Renovo Financial, LLC.

Special Situations Manager

Chicago, IL

The Special Situations Manager is responsible for expeditiously maximizing Renovo’s recovery on any non-performing asset. The non-performing asset category includes any serious delinquencies, foreclosures, and REOs.

Special Situations Manager | Chicago, IL

This role requires an individual with a keen ability to interpret others’ behavior/motivations and tailor tone and approach appropriately to fit the situation. The ideal candidate will have prior experience in residential real estate (preferably with a knowledge of construction) and be knowledgeable of legal and financial concepts relevant in commercial lending. A “We Never Lose” attitude is essential.

This position will work closely with Renovo’s senior management, including the CEO, SVP-Finance, and EVP-Portfolio Management.

Responsibilities

  • One-on-one engagement with borrowers communicating financial distress and/or an inability to complete the underwritten and approved construction plan.
  • Development and implementation of creative “win-win” exit strategies that sustain borrower engagement and maintain the integrity of Renovo’s security position.
  • Selection of a GC to finish renovation work and development of an appropriate budget that balances maximizing value with minimizing the time to completion.
  • Frequent on-site visits to monitor and assess work progress.
  • Selection and coordination with a real estate broker to quickly liquidate the property upon completion.
  • In tandem with Renovo’s counsel, coordinate the sending of legal notices and direct the strategy for any necessary litigation.

Background and Experience 

  • Minumum of 3 yrs of experience 
  • Prior experience in residential real estate (preferably with knowledge of construction)
  • Knowledgeable of legal and financial concepts relevant in commercial lending
Renovo Financial, LLC.

Peter Poidomani

VP of Operations
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