Loan Administrator Associate

Job Type

Full Time

Salary

Minimum: $50,000
Maximum: $65,000
Details: commensurate with experience

Published

09/24/2018

Start Date

11/01/2018

Application Deadline

10/31/2018

Address

Washington
District of Columbia
United States

Description

Company Summary

OFN is a leading national network of CDFIs (community development financial institutions) with offices in Philadelphia and Washington D.C. In pursuit of a mission to align capital with social, economic, and political justice, OFN supports its member CDFIs with money, strength, and voice to drive transformational change in underserved communities nationwide.

Position Summary and Essential Functions:

 

This position is primarily responsible for assisting the Vice President, Loan Operations in the administration of OFN’s loan portfolio. OFN’s portfolio includes the CDFI Bond Guarantee Program loans, OFN’s on-balance sheet loan portfolio, and managed loan funds. Such assistance will include maintaining and validating data in the loan management system, cash and collateral monitoring, and loan servicing monitoring and recordkeeping.

 

General Loan Administration responsibilities include but are not limited to:

 

  1. Prepare, collect and coordinate loan documentation and internal funding requests.
  2. Coordinate and implement the on-boarding of new loans and modifications to existing loans.
  3. Prepare timely submissions of internal and external departmental reports.
  4. Assist with the continued implementation of a Loan Origination/Servicing/Accounting System.
  5. Review quarterly interest payments from accounting for accuracy.
  6. Prepare and review invoices for loans and asset management.
  7. Preserve, maintain and update borrower files and legal documents as needed.
  8. Assist other financial services team members on projects or deliverables, as requested by the VP, Loan Operations.


Bond Guarantee Program Responsibilities include but are not limited to:

  1. Support the preparation and submission of the Bond Guarantee Program application via collection, organization and remittal of financial documents.
  2. Review and coordinate documents required to draw down on Bond funds for completeness and eligibility with the Bond Guarantee Program requirements.
  3. Provide payment oversight of Bond Loans and monitor Bond Loan collateral.
  4. Track and submit monthly, quarterly and annual reports to the CDFI Fund to support compliance with the terms and conditions of the Bond documents via database management systems.
  5. Perform other report administration as required.


Education and Experience:

  1. Bachelor’s Degree or 5+ years direct work experience required in lieu of a degree.
  2. 1-3 years of experience in lending markets that have similar characteristics to the loans of OFN, and/or title or mortgage industry experienced required.
  3. Experience in loan operations with a financial and /or nonprofit institutions preferred.
  4. Experience in multi-party lending structures, with borrowers, lenders, banks and servicers and backup servicers preferred.
  5. Experience preparing loan documents utilizing a Loan Servicing Software or standard templates as well as CRM system experience desirable.
  6. Experience or knowledge of the CDFI Industry a plus.
  7. Experience in nonprofit or small office environment a plus.

Knowledge, Skills, Abilities, and Physical Requirements:

  1. Knowledge of accounting or lending practices required.
  2. Superior analytical and organizational skills required with a keen attention to detail.
  3. Superior written and verbal communication skills required with emphasis on clarity, conciseness and relevance.
  4. Ability to understand and modify financial statements is preferred.
  5. Ability to understand loan documentation is required.
  6. Ability to review the work of other partners/subcontractors is required.
  7. Superior interpersonal skills and ability to work well with diverse constituents is required.
  8. Knowledge of and commitment to community development preferred.
  9. Advanced Excel skills with an above average understanding of database software is required.
  10. Ability to work independently or in team environment as required.
  11. Ability to manage multiple tasks effectively and efficiently under moderate supervision.
  12. Some travel required (<10% of time).
  13. No extraordinary physical requirements beyond ability to travel. 
  14. Job involves normal physical requirements for an office position. 

EOE/AA/D/V Complaint

Supervisor:   Vice President, Loan Operations              FLSA Status: Non-Exempt    

Benefits

Medical, dental, retirement plan, paid time off.

Level of Language Proficiency

English

Professional Level

Entry level

Minimum Education Required

4-year degree

How To Apply

https://theapplicantmanager.com/jobs?pos=OF139

Must provide cover letter and resume to online application portal.


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