Main Responsibilities and Required Skills for Transaction Manager
A Transaction Manager is a professional who is responsible for managing and processing financial transactions. This includes tasks such as processing payments, reconciling accounts, and ensuring compliance with financial regulations. In this blog post we describe the primary responsibilities and the most in-demand hard and soft skills for Transaction Managers.
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Main Responsibilities of Transaction Manager
The following list describes the typical responsibilities of a Transaction Manager:
Adhere to
Adhere to client's Leasing Guidelines and Transactions Playbook.
Adhere to detailed processes of an account operations manual / playbook.
Analyze
Analyze and implement use of technology and automation for portfolio performance.
Analyze financial impact of identified opportunities.
Analyze and research market.
Assist in
Assist in measuring transactional performance.
Assist in the cost projection of each of these strategies.
Assist in the management of client rebate account.
Assist with all aspects of relationship management with the Client and required reporting.
Assist with determining client needs and communicate project parameters.
Assist with revenue projections & tracking.
Assist with routine presentation preparation.
Assist with the development of standard forms and procedures.
Assume
Assume key analyst and transaction responsibilities for a large, international strategic client.
Assume key transaction responsibilities for strategic clients.
Attend
Attend internal Transaction meetings.
Attend regular client meetings and conference calls.
Build
Build property marketing brochures and websites.
Coach
Coach and develop direct reports to reach full potential.
Coach and developing team members including attracting and retaining top talent.
Collect
Collect and enter portfolio data ensuring completeness and accuracy.
Communicate with
Communicate with clients and proactively perform any tasks that don't require broker involvement.
Compile
Compile and provide accurate tracking and reporting of client(s) deliverables.
Complete
Complete financial analysis.
Complete transaction ‘post mortems' and / or client survey's to facilitate continuous improvement.
Continue to
Continue to build a culture of speed, flexibility and frugality with all business partners.
Contribute to
Contribute to revenue and manage an account's adjusted growth margin year-to-year growth.
Coordinate
Coordinate and manage transaction teams.
Coordinate client site visits / market tours.
Coordinate field broker selection process.
Coordinate information requests.
Coordinate legal review of all client documents, as needed.
Coordinate legal review of all client leased / owned documents.
Coordinate monthly update conference calls to review progress and status of Work in Progress (WIP).
Coordinate negotiations and management of transactions.
Coordinate with account leadership to ensure tracking and reporting of client(s) deliverables.
Create
Create and implement account operations manual / playbook.
Create and maintain trust and strong relationships with internal and external parties.
Create solutions to deliver measurable value and structure winning approaches for new business.
Create strong client trust and confidence.
Deliver
Deliver measurable value by negotiating favourable economic and flexible lease terms for the client.
Determine
Determine clients' needs and communicate project parameters.
Develop
Develop and implement standard operating procedures (SOPs) and processes for the account.
Develop and refine internal transaction guidelines and real estate metrics.
Develop, implement, and manage all [regional] initiatives and programs for the account.
Develop occupancy expansion / contraction strategies.
Develop strong peer relationships and gain the confidence of the client.
Develop training curriculum content and assist in training TM talent.
Draft
Draft and route client documents, Request For Service Agreements and Broker Engagement Letters.
Drive
Drive revenue and manage an account's adjusted growth margin year-to-year.
Drive client-specific initiatives such as savings targets, benchmarking, and best practices.
Ensure
Ensure accuracy of all lease administration data and reporting.
Ensure accuracy of all transaction reports and client materials.
Ensure adherence to the contract.
Ensure all client processes and templates are adopted and adhered to during project cycle.
Ensure all State real estate standards are met.
Ensure comprehensive market coverage whilst proposing suitable options to clients.
Ensure legal compliance and deal documentation retention.
Ensure that all client and broker engagement documentation is executed.
Ensure timeliness and accuracy of deliverables such as cash flows, and presentations.
Establish
Establish consistency in the monthly reporting in each country.
Execute
Execute responsibilities with appropriate sense of urgency and follow-through.
