Senior Manager, Loan Portfolio

Publicado por
Los Angeles, CA
Publicado há 15 dias

About REDF Impact Investing Fund

The REDF Impact Investing Fund (RIIF) is a 501(c)(3) debt fund that provides loan capital and technical assistance to non-profit and for-profit employment social enterprises (ESEs). RIIF is administered by REDF, a venture philanthropy organization that invests exclusively in the growth and effectiveness of ESEs―double bottom-line businesses dedicated to helping people who otherwise would be shut out of the workforce, get jobs, keep jobs, and build a better life. Since 1997, REDF has provided funding and specialized advisory services to over 200 ESEs in 30 states, employing over 42,000 people. 

In response to demand from ESE partners, REDF launched its Impact Lending practice in 2017 to accelerate the growth of the field. In 2019, RIIF was formed to provide financing for employment focused social enterprises and businesses that employ and support individuals facing employment barriers such as experiences of homelessness, incarceration, addiction and mental health issues, youth disconnected from school and work, and survivors of domestic violence and human trafficking. RIIF helps improve borrower financial sustainability and strengthen business operations to employ and empower more individuals striving to chart a new course in life. With a current loan portfolio of over $2 million generating hundreds of employment opportunities, RIIF is demonstrating a model for how flexible loan terms, combined with technical assistance, can build the creditworthiness of ESEs and attract additional capital to fuel their growth. 

Position Description – Impact Lending, Senior Manager, Loan Portfolio 

You will be responsible for overseeing and managing the portfolio management function. You will actively manage RIIF’s growing portfolio of loans from closing through repayment and will be responsible for asset management including standard and special attention monitoring, compliance, and reporting. The Loan Portfolio Senior Manager is also responsible for continually re-assessing the overall risk level of the portfolio, working on loan modifications and re-structures, and originating new loans within the loan portfolio. The Loan Portfolio Senior Manager is also responsible for aggregating impact data and synthesizing portfolio-level learnings so that we can continually increase the impact of our lending work. Furthermore, you will own the advisory function within RIIF, identifying borrower needs and scoping projects. This role will involve a high level of engagement with RIIF borrowers, with a strong customer service focus. You will also interact with internal stakeholders including REDF’s learning & evidence team, finance team, and capacity building team, as well as external lender partners and legal counsel as appropriate.

In this position, you are a vital component of the Impact Lending team and will help innovate around the creation and refinement of processes, procedures, and best practices to make the loan portfolio management function more efficient and scalable as we grow, and you will also contribute to the overall strategy of the impact lending program. You will serve as the resident subject matter expert on portfolio risk management. 


Portfolio & Asset Management

Standard Loan Monitoring

  • Handle post-closing process which includes collaborating closely with the learning & evidence team to input reporting requirements and with the accounting team to ensure payments are set up correctly.
  • Conduct monthly or quarterly calls with each borrower, depending on risk profile. Review financial and operational performance, identify TA needs, discuss project status updates. Make recommendations to adjust risk rating if needed before borrower’s fiscal year-end.
  • Actively monitor portfolio performance on an ongoing basis; aggregate key metrics and ratios that roll up to quarterly and annual performance dashboard; analyze dashboard findings.
  • Prepare annual review memos for each loan to assess overall credit quality, including performance against original underwriting expectations. Include financial condition and operating performance, project status reports, covenant tracking and compliance, and risk analysis, including any recommended changes to the risk rating.
  • Conduct annual site visits to borrowers (TBD during the pandemic); meet with senior leadership and see ESEs in action; incorporate findings into annual review memo.
  • Identifying new ways to support the dynamic needs of the portfolio.

Special Attention Loan Monitoring

  • Work directly with borrowers to assess the necessity and feasibility of loan extensions or modifications, which may be required based on financial condition or performance.
  • Prepare memos which will include an analysis of the credit while making a recommendation as to the appropriate loan modification or extension.
  • Investigate covenant defaults, late reporting, and/or non-payment with a focus on compliance and collection. Identify causes and create an action plan with borrower.
  • Work closely with impact lending team, accounting team, and legal counsel in cases of non-payment or troubled assets, to determine optimal strategy and related documentation required.

Compliance, Data Collection & Reporting

  • Ensure timely and correct loan reporting and data collection including financial statements, impact reporting, and other deal-specific reporting as required under the loan documents.
  • Synthesize portfolio performance data to prepare reports to internal and external audiences, such as the RIIF board of directors, RIIF & REDF executive teams, and RIIF current or potential funders and investors.


  • Identify and structure new loan origination opportunities within existing portfolio.
  • Draft loan preview memos and full underwriting memos. Manage all aspects of due diligence.
  • Spread borrower financials and provide historical analysis of strengths and weaknesses, in order to assess capacity for new debt. Focus on the “why” behind the #s.
  • Analyze budgets, test assumptions behind cash flow projections, and create appropriate deal specific sensitizations and scenarios that stress test debt service capacity.
  • Perform analysis of borrower operations, programs, management, and evaluate historical and projected social impact.
  • Perform thorough risk assessment, using both organizational and environmental factors.
  • Identify potential risks/mitigants. Assess likelihood of repayment sources. 

