Accounting & Loan Management Specialist

The Authority is seeking an Accounting/Loan Management Specialist to assist staff with accounting and loan management matters related to its nonpublic conduit bond transactions and transition to the official Climate Bank of Illinois. IFA/CB seeks a qualified pool of candidates that reflects the diversity of Illinois.

Do you want to use finance to combat climate change, promote equitable economic development, and enhance the quality of life for all the people of Illinois? Do you have the motivation, work ethic, skills, and grit to join a small, growing, and talented team at the forefront of climate finance? The Illinois Finance Authority/Climate Bank (“IFA/CB”) needs motivated and hardworking professionals to maximize the impact of new federal funding and to better deliver existing financial products in Illinois. If this describes you, then apply to join the IFA/CB.

IFA/CB offers competitive benefits, including a 401(a) defined contribution retirement savings plan with matching contributions, comprehensive and competitive health, life, and disability insurance, and paid time off. IFA/CB employees are at-will employees and are subject to various State ethics requirements, including revolving door prohibitions, but are not subject to the State of Illinois Personnel Code. IFA/CB is an equal opportunity employer.

II. POSITION SUMMARY:

Under the direction of the Senior Vice President of Finance & Administration of the Authority, this position entails a variety of duties in the loan/bond management and accounting duties. In the accounting department, duties will include general ledger accounting, internal auditing functions, the filing of reports, as well as providing back-up assistance to the SVP of Finance & Administration and the members of the Finance Department. In the loan department, the individual will play a crucial role in managing our loan portfolio, ensuring smooth operations and delivering exceptional service to our borrowers. This includes onboarding new loans into the system, managing loan accounts throughout their lifecycle (including disbursing funds), assisting Authority Senior Management in providing complete and concise presentations to internal and external auditors, processing payments, and maintaining accurate records of transactions. This position must provide excellent service to our borrowers by addressing inquiries and resolving issues in a professional manner and coordinating with key stakeholders. The approximate split of duties between accounting and loan management is 50/50 but will vary based on department needs throughout the year.

The following is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

III. DUTIES AND RESPONSIBILITIES:

Federal and State Financial Compliance and Reporting

1. Assist with monthly, quarterly, and year-end reporting and processes; prepare quarterly reports for the State of Illinois.
2. Perform grant monitoring administration, compliance, and grant accounting; prepare financial reports of awarded grants through their final closing.
3. Work as necessary with respect to the stewardship and reporting of federal funds.
4. Prepare and submit C-05 Forms (State mandated accounting forms), Bond Interest and Redemption Schedules.
5. Process C-08 Forms, Notices of Payment of Bond Interest and/or Principal, including monitoring timely receipt of C-08 Forms (State mandated accounting forms), verifying their accuracy and maintaining complete records of C-08 Forms.
6. Establish and maintain relationships with Illinois Office of the Comptroller (“IOC”), bond trustees and borrowers.
7. Manage the Authority’s bond database, including entering new bond issues, bond refunding, defeasance/pay-off as well as updating existing bond records.
8. Prepare monthly bond activity reports.
9. Reconcile the Authority’s bond data with IOC’s bond data (i.e., bonds issued and outstanding) for the Annual Bonded Indebtedness and Long-Term Obligations Report.
10. Enter C-08 Forms and C-05 Forms into IOC’s bond database system.
11. Collect and upload compliance documents to the Authority’s system.
12. Track and manage specialty loan programs activities to ensure they are processed efficiently and accurately in the system (i.e. SSBCI/Participation Loans, Fire Truck & Ambulance loans, Local Government loans, Guarantee loans, Beginning Farmer Bonds, & other loans federal loans/grants), including posting of all associated loan transactions.
13. With regard to the SSBCI-funded IFA Climate Bank Finance Program activity, create, maintain, and provide auditable reports, as required, on the primary Allocated Funds Account, and related, but separate, sub accounts for a) Interest Earned on Dormant Allocated Funds, b) Repaid/Recycled Funds, and c) Loan Interest Earned.
14. Maintain Federal reporting for both Advantage Illinois and US Treasury loan programs, as required.
15. Ensure compliance with all relevant regulations, laws, and internal policies governing lending activities, working with the State Auditor General when applicable.
16. Maintain accurate and organized loan files, ensuring all documentation is complete, up-to-date, and in compliance with regulatory requirements.

