Portfolio and Closing Manager
Company: Impact Loan Fund
Location: Philadelphia, PA
Job Function: Financial Services
Background
In 2001, Impact Loan Fund was launched as a CDFI to offer loans to business-owners around in Philadelphia, with a focus on the Greater Kensington neighborhood. We are dedicated to delivering responsible and affordable lending to help attract businesses to our target area, support area redevelopment, and finance existing business growth to create jobs for neighborhood residents.
Summary
We are seeking a dedicated and experienced Portfolio and Closing Manager to oversee the quality of our loan portfolio and support the business loan underwriting and closing process. This role is crucial in maintaining the health of our loan portfolio and fostering strong relationships with our borrowers.
Responsibilities
– **Portfolio Management:**
– Action-oriented in communicating with our borrowers and monitoring the performance of our loan portfolio to ensure timely payments.
– Coordinate with delinquent borrowers to design and agree on a workout plan and implement plan to bring loans current.
– **Loan Closing:**
-Collaborate with relationship manager to prepare loan documents for loan closing and with loan servicer on entering data into loan management system accurately.
-Review final settlement statement for accuracy and compliance, including the verification of equity contribution, funds to draw down, and payoff of debt (if applicable).
-Follow up with title company or closing/escrow agent to verify settlement of loan, disbursement of funds and advise of any problems or concerns.
– **Relationship Management:**
– Foster positive relationships with our borrowers to encourage business growth and success.
– Act as the primary point of contact for borrowers regarding loan compliance and performance.
– **Compliance Oversight:**
– Ensure borrowers understand and adhere to the covenants outlined in their loan agreements.
– Conduct periodic compliance checks and site visits to verify adherence to loan terms.
– Provide guidance and support to borrowers on maintaining compliance.
– **Underwriting Support:**
– Assist in the underwriting process for new loan applications.
– Evaluate borrower financial statements, credit report, and other relevant documents.
– Assist in preparation of the credit memo for loan committee to review and approve.
Requirements
– Bachelor’s degree in finance, business administration, or a related field.
– Minimum of 3-5 years of experience in small business lending, loan portfolio management, compliance, or a related field.
– Strong understanding of loan underwriting and credit analysis.
– Excellent communication and interpersonal skills, with a focus on customer service.
– Bilingual in English and Spanish.
– Knowledge of community development financial institutions (CDFIs) and experience working with small businesses is a plus.
Skills:
– Strong analytical and problem-solving skills.
– Action-oriented and detail-oriented with a high level of accuracy.
– Ability to work independently and manage multiple tasks effectively.
– Proficiency in MS Office Suite and loan management software.
Compensation and Benefits
– Salary commensurate with skills and experience and will be in the range of $65,000 up to $85,000.
– Health Insurance and PTO benefits
– Opportunity to make a meaningful impact in the Philadelphia community.
– Training, professional development and growth opportunities.
How to Apply
Send resumes and brief cover letter to Art Gimenez, Director of Lending and Programs, at [email protected]