Technical Assistance

  • Identify TA needs within loan portfolio; create project scopes in collaboration with REDF’s capacity building team for engagements where we use external consultants to deliver TA; work closely with consultants to ensure projects are properly delivered.
  • Occasionally take on self-executed/solo projects depending on need, capacity, and skill set.
  • Work with Director of Impact Lending and capacity building team to refine our TA delivery (what projects we should be offering, for whom, under what conditions, etc.), and define TA effectiveness.

Strategy & Innovation

  • Collaborate closely with impact lending team in the development, launch and execution of portfolio management innovations, and broader impact lending program strategic decisions.
  • Refine, implement, and maintain client-focused surveys to ensure continuous improvement of impact lending program. Translate findings into areas of improvement and design solutions.
  • Identify operational inefficiencies and propose potential solutions as the portfolio grows (ex. research loan servicing systems that may be appropriate as RIIF’s portfolio grows).

Essential Qualifications

  • Prior portfolio management experience with small businesses and/or non-profits is required.
  • 8+ years relevant work experience in small business finance, community development finance, or impact lending with 3-5 years of leadership experience in a relevant field.
  • Familiarity with standard loan documentation (loan agreements, notes, guarantees, collateral agreements, etc.). Sufficient knowledge to review and negotiate loan modifications/extensions.
  • Strong financial analysis skills: ability to spread and interpret non-profit and for-profit financial statement and calculate key ratios.
  • Strong communication and interpersonal skills, including diplomacy, tact and patience.
  • Proven ability to prepare clear, accurate well-organized memos that synthesize and communicate the story behind the data. Ability to fuse quantitative and qualitative information to drive decision-making and risk assessment.
  • Prior experience underwriting loans for non-profits and/or small businesses.
  • Knowledge of and strong interest in REDF’s commitment to diversity, equity and inclusion, and bringing a DEI lens into the credit risk assessment process.
  • Mature judgment, professionalism, flexibility, and ability to work with minimal supervision in a fast-paced department; passion for building new programs.
  • Proven ability to develop and manage excellent borrower relationships.
  • Ability to build and maintain systems for organizing work to manage several priorities.
  • Exceptional detail-orientation.
  • Well-versed in Microsoft Office Suite; in particular Excel.
  • Proficiency using Salesforce as CRM system and data analytics tool for analysis and reporting.
  • Able to travel up to 15% for work purposes (once business travel resumes)

Desired Qualifications

  • Experience with job training and job creation programs employing disadvantaged people.
  • Knowledge of or experience in the Community Development Financial Institutions (CDFI) industry.
  • Prior experience providing technical assistance borrowers.
  • Formal credit training.

The Rewards

  • Ability to help craft REDF’s next 20 years of impact
  • Work with passionate, dedicated people
  • Apply your passion for social change in your career while using business as a force for good
  • Operate with a high degree of autonomy in a fast-paced, dynamic environment
  • 13 paid holidays and ample vacation time
  • A generous dollar-for-dollar retirement plan match of up to 4% of your base compensation
  • Opportunity to learn continuously by building your skills and broadening your perspectives at conferences, workshops, and more
  • Competitive, comprehensive benefits package

Join Us!

Please submit your resume and cover letter via REDF’s applicant portal. A personalized cover letter is required; applications without one will not be considered.

Diversity is a core value at REDF. We are passionate about building and sustaining an inclusive and equitable working and learning environment for all staff. At REDF, we envision a thriving and inclusive society where all people have the jobs and the support they need to realize their full potential. The unique backgrounds, perspectives, and lived experiences that our staff and partners bring informs our work and helps us move towards this vision. We are making progress, and there is much left to learn, and much left to do. As we strive for a more racially just and equitable economy—one in which all people are recognized and celebrated for their talents—we remain fervently committed to continuous learning, to regular process improvements and to holding ourselves accountable for our action. We invite you to learn more about our work and to join us.

REDF is an equal opportunity employer and is committed to a policy of equal treatment and opportunity in every aspect of its relations with staff members and prospective employees and will not discriminate against applicants for employment because of race, creed, color, national origin, age, disability, marital status, sex, or sexual orientation. Pursuant to the San Francisco Fair Chance Ordinance, REDF will consider qualified applicants with arrest and conviction records for employment.

**Due to the holiday season, we will begin to review applications in early January**

About REDF Impact Investing Fund

The REDF Impact Investing Fund (RIIF) is a 501(c)(3) debt fund that provides loan capital and technical assistance to non-profit and for-profit employment social enterprises (ESEs). RIIF is administered by REDF…

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Los Angeles, CA, USA

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