Asset Manager - Covenants

Overview

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The Covenant Asset Manager is responsible for ensuring timely collection, review, and analysis of borrower operating statements and performing DSCR, Net Worth and Liquidity covenant testing in accordance with the terms outlined in loan agreements. This role is critical to maintaining compliance with financial covenants for the Barings portfolio which consists of 502 loans totaling $25.2B. It also plays a key role in modeling and reporting on Quarterly Specific Loan Loss Reserves.

Location:

Dallas, TX.

• Operating Statement Collection & Review
  • Monitor quarterly and annual reports to identify received operating statements on covenant loans.
  • Review and approve financials for completeness and accuracy; follow up with analysts or asset managers to resolve unexplained variances.
• DSCR Covenant Testing (approx. 550 annually)
  • Perform DSCR calculations as defined in the loan agreement, including manual amortization calculations for interest‑only loans, trailing 12‑month or 6‑month aggregation of monthly operating statements, forward‑looking pro forma analysis as required, and consolidation of property‑level data for multi‑property loans.
  • Enter DSCR results into the Enterprise system with detailed commentary on methodology and outcome.
  • Flag and elevate covenant failures to the Asset Managers and initiate follow‑up actions.
• Guarantor Financials & Net Worth/Liquidity Testing (approx. 300 annually)
  • Reference and update the manual Guarantor Tracker to verify receipt of financials.
  • Manually aggregate Net Worth and Liquidity figures across multiple guarantors.
  • Document which guarantor statements were used to pass the covenant and enter results into the system.
• Specific Loan Loss Reserve Calculations
  • Update and run the Specific Loan Loss Reserve model quarterly.
  • Identify new additions to the reserves and research root causes.
  • Update the status of loans listed in the Reserve schedule.
  • Refresh the Specific Loan Loss Reserve PowerPoint presentation.
  • Collaborate with technology support to update the model as needed.

• 3‑5 years of loan servicing experience, predominantly commercial real‑estate loan servicing for multiple capital sources/investors.
• Deep understanding of commercial real‑estate operations and risks.
• Knowledge of commercial real‑estate finance including all types of loans, property types, and real‑estate lenders.
• Preferred experience in a cross‑functional team environment with familiarity in loan closing and boarding, billing and collections, loan documents (covenants, triggers, letters of credit, reserves, UCCs, liens), lease abstracting and analysis, property inspections and repairs.
• Strong leadership and problem‑solving abilities.
• Exceptional verbal and written communication skills.
• Accuracy oriented with a sense of urgency and strong focus on customer service.
• Ability to work in a fast‑paced, monotonous and deadline‑driven environment.
• Strong interpersonal and organizational skills.
• Understanding of risk review and watch‑list reporting.
• Experience with Enterprise or similar large‑scale servicing system.
• Strong Excel skills and ability to learn new software quickly.

Associate

Full‑time

Finance

Industries:
Financial Services and Real Estate

• Medical insurance
• Vision insurance
• 401(k)
• Paid paternity leave