Senior Asset Manager Small Business Lending

Senior Asset Manager Small Business Lending

LISC is one of the country's largest community development organizations, helping forge vibrant, resilient communities across America. LISC works with residents and partners to close gaps in health, wealth, and opportunity so that people and places can thrive. We do this by acting as a conduit for grants, loans and equity and by providing technical assistance and capacity building to locally rooted organizations that carry out the work in communities.

Position Description

Local Initiatives Support Corporation (LISC) is seeking a qualified candidate to fill the position of Senior Asset Manager specializing in Small Business Lending. This position will be part of LISC's Lending Department and will report to the Director of Asset Management as well as work in close coordination with Small Business Lending staff. This position will be responsible for assisting the Director of Asset Management with monitoring, tracking and reporting on LISC's Small Business loan portfolio and contributing to other facets of the Lending Department's work as needed.

The primary duties of the position include :

• Oversee the management of the Small Business loan portfolio, spanning numerous product types and regions and serve as the workout lead for challenged loans.
• Position requires proactive oversight of and direct portfolio management of closed small business loans, including the following :
• Risk rating of loans and preparation of portfolio performance reports for committee review.
• Prepare quarterly loan watch reports and presenting to committee for review.
• Ensure that loan disbursements are communicated to and recorded accurately by LISC and CDC Small Business loan servicing personnel.
• Communicate with borrowers with regards to pending maturity dates, late payments and loan covenant compliance.
• Analyze loan performance against underwriting projections to identify any potential loan repayment problems.
• Identify, prioritize and engage in problem solving with borrowers and offer recommendations when issues arise.
• Review and track insurance certificates for active loans.
• Prepare post-closing amendment requests per LISC guidelines.
• Support the closing of loan amendments and restructurings by reviewing loan documentation to ensure that all deliverables have been provided and that legal documentation is consistent with credit approval.
• Make recommendations to enhance the structure of stressed credits.
• Negotiate workout and restructuring terms with borrowers and guarantors.
• Provide quantitative and qualitative rationale for proposed write-offs and prepare write-off memos.
• Management of the Small Business Asset Manager. Responsibilities include :
• Providing on-going training and advice on credit analysis and portfolio management
• Setting clear expectations and KPIs
• Conducting regular check-ins and providing feedback
• Reviewing the Asset Manager's work including Loan Watch and Portfolio Monitoring reports and providing feedback on structure, consistency and quality
• Work closely with LISC's Small Business loan closer and CDC Small Business on the hand-off of closed loans.
• Ensure that, on a monthly basis, CDC Small Business submits a trial balance, remittance report, and a summary of any transaction adjustments, that LISC's Loan Administration has confirmed receipt of monthly remittances, and that the Small Business Lending Asset Manager has reconciled the trial balance and provided a summary to the Chief Credit Officer, Vice President, Small Business Lending, and Loan Administration.
• Ensure the data in LISC's loan administration system is consistent with loan approval terms and legal documents.
• Perform additional loan monitoring on individual loans and prepare reports on as-needed basis.
• Other duties as assigned

Qualifications

Compensation

LISC provides a competitive salary ($102,000-$127,500) commensurate with experience and excellent benefits.

Our benefits include :

LISC is an equal opportunity employer. LISC 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.

We 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 our business.