Company: Local Initiatives Support Corporation
Location: New York, NY
Job Function: Fundraising
What We Do
With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families.
Strategies We Pursue
- Equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities.
- Invest in businesses, housing and other community infrastructure to catalyze economic, health, safety and educational mobility for individuals and communities.
- Strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places.
- Develop leadership and the capacity of partners to advance our work together.
- Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.
Since 1979, LISC and its affiliates have invested approximately $29.7 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment, and other projects that help to revitalize and stabilize underinvested communities. Headquartered in New York City, LISC’s reach spans the country from East coast to West coast in 38 markets with offices extending from Buffalo to San Francisco and in 2,400 rural counties across 49 states and Puerto Rico. Visit us at www.lisc.org
A 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.
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 and Benefits
LISC offers a competitive salary ($82,000- $102,000; salary commensurate with relevant work experience and location) and excellent fringe benefits.
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.
LISC IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE
How to Apply
To apply submit your application using this LINK