Compliance Associate or Vice President - Commercial Real Estate Asset Management
For more than 30 years, Situs has been a global leader in asset management, commercial real estate advisory and project consulting services. Since 1985 we have been involved with one trillion+ euros of Commercial Real Estate related transactions.
Our European team, based in London, Frankfurt, Copenhagen, Madrid and Dublin provides due diligence, loan surveillance, loan workout, underwriting and consulting services.
The successful candidate will be responsible for the compliance monitoring functions relating to Non-Performing Loans, Primary and Special Servicing (CMBS, balance sheet or syndicated), Agency Services, maintaining compliance oversight of the Credit Committee approval process, monitoring potential conflicts of interest within the organisation to ensure appropriate Chinese Walls are in place and being observed, and reporting to local regulatory authorities. This role is also responsible for monitoring that operational activities are performed in accordance with and adherence to policies and procedures, and under the guidance of the Legal Department, that activities are performed to ensure compliance with regulatory requirements (e.g. AML, KYC, etc.).
· Review and provide comments on default notices, servicing transfer event letters, property management agreements, RIS Notices and various other documents from a fact-checking and operational knowledge perspective (e.g. parties are correct, amounts have been verified, confirmation that underlying events in notices or letters have been verified – for example, that if a STE letter references a payment default that there has in fact been a payment default) and ultimately assuring that appropriate procedures are adhered to in respect of authorisation and execution.
· Oversee and assist in the loan/asset level reviews of compliance with Servicing Agreements, asset management, notification and documentation requirements.
· Oversee the Credit/Advisory Committee Review processes to ensure decisions are being made in adherence with our obligations under the transaction documentation (seeking internal or external legal advice on any points of interpretation). This aspect will entail, inter alia, 1) review/comment on all credit papers; and 2) participate in the respective Committee meetings.
· Ensure that any consent and consultation requirements contained in underlying servicing agreements, facility agreements and intercreditor agreements have been adhered to for certain actions in relation to administered loans, including that internal or external legal advice has been taken on any points of interpretation.
· Monitor potential conflicts of interest within the Division to ensure appropriate Chinese Walls are in place and being observed.
· With the assistance of the Legal Department, monitor operational activities to ensure company compliance with various regulatory requirements (e.g. AML, KYC, etc.).
· Ensure registrations (e.g. data protection) are up-to-date.
· Ensure filing and returns with regulatory authorities (notably, CBI) are completed in due time.
· Facilitate the transfer process of loans between primary and special servicing and ensuring Situs receives all documentation, and notifying internal parties. To be performed in consultation with Legal where required.
· Ensure appraisal reduction control valuation calculations and relevant documents and notifications are sent to the relevant parties by the respective departments.
· Assist the Operational Risk Department in the periodic review/audits of actively serviced loans/assets.
· Monitor the archiving and storage of original documents in connection with finance documents and servicing agreements, facility agreements and intercreditor agreements.
· Complete special projects and additional functions as necessary.
· Participate in the drafting and review of the appropriate Compliance Handbook and policies and procedures applicable to the activities of Situs in Ireland.
· Maintain complete, accurate and up to date template documents specific under servicing agreements for the availability of all associates.
· Prepare and attend Monthly reporting meetings with the Board of Directors.
· Serve as central repository for original documentation to be archived off-site, update Doc Tracker with all relevant documents and ensure executed documents are properly filed on our electronic network
It is essential for this role that the successful candidate can demonstrate the following:
· Strong leadership skills
· Excellent oral / written communication skills
· Strong analytical review skills.
· Ability to understand all commercial property loan documentation and complex financing structures
· Ability to make and deliver clear and measureable decisions
· Ability to work under pressure and to adhere to set deadlines
· Ability to work in a large, global, and highly-matrix environment
· Degree in a business, Finance or legal related discipline preferred
· Experience in a related role focusing on the commercial real estate market preferred
· Prior experience in compliance or audit preferred.
We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation or age.