Senior Loan Closing Administrator

Company: Community Vision Capital & Consulting

Locations: San Francisco, CA; Oakland, CA

Job Function: Lending/Loan Operations


Background

Communities on the margins of opportunity deserve a trusted partner on their journey toward financial growth and stability. As a locally invested, collaborative partner in social justice and financial equity, Community Vision provides nonprofits, small businesses, and social enterprises with strategic investment and guidance, to deepen work, scale impact, and strengthen our communities.

We know that supporting community-owned and community-governed projects creates shared prosperity and builds collective, and self-directed, economic and political power. This position will put you at the forefront of exciting organizational growth and the re-envisioning of how we carry out our work; creating greater efficiency internally and deeper impact externally.

Community Vision is dedicated to anti-racist practices and to building an anti-racist organization. This includes treating colleagues with respect, supporting the vision of the organization, and acting as ambassadors of our values.

Summary

The Senior Loan Closing Administrator is responsible for ensuring loans with complex loan structures or documentation requirements are closed and documented in accordance with the credit approval.  This staff member is responsible for accurately logging the loan to the loan accounting system, assisting the Loan Closers in performing appropriate due diligence tasks, reviewing operational risk components, and ensuring conditions precedent are met prior to closing or funding a loan.

The Senior Loan Closing Administrator must possess strong verbal and written communication skills in order to interact efficiently and effectively with internal staff, legal counsel, and clients.  They will have knowledge of federal and state regulations, and loan documentation terms and conditions including Credit agreements, notes, guarantees, and collateral are required.  You must act as a gatekeeper for certain compliance and reporting requirements.

Responsibilities

  • Interfaces with internal and external parties, including loan originator, underwriter, borrower, closing attorney, title company, investor, accounting, servicing, and asset management personnel proactively to ensure loans are closed timely
  • manages and communicate transaction timelines to internal and external partners to verify all appropriate deadlines are being met.
  • Performs pre-and post-closing functions including managing closing checklists to ensure that closing counsel has received all required documents to review and close the loan
  • Responsible for review of draft loan documentation, legal descriptions, preliminary title reports, and insurance documentation to verify the accuracy of terms and collateral information.
  • Responsible for preparing loan closing packages for review and delivery to investors.
  • Transmits loan information and documentation to servicing, asset management, finance, and other departments.
  • Review loan settlement statements prepared by the escrow agent for accuracy.
  • Updates internal systems to ensure that appropriate internal reporting data reflects current information for the transaction.
  • Keeps management, loan officers, borrowers, and other parties informed of potential problems or delays and makes recommendations.
  • Work on projects and team initiatives as requested
  • Communicate with Loan Officers to ensure proper handoff and transition of responsibilities in a timely manner
  • Communicates with Borrowers and serves as one of the primary points of contact for loan closings and disbursements
  • Coordinates the closing and funding process in conjunction with the Director of Lending, Loan Officers, Loan Administrators, Borrowers, outside Legal Counsel, Title Officers, and other related parties
  • Documents and reviews commercial loan transactions, including real estate, construction, and small business loans, as well as revolving lines of credit, term and working capital loans
  • Assists in the preparation and review of materials related to New Markets Tax Credit financings, and ensures closing and funding in a timely manner
  • Reviews title reports, escrow instructions, surveys, appraisals, environmental reports, property condition reports, insurance, and other documents, ensuring compliance with loan closing requirements and loan policies
  • Manages the closing requirements by identifying and recommending solutions to meet the needs of Community Vision and our Borrowers
  • Ensures accurate, well-organized electronic loan files through loan closing and disbursement, maintaining an audit trail of all closing and monitoring documents and materials
  • Processes funding disbursements and draws requests for line of credit, pre-development, and construction loans, ensuring proper documentation and compliance with loan conditions
  • Maintains a working knowledge of loan policies and protocols as implemented and/or updated
  • Maintains the loan portfolio management system (TEA) and related databases, through disbursement, including updates to the Salesforce database
  • Collaborates with department colleagues to support monitoring and compliance assignments as called for by workflow
  • Assists or leads ad-hoc projects as assigned that may include industry research, product development, operational efficiency, compliance and reporting systems protocol, social impact tracking development, funding applications or policy analysis
  • Works collaboratively with other departments to manage information, reporting, and document preparation for various internal and external needs, funding requests, and compliance with investor covenants

Requirements

  • 6+ years of experience in urban planning, economics or finance, etc.
  • Experience in documenting commercial loans and/or asset management, preferably in the fields of either community development or small business lending
  • Experience with New Markets Tax Credit program and/or small business lending desired
  • Understanding of and experience with one of our key areas of affordable housing, nonprofit community facilities, and/or food and enterprise lending desired
  • Database skills (e.g. Salesforce) with a demonstrated proficiency in MS Office and Google Suites
  • Ability to build relationships internally and externally and elicit confidence by demonstrating reliability and commitment to Community Vision’s mission and values.
  • Knowledge of and experience working with nonprofit community-based organizations is desired (not required)
  • Demonstrated ability to consistently multi-task and manage a varied and occasionally intense workload while maintaining a high degree of accuracy
  • Experience in post-closing monitoring is a plus
  • A high level of attention to detail and excellent judgment and decision-making abilities
  • Excellent written and verbal communication and organizational skills

Compensation and Benefits

The Senior Loan Closing Administrator is a full-time exempt position. This position reports to the Director of Lending. The salary for this position is between $100,000 – $125,000 annually, depending on experience. Benefits include 100% health insurance premium coverage for employees and a contribution towards dependent coverage, dental insurance, long-term disability and life insurance, transportation and cell phone subsidies, employer contributions towards retirement savings, three weeks’ vacation, and a commitment to work/life balance. Occasional evenings and out-of-area travel may be necessary. The position involves regular computer and telephone use plus some minimal lifting. The position can be based at either of Community Vision’s offices in San Francisco or Oakland. All staff are working hybrid until further notice.

How to Apply

Send resume and cover letter via email to hr@communityvisionca.org. The subject line should read: Senior Loan Closing Administrator. Cover letters should discuss your interest in the position and in working at Community Vision. The position will remain open until filled.

For more information on our programs and services, please visit our website at: communityvisionca.org.

Community Vision is an equal-opportunity employer and is committed to providing applicants and employees with a diverse, equitable, and inclusive environment free of discrimination and harassment. All employment decisions at Community Vision are based on business needs, job requirements, and individual qualifications, without regard to age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), sexual orientation, or any other status protected by the laws or regulations where we operate. Community Vision will not tolerate discrimination or harassment based on any of these characteristics and encourages applicants with these characteristics to apply.