Core Asset Management competencies
From our experience of working with employers across Europe, we have identified seven key skills, detailed below, that we feel are the most important for today’s asset managers.
MRICS (Member of the Royal Institution of Chartered Surveyors)
As the MRICS qualification is increasingly globally recognised, it has become the common standard for the majority of employers looking for asset managers.
Previous experience in property asset management
Employers are looking for relevant property asset management experience, gained within either a consultancy or a client side role. It is very rare that individuals with no previous experience can step straight into an asset management role. A common route is to start in property management, where it's possible to gain experience in some elements of asset management. Such experience will put the candidate on a good footing should they decide to apply for junior asset manager roles in the future.
Financial modelling skills
Demand is increasing for asset managers who have a good understanding of financial modelling. The better you are at modelling, the more roles will be available to you.
Reasoned decision making
Today’s asset managers must have experience of carrying out feasibility studies and producing reports recommending acquisition, disposal or refurbishment of individual assets. You must also be able to focus on individual assets, while recognising the impact these have on the operational and financial performance of the whole portfolio.
Increasing income streams
Employers are looking for someone who is capable of undertaking rent reviews and negotiating better deals that will add value to the assets. The ability to formulate and implement strategies that will add value to assets under management and make best use of the capital expenditure budget is also important.
This role requires regular reporting to the fund manager or the client on the operational and financial performance of the portfolio. Asset managers must be prepared to justify any plans and decisions they have made regarding individual assets and the wider portfolio.
The right blend of personal qualities
The very nature of the job requires that asset managers are confident and articulate individuals with good presentation skills. A large proportion of the role is likely to involve report presentations and regular liaison with the client, the fund manager, property managers and tenants.
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