Focus on
Focus on process improvement and developing transactional efficiencies.
Follow
Follow up on construction process, lease commencement, etc..
Forecast
Forecast and track commission revenues and rebates.
Foster
Foster client relationship by bringing a positive attitude to providing excellent client service.
Foster client relationships and creates strong client trust and confidence.
Foster strong client relationships.
Gather
Gather and evaluate real estate market and property data.
Gather, file, and record documents as required by Arizona Department of Real Estate.
Help
Help grow the best transaction management operation of its kind in North America.
Help team foster growth of junior talent.
Help TM account leads reporting of revenue, growth and efficiency.
Hire
Hire and manage co-brokers for selected lease transactions as required.
Identify
Identify, develop and implement improvements to client transaction management processes.
Identify occupancy cost opportunities.
Identify occupancy cost savings strategies.
Identify opportunities to develop new business with Account Directors and other key stakeholders.
Identify opportunities to improve client transaction management processes.
Identify potential issues and take action accordingly.
Implement
Implement and manages the change control process.
Implement standardized processes that create maximum efficiencies and add value.
Improve
Improve client transaction management processes across the market.
Initiate
Initiate new projects, dispositions and renewals.
Interact with
Interact with Client's strategic business partners and stakeholders.
Interface with
Interface with outside brokers.
Lead
Lead and / or facilitate client meetings.
Lead regular client interactions and conference calls.
Lead the development of strategic plans and provide strategic real estate advice to clients.
Log
Log sign calls and other inquiries and input into CRM.
Maintain
Maintain and seeks to improve team performance through regular coaching, feedback, and recognition.
Maintain copies of Client's specific process documents.
Maintain database of transaction activity.
Make
Make recommendations for implementation.
Manage
Manage account commission forecasting and invoices.
Manage a high volume of transactions.
Manage all activities to ensure timely completion.
Manage Analyst responsibilities throughout the transaction process.
Manage and support complex, large, and mid-size TM pursuits with high level of expertise.
Manage an ever-changing variety of internal initiatives and projects.
Manage audits of state transaction tax and VAT / GST filings.
Manage building tours with the client.
Manage client and prospect relationships.
Manage client communication.
Manage client rebate account.
Manage Client Relationships.
Manage criticals dates and timelines for transactions.
Manage High Volume of Transactions.
Manage invoice (s) , POs related to property, service providers with as per defined process.
Manage lease and sale transaction processes and complete / assign tasks relating to it as needed.
Manage or execute special projects, as assigned.
Manage preparation of marketing materials, including brochure, flyers, signage, email alerts, etc..
Manage relationships with key stakeholders in the Client's organization.
Manage required financial analysis and account process documentation.
Manage transaction reporting to the clients.
Modify
Modify and format existing generic process documents and playbooks to meet the Client's requirements.
Monitor
Monitor exemption certificates received and issued.
Monitor project timelines and resolve / escalate variances.
Negotiate
Negotiate and close RE transactions and contracts, ensuring they meet or exceed Philips expectations.
Operate
Operate a computer and other office productivity machinery.
Optimize
Optimize and integrate portfolio with clients' work place strategy.
Oversee
Oversee budgeting and revenue tracking of all transactions.
Oversee development and continuous improvement of standard forms and procedures.
Oversee / manage field broker selection process.
Oversee negotiations and management of transactions.
Oversee revenue tracking of all transactions.
Oversee transaction remotely by phone, email and occasionally in person meetings.
Oversee transaction service delivery.
Own
Own proformas for RFP negotiations and evaluate scope and pricing changes to P&L.
Participate in
Participate and run account activity calls.
Participate in all client account activities.
Participate in all client / C&W business reviews.
Participate in regular client meetings and conference calls.
Participate in team and client objectives to ensure targets and goals are achieved.
Perform
Perform and / or review complex financial analyses.
Perform or coordinate market research, existing buildings and build-to-suit sites.
Perform property searches for clients.
Perform research for assigned brokers on prospective clients, current owners or future tenants.
