Loan Operations Manager

TITLE: Loan Operations Manager

POSITION OVERVIEW

Washington Area Community Investment Fund (Wacif) seeks to fill a full-time Loan Operations Manager, to manage and ensure the smooth and continuous operation and delivery of loan services to our clients. The Loan Operations Manager has a working knowledge of all loan operations functions and will carry out the accurate coordination of loan closings, funding loan disbursements, loan servicing system input, loan monitoring, and portfolio summary reporting. This position works directly with the lending, accounting, and operations team to continuously identify and correct systems and process-related gaps, mitigate risks, and propose areas for automation. This position will be the primary user of the loan origination and servicing systems.

Additionally, this position is responsible for knowing loan fund and program-specific compliance requirements assisting in creating a strategic plan for Loan Operations.

REPORTS TO: Director of Lending Operations

DUTIES & RESPONSIBILITES

Loan Closing, Disbursement & Quality Control (35%)

  • Manage and coordinate loan origination workflow and system improvements to ensure that loan files are well documented and move smoothly, efficiently, and accurately, from origination through closing.
  • Monitor service to lenders and develop work improvement projects to improve customer service to clients/borrowers.
  • Oversee loan closings and disbursements with accounting, lending, and portfolio management teams.
  • Supervise the workflow of loan closings to payoff of loan balances.
  • Responsible for the management of Wacif’s Line of Credit Product, including but not limited to: the receipt and recording of borrowing base certificates, aging reports, advance requests.
  • Monthly reconciliation of the Line of Credit product along with members of the finance and accounting team.
  • Participate in Quarterly Risk Rating meetings with members of Lending and Finance team.
  • Manage the review process of loans and other closing documents for Federal and non-Federal programs compliance; ensure proper closing procedures.
  • Preparing loan documentation for Secondary Market sales and/or partner participations.
  • Ensure compliance with Wacif credit policies, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards.

Loan Systems Management (20%)

  • Responsible for maintenance of loan origination and servicing systems, including new product development, product specification, and interest rate, changes.
  • Oversee loan maintenance, including but not limited to, address changes, automatic payment set-up, account and/or billing maintenance, application of payments, check issuance, and wire transfers.
  • Supervise the maintenance of loan documentation and customer correspondence.
  • Manage the operational aspects of the commercial loan portfolios ensuring timely completion of all required transactions including input and output of the loan system(s).

People Management (20%)

  • Coach and cross-train team members to become experts in their positions. Balances team and individual responsibilities, provide and welcome feedback, and contributes to building a positive team spirit and workplace culture.
  • Mentor staff in solving quality control issues within the Loan Operations department.
Special Projects & Lending Operations Efficiency (20%)
  • Evaluate, design, and enhance procedures, processes, and systems for all required areas.
  • Lead ad-hoc projects. Work on projects in coordination with the Director of Lending Operations that will enhance the Wacif product offerings or add efficiencies to our loan processing workflows. Projects may include but are not limited to industry research, product development, operational efficiency, compliance and reporting systems protocol, portfolio risk summaries, or policy analysis.
  • Develop project plans, coordinate projects, communicates progress, and completes project deliverables on time.
  • Identify and resolve problems in a timely manner; Gather and analyze information; Develop alternative solutions as needed; Works well in group problem solving situations.
  • Supports the Director of Lending Operations and Chief Lending Officer with policy changes, projects, and new product implementation.

Other Duties as Assigned (5%):

  • Provide excellent customer service to the staff while effectively serving small business’ needs.
  • Represent Wacif at conferences, events, and functions when needed
  • Performs other related duties as required.

QUALIFICATIONS

  • Entrepreneurial approach to work.
  • Bachelor’s degree in accounting, business, economics, finance, or equivalent combination of training and experience from an accredited institution required.
  • 5+ years’ experience in lending operations with experience in commercial loan origination, loan servicing, processing, closing, and documentation.
  • 4+ years of financial institution experience required, preferably in a nonprofit setting
  • 3+ years of supervisory experience
  • Knowledge of loan origination (i.e. Abrigo, LoanWell, or comparable) and servicing software and databases (i.e. DownHome Solutions, Nortridge Loan System (NLS), or comparable) required, CRM software desired.
  • Prior work-related experience and knowledge of community development lending, as well as traditional and alternative commercial loan programs is beneficial.
  • Hands on experience working with small business owners is a plus.
  • Excellent verbal, written, and interpersonal communication skills.
  • Detail–oriented individual, and ability to work independently and with a team.
  • Fluency with Microsoft Office Suite applications and other technology software, and strong analytical skills are required.
  • Experience interfacing with secondary market facilities, evaluating loan sales pricing, and managing loan sales operations.
  • Proven experience dealing with large data sets.
  • Intermediate to advanced MS Excel skills, including (i.e. vlookup, hlookup, pivot tables and pivot charts, and other key functionality).
  • Advanced organizational and project management skills.
  • Advanced critical thinking and problem-solving skills to manage complex information, assess problems, and develop effective solutions.
  • Self-starter with the ability to work in a small team environment, excellent attention to detail, and highly motivated to take on increasing levels of responsibility.
  • Ability to make timely and well-informed decisions based on discernment even in times of complexity and ambiguity.
  • Ability to eloquently articulate Wacif’s mission and programs and show passion for the mission.
  • Occasional evening and weekend hours may be required.

ABOUT WASHINGTON AREA COMMUNITY INVESTMENT FUND (Wacif)
Washington Area Community Investment Fund (Wacif) advances equity and opportunity in the Washington, D.C. area’s underserved communities by providing financial capital, business advisory services, and strategic networking support to underinvested entrepreneurs. Since its inception in 1987, Wacif has deployed more than $50 million in capital, served more than 3,500 entrepreneurs with business advisory services, and helped create or retain more than 20,000 local jobs. To learn more about Wacif’s work, visit www.wacif.org.

COMPENSATION

Competitive salary commensurate with experience. Medical, Dental, Vision, Life & Disability insurance coverages available. 401(k) retirement plan (employer matching contribution eligible); paid time off (increased with tenure), paid holidays and sick leave days, transportation benefits, and education assistance benefits (professional development, tuition reimbursement, and student loan repayment).

TO APPLY

Interested candidates should email a resume/CV, thoughtful cover letter that outlines how your skills and experience meet the qualifications of the position, and salary requirements to opportunity@wacif.org with “Loan Operations Manager” in the subject line.

Wacif is an equal opportunity employer and welcomes candidates from diverse backgrounds.
Wacif provides a flexible and hybrid working environment with the opportunity to work remotely.
We thank all those who apply, but only shortlisted candidates will be contacted.
No calls please. Telephone inquiries will not be accepted.