Senior Loan Closing Administrator

San Francisco/Oakland

May 2023

WHO WE ARE

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 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.

THE OPPORTUNITY

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 in 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 communications skills in order to interact efficiently and effectively with internal staff, legal counsel and clients.  They will have knowledge of federal and state regulations, loan documentation terms and conditions including Credit agreements, notes, guarantees, and collateral is required.  They must act as a gatekeeper for certain compliance and reporting requirements.

WHAT YOU WILL DO

  • Proactively interface with internal and external parties, including loan originator, underwriter, borrower, closing attorney, title company, investor, accounting, servicing, and asset management personnel to ensure loans are closed in a timely manner.
  • Manage and communicate transaction timelines to internal and external partners to verify all appropriate deadlines are being met.
  • Perform 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 accuracy of terms and collateral information.
  • Responsible for preparing loan closing packages for review and delivery to investors.
  • Transmit loan information and documentation to servicing, asset management, finance, and other departments.
  • Review loan settlement statements prepared by the escrow agent for accuracy.
  • Update internal systems to ensure that appropriate internal reporting data reflects current information for the transaction.
  • Keep management, loan officers, borrower, and other parties informed of potential problems or delays and make recommendations.
  • Work on projects and team initiatives as requested.
  • Communicate with Loan Officers to ensure proper hand off and transition of responsibilities in a timely manner.
  • Communicate with borrowers and serve as one of the primary points of contact for loan closings and disbursements.
  • Coordinate 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.
  • Document and review commercial loan transactions, including real estate, construction and small business loans, as well as revolving lines of credit, term and working capital loans.
  • Assist in the preparation and review of materials related to New Markets Tax Credit financings and ensure closing and funding in a timely manner.
  • Review title reports, escrow instructions, surveys, appraisals, environmental reports, property condition reports, insurance and other documents, ensuring compliance with loan closing requirements and loan policies.
  • Manage the closing requirements by identifying and recommending solutions to meet the needs of Community Vision and our borrowers.
  • Ensure accurate, well-organized electronic loan files through loan closing and disbursement, maintaining an audit trail of all closing and monitoring documents and materials.
  • Process funding disbursements and draw requests for line of credit, pre-development and construction loans, ensuring proper documentation and compliance with loan conditions.
  • Maintain a working knowledge of loan policies and protocols as implemented and/or updated.
  • Maintain the loan portfolio management system (TEA) and related databases, through disbursement, including updates to the Salesforce database.
  • Collaborate with department colleagues to support monitoring and compliance assignments as called for by workflow.
  • 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.
  • Work collaboratively with other departments to manage information, reporting and document preparation for various internal and external needs, funding requests, and compliance with investor covenants.

WHO WE ARE LOOKING FOR

Ideal Qualifications

  • 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 but 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

MORE ABOUT THE POSITION

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 remotely until further notice.

TO APPLY

Send resume and cover letter via email to theo@thenorfusfirm.com. Subject line should read: Senior Loan Closing Administrator. Cover letters should discuss your interest in the position and in working at Community Vision. 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.