- Entry level
- No Education
- Salary to negotiate
Director, Asset Management High Yield Group (Dallas, TX)-PAR0008N
Prudential Asset Resources (“PAR”) is a subsidiary of PGIM Real Estate Finance and is one of the largest commercial and multifamily mortgage servicing firms in the nation. PAR is seeking a Director to manage the High Yield Real Estate Fund portfolio. This position will be located in Dallas, TX. The successful candidate will manage a short-term, leveraged portfolio of pre-stabilized, transitional mortgage loans and mezzanine loans. The Director must have:
• Strong understanding of financial statements, models, capital structures and credit markets.
• Proficiency in analyzing company business plans, generating and calibrating financial models, and applying critical thinking skills.
• Ability to make recommendations to multiple portfolio managers with different portfolio strategies.
• Skills to train and motivate the team to perform complex jobs effectively and efficiently.
The incumbent will be responsible for the oversight and performance of the High Yield Transitional Asset Management Team and will work closely with the the staff to achieve results. The Director, Asset Management will work with the Vice President of Asset Management to develop and implement processes to support and meet corporate goals and objectives. The incumbent will also work with Portfolio Managers, Originators, Closers and others within PGIM REF to ensure superior customer service is being provided to borrowers and investors while maintaining accuracy and credit quality.
Provide oversight to the team on comprehensive surveillance, collateral monitoring and complex borrower credit issues including timely execution of defined exit strategy
Monitor all surveillance including market trends and asset management activity and ensure compliance with credit guidelines, internal policies and procedures, servicing agreements and industry standards
Manage and/or coordinate hiring, evaluating, training and motivating the team
Mentor and coach the team
Supervise monthly surveillance, asset summary reporting and watch list criteria
Review current processes and develop and implement new processes as appropriate to improve productivity, efficiency and customer service
Provide oversight and direction for work load balancing and staffing strategy
· A minimum of 10-15 years Asset Management experience
· A minimum of a BS / BA degree in real estate, finance, accounting or a related discipline and an MBA / MS and / or advanced certification / professional designation is a plus
· Exceptional credit skills, judgment and decision-making skills plus demonstrable Asset Management technical skills
· Extensive understanding of the High Yield Bond and Leverage Loan markets including trends and the implication of those trends on credit selection
· Prior experience with structured debt products is preferred
· Strong leadership abilities, with demonstrated capability to manage, mentor and develop team members
· Effective interpersonal skills with the ability to develop and foster internal and external relationships with business partners
· Ability to multi-task and prioritize accordingly
· Strong analytical and problem-solving skills with the ability to lead in a time sensitive environment where meeting established deadlines is critical
· Excellent written and verbal communication skills
· Ability to travel as needed to attend industry conferences, management meetings and property inspections
· Individual should have an open, creative and innovative mindset
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
About the company
For over 140 years, Prudential Financial (NYSE:PRU) has helped people grow and protect their wealth. We offer individual and institutional clients a wide array of financial products and services. Today, we are one of the world’s largest financial services institutions. We have over $1 trillion of assets under management as of March 31st, 2017, and approximately $3.7 trillion of gross life insurance in force worldwide as of Dec. 31, 2016. We have operations in the United States, Asia, Europe and Latin America. We also have one of the most recognized and trusted brand symbols: The Rock® , an icon of strength, stability, expertise and innovation. We measure our long-term success on our ability to deliver value for shareholders, meet customer needs, attract and develop the best talent in our industry, offer an inclusive work environment where employees can develop to their full potential, and give back to the communities where we live and work. (Pru.us/disclaimer)