Associate Director, Real Estate & Unique Assets Officer - Hybrid

ID
2022-15166
Job Locations
US-CA-San Francisco
Category
Management

 

At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here. 

 

Incredible teams doing exceptional work, every day

First Republic Private Wealth Management is comprised of investment management, brokerage, trust, financial planning and insurance professionals within First Republic Investment Management (FRIM), First Republic Securities Company (FRSC),  First Republic Trust Company (FRTC), and Foreign Exchange. We offer customized wealth management solutions for our clients from a wide array of services including comprehensive investment management, financial planning, estate planning, trust services, endowment management and more. Our goal is to understand our clients’ unique needs and support them throughout a lifetime of financial goals.

 

What you’ll do as a Associate Director, Real Estate & Unique Assets Officer: 

  • Supervise management of portfolios and individual holdings focused on investment quality unique assets held for capital growth, preservation and diversification. Oversee risk management of portfolios. Some travel necessary when conditions are safe to do so.
  • Ensure policies and procedures for real estate and unique asset management are complied with and consistent with governing FDIC regulations (Regulation 9).
  • Oversight of third-party vendors including management firms, brokers, attorneys, lenders, tenants, co-owners, appraisers, and construction vendors.
  • Understand financials for unique assets, determine risks and opportunities for assets within the overall goals of the account and provide guidance to achieve those goals.
  • Strategically select and manage/partner with outside entities to oversee unique assets such as real estate, timber, farm, and oil and gas holdings.
  • Real Estate – Experience with all property types, including negotiating Tenant Leases, Purchase and Sale Agreements, Loan Documents, and Vendor Contracts.  Familiarity with real estate cash flow statements, budgets, cap rates, and real estate valuation methodologies.
  • LLCs - Evaluate agreements, the purpose of the business structure and related financial transactions and the risks/responsibilities/rights of the trust in relationship to the overall trust portfolio. Monitor the financials of the entity to understand what is happening within the company. Contact the company to obtain needed information.
  • Mineral, Oil, Gas Rights - Supervise selected outside entity to manage any MOG interests. Understand contracts and sales and purchase offers, valuation and ownership documentation issues.
  • Oversee initial and annual asset reviews, create and update the unique asset section of the IPS for each account in conformance with the trust document and investment portfolio and provide fiduciary investment oversight.
  • Develop working knowledge of Petrodata System (PDS) and SunGard trust accounting systems and tools to supervise unique asset management.
  • Perform duties & responsibilities specific to department functions & activities or as assigned by supervisor.
  • Participate in the development of department policies and/or procedures and assist with client specific projects as assigned.
  • Responsibilities include the following:  1) adhering to and complying with the applicable, federal and state laws, regulations and guidance, including those related to Anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.) 2) adhering to Bank policies and procedures, 3) completing required training, 4) identifying and reporting suspicious activity to the AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank. 

DISCLAIMER
Critical features of this job are described under the items above. They may be subject to change at any time due to reasonable accommodation or other reasons. This job description reflects management’s assignment of essential functions; it does not prescribe or restrict the tasks that may be assigned. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.

 

You could be a great fit if you have:

  • Bachelor’s degree required
  • 5+ years of experience working directly with private business entity structures and documents including limited liability companies and/or other assets such as oil and gas.
  • Experience in advising trustees acting in a fiduciary capacity is preferred.
  • Knowledge of OCC or FDIC compliance and fiduciary guidelines
  • Successful oversight of unique assets in fiduciary accounts.
  • Understanding of appropriate valuation methodology for unique assets, and expertise in proper unique asset set up on trust accounting system.
  • Experience with sale and lease transactions associated with a unique asset portfolio
  • Petrodata System (PDS) and/or SunGard accounting system experience is preferred
  • Sense of urgency, attention to detail, highly organized and strong project management skills
  • Strong work ethic, self-starter and results oriented
  • Able to work well individually and in a team
  • Proven problem-solving skills, able to troubleshoot and address issues independently
  • Strong PC skills in Microsoft Word, Excel, PowerPoint
  • Ability to multi-task is essential
  • Must have excellent communication skills and strong attention to detail
  • Team player
  • Provides extraordinary service
  • Furthers the First Republic Bank culture and values

Job Demands:

  • Must be able to review and analyze data reports and manuals; must be computer proficient.
  • Must be able to communicate effectively via telephone and in person.
  • Must be able to travel as position requires. 

Own your work and your career — apply now

Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career?  If so, then come join us.

 

We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability — that’s the First Republic way.

We believe that a diverse range of backgrounds and ideas has and will continue to be fundamental to the future success of First Republic.

 

If you are curious to learn more about this opportunity, we'd love to hear from you.

 

This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship.

 

First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.

 

For New York City-based roles: Mayor Bill de Blasio announced that, effective December 27, 2021, all private sector employers?in New York City will be required to ensure that their employees are vaccinated against COVID-19 to attend work in the office. Reasonable Medical or Religious Accommodations may be requested if applicable to you. Please view New York’s Guidance on Accommodations for Workers for more information.

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