Prepare
Prepare and present site / facility and proposal analysis to identify real estate costs.
Prepare a position succession plan.
Prepare commission invoices and track transactions in proprietary software programs . #.
Prepare financial and non-financial analysis of viable options.
Prepare QBRs to the satisfaction of the Client.
Prepare reports, data and financial analyses toward the completion of a strategic.
Prepare transaction Kick-off materials and market surveys.
Present
Present transaction activity to client / C&W management.
Prioritize
Prioritize conflicting needs.
Process
Process and program management development and implementation.
Procure
Procure, review, and analyze RE valuation reports.
Produce
Produce and / or support business case development.
Provide
Provide advice and guidance on client transactions.
Provide advice on client transactions.
Provide input to PRE management for Annual Operating Plan (AOP) process.
Provide outstanding client support.
Provide portfolio optimization strategies to the regional and country based teams.
Provide regular feedback to leadership regarding issues, challenges, and areas for additional focus.
Provide status reporting on all active and upcoming transactions.
Provide suggestions for process and technical improvements relating to the transaction process.
Provide training and on-boarding support of new team members and ongoing development of associates.
Provide Transaction Oversight and Brokerage Services.
Quantify
Quantify and report on occupancy cost savings and value add analyses.
Report
Report all transaction revenue.
Report to and update client on activity levels as required.
Represent
Represent the company at business, community and networking events.
Research
Research companies and landlords.
Research companies, landlords, and potential subtenants.
Research multimarket companies to assist with prospecting.
Resolve
Resolve landlord / tenant disputes.
Retain
Retain (internal or external) and manage real estate broker partners nationally.
Review
Review, and interpret financial analysis.
Review commission invoices for accuracy and progress of payment.
Review of the portfolio with designated client stakeholders.
Review portfolio database and upcoming critical dates for opportunities to modify the portfolio.
Review tax paid on purchases and sales monthly.
Review to comparable properties.
Schedule
Schedule and partake in business meetings, appointments, appraisals and site inspections.
Secure
Secure tax and insurance quotes.
Speak
Speak with owners and provide them with updates on their properties.
Support
Support Client Relationships.
Support revenue growth, operational effectiveness and risk mitigation balance.
Support the implementation of new technologies and / or system changes.
Track
Track and move transactions forward using polite persistence to ensure adherence to timelines.
Track sign calls, LOI's, and activity for each of assigned brokers' properties.
Understand
Understand client(s) strategic real estate goals and implement corresponding real estate plans.
Undertake
Undertake Business Unit specific Portfolio Review and Planning.
Update
Update client on Real Estate (RE) market (e.g. supply-demand) changes impacting its portfolio.
Update reports to clients with high level of accuracy.
Work with
Work closely together with global CoE transactions on processes, templates and KPI's.
Work directly with client and team members to resolve transaction and landlord issues.
Work with clients to set business and real estate strategies and execute on those strategies.
Work within the client's lease administration and transaction tracker systems.
Work with IT to customize reports, dashboards and analytics specific to account team usage.
Work with the clients' operational groups at all levels to identify real estate needs.
Most In-demand Hard Skills
The following list describes the most required technical skills of a Transaction Manager:
Real Estate
Leasing
Transaction Management
Business
Corporate Real Estate
MS Outlook
Real Estate Brokerage
Lease
Financial Analysis
MCR
Read And Understand Commercial Real Estate Transaction Documents
Assignment Agreement
Commercial Real Estate Transaction
Estoppel
Most In-demand Soft Skills
The following list describes the most required soft skills of a Transaction Manager:
Written and oral communication skills
Interpersonal skills
Analytical ability
Organizational capacity
Multi-task
Negotiation
Presentation
Work independently and within a team to build relationships
Manage time and workload
Work successfully under pressure
Attention to detail
Driven professional environment
Effectively prioritize
Interact effectively with business partners and clients
Take on new challenges, responsibilities
Initiative
Collaborative
Leadership
Self-management
