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The VP/SVP, Deputy Chief Credit Officer will support ownership and growth of Debt Strategies (Acquisition and Asset Management), ensuring appropriate risk management in conjunction with the Chief Credit Officer.

ESSENTIAL FUNCTIONS: (These are the main duties/tasks of the position)

  • Work with Chief Credit Officer (“CCO”) to oversee the screening, underwriting, closing and asset management of Berkshire Debt Strategies
  • For bridge loans, work with Senior Underwriters to ensure investments are underwritten to Berkshire standards
  • Monitor cash flow underwriting
  • Perform site inspections as necessary
  • Meet Sponsors as necessary
  • Review presentation materials for accuracy and content
  • Work with CLO team to prepare materials for securitization or other exit strategies
  • For other debt investments, work with Portfolio Management to ensure prudent underwriting and analysis
  • Monitor cash flow underwriting
  • Perform site inspections as necessary
  • Review presentation materials for accuracy and content
  • Proactively identify or work with team members that have identified, transaction weaknesses and issues. Be a resource in mitigating risks and working to resolve deal issues with internal and external stakeholders
  • Attend all Loan Screening Committees
  • Attend all Investment Committee meetings
  • Be key Investments contact for Limekiln underwriting teams and BRI Senior Underwriters to assist in providing solutions and support for loans pre- and post-closing (including reporting, valuation)
  • Attend and jointly oversee quarterly portfolio and asset reviews
  • Be senior reviewer of quarterly CLO reports
  • Support the sourcing and structure of Debt Fund investments (K Pools and Other)
  • Review Underwriting
  • Work with PM and VP, Special Assets to ensure proper on-going asset management of portfolio loans
  • Support the BRI Debt Platform Asset Management
  • Work with Underwriting, Closing and Asset Management teams to ensure loan handoff (from Underwriting/Closing to Asset Management) encompasses all deal issues and required follow-up
  • Provide guidance on various asset management issues including draw requests, loan modifications / assumptions / transfers
  • Direct involvement in major asset management decisions including large draw requests, significant deviations from business plans, major loan modifications
  • Provide risk assessment of debt investments, including overall concentration and exposure risks, and provide feedback to internal and external stakeholders
  • Assist with identification and implementation of operational efficiencies
  • Support capital raising efforts on behalf of the BRI Debt Platform, directly facing clients; participating in client meetings; providing capital raise due diligence efforts
  • Support Portfolio Management, Debt Strategies, Investments, and Capital markets with investor reporting, follow-up and meetings as necessary
  • Participate as a senior team member in the overall Berkshire business and to grow the business and footprint in geographic region they are responsible for
  • Participate in national and regional trade associations that further Berkshire’s business, including ULI, National Multi-Housing Council, and other appropriate organizations
  • Consistently demonstrate use of tact and discretion.

JOB QUALIFICATION REQUIREMENTS:

  • Knowledge/Experience:
  • Minimum 10 years’ experience in commercial real estate in the multi-family sector in multiple geographies
  • Experience in both debt and equity transactions preferred
  • Savvy and experienced underwriting and structuring of multifamily debt and equity transactions, including in the distressed arena
  • Sophisticated structuring of joint ventures containing promotes, splits, preferred returns, etc.
  • Knowledge of full capital structures and how best to structure transactions for maximum return
  • Effective negotiations skills, including, but not limited to, knowing what’s important, creating win/win opportunities, knowing when to be flexible, when to be firm and knowing when to ask for investment committee guidance
  • Demonstrated successful experience in structuring equity, mezzanine and preferred equity deals
  • Demonstrated management skills with track record of building teams and identifying, mentoring, and growing talent in-person and virtual
  • Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem solving
  • Demonstrated multi-modal communication style that reaches every stakeholder, specifically excellent verbal, and written communications
  • Collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic
  • Proficiency and willingness to adopt new systems and processes.
  • Demonstrate emotional intelligence in high pressure and sensitive situations
  • Ability to see, analyze and understand business dealings in terms of the overall business plan
  • Tenacity, patience, and perseverance to work with business deals from beginning to end of process
  • Represent the Berkshire employment brand well to candidates by seeking to understand the capabilities and insights of people with unique backgrounds, cultures, styles, and abilities
  • Maintain confidentiality of sensitive information and communications of information
  • Develop productive working relationships with all team members including internal clients and external third parties
  • Demonstrated high level of ethics and integrity with a straightforward and honest approach
  • Technical/Educational Requirements:
  • Undergraduate degree is required. MBA, CFA or equivalent experience and training preferred
  • Demonstrated advanced financial modeling and Excel skills required
  • Demonstrated ability to use and learn new technology (e.g., computers/hardware, mobile, software, cloud-based programs)
  • Proficiency with computers, keyboards, monitors and telephone headsets.
  • Proficiency in Microsoft Suite of Products (e.g., Word, Outlook, Excel, Teams, Power Point), Treeno, and Document Management Systems

Berkshire Residential offers an excellent benefits package, focusing on our employees’ total health and wellness. We offer programs and incentives that promote physical, mental, financial, and behavioral wellbeing both within and beyond our workplace. Please visit our Careers page for full details – and to learn more about how we value our employees.

Berkshire Residential values diversity, equity, inclusion and belonging. Berkshire is committed to providing equal opportunity in all practices, including employees and applicants for employment. We ensure that decisions affecting employees are made without regard to their race, color, creed, national origin, age, disability, gender, gender identity, sexual orientation, or any other protected status.

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Confirmed 10 hours ago. Posted 30+ days ago.

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