Manager – Asset Management Manager – Asset Management …

M&G plc.
in Singapore
Permanent, Full time
Last application, 18 Jan 22
M&G plc.
in Singapore
Permanent, Full time
Last application, 18 Jan 22
M&G plc.
At M&G our vision is: to become the best loved and most successful savings and investment business and we’re looking for people who are excited about joining us on our journey. We’re digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we’re looking for exceptional people who live our values and behaviors and who can inspire others; embrace change; deliver results and keep it simple.

What you can expect from us:

We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:

  • Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
  • Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
  • Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognize the important contribution you make
  • Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best

The Role:

Identifying opportunities to improve asset investment performance through leasing strategies, enhancement of planning or via change through refurbishment, alteration or redevelopment. Taking the lead in driving asset management activities (including oversight of outsourced property management), with direct responsibility for delivery of landlord & tenant and leasing strategies (including lettings, rent review, lease renewal & restructuring), as approved via Asset Initiatives or within the Asset Plan.  

To contribute to the achievement of strategic investment objectives developed and agreed upon on a periodic basis and recorded in an Annual Asset Plan. To deliver budgeted income and capital returns in line with the Asset Plan.  

Key Work Level Accountabilities: Manager/Expert

  • For people managers, accountable for managing and motivating others to ensure quality of delivery to customers and stakeholders
  • For technical specialists, accountable for delivering expert advice or service, using specialist knowledge and subject matter expertise
  • Applies judgement to deliver outcomes, evaluating a range of potential solutions, considering the impact for customers, cost and risk
  • Manages conflicts that may impact delivery
  • Challenges upwards given knowledge of delivery and awareness of complex systems and the broader picture
  • Identifies and anticipates need for changes to continuously improve quality and efficiency of output
  • Manages resources and risks using expert judgment, know-how and experience

Key Responsibilities for this role:

Investment Responsibilities

  • Establishing and maintaining the Asset Strategy and hold/sell analysis for each allocated asset. 
  • Monitoring and reviewing, in conjunction with the Fund Manager, the investment performance of assets against the appropriate benchmark and understanding the drivers of performance 
  • Development and management of 10/15-year cash flow models of assigned assets using Argus Enterprise software (updated quarterly). 
  • Appraising, evaluating and approving the agreed asset strategy or proposals developed aimed at enhancing asset performance whether through the Asset Plan or individual Asset Initiatives. 
  • Advising the Fund Manager on foreseeable risks in the investment 
  • Ensuring the accuracy of the investment data held on the relevant in house systems or systems managed by service providers.  
  • Ensuring assigned assets are kept "ready for sale" from a compliance, presentation and legal title basis.  
  • Execution of approved disposition strategy ensuring optimised returns are secured and legal transfer is completed correctly.  
  • Supply research received from the property market to relevant teams and where appropriate extend invitations to presentations and seminars to relevant colleagues  
  • Providing relevant information to the appointed external valuers.  
  • Identifying, appointing and negotiating the terms of appointment of investment agents and consultants and monitoring their performance.  
  • Undertaking valuations and feasibility analyses as required in support of any recommendations requiring Fund Manager’s authority.  
  • Sharing market information within M&G Real Estate to ensure, as appropriate, all Client Funds benefit from this information. Identifying and promoting ideas for research to the Head of Asset Management (HoAM) and/or Fund Manager.  

