Senior Asset Manager – Lending

Overview

The organization is seeking qualified candidates for the Senior Asset Manager position within the Lending Department. This role reports to the Director of Asset Management and works closely with members of the Lending and Legal departments. Responsibilities include loan monitoring, tracking, and reporting for the organization’s loan portfolio, including LIHTC and/or NMTC transactions, as well as managing workouts and contributing to other lending team activities as needed.

Responsibilities

• Manage a loan portfolio covering numerous product and project types supported through the organization’s community development/lending activity.
• Proactively manage closed loans, including:
  • Conducting credit assessment by analyzing financial statements, project performance versus underwriting projections and historical performance, covenant compliance, and preparing loan portfolio performance reports and risk rating assessments for committee.
  • Monitoring disbursements on lines of credit and predevelopment.
  • Managing relationships with portfolio borrowers to support loan performance and develop new business opportunities through regular communication and periodic site visits, including communication regarding pending maturity dates, late payments, and loan covenant status.
  • Tracking late, delinquent, and maturing loans to ensure credit issues and maturities are addressed in a timely manner; coordinating across Lending, Credit, Asset Management, Legal, and Loan Administration teams to keep loan documentation and records accurate and current.
  • Identifying, prioritizing, and engaging in problem-solving with borrowers; recommending actions when issues arise; proposing and executing loan workout and restructuring strategies.
  • Evaluating the feasibility of proposed loan modifications and preparing post-closing amendment requests in accordance with underwriting guidelines.
  • Tracking insurance compliance on active loans and requesting and reviewing updated certificates, endorsements, and policies.
  • Preparing write-off memos.
• Ensure data quality in the loan administration system, including development of policies and procedures for data collection and quality maintenance/oversight.
• Perform additional loan monitoring on individual loans and prepare reports on more complex loans, including loan restructurings, modifications, and workouts.
• Conduct ongoing borrower check-ins.
• Interact with organization staff to provide accurate and timely information.
• Travel as required.
• Perform other duties as required.

Requirements

• Bachelor’s degree from an accredited college or university.
• Experience with loan asset portfolio management, acquisitions, credit, and underwriting in community development.
• Minimum five (5) years’ real estate experience with working knowledge of real estate finance and/or operations.
• Experience managing and negotiating loan workouts, restructurings, and real estate owned.
• Strong communication, analytical, decision-making, time management, organizational, follow-up, and relationship management skills.
• Ability to work independently and collaboratively.
• Solid proficiency in the Microsoft Office suite, particularly Microsoft Excel, Salesforce, and loan management systems.
• Strong organizational skills and attention to detail, including the ability to manage multiple assignments simultaneously.
• Commitment to impact investing and the organization’s mission and values.

Preferred Qualifications

• Lending experience in at least one of the following market sectors is a plus: affordable rental and for-sale housing, charter schools, community health centers, small business, and commercial development.
• Preferably combined with knowledge of the Historic Tax Credit, Low Income Housing Tax Credit and/or New Markets Tax Credit programs.

Compensation & Benefits

• Competitive salary: $102,000-$127,000.
• Actual salaries may be based on several factors including, but not limited to, a candidate’s skill set, experience, education, work location, and other qualifications.

Benefits include:

• Medical, dental, and vision coverage
• Disability insurance (long-term and short-term)
• Retirement savings plans (401(k) and 403(b))
• Generous holidays
• Vacation, PTO, and sick days
• Tuition assistance
• Referral program
• Professional development opportunities

Equal Opportunity Statement

The organization is an equal opportunity employer and does not discriminate in employment on account of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, lactation and related medical conditions), gender identity or expression (including transgender status), sexual orientation, marital status, military status or veteran status, unfavorable discharge from military service, physical or mental disability, protected medical condition as defined by applicable state or local law, genetic information, or any other characteristic protected by applicable federal, state, or local laws and ordinances.

The organization will endeavor to make a reasonable accommodation to the known physical or mental limitations of a qualified applicant with a disability unless the accommodation would impose an undue hardship on the operation of its business.