Classification and Pay
Salaried Exempt
Reports to
Director of Underwriting and Acquisitions
Position Summary/Objective
In keeping with our organization’s goals, this role will oversee planning, implementing, and managing the underwriting processes for internal and external acquisitions. Your work will be instrumental in attaining our organizations goals by implementing plans which may include value-add opportunities, driving financial performance of the portfolio, implementing investment strategies, and working closely with the asset management, property management, operations and accounting teams to monitor daily property operations.
This position requires one to lead by example and communicate to constituents outside the company in a fashion consistent with the culture and values of the company. Our company culture emphasizes and promotes teamwork, ownership in all that we do, entrepreneurialism, a strong work ethic, initiative, honesty, integrity, trust, and customer service. This role will work on healthcare transactions (including SNFs, ALFs, ILFs, and similar entities). Our organization will depend on your knowledge, skills, and attention to detail to ensure successful outcomes.
Job Duties
§ Assist in the underwriting process for all internal and external acquisitions
§ Financial responsibilities include:
o Spread and analyze historical financial performance
o Assist in creation of detailed pro forma which include profit and loss by downloading/acquiring data from CMS and Operators.
o Ensure Real Estate Taxes are paid timely
o Construct ROI models/valuation matrixes
o Create projected cash flow and balance sheets (if applicable)
o Create accounts receivables aging analysis (if applicable)
§ Create fundamental operational reports:
o Market and competition analysis
o Historical clinical performance
o Summary analysis
§ Assist with deal pipeline along with acquisition, due diligence and closing.
§ Negotiate lease or loan terms with potential operators/lenders and tenants.
§ Prepare investment memoranda with supporting materials including transaction documentation.
§ Asset management, including:
o Spread monthly financial performance on each asset under management
o Create, maintain and track KPI models on all assets
o Review and stress test operating budgets for accuracy.
o Liaise and manage relationships with tenants/lenders or operators on a regular ongoing basis. Including monthly calls with tenants to review performance trends.
o Draft quarterly investor and management reports per portfolio
o Review insurance policies and requirements.
o Liaise with finance partners on an ongoing basis and submit all required data (compliance certificates, census, survey results, etc.)
Supervisory Responsibility
This position may have supervisory responsibilities to oversee employees in the underwriting department.
Work Environment
This position operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers and may require some use of machinery typically used in construction environments to assess projects. This role is generally fulfilled in an office setting but may require travel to various locations and at times can cover multiple locations in a days’ work.
Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to talk and hear. The employee may at times inspect physical sites and meet at various locations, requiring the ability to stand, walk, sit, use hands, reach, and lift as necessary.
Position Type and Expected Hours of Work
Although this is a Monday through Friday position, significant events can occur at any given time. Additional involvement may be necessary if systems are not properly implemented as well as in exigent circumstances outside the control of the company. After-hours calls may be necessary if there exist such exigent circumstances.
Travel
This position will be expected to travel as needed to multiple facilities and locations, including potential acquires to conduct due diligence.
Required Education and Experience
§ A Bachelor's degree in finance, accounting, economics, or Real Estate/equivalent professional work experience.
§ At least 2 years prior experience in Skilled Nursing, multifamily and / or real estate management in an operator or institutional environment
§ + experience in a related position in financial analysis, investment analysis, investment management, corporate finance, investment banking, private equity, or management consulting
§ Experience in construction management and oversight of value-add renovations preferred.
Required Skills
- Intermediate Computer literacy skills (Microsoft Outlook, Microsoft Word, PowerPoint and Adobe)
§ Advanced Excel skills required. Candidate must be able to develop and work with complex multi-page spreadsheets and workbooks.
- Demonstrate leadership, organizational skills, and maintain a positive and professional attitude
§ Candidate should possess project management skills, ability to prioritize tasks and maintain numerous projects.
§ Excellent analytical skills, problem solving skills, and ability to obtain, process and analyze financial data. Solid accounting skills are necessary.
§ Ability to work well under pressure, meet deadlines and handle multiple tasks simultaneously with attention to detail.
§ Ability to engage in active listening (giving full attention to those speaking), critical thinking (using logic and reasoning to identify strengths/weaknesses of alternative solutions), and active learning (understanding implications of new information during problem-solving situations)
§ Self-motivation with the ability to work both autonomously and with a team and possess strong written and verbal communication skills.
§ A thorough understanding of finance concepts such as NOI, cash on cash returns, IRR, present value, discounted cash flow is required.
§ Familiarity with revenue management software, construction management or clinical/facility operations a plus.
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for their job. Duties, responsibilities, and activities may change at any time with or without notice.
Reasonable Accommodation
Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions of this position.
Job Type: Full-time
Benefits:
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Physical setting:
Schedule:
Experience:
- Accounting: 4 years (Required)
- Microsoft Excel: 1 year (Required)
Ability to Commute:
- Skokie, IL 60076 (Required)
Ability to Relocate:
- Skokie, IL 60076: Relocate before starting work (Required)
Work Location: In person