Reports to: Chief Credit Officer
Community Reinvestment Fund, USA (CRF) is a community development leader committed to bringing economic equity to underserved small businesses across the country while creating growth and development within said communities. Our primary mission is to provide capital and support services in low- and moderate-income communities to individuals who have historically had unequal access to financial services. Since 1988, CRF has helped reinvent the flow of capital, eliminate barriers to economic mobility and build community wealth. CRF forges a link between capital sources, local small business ecosystems and small business owners
ABOUT THE POSITION
The Asset Manager monitors the performance of business loans serviced by CRF to ensure repayment. Responsibilities for this position are accomplished by working individually and in teams with staff, consultants and legal counsel. The Asset Manager will contribute ideas and suggestions in an effort to continually improve our internal processes. The Asset Manager reports to and works under the direction of the Chief Credit Officer and is an essential part of meeting CRF’s fiduciary responsibilities and contributing to the overall growth, stability and profitability of CRF.
Portfolio Management and Collections/Loss Mitigation and Recovery:
- Work to maintain and improve portfolio performance, including collection of loans to prevent delinquency or financial losses.
- Help resolve borrower and loan problems, working with borrowers to address and assist working out of problems, recommend repayment plans and achieve loan performance consistent with company goals.
- Document recommended actions and present to credit approvers.
- Prepare and coordinate legal documentation, obtaining assistance and input from internal management and outside third parties, as needed.
- Address and complete loss avoidance or recovery activities on defaulted loans, such as foreclosures, bankruptcies, REO management.
- Develop and implement marketing / listing strategies to dispose of REO per corporate policy and objectives.
- Develop written analysis of request and key credit factors.
- Once approved, work with the appropriate parties, communicating progress and following up on questions and open items; implementing solutions as directed.
Loan Reviews and Modifications:
- Perform annual and periodic loan reviews, including financial condition and performance of obligors, compliance with loan requirements, and other factors to recommend a risk ranking and provision levels; review and spread financial statements and tax returns using financial analysis tools.
- Review, analyze, negotiate, process and close less complex modification, assumption, extension, waiver and consent requests; structuring solutions in compliance with CRF procedures and investor requirements. Obtain approvals as necessary
- Lead in the analysis and completion of complex loan modification requests.
- Follow-up and monitor compliance with revised terms, and address subsequent issues or changes as required.
- Support preparation of accurate, timely portfolio reports as required by CRF and investors regarding portfolio performance, and other purposes.
- Assist or prepare written reports and recommendations for presentation to management.
Internal/External Communication and Data:
- Develop and maintain effective working relationships with CRF staff, auditors, lending partners, borrowers and others as required, resulting in coordinated and consistent interaction with others.
- Ability to work cooperatively with a varied group of individuals to make the work of the group successful and effective
- Provide strong customer service with firmness and professionalism, reflecting CRF’s mission.
- Document contacts and servicing action taken in loan servicing and other CRF systems.
- Update and maintain accuracy in databases utilized for tracking the assumption, modification, waiver and consent transactions received.
- Follow requirements of internal processes as directed.
- Recognize and provide occasional recommendations to support an environment of process improvements and best practices.
- Monitor processes and recommend changes to support an environment of process improvements and best practices.
Are you as passionate about supporting small business owners as we are?
You’re an enthusiastic advocate who is energized by providing stellar customer service that will help our customers, and CRF, succeed. You are empathetic and willing to go the extra mile, which makes it easy for others to trust and value your guidance. You possess a knack for detail and organization which, in addition to your strong communication skills, your knowledge and experience, your problem-solving abilities and creative approach to issue resolution combine to create a recipe for success. You’re excited by the opportunity to interact with a diverse group of both internal and external customers and will work diligently to build and maintain strong relationships.
- Model and Support of CRF’s Mission, Vision and Values: You’re energized by delivering equal access to capital and by leveling the economic playing field, providing opportunities for people to succeed, and developing creative financing solutions that transform lives and communities.
- Belief in CRF’s Diversity, Equity, and Inclusion Philosophy: You model behavior that inspires dialogue, learning and cross-cultural exchange. As a member of the CRF team, you’ll participate in and encourage the CRF DEI Committee’s learning plan and promote intercultural competence and CRF Values.
- Effective Communicator: You have exceptional written and oral communication skills and you’re comfortable engaging with a diverse variety of customers daily.
- Obsessive about Customer Experience: You empathize with the customer and tirelessly advocate for new ways to create value and address customer needs.
- Creative Problem Solver: You’re able to identify challenges or impediments to success, articulate the problem and potential solution clearly to galvanize support, develop a course of action, and execute.
- Positive Presence: You thrive in a fast-paced working environment with a sense of urgency. You’re positive, energetic, articulate, and respectful.
- Technology Proficiency: You’re tech-savvy and view technology as a critical part of the organization’s success and have a solid understanding of customer relationship management software, social media and communications platforms, and web-based applications.
Associate or Undergraduate Degree and seven or more years of commercial loan asset and risk management experience (or a combination of education, experience and understanding) in business lending workout and knowledge of legal processes governing commercial loans. Proven experience in successfully managing problem loans to ‘best case’ outcomes in a fast paced, stimulating environment. Degree in finance, accounting, business or similar discipline is preferred.
ABOUT THE COMPANY
CRF is a national non-profit with a local heartbeat. As a non-profit, not only are we community centric, we’re community vested. Our staff members volunteer with local causes and participate in neighborhood events that they’re passionate about. We believe that serving the community means working side by side with the people who make these communities great and more importantly, the best way to understand their needs.
Community Reinvestment Fund, USA (CRF) is an equal opportunity lender, provider, and employer. We value diversity, equity, and inclusion and we do not discriminate on the basis of religion, color, national origin, gender, sexual orientation, age, marital status, veteran statues, or disability status.
Please send resumes and cover letters to humanresources@CRFUSA.com