Manager – Real Estate Portfolio Servicing
| Company | Royal Bank of Canada |
|---|---|
| Location | Toronto, ON, Canada |
| Salary | $Not Provided – $Not Provided |
| Type | Full-Time |
| Degrees | Bachelor’s |
| Experience Level | Junior, Mid Level |
Requirements
- University degree in business, commerce, finance, real estate, accounting or related fields
- Ability to learn quickly in a fast-paced environment
- Sound understanding of financial statements and real estate analysis
- Minimum 1 years’ experience in Commercial Mortgage Underwriting
- Highly proficient in Microsoft applications (Excel, Word, Power Point)
- Well organized, result-oriented and excellent time management skills
- A focus on detail, client-oriented, proactive and ability to multi-task
- Exceptional communication, collaboration and writing skills
- Team player and willingness to do some travel across Canada
- Ability to work a hybrid work arrangement (3 days in office)
Responsibilities
- Collaborate with Relationship Managers, Business Markets and Borrowers to collect financial packages and other annual review information
- Complete the Operating Statement Analysis Reports (“OSARS” annual reviews) for the securitized commercial mortgages portfolio and submit with the client’s financial information to the Master Servicers in accordance with the requirements of the Servicing Agreements
- Track, monitor and follow up on borrower undertakings for securitized and third party investor mortgages
- Perform, complete and submit property inspection reports to the Master Servicer by the due dates specified in the Servicing Agreements. Request and follow up on correction strategies for items of significant property deferred maintenance
- Request and verify property tax accounts, PPSA files and property insurance policies
- Research and complete formal business cases in support of Borrower special requests to modify loan documents (i.e. subordinate debt financing, loan assumptions, building expansions, expropriations, partial discharges of security, changes in ownership structures, amalgamations, holdback and reserve releases, etc.)
- Renew, refinance, underwrite and price CMBS commercial mortgages that have reached maturity and submit loan renewal/refinance proposals to Group Risk Management
- Prepare and verify monthly loan remittance reports and coordinate the distribution and wiring of mortgage P&I payments to the Master Servicers, co-lenders and third party investors
- Control systems and loan transaction administration for mortgage set up, investor coding, loan reserves and loan payouts
Preferred Qualifications
- Knowledge of the Bank’s operating systems: OLMS, Synergy, DDA, CMS, CART, RFT wire transfer, Newton and PeopleSoft (Oracle)
- Experience in real estate lending practices and real estate cash flow analysis
- Over 3 years’ experience in Commercial mortgage underwriting
- Experience in Commercial Mortgage Backed Securities (CMBS) and the servicing of securitized commercial mortgage and third party investor portfolios