Portfolio Manager-Commercial Mortgages

Description :

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Job Description

The investment objective of Allstate’s $4.5 billion Commercial Mortgage portfolio is to provide stable, attractive returns and diversification relative to liquid, fixed income asset classes. The portfolio consists of first lien mortgages secured by high quality, income-producing commercial and multifamily properties in the top 30-40 metropolitan areas within the U.S. We lend to best in class borrower sponsors, many with whom we’ve held long-standing and multiple-transaction relationships. We source this business through an established correspondent network of mortgage banking firms, to whom we grant an exclusive right to represent Allstate in their respective markets.

We are seeking a Portfolio Manager to join the Commercial Mortgage Group. This individual will lead a new bridge loan initiative to be implemented internally within the group. The bridge loan program will target middle market, $10 million to $50 million opportunities with borrower sponsors, property types and geographic locations similar in quality to our traditional commercial mortgage program. We seek to originate approximately $200 million of bridge loans annually, with a sustained portfolio build targeted at $500 million.

The candidate will possess strong personnel management and training skills and will be adept at organizing and presenting information, communicating data and research and summarizing investment recommendations to senior management. The position is based in Allstate’s corporate headquarters in Northbrook, IL and will require travel.

Responsibilities will include:

  • Design the bridge loan program and build the processes and capabilities necessary for its successful implementation.
  • Provide ongoing training and oversight of front office, loan servicing/administration and legal staff on work associated with this program.
  • Manage the flow of bridge loan business via our correspondent mortgage banking network.
  • Oversee the loan servicing staff assigned to the post-closing loan administration associated with this program.
  • Along with oversight of the bridge loan initiative, originate both bridge loans and traditional commercial mortgage loans in an assigned geographic territory.
  • Manage a portfolio of existing mortgage loan investments within that territory, including early identification of potential problem assets and proactive management of loan maturities.
  • Develop and maintain a thorough knowledge of assigned real estate markets, including historic, current and projected market conditions, trends and statistics.
  • Provide managerial oversight and career development of a front office origination and loan administration team.
  • Participate and contribute to weekly deal meetings to discuss transaction pipeline and current market conditions.
  • Travel will be required.
  • Other duties as assigned.

Job Qualifications

The person selected for this role will possess the following qualifications:

  • In-depth knowledge of the bridge loan market, including top competitors, industry trends, key contacts and relationships, etc.
  • Proven ability to assess and underwrite an array of complex bridge loan and traditional commercial mortgage transactions.
  • A detail-oriented focus, with a commitment to producing high quality work on a timely basis.
  • Excellent analytical skills, with an emphasis on the ability to communicate observations into supportable conclusions and recommendations.
  • The ability to think independently, provide directions to team members and oversee work product that presents a view point in a thoughtful and professional manner.
  • Excellent verbal and written communication skills and the ability to interact effectively and professionally with a wide variety of internal and external constituents.

Desired Experience

  • 7+ years of experience in commercial real estate finance, with specific, in-depth bridge loan experience
  • Loan workout experience strongly desired
  • Experience in asset management a plus

Education:

  • Bachelor’s Degree
  • MBA and/or CFA desirable

The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.

Good Work. Good Life. Good Hands®.

As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life — including a generous paid time off policy.

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Allstate generally does not sponsor individuals for employment-based visas for this position.

Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.

For jobs in San Francisco, please see the notice regarding the San Francisco Fair Chance Ordinance.

It is the policy of Allstate to employ the best qualified individuals available for all jobs without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity/gender expression, disability, and citizenship status as a veteran with a disability or veteran of the Vietnam Era.


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