Summary
Description
Senior Asset Manager-REMOTE
ABOUT THE ORGANIZATION
Founded in 1971, the Housing Assistance Council (HAC) is a national nonprofit and a certified community development financial institution dedicated to helping local rural organizations build affordable homes by providing below-market financing, technical assistance, training, research, and information services. HAC’s mission is to improve housing conditions for the rural poor, with an emphasis on the poorest of the poor in the most rural places, particularly regions and populations with high needs: Native American communities, the Mississippi Delta, farmworkers, the southwest border colonias, and Appalachia.
HAC’s loan fund provides capital for development and preservation of affordable housing in rural communities, in service to HAC’s mission. HAC lends to both profit and non-profit developers for acquisition of land and buildings, predevelopment expenses, construction, and some permanent financing for operating rental properties.
POSITION SUMMARY
The Senior Asset Manager is responsible for overseeing HAC’s growing portfolio of loans including all aspects of loan servicing and monitoring from closing through repayment. The individual provides oversight and supervision to a team that is responsible for loan servicing, monitoring, tracking, and reporting activities. The Senior Asset Manager leads loan workouts and HAC real estate owned disposition. The Senior Asset Manager collaborates with the other loan fund team members, including the closing, business development, and underwriting teams to deliver good customer service to HAC’s borrowers and investors.
PRIMARY RESPONSIBILITIES
Duties include the following:
- Manage the Asset Management team, including three direct reports, assigning loans for monitoring, providing oversight and review of team’s work, coordinating staff professional development and training opportunities, and conducting annual staff performance evaluations.
- Monitor a growing loan portfolio, currently approximately 175 loans.
- Manage the loan servicing processes including generating bills, posting loan payments, and other transactions; Maintain the accuracy of all information within the loan portfolio database, including terms and conditions, collateral information, current contact information, and other documentation information, delegating specific activities to team members.
- Collect and review progress and financial reports from borrowers. Analyze loan performance against underwriting projections and identify any potential loan repayment problems
- Identify and monitor loan watch and troubled and delinquent loans, loans on non-accrual to minimize losses and maximize loan repayments.
- Review loan risk ratings on a regular basis (at least annually for performing loans and more often for delinquent loans and loans on the watch list) and recommend changes when needed. including reporting to HAC Loan Committee and board as needed.
- Coordinate and assist with loan modifications, extensions, workouts, and restructures.
- Conduct monthly loan portfolio reconciliations with HAC’s Finance & Administration Division to ensure accurate financial statements. Monitor records related to lending activities (e.g., disbursements, repayments, interest, delinquencies, portfolio aging, risk classifications, loan loss reserve, write-offs, and defaults).
- Prepare portfolio performance reports for monthly Loan Committee meetings and HAC loan fund investor reporting
- Communicate with borrowers regarding pending maturity dates, late payments and other loan covenant compliance.
- Review and track insurance certificates for active loans to ensure HAC’s collateral is properly insured.
- Manage the coordination of and conduct on- and off-site monitoring visits, as needed.
- Assist in the preparation of funding applications (e.g., HUD SHOP, CDFI Fund, and other government and private loan fund investors).
- Assist with HUD and CDFI grant compliance and reporting.
- Participate in annual audit process and other reviews and monitoring visits conducted by federal agencies and investors.
- Attend professional development and training workshops/conferences to keep abreast of industry standards, challenges, and changes influencing lending activities; and improve and enhance financial services and monitoring and servicing aspects of HAC’s loan fund portfolio.
- Analyze data to identify trends, opportunities, and areas for improvement in the performance of the loan portfolio, including making recommendations about loan products, changes to underwriting and collateral standards, and ensuring that post loan closing documentation and compliance is sufficient.
QUALIFICATIONS
Certain education, knowledge, skills, and abilities for this position is required. Other abilities and experience are preferred.
- Bachelor’s degree with real estate and community development emphasis or equivalent and a minimum 5 years of experience in loan portfolio management, asset management, servicing, and monitoring commercial or CDFI single- and multi-family real estate loans
- Demonstrated knowledge of loan portfolio management roles, responsibilities, and analytics.
- Extensive experience in and knowledge of affordable housing development processes and public and private financing sources for single- and multi-family housing.
- Knowledge of or experience with affordable housing lending, including origination and related underwriting standards and documentation.
- Comprehensive knowledge of standard principles and legal procedures related to real estate transactions, property transfers, collateral, and risk/loss mitigation, general understanding of financial transactions, financial statements, and audits
- Demonstrated record of loan credit risk and restructuring and workout expertise and experience
- in-depth knowledge of Excel
- Experience with loan servicing software and databases and
- Data analysis skills
- Self-starter; ability to work independently in a remote work environment
- Team oriented with strong work ethic and solid time management skills
- Strong oral and written communication skills, with the ability to effectively negotiate and work with various parties (e.g., HAC staff, borrowers, lenders)
- Superior analytical and problem-solving skills.
- Minimum 3years of management and supervisory experience
Preferred
- Experience in rural housing development and development finance.
- Commitment to social justice issues and interest in rural, low-income housing.
- Experience with Nortridge Loan Software or similar loan servicing systems.
- Experience with using a Customer Relationship Management (CRM) system.
- Familiarity with Current Expected Credit Losses (CECL) accounting standards
COMPENSATION AND BENEFITS
HAC offers competitive wages, benefits, and growth opportunities consistent with industry standards. Flexible benefits packages include health insurance; life and other insurance; financial benefits, to include a retirement plan with partial employer match; time off; and work/life benefits, to include education assistance. Salary range is $110,000 to $120,000 per year, depending on qualifications.
EQUAL OPPORTUNITY EMPLOYMENT INFORMATION
HAC is an equal opportunity provider and employer. HAC does not discriminate against any applicant or employee based on race, color, sex, national origin, age, disability, or any other basis protected by applicable federal, state, or local laws.
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