Loan Portfolio Manager

3 weeks ago

San Francisco, California, United States Global Impact Investing Network Full time

Job Summary

The Loan Portfolio Manager will be responsible for actively managing a significant portion of RIIF's growing portfolio of loans from closing through repayment. This role will involve a high level of engagement with RIIF borrowers, with a strong customer service focus.

The successful candidate will have prior portfolio management experience with small businesses and/or non-profits, including experience working with troubled loans that require modifications, extensions, and/or workouts. They will be able to spread and interpret non-profit and for-profit financial statements and calculate key ratios.

Key Responsibilities

  • Handle post-closing process, including collaborating with the learning & evidence team to input reporting requirements and with the accounting team to set up repayments.
  • Conduct monthly or quarterly calls with each borrower, depending on risk profile, to review performance, identify risks and TA needs, and discuss project status updates.
  • Proactively monitor portfolio performance on an ongoing basis, aggregating key metrics and ratios that roll up to quarterly and annual performance dashboard.
  • Prepare annual review memos for each assigned loan to assess overall credit quality, including performance against original underwriting expectations.
  • Consult with originating loan officer as needed for context as to original loan structure and assumptions.
  • Conduct annual site visits to borrowers, meet with senior leadership, and see SEs in action; incorporate findings into annual review memo.
  • Identify new ways to support the dynamic needs of the portfolio.
  • Work directly with borrowers to assess the necessity and feasibility of loan extensions or modifications, which may be required based on financial condition or performance.
  • Proactively flag borrower financial health concerns early and often, noting deteriorating conditions as well as related ideas for risk mitigation to the Senior Director of Impact Lending.
  • When working on loan modifications and re-structures, do a deep dive into borrower financials to get to the crux of the issue – push on borrower assumptions, approach requests conservatively with a focus on increasing the likelihood of borrower repayment over time.
  • Investigate covenant defaults, late reporting, and/or non-payment with a focus on compliance and collection. Identify causes and create an action plan with borrower.
  • Work closely with impact lending team, accounting team, and legal counsel in cases of non-payment or troubled assets, to determine optimal strategy and related documentation required.
  • Compliance, Data Collection & Reporting: Ensure timely and correct loan reporting and data collection, including financial statements, impact reporting, and other deal-specific reporting as required under the loan documents via RIIF's salesforce system.
  • Provide portfolio performance data to provide for reports to internal and external audiences, such as the RIIF board of directors, RIIF & REDF executive teams, and RIIF current or potential funders and investors.
  • Identify and structure new loan origination opportunities within existing portfolio.
  • Draft loan preview memos and full underwriting memos. Manage all aspects of due diligence.
  • Spread borrower financials and provide historical analysis of strengths and weaknesses, in order to assess capacity for new debt. Focus on the 'why' behind the #s.
  • Analyze budgets, test assumptions behind cash flow projections, and create appropriate deal-specific sensitizations and scenarios that stress test debt service capacity.
  • Perform analysis of borrower operations, programs, management, and evaluate historical and projected social impact.
  • Perform thorough risk assessment, using both organizational and environmental factors.
  • Identify potential risks/mitigants. Assess likelihood of repayment sources.
  • Pursue guarantees and/or participations via the State Small Business Credit Initiative (SSBCI) program.
  • Technical Assistance: Identify TA needs within loan portfolio; create project scopes in collaboration with REDF's capacity building team and help build a bench of specialized providers to support RIIF portfolio.
  • Evaluate effectiveness of TA longitudinally over time, within the assigned portfolio loans. Collaborate with RIIF team to discuss how to refine our TA offerings over time.
  • Operations & technology: Collaborate closely with impact lending team in the development, launch and execution of portfolio management innovations, such as new loan servicing or financial spreading systems.
  • Identify operational inefficiencies and propose potential solutions (process improvements, new tools, etc.) as the portfolio grows.

Requirements

  • Prior portfolio management experience with small businesses and/or non-profits, including experience working with troubled loans that require modifications, extensions, and/or workouts.
  • 3+ years relevant work experience in small business or community development finance.
  • Familiarity with standard loan documentation (loan agreements, notes, guarantees, collateral agreements, reservation of rights letters, amendments, etc.).
  • Strong financial analysis skills: ability to spread and interpret non-profit and for-profit financial statements and calculate key ratios.
  • Strong communication and interpersonal skills; ability to find a balance between building trust with borrowers and holding them accountable for maintaining covenants and repayment.
  • Proven ability to prepare clear, accurate, well-organized memos that synthesize and communicate the story behind the data. Ability to fuse quantitative and qualitative information to drive decision-making and risk assessment.
  • Prior experience underwriting loans for non-profits and/or small businesses.
  • Knowledge of and strong interest in REDF's commitment to diversity, equity and inclusion, and bringing a DEI lens into the credit risk assessment process.
  • Ability to build and maintain systems for organizing work to manage several priorities.
  • Well-versed in Microsoft Office Suite; in particular Excel.
  • Proficiency using Salesforce as CRM system and data analytics tool for analysis and reporting.
  • Able to conduct 10+ site visits per year.
  • Knowledge of or experience in the Community Development Financial Institutions (CDFI) industry.
  • Formal credit training.
  • Experience implementing process improvements within the portfolio management function to help scale and create efficiencies as the portfolio grows.

What We Offer

  • 13 paid holidays, Summer Fridays, and ample paid time off.
  • 16 weeks fully paid parental leave for birth parents and 8 weeks for non-birth parents.
  • A generous dollar-for-dollar retirement plan match up to 4% of your base compensation.
  • Opportunities to learn continuously by building your skills and broadening your perspectives at conferences, workshops, and more.
  • Flexible working schedules, support for big life events, and home office equipment for an ergonomic working space.

Position Location and Pay Range

San Francisco or Los Angeles, California, preferred but open to remote if based in the USA. The San Francisco and Los Angeles salary range for this position is $92,000 - $120,000. The range will be adjusted according to the candidate's location.

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