Asset Manager

at  Low Income Investment Fund

POSITION SUMMARY:

The Asset Manager (AM) is responsible for the overall asset management of a portfolio of loans, including acquisition, predevelopment, construction and permanent loans, which support the development of affordable housing, childcare facilities, charter schools, and other community facilities.
The Asset Manager is responsible for actively managing the loans in their portfolio from the period immediately following the loan closing until repayment, and serving as the LIIF lead contact for borrowers, sponsors, and other external partners. Additionally, the Asset Manager is responsible for credit monitoring and analysis, risk rating recommendation, construction loan administration, loan conversion, modification underwriting and closing, special attention loan monitoring, and workouts for all assigned loans.

LOAN EXTENSIONS, MODIFICATIONS AND CONVERSIONS

• The Asset Manager will be responsible for any required loan extensions, and modifications and conversions in his/her portfolio.
• For loans where the borrower is seeking an extension or modification, the Asset Manager will work closely with the borrower to provide an assessment of the necessity, feasibility and creditworthiness of such extension or modification, and communicate same with the Deputy Director, DAMLA, and the Credit Team.
• The Asset Manager will conduct an analysis of the credit and then make and support a recommendation as to the extension or modification terms and conditions if an extension or modification is deemed appropriate.
• The asset manager will manage conversion of loans product type, which may involve updated credit underwriting and loan closing.

SKILLS REQUIRED:

The ideal candidate for this position will have these key qualifications:

• A minimum of two years of experience within real estate-based lending and/or business lending, including borrower contact, credit analysis, due diligence and loan documentation lending and/or business lending, including borrower contact, credit analysis, due diligence, and loan documentation.
• Proficiency in analyzing financial statements of for-profit and nonprofit organizations and their real estate operations (in particular, rental housing and community facilities occupied by a single tenant).
• Familiarity with basic accounting principles including the ability to translate cash to accrual accounting and vice versa.
• Understanding of federal, state, and local government funding sources for capital and operating needs of multi-family housing, special needs housing, and community facilities (e.g., childcare centers, educational programs, health clinics, etc.)
• Industry experience within both private sector financial institutions and public agencies.
• Basic familiarity with business law concepts including contracts, loan collateral, uniform commercial code, creditors’ rights and forms of business organization and sufficient knowledge to review and negotiate loan documents.
• Proficiency with Microsoft Office Suite Programs, and other database software.
• Excellent skills in managing multiple tasks requiring strong attention to detail.

EDUCATIONAL AND OTHER REQUIREMENTS:

• Educational background should include a bachelor’s degree in a relevant area of study such as real estate, urban planning, business administration or finance, and at least an introduction to accounting; an advanced degree is preferred.
• Self-motivation, dedication, creativity, and perseverance; flexibility with time and willingness to accept a demanding (and personally satisfying) position.
• Excellent teamwork and strong time management skills are essential.
• Travel is required, and candidates must have a valid driver’s license.