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Portfolio Manager - Partners for the Common Good

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Published 11 days ago

Partners for the Common Good (PCG), a Washington, DC based community development loan fund, is seeking a Portfolio Manager.

Founded in 2000, PCG’s mission is to advance economic justice and opportunity for low-income people and communities.  We do this by partnering with CDFIs and socially motivated investors across the United States to serve borrowers that promote affordable housing, neighborhood revitalization, and healthy communities through support of education, community health centers, human service providers, day care and others.

PCG founded the CDFI industry’s first wholesale loan participation network that today has partnered with 50+ CDFIs in Washington, DC and 37 states, originates  $18-20  million in participation transactions annually, and currently has an outstanding portfolio of $38 million. In 2021 PCG is launching a $50 million Economic Justice Partnership Fund (EJPF), an innovative off-balance sheet facility to expand PCG’s product offerings to the CDFI community.

PCG also participates as a community development entity (CDE) allocating New Markets Tax Credits (NMTC).  PCG received $85 million in NMTC allocations and to date has closed ten (10) transactions for a total of $72 million in allocations. PCG also provides contract servicing and monitoring for two external portfolios.

PCG is leading the CDFI industry into the digital sector with its groundbreaking CapNexus platform (CapNexus.org).  CapNexus matches community development finance opportunities with sources of capital.  The platform has 800+ users and has posted over $1 billion community development transactions. 

PCG is also a leader in social impact assessment and public policy advocacy.  Our work is pioneering in its creation of new tools and infrastructure for community development finance organizations to manage portfolios and grow scale and impact.

PCG’s office is located in Washington DC.

Major Responsibilities

The Portfolio Manager is a mid-level position with responsibilities in the lending and compliance areas of Partners for the Common Good.  The incumbent will manage the portfolio management, loan closing, servicing (to include construction draw review process) and compliance functions for PCG’s growing lending and New Markets Tax Credit portfolio.  The Portfolio Manager supervises the Lending and Compliance Associate. This position reports to the Chief Credit and Lending Officer (CLCO) and will work closely with both the accounting and lending teams of PCG.  This position is full-time.

Job Duties and Responsibilities

  • Manage the loan closing process, documentation/review, and onboarding of new loans
  • Maintain the loan servicing system (Portfol)
  • Monitor PCG’s loan portfolio by conducting loan reviews and generating monthly and quarterly reports
  • Facilitate monthly portfolio meetings to present portfolio status to staff
  • Prepare portfolio reports for Board meetings
  • Review construction draws for Lending, NMTC, and EJPF transactions
  • Conduct annual file audits to verify completeness of loan files
  • Manage lending data collection and maintain credit files and monitoring files; Provide lending data and analysis for grant reports and applications
  • Supervise Lending and Compliance Associate
  • Collaborate with Lending and Compliance Associate and PCG impact staff to strengthen integration of Portfol system with Salesforce
  • Manage contract loan servicing and reporting for external portfolios
  • Support CLCO and senior management with special projects/requests
  • As needed, assist CLCO with loan modifications, renewals and other projects

 Professional Characteristics

The Portfolio Manager position is a mid-level position requiring at least five (5) years of experience in either portfolio / asset management, loan servicing, compliance, or reporting. The position requires a responsible individual that is a self-starter, problem solver, and has keen attention to detail.  The ideal candidate will have strong technical and organizational skills, as well as the ability to multi-task and meet deadlines.  Experience in the CDFI field, banking, or real estate development related to accounting or lending functions is required. Computer literacy in Microsoft Office environment (particularly Excel) is essential.  Individual with a bachelor’s degree in accounting, business or finance is preferred.  

PCG acknowledges and honors the fundamental value and dignity of all individuals. Our community strives to create and maintain a working environment that respects diverse traditions, heritages, and experiences. We are an equal opportunity employer and will consider all applications without regards to race, sex, age, color, religion, national origin, veteran status, disability, sexual orientation, gender identity, genetic information or any characteristic protected by law.

COVID-19 Circumstances

PCG is adhering to CDC, state, and local orders with regard to COVID-19. Staff have worked remotely since March 2020. We are closely monitoring the recommendations of health officials to protect the health and well-being of all staff.  At this time, we expect to return to the office in downtown DC before the end of 2021. Applicants are strongly encouraged to be in the DC, MD, or VA area to be able to work in-office once it is possible again.

Competitive salary, excellent benefits and a pleasant, challenging work environment.  PCG is an equal opportunity employer.

Partners for the Common Good (PCG), a Washington, DC based community development loan fund, is seeking a Portfolio Manager.

Founded in 2000, PCG’s mission is to advance economic justice and opportunity for low-income people and communities.  We…

Details at a Glance

  • Time Commitment
    Full Time Schedule
  • Start Date
    May 31, 2021
  • Application Deadline
    May 30, 2021
  • Education
    4-Year Degree Required
  • Professional Level
    Managerial

Benefits

See: http://www.pcgloanfund.org/portfolio-manager-pcg

See: http://www.pcgloanfund.org/portfolio-manager-pcg

Location

Temporarily Remote
Work may be performed anywhere in United States
Associated Location
1444 I Street NW, Washington, DC 20005, United States
Suite 201

How to Apply

Apply here: http://www.pcgloanfund.org/portfolio-manager-pcg

Apply here: http://www.pcgloanfund.org/portfolio-manager-pcg

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