First Republic Bank

Returning Candidate?

Real Estate Asset Manager

Real Estate Asset Manager

ID 
2017-5243
Job Locations 
US-CA-San Francisco
Category 
Wealth Management

More information about this job

Overview

First Republic is an ultra-high-touch bank that provides extraordinary client service. We believe that one-on-one interactions build lasting relationships. We move quickly to serve our clients’ needs so that their financial transactions are handled with ease and efficiency. Client trust and security are paramount in our line of business. Ultimately, our goal is unsurpassed client satisfaction which will lead to personal referrals – our number one source of new business.

 

Real Estate Asset Manager has overall responsibility for the fiduciary real estate assets at FRTC. The position performs the administration of real estate and other assets, directly owned by a trust account and monitors the performance of these assets. The Asset Manager performs annual reviews on all assets, as well as creates and reviews the annual Investment Policy Statement (IPS) for each new account and relationship. In addition, the Manager ensures compliance with all applicable FRTC Policies and Procedures.

Responsibilities

  • Perform management of portfolios and individual holdings focused on investment quality real estate and unique assets held for capital growth, preservation and diversification. Manage risk of portfolios. Some travel necessary.
  • Comply with policies and procedures for real estate and unique asset management, as well as with governing FDIC regulations (Regulation 9).
  • Oversight of multiple property management firms, and coordinate lease, sale and acquisition transactions.
  • Supervise third party Property Managers for real estate portfolios. Understand financials, 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 assets such as timber holdings or agriculture.
  • 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.
  • Complete initial and annual unique asset portion of investment reviews, create and update the unique asset portion of the IPS for each account in conformance with the trust document and investment portfolio and provide fiduciary investment oversight.
  • Develop working knowledge of the SunGard trust accounting system, as well as the PDS (Petro Data Systems) and related tools to supervise unique asset management.
  • 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.
  • 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. 

Qualifications

Skills, Knowledge and Abilities:

  • Education: Four Year College Degree Preferred
  • CPM Designation Preferred 
  • Team player
  • Provides extraordinary service 
  • Furthers the First Republic Bank culture and values
  • 5-7 years of real estate property management experience and other assets such as oil and gas, limited liability companies. Prefer experience in advising trustees acting in a fiduciary capacity
  • Knowledge of OCC or FDIC compliance and fiduciary guidelines
  • Successful oversight of commercial office buildings, retail shopping centers, and multi-family properties and other 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 real estate and unique asset portfolio
  • Strong writing and communications skills and experience in preparing investment policy statements as they pertain to unique assets

Physical Requirements:

  • Vision must be sufficient to read data reports, manuals and computer screens
  • Hearing must be sufficient to understand a conversation at a normal volume, including telephone calls and in person
  • Speech must be coherent to clearly convey or exchange information, including the giving and receiving of assignments and/or directions
  • Position involves sitting most of the time, but may involve walking or standing for brief periods of time
  • Must be able to travel in a limited capacity

Options

Share on your newsfeed