Portfolio and Closing Manager

Position Overview:

We are seeking a dedicated and experienced Portfolio and Closing Manager to oversee the quality of our loan portfolio and support the business loan underwriting and closing process. This role is crucial in maintaining the health of our loan portfolio and fostering strong relationships with our borrowers. This position is full-time and benefits eligible, with training, professional development, and growth opportunities.

Impact Loan Fund is a community development financial institution dedicated to supporting the growth and success of small businesses in the Kensington neighborhood of Philadelphia. Impact Loan Fund is dedicated to delivering responsible and affordable lending to help attract businesses to our target area, support area redevelopment, and finance existing business growth to create jobs for neighborhood residents.  

Impact Loan Fund and its affiliate, Impact Services Inc., is an equal opportunity employer and does not discriminate based on race, color, sex, sexual orientation, gender identity, religion, creed, national or ethnic origin, citizenship status, age, disability, veteran status, or any other legally protected class status in its employment practices.

Responsibilities:

Portfolio Management:

• Action-oriented in communicating with our borrowers and monitoring the performance of our loan portfolio to ensure timely payments.
• Coordinate with delinquent borrowers to design and agree on a workout plan and implement plan to bring loans current.

 Loan Closing:

• Collaborate with relationship manager to prepare loan documents for loan closing and with loan servicer on entering data into loan management system accurately.
• Review final settlement statement for accuracy and compliance, including the verification of equity contribution, funds to drawdown, and payoff of debt (if applicable).
• Follow up with title company or closing/escrow agent to verify settlement of loan, disbursement of funds and advise of any problems or concerns.

Relationship Management:

• Foster positive relationships with our borrowers to encourage business growth and success.
• Act as the primary point of contact for borrowers regarding loan compliance and performance.

 Compliance Oversight:

• Ensure borrowers understand and adhere to the covenants outlined in their loan agreements.
• Conduct periodic compliance checks and site visits to verify adherence to loan terms.
• Provide guidance and support to borrowers on maintaining compliance.

 Underwriting Support:

• Assist in the underwriting process for new loan applications.
• Evaluate borrower financial statements, credit report, and other relevant documents.
• Assist in preparation of the credit memo for loan committee to review and approve.

Qualifications:

• Bachelor’s degree in finance, business administration, or a related field.
• Minimum of 3-5 years of experience in small business lending, loan portfolio management, compliance, or a related field.
• Strong understanding of loan underwriting and credit analysis.
• Excellent communication and interpersonal skills, with a focus on customer service.
• Bilingual in English and Spanish.
• Knowledge of community development financial institutions (CDFIs) and experience working with small businesses is a plus.

Skills:

• Strong analytical and problem-solving skills.
• Action-oriented and detail-oriented with a high level of accuracy.
• Ability to work independently and manage multiple tasks effectively.
• Proficiency in MS Office Suite and loan management software.

Physical Demands:

• Frequently stand, walk, sit, use hands to finger, handle, or feel objects, tools, or equipment, reach with hands and arms, balance, talk or hear. The employee will occasionally climb stairs; stoop, kneel, crouch or crawl.
• Able to sit at a desk working at a computer workstation keyboarding and performing routine clerical duties.
• Occasionally lift and/or move up to 25 pounds.
• Operate related office equipment and use necessary tools.
• Specific vision abilities required by the job include frequent reading and close vision; distance vision; color vision; peripheral vision; depth perception; and the ability to adjust focus.      

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.