NewPoint Real Estate Capital
Job Summary
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. This role is also critical in modeling and reporting on Quarterly Specific Loan Loss Reserves.
Duties and Responsibilities
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.
Test DSCR Covenants Annually (approx. 550)
Perform DSCR calculations as defined in the loan agreement, including manual amortization calculations for interest‑only loans and trailing 12‑ or 6‑month manual aggregation of monthly operating statements.
Create forward‑looking pro forma analysis when required and consolidate property‑level data for multi‑property loans.
Enter DSCR results into the Enterprise system with detailed commentary on methodology and outcome.
Flag and expedite covenant failures to the Asset Managers and initiate follow‑up actions as needed.
Test Guarantor Financials & Net Worth/Liquidity (approx. 300)
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.
Quarterly Specific Loan Loss Reserve Calculations
Update and run the Specific Loan Loss Reserve model quarterly.
Identify new additions to the Specific Loan Loss Reserves and research the root cause.
Update the status of loans listed in the Loan Loss Reserve that have previously been included on the reserve schedule.
Update the Specific Loan Loss Reserve PowerPoint presentation.
Work with Technology support to update the model as needed.
Qualifications
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 an understanding of 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, including covenants and triggers
Letters of credit, reserves, UCC’s, liens
Lease abstracting and analysis
Property inspections and subsequent repairs
Strong leadership and problem‑solving abilities
Exceptional verbal and written communications 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
Working knowledge of Enterprise! (or similar large scale servicing system)
Strong in Excel and ability to learn new software quickly
Seniority level
Associate
Employment type
Full‑time
Job function
Finance
Industries
Financial Services and Real Estate
Benefits
Medical insurance
Vision insurance
401(k)
Paid paternity leave
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Duties and Responsibilities
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.
Test DSCR Covenants Annually (approx. 550)
Perform DSCR calculations as defined in the loan agreement, including manual amortization calculations for interest‑only loans and trailing 12‑ or 6‑month manual aggregation of monthly operating statements.
Create forward‑looking pro forma analysis when required and consolidate property‑level data for multi‑property loans.
Enter DSCR results into the Enterprise system with detailed commentary on methodology and outcome.
Flag and expedite covenant failures to the Asset Managers and initiate follow‑up actions as needed.
Test Guarantor Financials & Net Worth/Liquidity (approx. 300)
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.
Quarterly Specific Loan Loss Reserve Calculations
Update and run the Specific Loan Loss Reserve model quarterly.
Identify new additions to the Specific Loan Loss Reserves and research the root cause.
Update the status of loans listed in the Loan Loss Reserve that have previously been included on the reserve schedule.
Update the Specific Loan Loss Reserve PowerPoint presentation.
Work with Technology support to update the model as needed.
Qualifications
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 an understanding of 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, including covenants and triggers
Letters of credit, reserves, UCC’s, liens
Lease abstracting and analysis
Property inspections and subsequent repairs
Strong leadership and problem‑solving abilities
Exceptional verbal and written communications 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
Working knowledge of Enterprise! (or similar large scale servicing system)
Strong in Excel and ability to learn new software quickly
Seniority level
Associate
Employment type
Full‑time
Job function
Finance
Industries
Financial Services and Real Estate
Benefits
Medical insurance
Vision insurance
401(k)
Paid paternity leave
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