Portfolio Manager

Company: True Access Capital

Location: Wilmington, DE

Job Function: Lending/Loan Operations


Background

Established in 1992, True Access Capital (TAC) is a not-for-profit, federally certified, Community Development Financial Institution (CDFI) that supports small businesses and community development projects, with a special emphasis in Black, Indigenous, People of Color (BIPOC), low-income and other underserved communities. TAC’s mission is building a thriving community by empowering a diverse base of entrepreneurs and businesses through access to capital, education, advocacy and opportunity. TAC services the State of Delaware and southeastern Pennsylvania.

Summary

Responsible for managing and maintaining TAC’s loan portfolio records and systems, as well as providing loan portfolio financial support and grant/contract compliance support to other departments. Works closely with the Director of Lending and the lending team to ensure all loan closing conditions are met, recorded, and that all loans are appropriately monitored until repaid fully. Works closely with Finance Manager to ensure loan portfolio records match financial accounting records. Works closely with the President to ensure all grant/contract program requirements are monitored, reported and compliant.

This position will also play a critical support role in designing and implementing reporting and technology upgrades to the existing Loan Portfolio Management System, as well as automating loan administration processes and practices. Responsibilities also include assistance with the preparation of investor/funder/grantor, and regulatory reports.

 

Responsibilities

  • Manage all aspects of Loan Administration process, including but not limited to closed loan data entry, processing loan payments and distributions, processing loan modifications, preparing loan payoffs, as well as monitoring compliance of borrower’s reporting and repayments.
  • Responsible for the loan documentation and loan closing process for all TAC loans.
    • Assure that all loans are properly closed and documented in consultation with appropriate staff members and/or legal counsel.
    • Manage the loan disbursement process for all loans.
  • Responsible for the on-boarding of new loans, and modifications to existing loans, into the loan portfolio management system (Portfol).
  • Ensure timely submission of inbound reporting from borrowers and outbound reporting to all required internal and external parties.
  • Perform general maintenance on loan portfolio system software as needed.
  • Conduct post-loan closing file reviews, ensuring basic requirements of loan purpose, term, collateral, and qualifications fit the various federal and state lending program criteria.
  • Work with Director of Lending to ensure documentation for all TAC lending programs are compliant with both internal and external requirements.
  • Responsible for borrower compliance with all insurance, collateral, and security documentation requirements.
  • Manage and disseminate all regular portfolio reporting, delinquency reports, borrower risk ratings, and status reports.
  • Work closely with Finance Manager to reconcile loan portfolio to accounting records.
  • Assist senior management with the preparation of investor/funder reports, including but not limited to the CDFI Fund, Small Business Administration, State of Delaware, and partner organizations.
  • Responsible for helping to enter, maintain, and report out on lending/training client database information.
  • Compile information from grant/contract/lending program evaluation databases
  • Assist senior management on other projects or deliverables, as needed.

Requirements

The ideal candidate will possess a demonstrated attention to detail and a strong ability to manage multiple tasks effectively and efficiently under minimal supervision.  He/she works well in teams and can prioritize activities under a matrixed reporting role. He/she will serve as a broad departmental resource to the Director of Lending, President & CEO, and the Finance Manager, as needed. He/she must be committed to meeting the needs of undeserved markets and have a passion for providing services to a diverse population.

Qualifications:

  • Required: Bachelor’s Degree or 5 years direct related work experience.
  • Required: 3-5 years of experience in loan operations and/or mortgage lending in financial institutions.
  • Required: Solid knowledge of basic accounting practices with an ability to understand financial statements and loan documentation
  • Required: Highly proficient with Microsoft products & other technology software.
  • Required: Strong analytical and organizational skills with proven ability to work independently under minimal supervision.
  • Required: Superior written and verbal communication skills.
  • Required: Excellent interpersonal skills and ability to work with diverse constituents.
  • Preferred: Experience in nonprofit, mission-based or small office environment.
  • Preferred: Experience with Portfol/Nortridge/TEA portfolio management system.
  • Helpful: technology project management experience.
  • Helpful: Experience in community development, federal, state lending programs.
  • Job involves normal physical requirements for an office position. EOE/ADA Compliant.
  • Minimal travel required (less than 5% of time).

Compensation and Benefits

Compensation is competitive and commensurate with experience. Benefits include vacation, paid holidays, health insurance, and retirement plan.

How to Apply

Interested parties should email their resume and cover letter to: lomerino@trueaccesscapital.org

TAC is an equal opportunity employer and the board and staff value diversity in all aspects of employment. Women, People of Color, and LGBTQ candidates are encouraged to apply.