Address
Form of workA core function of LISC is its operation as a loan fund. LISC provides various loan products to a wide array of project types. All loans are subject to oversight by LISC's Lending Department.
Local Initiatives Support Corporation (LISC) is seeking qualified candidates to fill the position of Asset Manager to manage and monitor the performance of a Loan Portfolio. This position will be part of LISC's Lending Department and will report to LISC's Director of Asset Management and work in close coordination with lending staff in the field as well as other members of LISC's Lending and Legal departments. The Asset Manager will be responsible for assisting the Director of Asset Management with loan monitoring, tracking and reporting on LISC's Loan Portfolio including LIHTC and/or NMTC transactions, managing workouts and contributing to other facets of the Lending Department's work as needed.
The primary duties of the position include:
- Manage a Loan Portfolio, spanning numerous product and project types provided by LISC as part of its community development
- Position requires proactive management of closed loans including the following:
- Risk Rating loan assets and preparing portfolio performance reports for committee
- Writing quarterly loan watch reports and presenting them to committee for
- Monitoring disbursements on Lines of Credit and Pre-Development
- Communicating with borrowers regarding pending maturity dates, late payments and other loan covenant
- Analyze loan performance against underwriting projections to identify any potential loan repayment
- Identify, prioritize, and engage in problem solving with borrowers and offer recommendations when issues
- Review and track insurance certificates for active loans.
- Prepare post-closing amendments per LISC
- Prepare write off memos for
- Ensure the quality of data in LISC's loan administration system, including development of policies and procedures for data collection and quality maintenance, inputting and maintenance of data, and oversight of the management and use of data.
- Perform additional loan monitoring on individual loans and prepare reports on an as-needed basis.
- Interact with LISC staff to provide accurate and timely information.
- Some travel is required.
- Perform additional duties, as required.
Qualifications
Applicants should have the following qualifications:
- Bachelor's degree from an accredited college or university preferred.
- Minimum three (3) years real estate experience preferably working with LIHTC and/or NMTC or comparable experience in commercial real estate, banking/finance or urban planning.
- Candidate must have working knowledge of real estate, finance and/or operations.
- Experience with loan asset management, acquisitions, credit, underwriting in community development.
- Strong communication, analytical, decision-making, time management, organizational, follow-up and relationship management skills.
- Self-starter ability to work independently as well as collaboratively.
- Proficiency in Microsoft Office suite, particularly Microsoft Excel.
Compensation: LISC offers a competitive salary ($90-115K; salary commensurate with relevant work experience and location) and excellent fringe benefits.
