Senior Associate, Investment Operations & Asset Management

Job description

Who You’ll Work With: The Senior Associate, Investment Operations & Asset Management role is a great opportunity for a qualified candidate looking for a dynamic operations role focused on commercial real estate transaction. This role is part of the Operations organization and is focused on transaction execution, coordination, reporting, and asset management support rather than investment origination or investment decision making. The Senior Associate will partner closely with the front office commercial team and support the full lifecycle of commercial real estate transactions plus will have responsibility for coordinating asset management of the team’s investments. They will be exposed to all features of AB CarVal’s commercial real estate business, will be responsible for several aspects of new and existing transactions, and will work closely with a wide variety of parties both within AB CarVal and externally. This role reports into the Head of U.S. Operations. The role will be located in New York, NY or Minneapolis, MN. What You’ll Do: Asset Management - (50%) Coordinate and support the management of third-party commercial real estate relationships Coordinate and project manage workstreams on the commercial real estate projects with third party asset managers, supporting execution of approved asset business plans’ Track and report asset performance against underwriting and business plan metrics Liaise with property managers, brokers, and service providers to ensure operational efficiency Coordinate documentation, tracking, and execution support related to loan modifications and borrower communications. Ensure timely communication and coordination with the commercial team decision makers regarding project execution and operational matters Support implementation and tracking of approved asset-level strategies Ensure proper portfolio reporting/review and communication with key internal and external stakeholders connected to the projects Act as the primary source of information internally for investment transaction performance and asset-related updates Prepare regular asset performance reports, including variance analysis Monitor borrower compliance with loan documentation and business plans and further investigate any issues that may arise Escalate issues and coordinate resolution across stakeholders, proactively focusing on the most material/financially impactful areas and ensuring quick response to any ad hoc issues Support the commercial real estate commercial team to ensure they have the information required to maintain accurate detailed financial models (incl. monthly valuations) for the projects Coordinate operational workstreams related to new warehouse facilities and loan onboarding Serve as an operational coordination contact for financing counterparties Prepare and maintain investment memorandums, reports, and presentations for internal committees Manage legal, finance, and tax related tasks associated with each investment transaction or the commercial real estate strategy Operational Management - (25%) Provide day-to-day operational input on commercial real estate investment transactions Support operational due diligence, transaction coordination, and information gathering related to acquisitions. Coordinate closing processes with legal, finance, and external stakeholders Engage with and interpret detailed commercial real estate investment transaction legal documents Track and reconcile investment-level cash flows, budgets, and funding requirements. Quickly evaluate complex situations that arise and use good judgement to propose solutions Effectively manage be-spoke complex financing agreements Set up new deal structures and manage existing deal structures with various AB CarVal departments as well as external stakeholders Complete due diligence and audit requests by working with appropriate partners Coordinate, manage and maintain accuracy all aspects of tracking commercial real estate transactions in AB CarVal’s systems Respond to internal and external queries regarding commercial real estate investment transactions throughout their life cycle Business Partnering - (25%) Collaborate with the AB CarVal commercial real estate commercial team and external commercial real estate transaction partners Provide input on commercial real estate investment transaction documentation alongside AB CarVal commercial real estate commercial team Coordinate with partners regarding appropriate investment memorandums, performance reporting, business & legal practices, and accounting procedures for each investment transaction Make judgement-based decisions related to the operations function and assume responsibility for the impact to the business Understand key areas of the commercial real estate investment transactions/business and anticipate potential issues; proactively communicate solutions to others within the team or management Assist with project by project review/analysis/milestones within commercial real estate investment transactions What We’re Looking For: Required: Bachelor's degree in accounting, business, finance, or related industry 5+ years finance experience Demonstrated experience in and/or exposure to commercial real estate asset management/portfolio operations preferably including underwriting, credit evaluation, and third party relationship management Advanced Excel skills including data modelling and analysis Strong communicator who can coordinate and support collaboration across technical, legal, construction, and financial teams Demonstrated ability to work cross-functionally with various teams and portfolio companies Demonstrates knowledge and mechanics of lending instruments, legal documents and structures Strong work ethic and commitment to a high standard of excellence Proven ability to balance multiple assignments and manage quality, accuracy, and consistency of each work product A self-starter with the ability to follow through and complete tasks High level verbal and written communication skills Strong drive for results with both detailed and practical focus Strong analytical/problem solving skills Enjoys working in a collaborative team environment, partnering with commercial team Ability to travel, including for site visits and portfolio company meetings as needed Preferred: Experience with commercial real estate investments, transactions, asset management terms and concepts Experience working in an alternative investment fund manager or similar industry Public accounting or financial services experience Demonstrated initiative in communicating issues and concepts to multiple groups at multiple levels Knowledge and/or experience with conducting audits and due diligence of external companies Who We Are: AB CarVal is an established global alternative investment manager and part of AllianceBernstein’s Private Alternatives business. Since 1987, AB CarVal’s team has navigated through ever-changing credit market cycles, investing $160 billion in 5,885 transactions across 82 countries. Today, AB CarVal has approximately $21 billion in assets under management. The firm has a 39-year history, strong track record and an established reputation in asset-based finance with a team of approximately 75 investment professionals in the US, Europe and Asia. A key differentiator is the firm’s robust global network of established relationships with operating platforms and partners. AB CarVal Investors is established in managing opportunistic global real estate investments in both commercial and residential real estate transactions, as well as real estate-related public debt. AB CarVal’s flexible mandate has enabled it to be a provider of capital on transitional assets, construction, and value-add transactions across property types. The commercial real estate debt team is responsible for a portfolio of approximately $2 billion of assets under management. The debt strategy is primarily focused on bridge/construction lending and trading SASB CMBS bonds. With each investment opportunity, AB CarVal applies an in-depth, bottom-up underwriting process focused on underlying business plans and market fundamentals. We realize that it's our people who give us a competitive advantage and drive success in the market, and our goal is to create an inclusive culture that rewards hard work. In accordance with applicable law, the minimum and maximum base annual salary for this role is as follows: Base Salary Range: $130,000 to $160,000 Actual base salaries may vary based on factors including but not limited to education, training, experience, past performance, and other job-related factors. Base salary is just one component of total compensation at AB CarVal, which may include, depending on eligibility, commissions, year-end incentive compensation, short- and long-term incentives and Department-specific awards. In addition AB provides a variety of benefits to eligible employees, including health insurance coverage, an employee wellness program, life and disability insurance, a retirement savings plan, paid holidays, sick and vacation time off All are encouraged to apply. AB does not discriminate against any employee or applicant for employment on the basis of race, color, religion, creed, ancestry, national origin, sex, age, disability, marital status, citizenship status, sexual orientation, gender identity, military or veteran status or any other basis that is prohibited by applicable law. AB’s policies and practices seek to ensure that employment opportunities are available to all employees and applicants based solely on job-related criteria. New York, New YorkMinneapolis, Minnesota