Legal Business Associate Jobs in Minnesota

INTRODUCTION

At Northmarq, you can be part of something special. Northmarq is a unique capital markets resource for commercial real estate investors, providing our clients access to experts in debt, equity, investment sales, loan servicing, and fund management. We offer you a career path with best-in-class training, and we foster inclusive teams committed to collaboration, mentoring, and growth. At Northmarq, we will help you unlock your potential – whether you are an industry veteran or you’re just getting started. Your new career is waiting. Start something special today. Northmarq was voted by Real Estate Forum as one of The Best Places to Work in Commercial Real Estate!

ROLE AND RESPONSIBILITIES

Northmarq is seeking an experienced Associate Portfolio Manager to join its Bloomington, MN headquarters office. This position requires a deadline-driven, service-focused, and detail-oriented individual who will be responsible for financial statement and rent roll analysis, watchlist/surveillance, reserve disbursement requests, new loan audits, reviewing and analyzing borrower consent requests, calculating/coordinating loan payoffs, and satisfying investor requirements. The focus will be on commercial mortgage risk management and customer service. Additional responsibilities may be added to align with department strategies and objectives.

This role supports a flexible schedule that prioritizes in-office teamwork, with flexibility for remote work when appropriate.

Specific Responsibilities:

• Manage a portfolio of more complex commercial real estate loans and support senior team members with key tasks on more complex commercial real estate loans.
• Work with a diverse range of Life Insurance lenders, companies, private clients, and investment lenders, providing a personalized, client-centric experience tailored to each lender’s specific guidelines and requirements.
• Provide premier customer service to lenders, borrowers, other servicing staff, and regional offices.
• Follow up with borrowers and management companies regarding variances and general income and expense questions.
• Monitor and update monthly loan reports utilized by investors and management to analyze portfolio risk.
• Audit new loan boarding and setup to ensure loan terms and covenants were accurately captured in the servicing system.
• Support Portfolio Managers and Senior Portfolio Managers with consent requests and various Lender requirements.
• Analyze annual and quarterly financial statements for multifamily and commercial properties in accordance with the requirements of various Life Insurance Company Lenders and other investors.
• Review and make recommendations for releases from reserves, including replacement, repair, capital expenditure, TI/LC, and insurance loss.
• Analyze and make recommendations for lender consent of borrower requests, including lease approvals, maturity extensions, partial releases/substitutions of collateral, easements, condemnations, ownership transfers, loan assumptions, etc.
• Follow up with borrowers to resolve any post-closing deferred maintenance items or other high-risk items identified during the annual inspection.
• Process insurance loss requests, manage proceeds, and monitor the restoration of the property.
• Calculate and coordinate loan payoff requests, including yield maintenance calculations.
• Monitor and collect outstanding mortgage payments, carefully documenting collection efforts.
• Perform financial covenant testing calculations including NOI, DSCR, debt yield, etc.
• Grow and develop strong relationships with Northmarq’s Life Insurance Company Lenders.
• Provide training and mentoring across teams on areas of expertise, including analysis, underwriting, and general CRE knowledge.
• Serve on procedure committees, updating policies and procedures for Portfolio & Asset Management.
• Minimal business travel for lender visits, industry/company conferences, etc. (1-3 times per year).
• May participate in department strategic initiatives.
• Perform other reasonable tasks/projects as assigned within the department.
• Strategically manage workload to uphold portfolio standards and align with departmental objectives.

BASIC QUALIFICATIONS

Education:

Bachelor’s Degree, preferably in finance, real estate, or accounting.

Work Experience:

3-6 years of experience in finance or accounting, finance asset management, or commercial lending.

Demonstrated Technical Competencies

- Proficient in Microsoft Outlook, Excel, and Word with strong technical skills to support daily operations and reporting needs.
- Knowledge of commercial real estate finance and commercial loan terminology.

Demonstrated Professional Competencies

- Demonstrated expertise in financial modeling and analytical skills.
- Exceptional written and verbal communication skills, with the ability to convey complex information clearly and professionally.
- Committed to delivering outstanding customer service and fostering positive relationships with both internal stakeholders and external clients.
- Highly organized and adept at managing multiple priorities in a fast-paced environment while consistently meeting deadlines.
- Proven ability to work independently with minimal supervision, as well as collaboratively in a team-oriented setting.
- Strong attention to detail and a commitment to producing accurate, high-quality work.
- Resourceful and proactive in identifying and resolving challenges appropriate to the role’s scope and impact.
- Trusted to handle sensitive and confidential information with the utmost discretion and integrity.

COMPENSATION

Northmarq offers a highly competitive benefits package including: medical, dental, vision, paid time off, 401K match and an annual discretionary contribution based on business performance, paid parental leave and adoption assistance, education assistance, volunteer paid time off, charitable contribution match and so much more!

Northmarq carefully considers multiple factors to determine compensation, including a candidate’s education, training, and experience. The salary range for the Associate Portfolio Manager position is $85,000.00 to $100,000.00 annually. This range is a good faith estimate and the actual compensation that is offered to a successful candidate will depend on the candidate’s skills, qualifications, and experience.