Special Assets Administrator
Department: Enterprise Risk Management
Location: Minneapolis, MN
Reports to: Senior Risk Manager
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
As a Special Assets Administrat, you’ll play a critical role in assisting the Asset Management Analyst with administrative tasks related to monitoring the performance of and general risk management of the commercial / business loan portfolios serviced by CRF. You will be responsible for assisting with the critical evaluation of loans and collateral securing the loans, as well as ordering reports, invoice processing, the preparation of reports, demand/default letters, releases or waivers, as needed. You will work directly with our borrowers, investors, the Small Business Administration (SBA) and other vendors (internal and external clients) to maintain/improve portfolio performance, proactively provide guidance and assistance to clients in an effort to prevent delinquencies and work tirelessly to mitigate/recover any financial losses. You will work very closely with the Enterprise Risk Management team and with many of the business lines within CRF, including Loan Servicing, Small Business Lending, and Finance. You will be an integral member of a team committed to the mission, vision and values of CRF.
Loan Management and Reviews
- Assist the Asset Management Analyst in problem resolution with loans in the risk portfolio, gathering follow-up information as needed for review. Support the Asset Management Analyst in the documentation of recommended actions and presentation to credit approvers
- Prepare and coordinate legal documentation, obtaining assistance and input from internal management and outside third parties, as needed
- Organize all electronic documents for the loan into the required SBA Servicing and Liquidation folders, ensuring use of proper naming conventions
- Determine and prepare a packaging needs list for servicing or liquidation action
- Order necessary reports required for applicable servicing or liquidation action to include UCC searches, credit reports, valuation reports, et al
- Process invoices for any loan expenses incurred, including third party reports
Collections/Loss Mitigation and Recovery
- Perform early collection activities on delinquent loans to include direct communication (phone, emails and letters) with the borrower and the collection of funds through the scheduling of phone payments (ACH on Demand)
- Schedule/order site inspections on loans in default
- Provide support, as needed, with annual and periodic loan reviews
- Prepare all SBA and CRF required forms and supporting documents for signature, obtaining all required signatures (borrower and CRF Officer) for loans in default, and scanning and saving all signed documents in the appropriate folder
- Track all collection and recovery actions in the Nortridge Loan Servicing (NLS) System
- Follow-up and monitor compliance with revised terms and address subsequent issues or changes as requested
Internal/External Customer Service and Communication
- Develop and maintain effective working relationships with CRF staff, auditors, lending partners, Small Business Administration (SBA), borrowers and others as required, resulting in coordinated and consistent interaction with others.
- Provide strong customer service with firmness and professionalism, advocate on behalf of CRF
- Document contacts and servicing action taken in loan servicing and other CRF systems
- Properly document, update and maintain activities and communications in NLS Servicing System and other databases
- Produce/send demand letters to borrowers as needed
- Prepare accurate, timely reports and other correspondence required by CRF loan programs, including the SBA.
- Assist or prepare written reports and recommendations for presentation to management
- Research and report on specific questions or industry issues
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 strong written and oral communication skills and you’re comfortable engaging with a diverse variety of customers daily and are willing to firmly advocate on behalf of CRF.
- Obsessive about Customer Experience: You empathize with the customer and tirelessly seek 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, 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 very comfortable utilizing technology, various software programs (intermediate level using Outlook, Word, Adobe Acrobat, and Excel), and have a desire to use technology to be more efficient and productive in your role.
- You preferably have an Associate degree or Undergraduate degree in Business, Finance, Accounting, or related field.
- Up to three years of experience in loan servicing, credit, loan work-out, or underwriting for residential loans, small business and/or commercial real estate loans
- Experience with and a working knowledge of commercial / business loan documentation, collateral security documents including mortgages and UCCs, insurance, and loan modifications, as well as legal processes such as bankruptcy and foreclosure is desirable
- Familiarity with reviewing financial statements and loan structuring
- Strong communication skills, both written and verbal
- Knowledge of the CDFI industry is welcomed
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