VACANCY 2, JUNIOR REAL ESTATE AUCTION AND REPOSSESSION SPECIALIST

The Real Estate Department is in charge, inter alia, of managing the collaterals guaranteeing the NPL portfolios, ensuring a complete aid and defense of the forced auctions (insolvency procedures, bankruptcy, foreclosures) with the aim of maximizing expected recovery with the timely activation, monitoring and facilitation of all the mentioned judicial procedures, with a special focus on auction active participation with different Reocos (auction management). The Department manages also data analysis, reporting, market research and strategy, collateral evaluation and pre and post-acquisition due-diligence coordination, with the aim of keeping the owned properties and collateralized assets’ value monitored and up-to-date.

An important aspect of the activity refers to the pre and post-acquisition reporting to investors and/or for internal purposes.
More specifically, the auction & repossession management takes care of performing investment analysis, drafts, updates and monitors the REO acquisition business plan, coordinating all the necessary activities and external resources for the specific REO strategy to be implemented. Thanks to a continuous analysis, clustering and monitoring of properties, auctions and collaterals’ portfolios, the function will be able to select and implement the best strategies for the most profitable valorization of the assets.

JOB SPEC: PRINCIPAL AREAS OF FOCUS

• Management of all the prodromic phases to the collateral analysis, under a technical, economical, legal and commercial point, cooperating with the loan managers;
• Prior identification and analysis of all potential repossession cases, drawing up the relevant Business Plan and detailed Repo Form;
• Continuous monitoring of the collaterals by showing a proactive role in the identification of the possible real estate strategies (including feasibility studies, change of destination of use, capex estimation, and more) with the objective of recovery maximization through support in the properties disposal strategy;
• Management of all ancillary activities of auction facilitation, both by coordinating external providers and with regular updates and contacts with procedural bodies;
• Regular and steady control and verification of all the service providers’ activity, which needs to be in line with expectations and contracts in terms of approach, methodology, cost and timing;
• Develop independent market research and customer relations with all potential interested buyers, investors, technicians, advisors, brokers;
• Financial modeling, business plan regular maintenance with deviation analysis referring to acquisition and sale, activities and results reporting, contributing to the regular revaluation of the expected recovery and collection of the specific positions;
• Overseeing and coordination of all necessary activities (administrative, technical and legal) for auction participation and transfer decree release and asset eviction, ending with the formal taking over of the asset.

RELEVANT SKILLSETS & EXPERIENCE

• Degree in technical disciplines (Engineering or Architecture) or Economics;
• 2+ years experience in Real Estate expertise for primary players of the NPL sector, banks, investment and private equity funds, loan management servicers, consultancy firms, asset management companies, primary national and international real estate brokerage companies, preferably if in the “distressed assets” Sector;
• Professional working proficiency in English
• Familiarity with Office suite (advanced Excel Skills are a plus) and property management softwares.
• Direct working experience in ReoCos or repossession activities in judicial auctions, complex real estate valuation companies across multiple asset classes and different valuation methods;
• Ability to travel (site visits and other activities)
• Understanding of the RE market (technical, urban, commercial, financial, and legal aspects) and more specifically in property estimates and NPL Due Diligence;
• Basic knowledge of banking and bankruptcy law (Loan Default management) to liase with external lawyers and support loan managers in recovery and collection activities.
• Post-degree education and specific real estate certifications.
• Good analytical, organization and negotiation skills
• Ability to manage complex relations, willing to work in team
• Precision, accuracy, diligence, reliability
• Quick learner, curious and proactive
• Ability to work under pressure and flexibility to pursue the assigned strategies

LOCATION & SALARY / BENEFITS

The role will be based in Phoenix Asset Management SpA’s Milan Headquarters (Via Manzoni, 5, Milan).

Compensation and conditions will be discussed during the interview process, and commensurate to the relevant experience and specific candidate’s profile.

Applications can be submitted by email at recruitment@phoenix-assetmanagement.com.