Search

Job

Loan Operations Officer

Posted by

Opportunity Finance Network


New
|
Published 16 days ago

March 10, 2021
$65,000 - $80,000

Position Summary and Essential Functions:

The Loan Operations Officer 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 includes administering the loan management system, acting as a fund administrator by preparing, maintaining, and delivering fund level activity, portfolio and impact reporting, and onboarding of investments to OFN. Proactive recommendations for efficient and effective process change to better support the team is essential.  

Responsibilities include:

  •  Serve as the Loan Management System expert and administrator and manage system updates for new loans/investment products and first point of contact for troubleshooting any system issues and resolving errors.
  • Build, prepare, maintain, and deliver fund and investor reports.
  • Initiate and coordinate transaction level reporting to the CDFI Fund.
  • Manage loan purchase process to investors.
  • Onboard loans payable at OFN including reviewing investor documents, completing onboarding sheets for new and renewing investors, entering information into TEA and other systems, and organizing files. 
  • Support VP, Loan Ops in performing audits of loan/investment files to ensure compliance with financing guidelines and policies
  • Perform servicing functions such as, reconciliation of borrower loan and investment invoices, audit confirmation and payoff processing.
  • Support Accounting team in the preparation of OFN income statement and balance sheet projections.
  • Cross train in functions related to loan, investment and grant closing, funding, and onboarding.
  • Cross train in Bond Guarantee Program functions related to debt service and collateral monitoring.
  • Assist other financial services team members on projects or deliverables, as requested by the VP, Loan Operations.

Qualifications:

Bachelor’s Degree or 5+ years direct work experience required in lieu of a degree.

  • 3+ years of experience working with Federal, state, or municipal government programs, in delivering government contracted non-profit programs, or consulting organizations participating in government sponsored type of programs highly desirable.
  • 3+ years of experience in financial statement analysis highly desirable
  • 3+ years of experience in lending markets that have similar characteristics affordable housing, commercial real estate, business loans, and/or title or mortgage industry experienced required.
  • 3+ years of experience in administering or heavily working with a loan management and CRM system.
  • Experience in loan operations with a financial and /or nonprofit institutions preferred.
  • Experience in multi-party lending structures, with borrowers, lenders, banks and servicers and backup servicers preferred.
  • Experience or knowledge of the CDFI Industry, nonprofit or small office environment a plus.
  • Must possess a strong passion for, understanding of, and commitment to OFN’s mission, vision, and values. In addition, be a fearless advocate, who is confident and resilient in OFN’s fight to drive capital into low-income communities.
  • A collaborative team player who possess the interpersonal skills to work across all levels of the organization, humility, and a willingness to learn in all areas of our work. Be a strong team contributor, effective and comfortable in leading as well as supporting roles within teams.
  • Be a smart, quick seeker of knowledge with the ability to think strategically, creatively, and tactically to analyze results and assist in implementing plans for increasing capital to communities we serve.
  • Knowledge of accounting practices required.
  • Superior analytical and organizational skills required with a keen attention to detail.
  • Superior written and verbal communication skills with emphasis on clarity, conciseness and relevance and the ability to work well with diverse constituents is required with the ability to review the work of other partners/subcontractors.
  • Ability to understand and modify financial statements is preferred.
  • Knowledge of accounting and lending practices required.
  • Advanced Excel skills with an above average understanding of database software is required.
  • Ability to work independently or in team environment as required with the ability to manage multiple tasks effectively and efficiently under minimal supervision.
  • Some travel required (<10% of time).
  • No extraordinary physical requirements beyond ability to travel. 
  • Job involves normal physical requirements for an office position. 

EOE/AA/D/V

Supervisor:  Vice President, Loan Operations          FLSA Status: Exempt        

Budgeted annual salary range: $65,000 - $80,000

 This is a full time position

Position Summary and Essential Functions:

The Loan Operations Officer 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…

Details at a glance

  • Full Time Schedule
  • 4-Year Degree Required
  • Professional

Location

On-site
901 D Street Southwest, Washington, DC 20024

How to Apply

To complete an application, please visit this page: https://theapplicantmanager.com/jobs?pos=of169&fs=15px

To complete an application, please visit this page: https://theapplicantmanager.com/jobs?pos=of169&fs=15px

Join Idealist

Sign up today to save your favorite jobs and get email alerts when new ones are posted.