Asset managers are responsible for the management, procurement, valuation, and disposition of a company's property, data, and documents. These assets may include anything from property to computers to cell phones. Asset managers keep records and create reports related to those assets, and they may work alone or as part of an asset management team.
Asset managers also review budgets related to owned property. They may also facilitate repairs and retirement of property. This may involve taking bids and making decisions for the company on the best course of action. These functions require the asset managers to be in contact with companies outside of the business, including vendors, suppliers, and contractors. Asset managers must represent their company in a responsible, business-like manner at all times.
Asset managers work closely with management to ensure the company adheres to budgets and schedules. They may need to travel to building sites or suppliers as needed; outside of travel, they often work in an office environment during regular business hours.
Most asset managers are required to have, at minimum, a bachelor’s degree in business, accounting, or finance. A master’s degree is often preferred. In addition, most employers require several years of experience in the field. They are expected to be proficient in typical office software, especially spreadsheet programs. They are required to be analytical, with outstanding written and verbal communication skills, as well as strictly maintain confidentiality. Asset managers may operate under deadlines at times, so the ability to work proficiently at a fast pace under stressful conditions is also necessary.
Asset Manager Tasks
- Supervise the development of strategies to increase asset returns
- Organize paperwork and processes required to buy, sell, or modify assets.
- Recommend strategies for maximizing the value and returns for assets held by a company.
- Write reports on property asset statistics for senior management.
- Monitor the status of collateral and payments for current loans.