Delray Beach, FL
Salary Estimate: $125,000.00 - $149,999.00
Employment Type: Full Time
Work Place: Office
Experience Required: 10+ to 15 years
Education Required: 4 Year College
Job Description
Job Title: Asset Manager / Portfolio Manager
Location: Delray Beach
Department: Asset Management
Reports to: Chief Risk Officer
About Forman Capital:
Forman Capital is a leading provider of real estate investment and financing solutions. The firm focuses on short-term construction financing, bridge loans, mezzanine debt, and preferred and JV equity across a variety of real estate asset classes and geographies. With a strong track record of successfully managing and servicing a diversified portfolio, Forman Capital focuses on delivering optimal outcomes for its investors and stakeholders through strategic asset management and loan servicing. We are committed to excellence, innovation, and integrity in everything we do.
Job Overview:
Forman Capital is seeking to expand its team with a full-time Portfolio Asset Manager to join our growing team. You will be responsible for proactively monitoring loan performance and conducting loan surveillance, from construction loan funding through to repayment, for a portfolio of commercial real estate loans. The Portfolio Manager will report directly to the Chief Risk Officer, (CRO), and oversee and work alongside the Asset Management team.
This role will focus on managing loans in our portfolio, ensuring their performance, mitigating risk, and ensuring compliance with agreements and regulations. The ideal candidate will have a strong background in asset management from a financing perspective, and the ability to collaborate with internal teams to optimize portfolio performance.
Key Responsibilities:
1. Asset Management (Loan-Focused):
o Actively monitor the financial performance of loans within the portfolio, including tracking payment history, analyzing delinquencies, and identifying potential risks
o Review and analyze loan documentation and performance data to assess asset health and recommend improvements or interventions where necessary to CRO.
o Tracking of all loan covenants with a firm understanding of construction loan agreements.
o Implement strategies for managing the risk and return profile of loans in the portfolio, including conducting regular assessments of loan-to-value (LTV) ratios, debt service coverage ratios (DSCR), and other relevant metrics.
o Escalate non-compliance or elevated risk on loans to CRO with recommendation for resolution.
o Implementation of Credit approved resolutions to non-compliant loans.
o Work closely with Chief Risk Officer to evaluate portfolio trends, identifying opportunities to improve asset performance or adjust strategies.
2. Construction Draws and Oversight:
▪ Review and approve construction draw requests from developers, ensuring that the requested amounts align with the progress of construction and meet the terms outlined in loan agreements.
▪ Coordinate with developers, general contractors, and engineers to verify that construction progress is on schedule and funds are being used effectively and efficiently.
▪ Monitor and manage draw schedules, ensuring that each disbursement is justified based on work completed and in compliance with the project’s budget and timelines.
▪ Ensure that necessary documentation, such as invoices, progress reports, and lien waivers, are submitted and reviewed for accuracy before approval of draws.
▪ Coordinate with third-party inspectors to assess construction progress, verify the accuracy of reported work, and confirm that the project is proceeding according to the development plan.
▪ Collaborate with the development team to identify potential delays, cost overruns, or risks, and work proactively to address these challenges, keeping all stakeholders informed.
o Prepare recommendations for funding for CRO’s approval and ensure funding within required timeframe.
o Interface with institutional banks for draw submissions.
o Prepare detailed reports on loan portfolio performance, summarizing key trends, challenges, on a weekly basis for review with CRO.
3. Risk Management & Compliance:
o Conduct ongoing risk assessments of the loan portfolio, focusing on credit quality, payment history, and borrower financial stability.
o Assist in the identification and resolution of potential defaults or distressed assets, implementing strategies approved by CRO and Credit Committee.
o Assist with quarterly and annual portfolio valuations, working closely with Chief Risk Officer to assess asset performance.
o Assist in loan workout and restructuring efforts for distressed loans, including the development of strategies to maximize recovery and minimize loss.
4. Reporting & Communication:
o Oversee the daily administration and management of the portfolio of performing and non-performing loans, including tracking loan performance.
o Manage borrower communication, addressing inquiries, and ensuring compliance.
o Prepare and present regular portfolio updates, asset performance reviews, and servicing reports to CRO.
o Maintain strong relationships with borrowers, and third-party service providers, ensuring open communication channels and timely problem resolution.
Qualifications:
• Bachelor’s degree in Finance, Business, Real Estate, or related field.
• 10-15 years of experience in asset management, loan servicing, or a related financial services role, with a focus on real estate or commercial lending.
• Strong understanding of real estate finance, loan servicing best practices, and portfolio management.
• Experience with managing loans through their lifecycle, from origination to servicing and resolution.
• Proficiency in financial analysis, including the ability to assess and interpret financial statements, loan agreements, and other relevant documents.
• Well versed in reading and interpretation of legal documents.
• Familiarity with loan performance metrics such as LTV, DSCR, and portfolio concentration.
• Strong attention to detail, organizational skills, and ability to manage multiple projects simultaneously.
• Excellent communication and interpersonal skills, with the ability to work effectively with internal teams and external partners.
• Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint). Knowledge of loan servicing or asset management software is a plus.
Preferred Skills:
• Experience with distressed asset management or non-performing loan portfolios.
• Knowledge of loan modification, forbearance, and workout strategies for distressed loans.
• Certification such as CFA, CAIA, or ARM is a plus.
• Experience with legal documentation, loan default processes, and foreclosure procedures.
Why Forman Capital?
At Forman Capital, we offer a dynamic and collaborative work environment where employees are empowered to grow and make meaningful contributions. As an Asset Manager / Loan Servicer, you will play a critical role in managing a diversified loan portfolio and driving portfolio performance. If you are looking to take the next step in your career with a forward-thinking, growth-oriented company, we encourage you to apply today.
