WHAT IS AN ASSET MANAGER ?

Reviewed by Lam Nguyen under Editorial Standards

The Asset Manager will be responsible for overseeing a designated portfolio of accounts to monitor their performance, aiming to identify trends, detect higher-risk loans, and collaborate with clients in the event of defaults. Loan surveillance involves conducting regular analyses of financial statements and rent rolls, ensuring compliance with loan terms and government agency loan program guidelines, assessing the physical condition of properties, and working closely with clients to address any financial and operational challenges to prevent or resolve defaults. Duties encompass a combination of in-office reviews, communication with property owners, operators, or managers, on-site property inspections, and engagement with senior-level management and credit committee members at OREC. This role demands proficiency in financial statement analysis, strong Excel skills, meticulous attention to detail, a keen interest in problem-solving, and the ability to interact effectively with personnel at all levels within our company and with clients.

Need-to-Know Overview of an Asset Manager

1. Asset Manager Roles and Responsibilities

  • Assumes ownership of asset management and client relationship responsibilities of an assigned loan portfolio.
  • Maintains an understanding of all OREC and government agency policies, standards, specifications and guidelines.
  • Carries out in-depth financial statement analysis of borrower and operator financial statements.
  • Analyzes loan documents to understand reporting requirements, loan covenants and remedies.
  • Handles late payment, payoff and maturity date issues.
  • Recommends loan risk rating changes and provides thorough analysis to senior management to support the recommendations.
  • Prepares monthly, quarterly, and annual reports in accordance with government agency and internal program guidelines.
  • Works with legal counsel in drafting necessary business communication to borrowers in violation of loan covenants and remedies, and revising loan documents when appropriate.
  • Coordinates and/or conducts periodic site inspections of mortgaged properties and works with borrowers to address deferred maintenance items.
  • Evaluates service and care surveys and works with borrowers to correct deficiencies.
  • Reviews and approves disbursements from replacement reserves, completion repair, tax and insurances and other escrow reserves.
  • Oversees post-closing transactions such as ownership, operator, and management agent changes, new advances, and partial pay downs, and releases of collateral, guarantors, etc.
  • Reviews the work of Portfolio Associates and Portfolio Analysts.

2. Asset Manager Skills, Abilities and Experience

  • Experience with commercial real estate loans, financial analysis and client contact.
  • Prior experience with Affordable Housing, Seniors Housing, FHA, Fannie Mae, Freddie Mac, USDA and loan participations a plus.
  • Ability to analyze financial statements, identify trends and causes, and make recommendations.
  • Strong written and verbal communication skills needed for reporting to management, credit committee, government agencies, investors and customers.
  • Willingness to travel to property locations.
  • An excellent customer service attitude
  • Proficiency in Microsoft Office and list other relevant systems or software
  • Excellent organizational, communication, presentation, and interpersonal skills
  • Ability to plan, organize, and prioritize assignments, and to meet critical and established deadlines; Ability to manage multiple assignments and transactions simultaneously
  • Demonstrated ability to maintain confidentiality and to use discretion in the performance of daily activities
  • Professional business image and excellent command of the English language, both verbally and in writing (spelling, grammar, and punctuation)
  • Ability to learn quickly and demonstrated ability to work independently and as part of a high-performance team
  • Flexibility and ability to work under pressure with tight deadlines and constant interruptions; Ability to adjust priorities in a changing environment
  • Displays initiative and a strong sense of personal motivation as well as responsibility.
  • Strong interpersonal skills required to promote positive working relationships with diverse personalities/roles at all levels of company and clients.

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Editorial Process

Lamwork content is developed through structured review of publicly available job postings and documented hiring trends.

Editorial operations are managed by Thanh Huyen, Managing Editor, with research direction and final oversight by Lam Nguyen, Founder & Editorial Lead. Content is periodically reviewed to reflect observable labor market changes.