Head of Commercial Mortgage - Alternative Investments
Company: MassMutual
Location: Hartford
Posted on: September 18, 2024
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Job Description:
MassMutual is growing and with the evolution of the real estate
markets, our real estate debt and equity investment portfolios
continue to become more complex and more diverse in sourcing,
management and exposures. The Head of Commercial Mortgage Loans
will be responsible for developing investment strategies and
overseeing the execution of investment programs for commercial
mortgage loans in the General Investment Account of MassMutual.In
this role, as well as all roles within MassMutual, you will
demonstrate accountability, agility, a dedication to inclusiveness,
a strong business acumen, and will show courage, even in the most
difficult situations. We also highly value strong communication
skills, a passion for learning,leadership traits, resilience and
self-awareness.The Opportunity:An Evolving Real Estate
Portfolio:The search for attractive returns, together with growing
and diverse liabilities, continue to drive an evolving asset
allocation, of which our direct and indirect real estate exposures
are a critical part. - From a real estate credit perspective,
MassMutual makes commercial mortgage loans in the U.S., Europe and
Australia/New Zealand recommended by our affiliate investment
manager Barings. We also make or participate in commercial mortgage
loans originated by other unaffiliated investment managers. We take
commercial real estate credit exposure through CMBS securities
purchased on our behalf by Barings and other managers of ABS
securities and our secured portfolio lending programs where we make
loans to mortgage funds or REITs secured by portfolios of
commercial mortgage assets.MassMutual invests in buildings,
including real estate development projects, in the U.S. and Europe
recommended by our affiliate Barings. In addition, we invest
broadly in real estate equity funds managed by other managers
across the U.S., Europe and Asia. MassMutual's commitment to
sustainability will further increase the complexity of managing
this diverse portfolio of managers and assets. MassMutual has
pledged to reduce the greenhouse gas emissions created by its
investment portfolio to zero by 2050. Real estate-related asset
classes are in scope for early creation and adoption of benchmarks
in this path and require MassMutual to set environmental
sustainability objectives for its real estate portfolio and work
with its managers to achieve these goals.The Role:The Head of
Commercial Mortgage Loans will be a key member of the Alternative
Investments team with impact across the broad Alternative
Investment platform. Therefore, we seek an individual with
extensive real estate credit experience, including significant
experience reviewing and approving the work of other deal
originators across multiple credit cycles, as well as significant
first-hand experience working out mortgage defaults.Relative to
MassMutual's sustainability commitments, the Head of Commercial
Mortgage Loans will work with the Head of Real Estate to drive
sustainability and decarbonization goals for MassMutual's real
estate portfolio in partnership with the Head of ESG Investing and
our investment managers. In that regard, given the highly technical
nature of potential real estate sustainability benchmarks, the Head
of Commercial Mortgage Loans will need to be technically proficient
to opine upon the feasibility and economic impact of proposed
benchmarks or goals and will need to use his or her relationships
within the real estate community to understand how other asset
owners are interpreting such technical terms as we progress down
the sustainability journey as part of a community.An important
contributor to MassMutual's success is its to generate better
risk-adjusted returns than its peers and competitors. To do that,
we must be proactive in the pursuit of strong risk-adjusted return
and not reactive, which requires a profound top-down understanding
of economicvalue-creation in competitive markets and, at the same
time, a fundamental bottom-up understanding of
risk.Responsibilities:--- Relying on past senior management
experience, the candidate will influence the -investment strategies
and drive the execution of investment programs for commercial
mortgage loans and CMBS in the General Investment Account of
MassMutual.--- Work closely with senior-level colleagues in
financial reporting, risk management, and operations to ensure that
appropriate pre- and post-closing investment practices are being
adhered to internally and by Barings and unaffiliated managers.---
Independently manage the relationships with our various real estate
credit managers, both our affiliated investment manager Barings and
unaffiliated managers.--- Participate in the review and approval of
commercial mortgage loans and CMBS proposed for the MassMutual
portfolio by Barings and our other commercial mortgage loan
managers.--- Oversee MassMutual's relationship with Barings'
Portfolio Finance Group as it relates to the review and approval of
commercial mortgage loans proposed as collateral for portfolio
lending transactions, servicing matters, and proposed facility
modifications.--- Oversight of the work-out of defaulted or
under-performing mortgage assets on behalf of MassMutual by our
respective commercial mortgage loan managers.--- Evaluate,
understand and provide insight to asset allocation and senior
management on the composition and risks of the portfolio of
commercial real estate debt exposures of MassMutual.--- Help
recruit, mentor and train our emerging investment leaders and
analysts in underwriting, structuring and managing commercial real
estate lending programs, including the underwriting of real estate
equity and real estate credit funds.--- Assist with the pursuit of
sustainability goals or benchmarks for MassMutual's real estate
portfolio.--- Drive the strategic direction of MassMutual's CML and
CMBS portfolio by influencing the policies, procedures and
investment guidelines of MassMutual, Barings and our other managers
relative to the real estate and real estate credit portfolios in
response to changing risks and market conditions.Minimum
Qualifications--- 10+ years of commercial mortgage loan experience,
including:--- At least 5 years as a voting member of a mortgage
credit committee approving transactions originated and underwritten
by others--- At least 5 aggregate years of commercial mortgage loan
work-out experience--- Deep understanding of mortgage credit
underwriting procedures and standards across the industry and an
ability to teach the shortcomings in these procedures and standards
learned through past cycles--- Meaningful experience investing in
real estate properties and/or real estate equity funds sufficient
to demonstrate a broad understanding of returns across market
segments and across historical periods--- Undergraduate degree---
Team-oriented and organized, self-motivated with the proven ability
to manage multiple projects with a broad range of stakeholders to
deliver results in a dynamic environment.--- Accountable, with a
strong sense of ownership and attention to detail.--- High degree
of professionalism, integrity, and maturity.The Ideal
Qualifications:--- Significant prior responsibility for commercial
mortgage credit approval for a major bank or insurance company.---
Strong analytical and written/verbal communication skills,
including synthesizing research and concepts into actionable
insights.--- Strong leadership skills including the ability to grow
the next generation of real estate professionals.--- Masters degree
or CFA Charter holder--- Intellectually, relentlessly curious
self-starter with a strong aptitude for quantitative and
qualitative analysis.--- Critical thinking skills, creativity, and
out of the box problem solving skills.#LI-IZ1MassMutual is an Equal
Employment Opportunity employer Minority/Female/Sexual
Orientation/Gender Identity/Individual with Disability/Protected
Veteran. We welcome all persons to apply. Note: Veterans are
welcome to apply, regardless of their discharge status.
If you need an accommodation to complete the application process,
please contact us and share the specifics of the assistance you
need.
Keywords: MassMutual, West Hartford , Head of Commercial Mortgage - Alternative Investments, Other , Hartford, Connecticut
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