Forman Capital is an Equal Opportunity Employer.
We celebrate diversity and are committed to creating an inclusive environment for all employees.
Location: Delray Beach
Department: Asset Management
Reports to: Chief Risk Officer
About Forman Capital:
Forman Capital is a leading provider of real estate investment and financing solutions. The firm focuses on short-term construction financing, bridge loans, mezzanine debt, and preferred and JV equity across a variety of real estate asset classes and geographies. With a strong track record of successfully managing and servicing a diversified portfolio, Forman Capital focuses on delivering optimal outcomes for its investors and stakeholders through strategic asset management and loan servicing. We are committed to excellence, innovation, and integrity in everything we do.
Job Overview:
Forman Capital is seeking to expand its team with a full-time Portfolio Asset Manager to join our growing team. You will be responsible for proactively monitoring loan performance and conducting loan surveillance, from construction loan funding through to repayment, for a portfolio of commercial real estate loans. The Portfolio Manager will report directly to the Chief Risk Officer, (CRO), and oversee and work alongside the Asset Management team.
This role will focus on managing loans in our portfolio, ensuring their performance, mitigating risk, and ensuring compliance with agreements and regulations. The ideal candidate will have a strong background in asset management from a financing perspective, and the ability to collaborate with internal teams to optimize portfolio performance.
Key Responsibilities:
1. Asset Management (Loan-Focused):
o Actively monitor the financial performance of loans within the portfolio, including tracking payment history, analyzing delinquencies, and identifying potential risks
o Review and analyze loan documentation and performance data to assess asset health and recommend improvements or interventions where necessary to CRO.
o Tracking of all loan covenants with a firm understanding of construction loan agreements.
o Implement strategies for managing the risk and return profile of loans in the portfolio, including conducting regular assessments of loan-to-value (LTV) ratios, debt service coverage ratios (DSCR), and other relevant metrics.
o Escalate non-compliance or elevated risk on loans to CRO with recommendation for resolution.
o Implementation of Credit approved resolutions to non-compliant loans.
o Work closely with Chief Risk Officer to evaluate portfolio trends, identifying opportunities to improve asset performance or adjust strategies.
2. Construction Draws and Oversight:
▪ Review and approve construction draw requests from developers, ensuring that the requested amounts align with the progress of construction and meet the terms outlined in loan agreements.
▪ Coordinate with developers, general contractors, and engineers to verify that construction progress is on schedule and funds are being used effectively and efficiently.
▪ Monitor and manage draw schedules, ensuring that each disbursement is justified based on work completed and in compliance with the project’s budget and timelines.
▪ Ensure that necessary documentation, such as invoices, progress reports, and lien waivers, are submitted and reviewed for accuracy before approval of draws.
▪ Coordinate with third-party inspectors to assess construction progress, verify the accuracy of reported work, and confirm that the project is proceeding according to the development plan.
▪ Collaborate with the development team to identify potential delays, cost overruns, or risks, and work proactively to address these challenges, keeping all stakeholders informed.
o Prepare recommendations for funding for CRO’s approval and ensure funding within required timeframe.
o Interface with institutional banks for draw submissions.
o Prepare detailed reports on loan portfolio performance, summarizing key trends, challenges, on a weekly basis for review with CRO.
3. Risk Management & Compliance:
o Conduct ongoing risk assessments of the loan portfolio, focusing on credit quality, payment history, and borrower financial stability.
o Assist in the identification and resolution of potential defaults or distressed assets, implementing strategies approved by CRO and Credit Committee.
o Assist with quarterly and annual portfolio valuations, working closely with Chief Risk Officer to assess asset performance.
o Assist in loan workout and restructuring efforts for distressed loans, including the development of strategies to maximize recovery and minimize loss.
4. Reporting & Communication:
o Oversee the daily administration and management of the portfolio of performing and non-performing loans, including tracking loan performance.
o Manage borrower communication, addressing inquiries, and ensuring compliance.
o Prepare and present regular portfolio updates, asset performance reviews, and servicing reports to CRO.
o Maintain strong relationships with borrowers, and third-party service providers, ensuring open communication channels and timely problem resolution.
Qualifications:
• Bachelor’s degree in Finance, Business, Real Estate, or related field.
• 10-15 years of experience in asset management, loan servicing, or a related financial services role, with a focus on real estate or commercial lending.
• Strong understanding of real estate finance, loan servicing best practices, and portfolio management.
• Experience with managing loans through their lifecycle, from origination to servicing and resolution.
• Proficiency in financial analysis, including the ability to assess and interpret financial statements, loan agreements, and other relevant documents.
• Well versed in reading and interpretation of legal documents.
• Familiarity with loan performance metrics such as LTV, DSCR, and portfolio concentration.
• Strong attention to detail, organizational skills, and ability to manage multiple projects simultaneously.
• Excellent communication and interpersonal skills, with the ability to work effectively with internal teams and external partners.
• Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint). Knowledge of loan servicing or asset management software is a plus.
Preferred Skills:
• Experience with distressed asset management or non-performing loan portfolios.
• Knowledge of loan modification, forbearance, and workout strategies for distressed loans.
• Certification such as CFA, CAIA, or ARM is a plus.
• Experience with legal documentation, loan default processes, and foreclosure procedures.
Why Forman Capital?
At Forman Capital, we offer a dynamic and collaborative work environment where employees are empowered to grow and make meaningful contributions. As an Asset Manager / Loan Servicer, you will play a critical role in managing a diversified loan portfolio and driving portfolio performance. If you are looking to take the next step in your career with a forward-thinking, growth-oriented company, we encourage you to apply today.
Forman Capital is an Equal Opportunity Employer.
We celebrate diversity and are committed to creating an inclusive environment for all employees.
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