Other Accounting and Debt Management

1. As requested by the SVP of Finance & Administration, perform account reconciliations of all general ledger accounts.
2. Maintain, examine, and reconcile general account books and records.
3. Respond to requests for information from internal and external auditors.
4. Assist with end of month preparation of financial reports.
5. Prepare journal entries related to the operations of the Authority.
6. Make daily bank deposits.
7. Perform other administrative duties, including occasional copying and filing.
8. Provide redundancy in administration and record keeping for Accounts Payable and Accounts Receivable.
9. Perform other duties as assigned by management.

Other Loan Management

1. Onboard new loans into the loan accounting system.
2. Prepare all loan transactions in loan accounting system (ACH, check, & returns), including interest postings transactions.
3. Assist with processing loan disbursement requests for new loans.
4. Process incoming mail and deposits, submitting deposits through a remote desktop system.
5. Send necessary invoices/notices to customers for upcoming activity (e.g. loan maturities, loan status confirmation and payments due, etc.).
6. Ensure compliance with loan agreements and regulations.
7. Prepare month end loan reports.
8. Coordinate with appropriate stakeholders regarding loan management activities, specifically State and local agencies, to ensure loan compliance.
9. Provide support to borrowers, addressing inquiries, resolving issues, and assisting with loan-related requests in a timely and professional manner.
10. Perform other duties as assigned by management.

IV. QUALIFICATIONS:

1. Bachelor’s degree in Accounting or another related field, plus four or more years of accounting and/or finance experience or equivalent combination of education and experience. Experience working in a government agency is preferred but not required.
2. Familiarity with Federal and State grant processes. Knowledge of or experience with State Small Business Credit Initiatives (SSBCI) and/or Revolving Loan Funds preferred.
3. Experience with grants management and compliance preferred.
4. Familiarity with various federal and state reporting mechanisms and processes (e.g., GATA, Grants.gov, SAMS.gov) preferred.
5. Familiarity with other State government processes, including State audits, procurement, and State mandated accounting forms preferred.
6. Knowledge of loan accounting, reporting, and best practices.
7. Excellent communication skills. Must be an active listener who conveys information in a clear and concise manner, both orally and in writing.
8. Confidence with public speaking, specifically with respect to providing authoritative reports to internal/external auditors, senior IFA staff, and other governmental entities.
9. Able to perform accounting functions in accordance with Generally Accepted Accounting Principles and Practices applicable to government.
10. Ability to evaluate accounting problems of moderate difficulty and to analyze and interpret less complex accounting records and reports.
11. Ability to perform detailed work involving written or numerical data and to make arithmetical calculations rapidly and accurately.
12. Strong working knowledge of Microsoft Dynamics GP, MS Office, including Word, Excel, PowerPoint and Outlook.
13. High level of organizational, problem-solving, and analytical skills; able to manage work effectively under pressure, manage priorities and workflows and meet time sensitive deadlines.
14. Demonstrated ability to establish and maintain professional working relationships with other employees, customers, auditors, and the public.
15. Must be technologically adept and embrace opportunities for change, transformation and continuous learning and improvement.
16. The ideal candidate is an intellectually curious lifelong learner with the demonstrated ability to learn from failure and continue to strive to achieve greater impact on the wider world.

Illinois Finance Authority/Climate Bank offers competitive benefits, including a 401(a) defined contribution retirement savings plan with matching contributions, comprehensive and competitive health, life, and disability insurance, and paid time off. IFA/CB employees are at-will employees and are subject to various State ethics requirements, including revolving door prohibitions, but are not subject to the State of Illinois Personnel Code. IFA/CB is an equal opportunity employer.