Assistant Director of Portfolio Management (REF# ID028)

Job Type

Full Time

Salary

Minimum: $65,000
Maximum: $72,000
Details: salary range as specified

Published

10/31/2018

Address

633 Third Avenue
34th Floor
New York
NY
10017
United States

Description

BASIC FUNCTION:

To help safeguard the integrity of the Empire State Development’s (ESD) loan and grant portfolio by actively monitoring, servicing, and enforcing ESD’s rights pursuant to the various project agreements. Structure complex workouts that provide mutual benefits to ESD and its clients.   Conduct annual site visits to a portfolio of ESD assisted companies throughout New York State and maintain strong relationships with ESD’s customers.


WORK PERFORMED:

·Monitor over 500 active projects overseen by the Portfolio Management Department and ensure that they are performing according to their respective agreements;

·Make recommendations to ESD’s Workout Committee and senior management on workout proposals;

·Enforce ESD rights under the various project agreements;

·Conduct site visits to the Job Development Authority’s (JDA) top 25 borrowers to report on company financial performance, verify sufficient collateral for ESD’s position, conduct market research and maintain strong customer relationships;

·Develop and manage ESD’s enhanced employment verification process;

·Assist with preparation of responses to media inquiries involving employment and grants with the ESD Public Affairs Department;

·Work with IT and Loans & Grants to implement changes to the grants program and to the employment database;

·Respond to requirements and questions from ESD and HUD auditors

·Negotiate modification and workouts with company principals and other lenders

·Evaluate property appraisals and environmental assessments to determine collateral value.

.Make high-level recommendations to ESD senior management and to take all necessary steps to enforce ESD’s

rights to under various agreements


EDUCATION & REQUIREMENTS:

Education level required: Bachelor’s Degree in Finance, Economics, Accounting or Business Administration. Advanced degree desirable         

Equivalent Experience required: Minimum four years of professional experience in compliance, commercial lending, finance and/or finance related areas; additional two years of related professional experience may substitute for a graduate degree.

Knowledge Required: Finance, real estate, commercial lending, legal compliance, outstanding written and oral communication skills, as well as proficiency in Microsoft Word, Excel and Access

Benefits

Comprehensive Benefit Package

Professional Level

Professional

Minimum Education Required

4-year degree

How To Apply

resumes@esd.ny.gov

Please include job title and Ref# in subject line of email


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