At Northwestern Mutual, we are strong, innovative and growing. We invest in our people. We care and make a positive difference.
At Northwestern Mutual, we believe relationships are built on trust. That our lives and our work matter. These beliefs launched our company over 160 years ago. Today, they're just a few of the reasons why people choose to build careers at Northwestern Mutual.
We're strong and growing. In a company with such a long and storied history, this may be the most exciting and important time to be a part of Northwestern Mutual. We're strong, innovative and growing.
We invest in our people. We provide opportunities for employees to grow themselves, their career and in turn, our business.
We care. We make a positive difference in our communities. Nationally, thousands have benefitted from our support of research and programs to fight childhood cancer. Each year, our Foundation, employees and financial representatives donate time, talent and financial support to causes they're passionate about.
What you will do:
Lead a team of asset managers and all ownership related activities on a portfolio of real estate equity investments. Advise the execution of strategies implemented to improve value and total return for each managed asset, new acquisition and development within assigned portfolio.
The incumbent is encouraged to contribute at a leadership level to portfolio strategy, talent management, and asset management. A successful candidate will demonstrate technical expertise in all areas of asset management, an interest/experience in active team leadership and talent management, and strong communication and presentation skills.
How you will do it:
Work with asset management portfolio manager to develop short and long term real estate equity strategies along with asset specific strategies, and then lead asset management team to implement those strategies. Conceptualize and collaborate with asset managers to implement value-add strategies, including expense reductions, revenue optimization, asset repositioning, loan refinancing and process improvements. Understand the physical, operations and financial aspects of assets within assigned portfolio. Keep informed of market and industry trends and bring forth new insights to optimize asset values. Engage, develop and maintain positive and collaborative relationships with all major supporting teams, including production, real estate services, controllers and the law department. Develop relationships with joint venture partners, management firms, brokers and other industry contacts. Foster the development of junior asset managers, build mentoring relationships, and conduct talent management activities (goal setting, performance feedback, development plans, compensation equity, etc.). Provide direction, supervision and mentorship to both junior and senior asset managers while continually promoting a high standard of excellence within the team.
Coordinate all asset management activities including revenue maximization, expense management and other asset management strategies and initiatives for assigned portfolio. Review operating goals across assigned portfolio and ensure strategic plans are implemented and followed. Participate in initial equity deal reviews and provide feedback on deal points and underwriting assumptions. Oversee asset manager contributions during the underwriting, due diligence and closing process for new equity investments. Act as a resource and provide mentorship to asset managers during new asset development. Lead or support conflict resolution efforts during the development process and during operations. Act as a resource and provide guidance to asset managers related to joint venture loan refinances. Make formal recommendations to portfolio manager and department head for key owner decisions supported by analysis. Periodically review the market and economic trends for each submarket and review trends that may affect assets in regards to long/short term reposition, disposition and exit strategy. Review hold/sell analyses and recommendations based on asset and market conditions. Lead all aspects of the asset disposition process beginning with broker selection through closing. Attend periodic site visits and management meetings to ensure methodical site inspections are conducted by team, comprehensive interview of property management and other key relationships are conducted, and identified issues are addressed.
Reporting & Compliance:
Provide portfolio manager a quarterly analysis of assigned portfolio performance as compared to benchmark. Provide final review and approval of annual budgets and quarterly financial forecasts and valuations. Review annual physical inspection reports and monthly asset management reports for assigned portfolio and report results to portfolio manager as vital. Ensure internal compliance with respect to reporting and valuations.
This job is not covered by the existing Collective Bargaining Agreement.
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We are an equal opportunity/affirmative action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender identity or expression, sexual orientation, national origin, disability, age or status as a protected veteran, or any other characteristic protected by law.
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Flexible work schedules
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