Senior Portfolio Manager

Background

NeighborWorks Capital is a national non-profit, certified Community Development Financial Institution (CDFI) serving NeighborWorks America network organizations, nearly 250 strong, capable non-profit housing and community development organizations in every state, District of Columbia, and Puerto Rico. These organizations provide communities with affordable housing, financial counseling, training, and resident engagement in the areas of housing, health, employment, and education.

NeighborWorks Capital’s current capitalization is nearly $200 million with nearly $100 million in loans outstanding nationwide. Since its inception, NeighborWorks Capital has deployed over $600 million in loan capital to support the NeighborWorks network. S&P Global Ratings has assigned NeighborWorks Capital an issuer credit rating of “A+/Positive,” citing strong capital adequacy, profitability, liquidity, and financial management. NeighborWorks Capital has been Aeris-rated since 2011 and currently holds a four-star Impact Management rating as well as an AA Financial Strength and Performance Rating, indicating robust financial capability and risk management.

NeighborWorks Capital is an Equal Opportunity Employer. It is NeighborWorks Capital’s commitment to treat all its employees and candidates for employment with dignity and respect and to provide a workplace that is free from discrimination, whether that discrimination is based on race, color, religion, sex, national origin, disability, political affiliation, marital status, membership in an employee organization, age, sexual orientation, gender identity, pregnancy, or other non-merit factors.

Summary

The Senior Portfolio Manager is responsible for independently managing NeighborWorks Capital’s active portfolio of loans from boarding to repayment, including complex and higher risk loans. This includes loan monitoring, draw processing, completing annual reviews, and analyzing and processing requests for extensions and modifications. Key to this role is the proactive identification of areas for risk and implementation of mitigation strategies, recommending appropriate updates to risk rating accordingly.

The Senior Portfolio Manager will analyze issues and bring proposed solutions to the Director of Portfolio Management for discussion. They should demonstrate the ability to comprehend the complex interplay of issues in problem loans, providing follow-up on individual loan improvement plans and assessing progress. In providing leadership over the monitoring of the Permanent loan portfolio, they will proactively manage issues by analyzing rent rolls, property financials, and budgets. The role involves development of procedures to monitor, analyze, and report on performance of operating portfolio, using the details and metrics collected to summarize trends and takeaways.

The Senior Portfolio Manager must demonstrate the knowledge and ability to assess the organizational strength of NeighborWorks Capital’s Borrowers. This is crucial to the management of NeighborWorks Capital’s portfolio as much of our lending relies on organizational capacity. The Senior Portfolio Manager should be experienced in the analysis of organizational financials, real estate development, and operations and be able to communicate effectively on these topics with our customers.

Through engaging with borrowers, the Senior Portfolio Manager stays current on project progress, needs/expectations, and potential issues. As such, the position requires strong communication skills and emphasis on customer service. The position also collaborates closely with NeighborWorks Capital’s Lending and Finance teams, maintaining systems containing information related to portfolio.

Reports to: Director of Portfolio Management

Location: This position can be remote, but requires willingness to travel to Silver Spring, MD on occasion for staff meetings and events

Responsibilities

Asset Management

• Analyze quarterly financial reports and project status updates from borrowers, proactively identifying early warning signs of trouble
• Perform annual reviews on each loan in the portfolio and make risk rating recommendations
• Maintain database of required monitoring information due from borrowers, loan specifics, payment status, and risk analysis
• Interface with lead lenders or loan participants as appropriate
• Review and respond to loan modification and extension requests, complete and submit memo to Director for approval, and complete necessary documentation to be signed by borrower prior to the maturity date. Responsible for more complicated loans that are on watch list
• Oversee and compile all disbursement requests, including construction draws and revolving lines of credit, obtaining and independently reviewing all required documentation

Loan Monitoring and Analysis

• Maintain forward looking approach to potential risks to the portfolio, including concentration, exposures, and market risks
• Monitor compliance with policies covering risk management
• Monitor payment of real estate taxes, insurance and other escrows
• Identify any problem loans and propose resolution strategies to Director
• Implement approved workout strategies when necessary
• Pursue collection efforts when necessary
• Visit customers as needed and review third-party site inspection and follow up as necessary
• Input new project loan information into Nortridge Loan System (NLS) and Salesforce

Portfolio and Impact Reporting

• Provide and present reports at regularly scheduled meetings to Senior Leadership team and Loan Committees on credit quality and loan issues
• Update reports for funders or investors
• Assist with historical lending and impact reporting for internal and external partners

General

• Work cooperatively and constructively
• Provide leadership within NeighborWorks Capital’s staff
• Resolve conflicts through negotiation, effectively balancing borrower needs with risk mitigation for NeighborWorks Capital
• Work effectively in a team environment and actively participate in joint problem solving
• Other duties as assigned

Requirements

Required/Preferred Education and Qualifications:

• Undergraduate degree in business, finance, economics or accounting, advanced degree in relevant field (finance, planning, etc.) is a plus
• At least 5 years of demonstrated relevant portfolio management experience, preferably in multi-family housing and/or commercial real estate, or 7 years in a related field
• Supervisory experience preferred
• Occasional travel within U.S. required (10-15%), including to Maryland headquarters
• Fluent in English
• Possess valid U.S. driver’s license and capable of driving for periodic local site visits

Required/Preferred Skills:

• Knowledge and experience with multifamily real estate finance and community development real estate lending, with an emphasis on affordable housing lending
• Proficiency in financial statements of nonprofit organizations and their real estate operations
• Knowledge of business and loan documents, including contracts, mortgages, appraisals, and collateral
• Knowledge of the Low Income Housing Tax Credit program and other federal and state subsidy programs for housing
• Proficient in Microsoft Office software programs, use of e-mail and internet

Compensation and Benefits

$110,000 to $120,000 depending on experience plus excellent employer-paid benefits package that includes medical, dental, vision, 12 paid holidays, generous PTO & sick leave, life insurance, disability, 6% contribution of eligible salary to 401(k), transportation subsidy, matching contribution plan to eligible nonprofits, and bonus potential.

How to Apply

Please submit your resume and cover letter to [email protected] using the following file naming format:

• [Your Name] – Resume
• [Your Name] – Cover Letter

Using this format helps ensure your application is processed efficiently.