Portfolio Manager

TITLE: Portfolio Manager

POSITION OVERVIEW

Washington Area Community Investment Fund (Wacif) seeks to fill a full-time Portfolio Manager position, who will oversee and manage Wacif’s small business loan portfolio. The Portfolio Manager will manage the servicing, compliance, and reporting functions for Wacif’s growing lending portfolio, including all payments and accounting of loans; track submission of financials; ensure that insurance, collateral and UCC filings are current; identify and restructure, and collect and/or rehabilitate non-performing loans. The Portfolio Manager will assess portfolio risk and the determination of allowance for loan losses (ALL). This role will collaborate closely with a variety of stakeholders: Wacif team members, external clients and borrowers, attorneys, title and insurance agents, appraisers, third party vendors, and other partners. The Portfolio Manager will provide knowledgeable, thorough, courteous, and efficient customer service to both internal and external customers with minimal level of direction, guidance, and oversight.

The Portfolio Manager is responsible for ensuring the portfolio management team is acting in accordance with servicing compliance, policies and procedures, and provides training and professional mentorship across teams, identifying operational deficiencies, and working in concert with leadership to develop and implement process enhancements to ensure efficacy. The ideal applicant knows how to work in a fast-paced, growth-oriented and collaborative environment, has strong financial analysis skills, and excellent oral, written, and interpersonal communication skills. Versatility and flexibility across a wide spectrum of business tasks are key. A successful candidate is an individual who wants to make a difference in this critical new landscape, help improve Wacif’s impact day-to-day working with clients, and maximize the growth and impact of our organization in the long-term.

REPORTS TO: Director of Lending Operations

DUTIES & RESPONSIBILITES

Daily duties include, but are not limited to:
  • Handle post-closing funding and servicing of loans under the supervision of the Chief Lending Officer and/or Director of Lending Operations.
  • Billing, tracking, and reporting of loan payments.
  • Investigating past due payment behavior, servicing and managing the restructure, collection, and/or rehabilitation of loans over 45 days past due, or otherwise identified to be in default, in a diligent and commercially reasonable manner free of conflict of interest of preference, and consistent with legal loan agreements and Loan Servicing Operating Procedures.
  • Providing written action plans outlining the cause of the loan default, as well as actions taken and intended actions to maximize recovery on a specific loan.
  • Preparing loan guarantee claim forms, documenting actions taken to maximize loan recovery.
  • Coordinating with the Chief Lending Officer and legal counsel to develop the optimal collection strategy after considering all borrower options and executing the strategy through well-developed objectives.
  • Negotiating with borrowers and making necessary judgments based on conditions presented to protect Wacif’s interest with appropriate risk mitigation and reward for risk, and to achieve maximum recovery in the most expeditious amount of time possible.
  • Calculating allowance for loan losses (ALL) under incurred loss methodology.
  • Facilitate transition to Current and Expected Credit Losses (CECL) methodology for calculation of allowance for credit losses, beginning in January 2023.
  • Maintaining the loan management system and related databases.
  • Providing advice and training to team members in handling troubled loans.
  • Creating and providing management with a Portfolio Risk Sensitivity Analysis report at least quarterly.
  • Working with executive team and impact teams on analyzing figures around economic development metrics, including designing and implementing client-focused surveys.
  • Working with other staff to prepare compliance and impact reports for funders and investors.
  • Leading crafting of performance reports on lending activities for partner and funding agencies.
  • Participating in close collaboration with other members of the team in the preparation of proposals to partner and funding agencies.
  • Running month-end data quality checks.
  • Primary responsibility for collections of troubled assets along with the assistance of other Lending Department teammates.
  • Developing economically-feasible loan monitoring methodology for various loan products in the portfolio.
  • Performing interim and annual financial loan monitoring in close collaboration with credit underwriters.
  • Working with the Chief Lending Officer, Director of Lending Operations, executive team, and lending team members on business development activities, including participating in client and/or prospect calls, and representing the organization in meetings.
  • Collaborating closely with team members in the development, launch, and execution of new lending products and partnerships.
  • Working collaboratively with other departments to manage information, reporting, and document preparation for various internal and external needs.
  • Represent Wacif at conferences, events, and functions as needed.
  • Performs other duties as assigned.

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.
  • 5-7 years’ experience in portfolio and asset management, financial analysis.
  • Proven ability to build relationships with potential clients, as well as business and lending partners.
  • Prior work-related experience and knowledge of community development lending, Small Business Administration (SBA) Microloan and 7A loans, as well as traditional and alternative loan programs is beneficial.
  • Experience in the community development financial institution (CDFI) industry a plus.
  • Experience and desire to increase access to resources in low/moderate income, diverse and underserved.
  • Knowledge of servicing software (i.e. DownHome Solutions, Nortridge Loan System (NLS), or comparable) required, and origination software desired.
  • Experience, or willingness to be trained and become proficient, with lending software and Client Relationship Management (CRM) systems.
  • Knowledge of and/or interest in community development, racial equity, and economic inclusion.
  • Strong financial skills and ability to develop and interpret financial statements applied to business accounting and finance principles are required.
  • Hands on experience working with small business owners is a plus.
  • Excellent verbal, written, and interpersonal communication skills.
  • Self-starter and problem solver.
  • Detail–oriented individual, and ability to work independently, and with a team.
  • Fluency in MS Office suite (Excel, Word, PowerPoint), and superior analytical skills are required.
  • Intermediate skills in MS Excel, including =HLOOKUP, =VLOOKUP, pivot tables.
  • Fluency in languages in addition to English is a plus.
  • 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 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 “Portfolio 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.