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Cigna Investment Management - Real Estate Vice President, Asset Management at Cigna in Bloomfield, Connecticut

Posted in General Business 30+ days ago.

Type: Full-Time





Job Description:

Role Summary

Cigna Investment Management (CIM) manages over $35 billion in assets on behalf of Cigna, a publicly traded global health services company. CIM's assets are invested in public bonds, private placement securities, commercial mortgages, real estate equity, mezzanine debt, private equity, equity securities, warrants, commercial paper, certificates of deposit, municipal securities, mutual fund shares, United States government securities, options contracts on securities, futures contracts on intangibles, money market funds, derivatives, structured notes, exchange traded funds and hedge funds.

Cigna Realty Investors (CRI) is the real estate investment division of CIM. CRI's mission is to be a boutique real estate investor focused on delivering superior long-term returns. CRI manages a diverse real estate portfolio ($4B of AUM) consisting of joint venture equity partnerships, third-party managed investments, high yield investments, and commercial mortgages. CRI is a relationship driven company focused on doubling its commitment to its equity and high yield businesses with an emphasis on apartment and industrial opportunities.

The Vice President position, reporting to the Asset Management Managing Director, will be responsible for oversight of assets in the assigned territory, including the review of budgets, and the preparation of the annual business plan, valuations and projections related to capital investment and net investment income. This positon requires the ability to work with partners and borrowers to gather insights on market trends and capital markets. The Vice President is expected to work support the Origination team leader on new investments in assigned markets. CRI's strategy targets direct joint ventures in the range of $50 million to $150 million (GAV) and commercial mortgage loans in the range of $20 million to $60 million.

Responsibilities

Relationship Management :


  • Interfaces with joint venture partners, borrowers and brokers in assigned markets.

  • Works with the Origination team on new investments on opportunities and supports the closing process

  • Maintains internal relationship with accounting, finance, and legal

  • Complies with asset management policies and procedures and works to identify improvements and/or implement best practices

  • Accountable for all investment recommendations and willing contributor to team

Asset Management: Direct Joint Ventures


  • Direct joint venture responsibilities: independent review of annual business plans, budget and leasing activity. Prepares variance analysis, semiannual valuations, net investment income projections and capital requirements.

  • Reviews monthly construction draw, verifies compliance with the relevant documents and evaluates and recommend actions related to change orders.

  • Ensures compliance with joint venture partnership covenants and first mortgage loan requirements

Asset Management: Commercial Mortgage Loans


  • Commercial mortgage loan responsibilities: proactively monitors credit risk and manages loans in assigned territory.

  • Ensures compliance with loan documents and performs initial review of borrower requests.

Qualifications


  • 5 to 7 years of real estate asset management experience.

  • BA/BS in business, economics, finance, or other relevant field

  • MBA, CFA and/or other advanced business or investment designation desirable

  • Experience managing real estate investments and multiple property types, preferably apartment and industrial.

  • Ability to solve problems and work in growth environment

  • Working knowledge of documents: limited liability company agreements, purchase and sale contracts, leases, development agreements, and loan documents

Core Competencies and Skills


  • Acts with a sense of urgency

  • Excellent written communication, verbal and analytical skills

  • Strong Excel skills; proficient in Microsoft Office applications; Argus

  • Demonstrated apartment and industrial expertise

  • Ability to work as part of a team

  • Problem solving and decision making skills

  • Prioritizes work load and meets deadlines

  • Ability to travel as needed for this position

About Cigna

Cigna Corporation exists to improve lives. We are a global health service company dedicated to improving the health, well-being and peace of mind of those we serve. Together, with colleagues around the world, we aspire to transform health services, making them more affordable and accessible to millions. Through our unmatched expertise, bold action, fresh ideas and an unwavering commitment to patient-centered care, we are a force of health services innovation. When you work with us, or one of our subsidiaries, you'll enjoy meaningful career experiences that enrich people's lives. What difference will you make?

Qualified applicants will be considered without regard to race, color, age, disability, sex, childbirth (including pregnancy) or related medical conditions including but not limited to lactation, sexual orientation, gender identity or expression, veteran or military status, religion, national origin, ancestry, marital or familial status, genetic information, status with regard to public assistance, citizenship status or any other characteristic protected by applicable equal employment opportunity laws.

If you require reasonable accommodation in completing the online application process, please email: SeeYourself@cigna.com for support. Do not email SeeYourself@cigna.com for an update on your application or to provide your resume as you will not receive a response.





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