Renovo Financial, LLC.
Special Situations Manager
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.
- 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