The Vice President of Reserves is responsible to train staff, handle escalations and questions from within and outside of the department, approve reserve requests, assist with Letter of Credit monitoring, review Serving Agreements, and provide feedback to Reserve Analysts. In addition, may be responsible for preparing investor reserve reports and the day-to-day workload such as analyzing loan documents for complex reserve requests in a timely and accurate manner.
What it takes to be successful in his role
Bachelor's degree or equivalent
Five to seven years prior experience in a similar position
Working knowledge of Commercial Real Estate Servicing Agreements and Legal Documents
Proficiency in Microsoft Office Suite including Outlook, Word and Excel, and ability to work with other software including mortgage industry specific applications such as McCracken Strategy, intranet-based workflows, etc.
Strong organizational skills and ability to multitask in a fast-paced environment with competing priorities.
Adhere to Berkadia's policies and exhibit proficiency and understanding of Berkadia's Values and position-specific skills.
Excellence in communication skills, including the ability to communicate clearly and succinctly both verbally and in writing with all levels of an organization both internal and external.
Outstanding attention to detail.
A can-do, proactive attitude and ability to work autonomously with confidence while escalating issues when appropriate, as well as with team members on shared responsibilities. Able to quickly establish productive rapport with clients, staff, and management at all levels
Perform and approve processing tasks associated with the disbursing & monitoring of Reserve Escrows
Review PSA and other legal documents to ensure adherence to reserve related requirements
Handle elevated requests, work with borrowers to rectify issues, and problem-solve
Assist with Letter of Credit monitoring
Review and analyze HUD, Freddie Mac, FNMA, and CMBS, Non-Critical, Replacement, Green Improvements, Debt Service, IOD, Working Capital, Change Orders, and Future Findings reserve requests for compliance and submission
Collaborate with borrowers and the Client Relations team to obtain additional documentation
Create and execute ad-hoc reports for clients and management
Identify and assess software for system enhancements and automation of workflow tasks & reporting, creating process improvements
Carry out, lead, and provide guidance for special projects
Assist with contract pricing negotiations and contract renewals
Provide invoicing oversight and make decisions regarding monetary variances, discrepancies, and disputes
Coordinate audits for reserves and letter of credits
Lead and attend regularly scheduled meetings with internal and outside parties
Involved with recruitment, interviewing, selection, and training in conjunction with the Senior Vice President
Develop and maintain training materials and departmental policies and procedures. Ensure these processes are thoroughly documented, updated, and adhered to by staff.
Conduct oneself in accordance with the Berkadia Way principles, always demonstrate high integrity
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Powered by deep relationships and industry-changing technology, our people sell, finance, and service commercial real estate, providing support for the entire life cycle of our clients' assets. Our unique ownership structure allows us to put the client's interests first and creates a marketplace that delivers a superior experience.
Applicants who require accommodations to participate in the interview process should contact the Talent Acquisition Team to arrange for such accommodations by emailing: Talent.Acquisition@Berkadia.com
Berkadia does not share salary ranges in its job postings. Any salary-related information you see posted externally has not been provided or verified by Berkadia and may not be accurate.
Berkadia is an equal opportunity employer and affords equal opportunity to all applicants and employees for all positions without regard to race, color, religion, gender, national origin, age, disability, veteran status or any other status protected under local, state or federal laws.
Berkadia is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Powered by deep relationships and industry-changing technology, our people sell, finance, and service commercial real estate, providing support for the entire life cycle of our clients’ assets. Our unique ownership structure allows us to put our clients’ interests first and create a marketplace that delivers a superior experience.