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Local Initiatives Support Corporation (LISC) · 1 day ago

Asset Manager

NYC Metro Area

Full-time

Hybrid

Mid, Senior Level

$102K/yr - $123K/yr

5+ years exp

Local Initiatives Support Corporation (LISC) is one of the country’s largest community development organizations, dedicated to helping forge vibrant, resilient communities across America. The Asset Manager will be responsible for managing a loan portfolio, conducting credit assessments, monitoring disbursements, and ensuring the quality of data in LISC’s loan administration system.

AssociationBusiness DevelopmentCommunitiesHealth CareNon Profit

Responsibilities

Manage a loan portfolio, spanning numerous product and project types provided by LISC as part of its community development /lending activity

The position requires proactive management of closed loans including the following:

Conducting credit assessment of loans involving the analysis of financial statements, project performance in comparison to underwriting projections and historical performance, and covenant compliance and preparing loan portfolio performance reports and risk rating assessments for committee

Monitoring disbursements on lines of credit and predevelopment

Effectively manage relationships with portfolio borrowers to ensure the performance of portfolio loans and develop new business opportunities through regular communication and periodic site visits, including communication with regards to pending maturity dates, late payments and loan covenant

Tracking late, delinquent, and maturing loans to ensure that credit issues and loan maturities are addressed in a timely manner; coordinate across the Lending, Credit, Asset Management, Legal, and Loan Administration teams to ensure that all loan documentation and records are accurate and current

Identifying, prioritizing and engaging in problem solving with borrowers and offering recommendations when issues arise; propose and execute on loan workout and restructuring strategies

Evaluating the feasibility of proposed loan modifications and preparing post-closing amendment requests in accordance with LISC underwriting guidelines

Tracking insurance compliance on active loans and requesting and reviewing updated certificates, endorsements, and policies

Preparing write-off memos

Ensure the quality of data in LISC’s loan administration system, including development of policies and procedures for data collection and quality maintenance and oversight of the management and use of data

Perform additional loan monitoring on individual loans and prepare reports on the more complex loans, including loan restructurings, modifications and workouts

Perform ongoing borrower check-ins

Interact with LISC staff to provide accurate and timely information

Some travel is required

Perform additional duties, as required

Qualification

Loan portfolio managementCredit assessmentReal estate financeLoan workoutsMicrosoft ExcelSalesforceAnalytical skillsRelationship managementImpact investingDecision-making skillsTime managementOrganizational skillsAttention to detail

Required

Bachelor's degree from an accredited college or university or relevant requisite work experience

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

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

Strong communication, analytical, decision-making, time management, organizational, follow-up and relationship management skills

Self-starter ability to work independently as well as collaboratively

Solid proficiency in Microsoft Office suite, particularly Microsoft Excel, Salesforce, and loan management systems

Good organizational abilities and attention to detail, including ability to work independently and to manage multiple assignments simultaneously

Commitment to impact investing and LISC's mission and values

Benefits

Medical, Dental, Vision Coverage: Comprehensive health plans for you and your family's well-being

Disability Insurance: Long-term and short-term coverage for peace of mind

Retirement Savings: Secure your future with our 401(k) and 403(b) plans

Generous Holidays: Enjoy ample time off to recharge and celebrate

Vacation, PTO, and Sick Days: Take advantage of flexible time-off policies to maintain work-life balance

Tuition Assistance: Pursue your educational goals with support from our tuition assistance program

Referral Program: Earn rewards for referring qualified candidates to join our team

Professional Development Opportunities: Grow and advance in your career with access to ongoing training and development programs tailored to your goals.