Job Description

Amherst is on a mission to transform the way real estate is created, owned, financed, and managed. Amherst leverages its proprietary data, analytics, technology, and decades of experience to seek solutions for a fragmented, slow-to-evolve real estate ecosystem and to materially improve the experience for residents, buyers, sellers, communities, and investors. Today Amherst has over 1,100 employees and $14.1 billion in assets under management.

Over the past decade, Amherst has scaled its platform to become one of the largest operators of single-family assets and has acquired more than 46,500 homes across 28 markets (30 cities, 19 states) in the U.S. The firm delivers customized, stabilized cash-flowing portfolios of assets to its investors, wrapped in all the ongoing services required to manage, own, and finance the asset including property management, portfolio management, and a full capital markets team. In addition to its single-family rental platform, Amherst’s debt business pursues two distinct credit strategies in mortgage-backed securities and commercial real estate lending. Over its 27-year history, Amherst has developed a deep bench of research and technology talent, and leverages data and analytics at every stage in the asset lifecycle to improve operations and preserve long-term value for our investors and the more than 188,000 residents the firm has served.

Our Portfolio Management team sits at the center of the action, serving as leaders and collaborators with every function that serves the lifecycle of our investment products. We seek highly motivated individuals to play a key role in execution of portfolio and asset optimization for our CRE strategies. We communicate with leading institutional investors and capital providers daily and must articulate our strategy and performance well. We are subject matter experts in investment strategy, asset management, debt optimization, cash management, financial reporting and performance, valuation, and valuation attribution. This high visibility team serves as the internal fiduciary for investors – working across all departments to ensure key messages, analysis, and strategy implementation result in optimal portfolio performance.

Job Summary

The Vice President-Asset Management will manage a portfolio of assigned commercial real estate debt investments, identifying deviations from agreed upon performance and taking the appropriate remedial steps, identifying and managing risk, managing liquidity and overseeing servicing and reporting activities. The individual will assist with closing of new transactions and will monitor borrowers' operating performance, transitional business plan execution and borrower deliverables, working to build strong relationships with borrowers and other constituents. This person will report to the Head of Portfolio Management and will work with the CFO to manage leverage facilities, CLOs and other leverage structures to optimize the levered return performance of the loan portfolio and will be responsible for performance management and track record reporting. The Vice President will work closely with and oversee Analysts and other team members.

RESPONSIBILITIES

Asset Management

Manage the servicing and asset management functions for a portfolio of CRE debt investments
Conduct financial analysis of credit and collateral of borrowers, with emphasis on data accumulation and trend analysis
Perform financial, operational, valuation, underwriting, and transactional analysis
Complete quarterly loan risk assessments and quarterly investor / CLO business plan updates
Complete recurring servicing reporting requirements for warehouse and CLO debt facilities
Lead the negotiation, underwriting, analysis, and documentation of loan modifications
Calculate expected investment returns monthly based upon updated financial assumptions
Assist in the negotiation of loan documents and facilitate the closing process of new loan originations
Interact with various management staff
Travel to property and client locations
Additional ad-hoc responsibilities based on the needs of the portfolio

Legal / Structuring

Collaborate with the Legal team in evaluating structuring options in connection with new investments and the modification of existing investments

Risk Management

Identify, assess and work across teams to mitigate portfolio risk (market, operational, leverage, platform) to ensure targeted risk / return profile is maintained consistent with client risk appetite

Reporting

Serve as the primary contact with the Fund Accounting and IR Teams to ensure the timely and accurate delivery of all client and Amherst internal reporting deliverables, with primary responsibility for all market and portfolio commentary included in reports

Analytics

Model scenarios for optimization, including IRR analysis, valuation attribution analysis, cash flow pro formas, and others – Requires ability to build, execute, and manage complex models and related data infrastructure

Financial Planning and Analysis

Oversee the budgeting, modeling and performance management process associated with each assigned fund and account in order to provide clear, accurate data and forecasting to support reporting, cash management, benchmarking and strategic decision-making

Capital Markets

Collaborate closely with the Debt Capital Markets Team to achieve flexible and efficient leverage for portfolios, including assessment of initial leverage options, modeling of leverage outcomes, monitoring with DCM of debt covenants and periodic analysis of market alternatives for relevering portfolios, providing a dynamic view on leverage that optimizes the risk / return trade-off for each portfolio

Research / Insights

Integrate Amherst proprietary research, independent research and market insights into the portfolio construction, management and allocation process

Leadership

Lead, train, mentor, and guide team members to ensure a high-quality work product, on time deliverables and career progression

Coordination

Coordinate work product and deadlines with legal, tax, accounting, and regulatory parties

Presentations

Prepare board and executive-level reporting and materials on tight timelines and participate in the presentation of materials to internal and external stakeholders

QUALIFICATIONS

Bachelor’s degree in Real Estate, Economics, Accounting, or Finance, CFA a plus
7-10+ years of experience in CRE private debt asset management / investment management (commercial bank, investment bank, private equity, specialty finance, real estate finance, mezzanine firm) required
Familiarity with real estate fundamentals for retail, office, multi-family, industrial and other niche property types and knowledge and familiarity with capital markets
Comprehensive understanding of net present value, internal rate of return, cap rates and discount rates. Must have analytical and organizational skills and be able to articulate fully the facts related to the transaction
Experience managing a team, leading full processes start-to-finish, and engaging with investors
Excellent executive communication skills with a desire to develop detailed, diverse real estate expertise
Mature knowledge of business modeling in Excel and ability to read financial statements and disclosures
High standards of accuracy and precision; strong attention to detail; highly organized
Excellent analytical and problem-solving skills
Strong verbal, quantitative, and written communication skills required
Ability to work effectively under tight time constraints, and multi-task in a fast-paced environment
Excellent computer skills with proficiency in Argus, Excel, Word, and Power Point
Ability to travel on short notice and to work a flexible schedule
Prior experience in CRE debt with demonstrated ability to:
o     Run portfolio teams and complex financial modeling (advanced Excel and PPT skills)
o     Apply deep understanding of deal structuring and financing (debt, equity)
o     Shift gears with emerging data points and proactively manage expectations, suggesting solutions
o     Interpret and present analysis thoughtfully
o     Manage self and team’s time efficiently; take initiative to work independently and as part of a team
o     Consult with and present to senior management and clients and prospective clients
o     Present a keen interest in understanding and following capital markets
o     Independent, logical, and critical thinker with solutions-orientation when presenting problems