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DWS: Head of Real Estate Debt Asset Management


About the job

About DWS

Position Overview

DWS Group (DWS) is one of the world's leading asset managers with EUR 902bn of assets under management (as of 31 March 2022). Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our investment approach strategically.

DWS wants to innovate and shape the future of investing: with approximately 3,500 employees in offices all over the world, we are local while being one global team. We are investors – entrusted to build the best foundation for our clients’ future.

About The Real Estate Debt Investments Team

In this role you will lead the Asset Management function for the DWS Commercial Real Estate Debt Investments Group, which invests in structured real estate investments in US commercial real estate on behalf of third-party fiduciary clients and funds. The role fits within a 6-person dedicated team and is supported by resources of the broader DWS America’s Real Estate Platform of 125 employees. Current Assets Under Management of the debt team is nearly $2.0 billion across investments in mezzanine loans, mortgage loans, preferred equity and securities.

Your Key Responsibilities

  • Primary point of contact for the day-to-day oversight of the team’s underlying debt investments

  • Monitor performance vs budget and original internal underwritten projections. Create and modify ongoing financial, cash flow forecasting, and valuation models in Excel and Argus. Periodic value and analysis of underlying properties to determine increases and decreases in property value

  • Primarily responsible for watchlist oversight with focus on early detection of loan issues with an eye towards resolution before the matter escalates

  • Ensure compliance with all investment terms, conditions, tests, thresholds and documentation/report submission to ensure compliance with underlying loan documents

  • Review and analysis of day-to-day approval requests such as major leases, draws, escrows, etc. within the specified time frame in the underlying loan agreement for approval

  • With servicer, ensure property and liability insurance coverage, tax payments, UCC and title coverage per the required amounts and coverage as specified in the loan documents

  • In collaboration with Portfolio Management team(s), preparation and oversight of quarterly investor reports which includes the loan performance and any material updates to the underlying transaction

  • Manage loan due diligence which includes the analysis of materials including property, sponsor and guarantor, review and analysis of third-party reports, leases, purchase and sale agreements, major contracts, etc.

  • Analyze sponsor organizational structures and documents and conduct KYC/AML functions as well as credit analysis and reports.

  • Maintain closing and due diligence checklists for all closings. Review and approval of all loan closing legal documentation

  • Work with servicer to approve and monitor invoicing, receipt and analysis of monthly principal and interest remittances, required reporting items re: property, operations, market and sponsor, based on the underlying loan documents.

  • Structure all loan modifications, or workouts. Modify, extend, renew and/or workout loans as applicable, with the approval the Investment Committee, as applicable

  • Maintain Debt Policy Manual and liaison to various internal departments including legal, compliance, governance, engineering, risk management, research and strategy, Office of the Corporate Secretary, Head of Asset Management and Portfolio management and others

  • Represent the Department in all internal and external exams and audits

Your Skills & Experience

  • Strong leadership and management skills; proactive results oriented

  • Minimum of 15 years of CRE AM and related experience

  • Strong skill set in legal, underwriting, analysis, credit/KYC/AML, underwriting, valuation and monitoring of CRE loans and investments

  • Bank or similar credit training

  • Strong Excel and Argus skills

  • Exceptional written, presentation and verbal communication as well as organizational skills in order to interact effectively with borrowers, investors, the investment committee, servicers, attorneys, the most senior members of the firm, etc.

  • Understanding of bank holding company regulations, governance and compliance. Understanding of fiduciary responsibility related to separately managed accounts, open end funds and closed end funds

  • MBA preferred

What We’ll Offer You

A healthy, engaged and well-supported workforce are better equipped to do their best work and, more importantly, enjoy their lives inside and outside the workplace. That’s why we are committed to providing an environment with your development and wellbeing at its center. You can expect:

  • Competitive Salary and Matched 401K Savings Plan

  • Generous Paid Time Away plus Bank Holidays

  • Health and Life Insurance Plans for you and your family

  • Work/Life Balance Programs including Adoption/Surrogacy/Infertility Assistance, Backup Care through Bright Horizons, Phase Back to Work and Support for New Mothers

  • A range of flexible benefits including Retail Discounts, Commuter Discounts and Gym benefits

  • The opportunity to support wide-ranging volunteer programs, + 1 day volunteering leave per year, matched personal donations to non-profit organizations dollar-for-dollar, up to $5,000

How We’ll Support You

  • Training and development to help you excel in your career

  • Flexible working to assist you balance your personal priorities

  • Coaching and support from experts in your team

Our values define the working environment we strive to create - diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teams to drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.

We promote good working relationships and encourage high standards of conduct and work performance. We welcome applications from talented people from all cultures, countries, races, genders, sexual orientations, disabilities, beliefs and generations and are committed to providing a working environment free from harassment, discrimination and retaliation.

Click here to find out more about diversity and inclusion.

We are an Equal Opportunity Employer - Veterans/Disabled and other protected categories. Click these links to view the following notices: "EEO is the Law poster" and supplement ; Employee Rights and Responsibilities under the Family and Medical Leave Act ; Employee Polygraph Protection Act and Pay Transparency Nondiscrimination Provision .

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