowledge a plus


• Ability to work well in a team environment with a willingness to assist other team members.


• Proactive, self-starter with a sense of urgency


• Ability to think creatively and solve problems autonomously.


• Ability to drive numerous stakeholders towards solutions on various issues.


• Strong quantitative skills and demonstrated analytical ability.


• Strong customer service skills are essential, including the ability to create/build and maintain relationships with internal and external clients.


• Excellent written and verbal communication skills in speaking to internal and external clients.


• Strong organizational skills and attention to detail with ability to manage multiple projects and prioritize work based on established deadlines.

*We know not everyone will meet 100% of the requirements, however we encourage you to apply if you think your skills are a good fit for this role.

What we offer you:

• Medical, dental, vision, life insurance and PTO (Paid Time Off)


• 
  Retirement plans:
  
  
  • 401(k) plan with generous company match (up to 4%)
  
  
  • Company-funded pension plan
  
  
  
  


• 
  Wellness Programs to help you achieve your wellbeing goals, including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.


• 
  Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional health, and career development.


• 
  Tuition Assistance to help finance traditional college enrollment, approved degrees, many accredited certificate programs, and industry designations.

To find out more about our Total Reward package, visit Work Life Balance | Prudential Careers

About PGIM Real Estate

With $207.9 billion in gross assets under management and administration ($133.8 billion net),1 PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.

PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law. 

The Prudential Insurance Company of America, Newark, NJ and its affiliates.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.

PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com.

Please note that the above email is solely for individuals with disabilities requesting an accommodation.  If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.

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