Asset Management Responsibilities

Regional Role

  • Govern and manage the periodic valuation program across the funds implementing the best local practice  in-line with global M&G valuation policy
  • Consolidate the periodic valuation summary to seek an approval from global valuation forum and fund’s valuation committee
  • Manage the procurement of fund’s valuation program ensuing the optimized strategy in-line with M&G GOP and prepare approval memo to obtain relevant parties’ approval
  • Engage with fund team to work with various type of portfolio level tasks
  • Support the fund team to review new acquisition opportunities where local M&G AM has limited capability
  • Acting as  a regional AM point person for the value add fund including but not limited to;
    • consolidating the annual budget and asset plans
    • making sure the deliverables are prepared on time and with appropriate contents upon periodic reporting and asset strategy days, etc.
  • Develop AM analysis and reporting tools and template to standardize the best quality AM service across the different funds under management   
  • Play a regional connecting point between fund management team and local AM team
  • Support HoAM for ad-hoc reporting, analysis, and presentations.; improving efficiency and effectiveness of AM operations

Asset Specific Role

  • Delivering optimised total returns for allocated assets based on risk profile, aims and objectives of the various mandates and funds.  
  • Preparation of a periodic Asset Management reporting deliverables for any allocated assets including; Annual Asset Plans, Lease Approvals, Capex Approvals etc.  
  • Managing periodic (quarterly & annual) valuations for assigned assets.
  • Assisting the HoAM procure and manage the services of external service provider not limited to appointment and performance of service providers associated with assigned assets (Property Managers, Facility Managers, Leasing Agents Consultants);   
  • Managing and monitoring the selection of professional and agent sub-contractors to ensure that the appropriate quality and cost of service is obtained, avoiding conflicts of interest and adhering to internal M&G compliance and policy.  
  • Identifying, negotiating and implementing initiatives including lease handover/re-letting opportunities and reconfiguring properties to enhance the income return;  
  • Managing rent review and lease renewals, both in-house and using external consultants as may be agreed 
  • Organising and chairing asset review & letting meetings with relevant participants (as required), ensuring agreed action points and agreed strategy are documented, communicated to all participants and followed through;  
  • Approving the property management strategy and objectives and overseeing implementation by the Property Manager, including the following:  
    • Ensuring that income is maximized and non-recoverable costs proactively managed & minimized,  
    • Ensuring that assets are kept "ready for sale" (other than where part of an agreed strategy).
    • Long range capex plan for your assets.  
  • Monitoring and reviewing under the lead of the HoAM, Fund Manager, the investment performance of assets.  
  • To contribute proactively in respect of asset management and leasing factors that may influence the hold / sale decision in respect of individual assets.  
  • Set up, build, maintain and manage key relationships with professional service providers, subject matter experts and Agents.  
  • Organising and chairing asset day meetings with relevant participants (as required), ensuring agreed actions points are documented, communicated and followed through; 
  • Contributing to M&G’s customer relationship management program (establishing and owning relationship with key portfolio customers (tenants); 
  • Develop in depth market knowledge of your assets, sectors and markets. Be the go to person within the M&G team.  
  • Develop and execute asset transition plans for newly acquired assets.  
  • Management of asset level delegation of authority for service providers to work within.  
  • Managing M&G Real Estate's data bases (Argus Enterprise, Yardi, MiVeiw(internal database), etc.). 

Key Knowledge, Skills & Experience:

  • Post graduate / professional qualifications in property  
  • 5 to 10 years’ experience in the Property / Asset Management function within the real estate sector  in Asia Pacific and or regional markets,  particularly in  asset management, leasing, property management, capex/repair, real estate valuation. 
  • Proficiency in analyzing and reporting on NOI Variance 
  • Experience and or proficiency with Argus Enterprise (DCF software), MS Office (Excel/Word/PPT) & Yardi 
  • Proficiency in financial analysis, valuation movements, reading and comprehending P&L & Balance Sheets 
  • Proficiency in English and an Asian language is preferred (as role holder will work with Asia Pacific stakeholers)

We live by four behaviours at M&G and we ask all our employees to:

  • Inspire Others – Support and encourage each other, creating an environment where everyone can contribute and succeed
  • Embrace Change  - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
  • Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
  • Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things

At M&G Diversity and Inclusion is a strategic objective. We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people.  We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationally, disability, or military service and welcome those who have taken career breaks. We will consider flexible working arrangements for any of our roles.

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