Senior Asset Manager – Small Business Lending

Local Initiatives Support Corporation (LISC) is seeking a qualified candidate to fill the position of Senior Asset Manager specializing in Small Business Lending. This position will be part of LISC’s Lending Department and will report to the Vice president of Credit and Asset Management as well as work in close coordination with Small Business Lending staff. This position will be responsible for assisting the Director of Asset Management with monitoring, tracking and reporting on LISC’s Small Business loan portfolio and contributing to other facets of the Lending Department’s work as needed.

The primary duties of the position include:

• Oversee the management of the Small Business loan portfolio, spanning numerous product types and regions and serve as the workout lead for challenged loans.
• Position requires proactive oversight of and direct portfolio management of closed small business loans, including the following:
• Risk rating of loans and preparation of portfolio performance reports for committee review.
• Prepare quarterly loan watch reports and presenting to committee for review.
• Ensure that loan disbursements are communicated to and recorded accurately by LISC and CDC Small Business loan servicing personnel.
• Communicate with borrowers with regards to pending maturity dates, late payments and loan covenant compliance.
• Analyze loan performance against underwriting projections to identify any potential loan repayment problems.
• Identify, prioritize and engage in problem solving with borrowers and offer recommendations when issues arise.
• Review and track insurance certificates for active loans.
• Prepare post-closing amendment requests per LISC guidelines.
• Support the closing of loan amendments and restructurings by reviewing loan documentation to ensure that all deliverables have been provided and that legal documentation is consistent with credit approval.
• Make recommendations to enhance the structure of stressed credits.
• Negotiate workout and restructuring terms with borrowers and guarantors.
• Provide quantitative and qualitative rationale for proposed write-offs and prepare write-off memos.
• Management of the Small Business Asset Manager. Responsibilities include:
  • • Providing on-going training and advice on credit analysis and portfolio management
    • Setting clear expectations and KPIs
    • Conducting regular check-ins and providing feedback
    • Reviewing the Asset Manager’s work including Loan Watch and Portfolio Monitoring reports and providing feedback on structure, consistency and quality
• Work closely with LISC’s Small Business loan closer and CDC Small Business on the hand-off of closed loans.
• Ensure that, on a monthly basis, CDC Small Business submits a trial balance, remittance report, and a summary of any transaction adjustments, that LISC’s Loan Administration has confirmed receipt of monthly remittances, and that the Small Business Lending Asset Manager has reconciled the trial balance and provided a summary to the Chief Credit Officer, Vice President, Small Business Lending, and Loan Administration.
• Ensure the data in LISC’s loan administration system is consistent with loan approval terms and legal documents.
• Perform additional loan monitoring on individual loans and prepare reports on as-needed basis.
• Other duties as assigned

Qualifications

• Bachelor’s degree or relevant requisite work experience
• Minimum (5) years of small business lending experience.
• Candidate must have working knowledge of small business commercial credits (mainly C&I), real estate, finance and/or operations.
• Experience with asset management, credit analysis, and underwriting in community development is a plus.
• Strong communication, analytical, decision-making, time management, organizational, follow-up and relationship management skills.
• Self-starter ability to work independently as well as collaboratively.
• Proficiency in Microsoft Office suite, particularly Microsoft Excel.

Medical, Dental, Vision Coverage: Comprehensive health plans for you and your family's well-being; Disability Insurance: Long-term and short-term coverage for peace of mind; Retirement Savings: Secure your future with our 401(k) and 403(b) plans; Generous Holidays: Enjoy ample time off to recharge and celebrate; Vacation, PTO, and Sick Days: Take advantage of flexible time-off policies to maintain work-life balance; Tuition Assistance: Pursue your educational goals with support from our tuition assistance program; Referral Program: Earn rewards for referring qualified candidates to join our team; Professional Development Opportunities: Grow and advance in your career with access to ongoing training and development programs tailored to your goals.