Senior Credit Resolution Specialist - Wells Fargo
CHARLOTTE, NC
About the Job
Wells Fargo is seeking a Senior Credit Resolution Specialist to join the CMS Special Servicing Team within CIB.
About this role:
The Senior Credit Resolution Specialist within the CMS Special Servicing team has the responsibility to organize, analyze and update asset and market level data for a variety of real estate transactions in the Wells Fargo CMS - Special Servicing named portfolio (performing and non-performing mortgage loans and real estate owned) which may include fixed or floating rate agency, Commercial Mortgage Backed Securities (CMBS) and balance sheet deals.
In this role, you will:
+ Track deal flow and maintain integrity of database of “active” and “watchlist” assets
+ Ensure that assets are properly recorded and reported on the servicing system
+ Process new deals for initial setup in database and complex spreadsheets
+ Perform market research due diligence on underlying collateral
+ Review and approve of annual operating budgets of loan level property operating statement financial analysis
+ Analyze rent rolls and determine future lease rollover
+ Perform loan level compliance reviews
+ Review and interpret third party reports
+ Review detailed credit reports and obtain explanations of any major derogatory items
+ Prepare Asset Status Reports
+ Evaluate the impact of servicing advance recoveries to the Trust
+ Communicate progress and immediately elevate any road blocks to the Asset Manager
+ Coordinate roll-up and delivery of monthly and quarterly report packages
Required Qualifications:
+ 4+ years of Credit Resolution experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
+ Basic knowledge and understanding of credit policy, accounting practices, and procedures
+ Basic knowledge and understanding of lending, loan structuring, and financial analysis
+ Knowledge and understanding of problem loan resolution and workout situations
+ 4+ years of experience in commercial real estate: asset management, finance, underwriting, origination, and/or servicing
+ Experience in reviewing and analyzing complex loan documents, intercreditor documents and deal documents
+ Strong credit and risk management exposure
+ Ability to think strategically and critically evaluate stakeholder value
+ Knowledge of CMBS, Pooling and Servicing Agreements, Inter-creditor Agreements, Participation Agreements, and all commercial loan documentation
+ Strong negotiation and influence skills
+ Commercial loan restructuring and negotiation experience
+ Excellent verbal, written, and interpersonal communication skills
+ Advanced Microsoft Excel skills
+ Wells Fargo has recently entered into an agreement to sell the third-party servicing function of Commercial Mortgage Servicing (CMS) to Trimont Global LLC (Trimont). The sale is expected to close in early 2025 (the “Closing Date”). We are continuing to recruit for open positions supporting CMS but want to ensure you are aware that should you be selected for and accept this position, you will also receive an offer from Trimont prior to the Closing Date with similar employment terms and conditions following your Wells Fargo start date.
Posting End Date:
7 Nov 2024
_*Job posting may come down early due to volume of applicants._
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo (https://www.wellsfargojobs.com/en/diversity/disability-inclusion/) .
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy (https://www.wellsfargojobs.com/en/wells-fargo-drug-and-alcohol-policy) to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.
Req Number: R-413420
About this role:
The Senior Credit Resolution Specialist within the CMS Special Servicing team has the responsibility to organize, analyze and update asset and market level data for a variety of real estate transactions in the Wells Fargo CMS - Special Servicing named portfolio (performing and non-performing mortgage loans and real estate owned) which may include fixed or floating rate agency, Commercial Mortgage Backed Securities (CMBS) and balance sheet deals.
In this role, you will:
+ Track deal flow and maintain integrity of database of “active” and “watchlist” assets
+ Ensure that assets are properly recorded and reported on the servicing system
+ Process new deals for initial setup in database and complex spreadsheets
+ Perform market research due diligence on underlying collateral
+ Review and approve of annual operating budgets of loan level property operating statement financial analysis
+ Analyze rent rolls and determine future lease rollover
+ Perform loan level compliance reviews
+ Review and interpret third party reports
+ Review detailed credit reports and obtain explanations of any major derogatory items
+ Prepare Asset Status Reports
+ Evaluate the impact of servicing advance recoveries to the Trust
+ Communicate progress and immediately elevate any road blocks to the Asset Manager
+ Coordinate roll-up and delivery of monthly and quarterly report packages
Required Qualifications:
+ 4+ years of Credit Resolution experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
+ Basic knowledge and understanding of credit policy, accounting practices, and procedures
+ Basic knowledge and understanding of lending, loan structuring, and financial analysis
+ Knowledge and understanding of problem loan resolution and workout situations
+ 4+ years of experience in commercial real estate: asset management, finance, underwriting, origination, and/or servicing
+ Experience in reviewing and analyzing complex loan documents, intercreditor documents and deal documents
+ Strong credit and risk management exposure
+ Ability to think strategically and critically evaluate stakeholder value
+ Knowledge of CMBS, Pooling and Servicing Agreements, Inter-creditor Agreements, Participation Agreements, and all commercial loan documentation
+ Strong negotiation and influence skills
+ Commercial loan restructuring and negotiation experience
+ Excellent verbal, written, and interpersonal communication skills
+ Advanced Microsoft Excel skills
+ Wells Fargo has recently entered into an agreement to sell the third-party servicing function of Commercial Mortgage Servicing (CMS) to Trimont Global LLC (Trimont). The sale is expected to close in early 2025 (the “Closing Date”). We are continuing to recruit for open positions supporting CMS but want to ensure you are aware that should you be selected for and accept this position, you will also receive an offer from Trimont prior to the Closing Date with similar employment terms and conditions following your Wells Fargo start date.
Posting End Date:
7 Nov 2024
_*Job posting may come down early due to volume of applicants._
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo (https://www.wellsfargojobs.com/en/diversity/disability-inclusion/) .
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy (https://www.wellsfargojobs.com/en/wells-fargo-drug-and-alcohol-policy) to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.
Req Number: R-413420
Source : Wells Fargo
