As part of the GIIN’s mission to accelerate the scale and effectiveness of impact investing, we publish job openings from members of the GIIN Investors’ Council and other impact investing leaders.

Loan Monitoring Officer – Lending

at Local Initiatives Support Corporation in New York, NY - USA

About the Job

Local Initiatives Support Corporation (LISC) is seeking qualified candidates to fill the position of Loan Monitoring Officer. This position will be part of LISC’s Lending Department and will report to LISC’s Director of Asset Management and work in close coordination with lending staff in the field and other members of LISC’s Lending and Legal departments. The Loan Monitoring Officer will be responsible for assisting the Director of Asset Management with monitoring, tracking and reporting on LISC’s portfolio, managing work-outs and contributing to other facets of the Lending Department’s work as needed. The primary duties of the position include:

• Manage a loan portfolio of approximately 100 loans, spanning numerous product and project types provided by LISC as part of its community development activity.
• Position requires proactive management of closed loans including the following:
o Risk Rating assets and preparing portfolio performance reports for committee review.
o Writing quarterly loan watch reports and presenting to committee for review.
o Monitoring disbursements on Lines of Credit and Pre-Development loans.
o Communicating with borrowers in regards to pending maturity dates, late payments and other loan covenant compliance.
o Analyze loan performance against underwriting projections to identify any potential loan repayment problems.
o Identify, prioritize and engage in problem solving with borrowers offer recommendations when issues arise.
o Review and track insurance certificates for active loans.
o Prepare post-closing amendments per LISC guidelines.
o Prepare write off memos for auditors

• Ensure the quality of data in LISC’s loan administration system, including development of policies and procedures for data collection and quality maintenance, inputting and maintenance of data, and oversight of the management and use of data.
• Perform additional loan monitoring on individual loans and prepare reports on as as-needed basis.
• Interact with LISC staff to provide accurate and timely information

Qualifications

Applicants should have the following qualifications:

• Bachelor’s degree required.
• At least three (3) years real estate experience preferably working with LIHTC and/or NMTC or comparable experience in commercial real estate, banking/finance or urban planning.
• Candidate must have working knowledge of real estate, finance and/or operations.
• Experience with asset management, acquisitions, credit, 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.

To apply

To apply, please email a detailed cover letter and resume to:

Mary Kursar
Director of Asset Management
Local Initiatives Support Corporation
501 Seventh Avenue-7th Floor, New York, NY 10018
mkursar@lisc.org
LISC IS AN EQUAL OPPORTUNITY EMPLOYER

Local Initiatives Support Corporation

LISC is a national nonprofit intermediary that provides financial and technical assistance to community-based organizations, public agencies and private nonprofit and for-profit entities focused on the redevelopment of urban neighborhoods and rural communities. LISC works through 30 local offices in urban sites and a national rural program which operates in 34 states. LISC assists its local partners with the development of affordable multi-family and senior and other supportive rental housing, for-sale housing and homeownership initiatives, commercial and retail developments, community facilities and various community-building programs such as employment, child care, health care and open space. Please see www.lisc.org for additional information about LISC and its national and local programs.
LISC IS AN EQUAL OPPORTUNITY EMPLOYER
COMMITTED TO DIVERSITY AND INCLUSION