Job Opening – Loan Monitoring Associate

Communities on the margins of opportunity deserve a trusted partner on their journey towards financial growth and stability. As a locally invested, collaborative partner in social justice and financial equity, Community Vision (Community Vision) provides nonprofits, small businesses, and social enterprises with strategic investment and guidance deepening work, scaling impact, and strengthening our communities.

We realize that the impact of discriminatory policy, institutionalized financial neglect, and systemic racism have resulted in a deep sense of distrust felt among communities on the margins of opportunity, including people of color, folks of various abilities, genders and sexualities, and communities with low financial wealth. We believe that these communities must be centered in the work we do. Hence, we strongly encourage applications from people with these identities or who are members of other marginalized communities. Community Visions is an equal opportunity employer; people of all backgrounds are strongly encouraged to apply.

Loan Monitoring Associate

San Francisco, California

Community Vision seeks a highly motivated Loan Monitoring Associate to assist with ongoing loan portfolio monitoring and general asset management; loan renewals, extensions and occasional new loan requests; selected loan closings; and compliance and reporting operations for a highly successful community development financial institution (CDFI). Community Vision currently has a loan portfolio of approximately 100 borrowers totaling over $65 million, and a New Market Tax Credit (NMTC) portfolio of $150 million, covering eighteen projects.

The ideal candidate is someone with a background in commercial loan monitoring or asset management, and is familiar with community development and/or small business lending operations. The candidate must be a self-starter, have the demonstrated ability to accurately and efficiently work on several tasks simultaneously and have superior written and verbal communication skills. Finally, the candidate should enjoy working in an active and expanding nonprofit, and be able to thrive in a friendly, cooperative, and fast-paced environment.

Primary Responsibilities

Loan Monitoring & Asset Management 

  • Communicate effectively with loan officers and loan closers to ensure proper hand off and transition of responsibilities in a timely manner
  • Communicate effectively with borrowers in assigned portfolio and serve as one of the primary points of contact for post-closing monitoring, disbursement and servicing
  • Collect and review quarterly financial statements and reporting documentation to determine financial condition, credit-worthiness and on-going reporting and covenant compliance for assigned borrowers as part of quarterly monitoring and loan loss reserve evaluation
  • Review and process draw requests for revolving lines of credit and other working capital loans, ensuring proper documentation and compliance with loan conditions
  • Prepare renewals for revolving lines of credit, and basic modifications and extensions for all assigned loans
  • In collaboration with the appropriate underwriting team member, underwrite new basic working capital loan requests from assigned borrowers
  • Conduct periodic, post-closing site visits and/or phone check-ins with selected borrowers
  • Work closely with Finance Department to ensure correct accounting for all loans and to address loan servicing issues
  • Effectively track, analyze, communicate, and make initial recommendations to Lending Department management to address loan delinquencies and defaults for assigned borrowers
  • Maintain the loan portfolio management system (TEA) and related databases
  • Maintain working knowledge of loan policies and protocols
  • Ensure accurate, well-organized loan files, maintaining an audit trail of all monitoring documents and materials.

Loan Compliance & Impact Reporting

  • Prepare and maintain Lending Department operations and portfolio reports for internal and external stakeholders
  • Work collaboratively with other departments to manage information, reporting and document preparation for various internal and external needs including quarterly reports to the CDFI Fund, New Markets Tax Credit program compliance, funding requests, grant reports, annual audit, securities permit application and compliance with investor covenants
  • Work collaboratively with other departments on impact reporting and maintaining Lending impact data in Salesforce.

Loan Documentation & Closing

  • Review and process funding disbursement and draw requests for predevelopment and construction loans, revolving lines of credit and other working capital loans, ensuring proper documentation and compliance with loan conditions
  • Collect and review quarterly financial statements and reporting documentation to determine financial condition, credit-worthiness and on-going reporting and covenant compliance for assigned borrowers as part of quarterly monitoring and loan loss reserve evaluation
  • Prepare renewals for revolving lines of credit, and basic modifications and extensions for all assigned loans.In collaboration with the appropriate underwriting team members, underwrite new basic working capital loan requests from assigned borrowers.Conduct periodic, post-closing site visits and/or phone check-ins with selected borrowers
  • Effectively track, analyze, communicate, and make initial recommendations to Lending Department management to address loan delinquencies and defaults
  • Play a leading role on loan workouts
  • Maintain working knowledge of loan policies and protocols
  • Ensure accurate, well-organized loan files, maintaining an audit trail of all monitoring documents and materials

Loan Compliance & Reporting

  • For selected loans, coordinate closing and funding process in conjunction with the other members of the Loan Closing and Monitoring team, Loan Officers, borrowers, outside legal counsel and title officers (as needed), and other related parties
  • Document and review commercial loan transactions, focusing mainly on revolving lines of credit and term working capital loans
  • Anticipate and effectively manage closing problems by identifying and recommending solutions to meet the needs of Community Vision and our borrowers
  • Ensure accurate loan files with respect to closing documents and materials
  • Assist dedicated loan closers on larger, more complex transactions.

Other Duties As Assigned

  • Assist or lead 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

Required Skills & Experience 

  • Bachelor’s degree in a related field (urban planning, economics or finance, etc.) or equivalent experience
  • Minimum of two years of experience in commercial loan monitoring and/or asset management, preferably in the fields of either community development or small business lending
  • Must demonstrate a high level of attention to detail and excellent judgment and decision-making abilities
  • Excellent written and verbal communication and organizational skills
  • Familiarity with financial statement analysis, preferably for nonprofits but also small businesses
  • Database skills (e.g. Salesforce) with a demonstrated proficiency in MS Office Suite
  • Demonstrated ability to consistently multi-task and manage a varied and occasionally intense workload while maintaining a high degree of accuracy
  • Ability to build relationships internally and externally and elicit confidence by demonstrating reliability and commitment to Community Vision’s mission and values
  • Strong team player with the ability to work effectively in a cooperative and diverse environment
  • Enthusiasm, entrepreneurial spirit, and a strong commitment to work in community development

Desired Qualifications, Skills & Experience

  • Experience in loan closing.
  • Understanding of and experience with one of our key areas of affordable housing, nonprofit community facilities, and/or food and enterprise lending.
  • Familiarity with commercial loan documents and basic legal terms.
  • Understanding of and experience with either the New Markets Tax Credit program or small business lending.
  • Language ability in commonly spoken languages (including Spanish, Chinese, Tagalog) is a plus.

Relationships 

Position reports to the Director of Loan Closing and Administration. The position communicates regularly with borrowers and clients; attends and participates in Loan Committee meetings; interacts extensively with the lending team and staff/management in other Community Vision departments; and represents Community Vision at outside events and conferences.

Job Context

Position is pivotal to the success of the Lending and Finance Departments and operates in a collaborative, cooperative, team environment. Workload will vary requiring flexibility with time. Outside and evening meetings are occasionally required.

Hours & Location

  • Full-time position
  • Work hours will be predominantly during regular business hours, although occasional evening or weekend hours will be required. A flexible schedule can be accommodated.
  • Worksite will be based within the offices of Community Vision in San Francisco and/or Oakland, with some local and regional travel for site visits and conferences.

Compensation & Benefits

Starting salary is $68,000-$85,000 depending upon experience, plus an excellent benefits package including health, dental, retirement plan and three weeks’ vacation.

 Email resumé and cover letter to: hr@communityvisionca.org with “Loan Monitoring Associate” in the subject line.

Application Deadline: Open until filled.