Florida Community Loan Fund (FCLF) is a nonprofit lending institution providing capital and expertise to make projects successful and help organizations improve lives and low-income communities throughout the Sunshine State. Established in 1994, FCLF operates statewide from a network of offices in Orlando, Tampa, Sarasota, Melbourne, and Fort Lauderdale. FCLF financing has helped more than 200 organizations succeed in their projects, providing over 540,000 Floridians annually with housing or essential services through 400+ lending transactions to projects totaling over $1.3 billion. FCLF became Florida's first certified statewide Community Development Financial Institution in 1996 and has been certified as a Community Development Entity since 2004. Currently, FCLF has $108 million in total assets, a staff of 18, and an operating budget of $6 million. It has a growing loan portfolio of $82 million and has closed $288 million in New Markets Tax Credit investments. FCLF Strategic Plan emphasizes significant growth over the next 4 years and we are adding staff now to keep pace with this growth.
FCLF is seeking an experienced Loan Portfolio Manager to supervise the portfolio administration team in the management of a commercial real estate loan portfolio of community development loans. This position will supervise the team’s work to facilitate new loan closings throughout the state of Florida; manage construction processes; collect payments; address renewals; report on portfolio and assist in the management of portfolio quality. The Loan Portfolio Manager will report to the Chief Lending Officer and work closely with Loan Officers. The position is located in the Orlando office.
FOR CONSIDERATION, FOLLOW APPLICATION INSTRUCTIONS PROVIDED BELOW.
The Loan Portfolio Manager is responsible for the following essential functions:
- Interview, select, recommend, hire, train and assign team members. Provide direction and mentoring, develop and communicate performance metrics to assess the effectiveness of staff, both as a department and individually. Evaluate performance and provide counseling, cross training and coaching to employees. Maintain harmonious employee/employer relations. Develop and implement staffing plans and related budgets. Must have strong multi-tasking skills.
- Manage the loan closing process independently and through assigned team members. Strong experience in document preparation, or coordination with outside counsel, is necessary. Thorough understanding of title insurance exceptions/issues and survey review is key. Oversight of team, working with lending staff, on preparation of commitment letters based on underwriting results where types of commercial loans in the CDFI environment are diverse with multiple structural facets. Review project and underwriting, identify errors, and address issues. Consult with Senior Management and Loan Officers to explore and confirm methods of mitigating issues that impede closing and to implement successful projects.
- Manage FCLF’s interests in post-closing construction or Line of Credit advances and pay-downs, independently, or through team members, including coordination through inspectors, title agents, reviewing draw packages and supporting documentation against availability in project sources, and quoting release prices for pay-downs.
- Supervise team members that serve as the first point of contact for loan servicing issues. Supervise and monitor the follow up of issues relating to insurance, taxes, and financial statements, the tracking of portfolio activity in loan software systems, and the generation of reports for review by others.
- Manage the loan servicing processes including generating bills, posting loan payments, disbursements and other transactions; and maintain the accuracy of all information within the loan portfolio database, including terms and conditions, collateral information, tickler files, current contact information and other documentation information, delegating specific activities to team members.
- Provide leadership to team members engaged in a variety of other duties including, but not limited to, the following:
- Maintain the Community Impact database, prepare specialized reports and documentation for investment proposals and, provide Community Impact data for Federal reporting and tracking system to comply with CDFI requirements;
- Update and maintain the loan servicing system;
- Update and maintain collateral valuation information in system;
- Organize information for periodic loan portfolio reviews and update system to reflect changes to risk rating grades and loan loss reserves;
- Conduct initial contact with borrowers regarding delinquencies in effort to collect payments; and
- Communicate with clerks of courts to determine and arrange for payment of fees for collateral releases or in compliance with regulations.
- Facilitate wire transfers by verifying wiring instructions and coordinating dual control sign-off required for wire initiation.
- Work closely with Senior Management and Accounting team for a variety of regular and unique project specific reporting needs and functions.
- Position requires an understanding of, and commitment to, the community development industry.
Other Duties May Include:
- Represent FCLF and respond to inquiries, and develop relationships with borrowers and investors. Visit project sites to monitor construction and/or ongoing viability of project/collateral. Represent FCLF at a variety of community and economic development industry conferences to further existing business relationships and solicit new business.
- Manage Loan Portfolio Administrator assigned to participate in activities in support of the closing and construction advance processes for New Market Tax Credit (NMTC) structures, and ensure processes and documentation are in compliance with the NMTC regulations and FCLF requirements. Support the New Markets Tax Credit program by responding to and screening inquiries regarding requests for NMTC allocations from potential borrowers to develop pipeline for future NMTC awards. Provide counsel to potential borrowers as to means of improving project structure to comply with NMTC regulations and FCLF requirements. Represent FCLF at a variety of NMTC industry conferences to further existing business relationships and solicit new business.
- Perform or assist with any operations, as required to maintain workflow and to meet schedules and quality requirements. Notify appropriate party of unusual equipment or operating problems and the need for additional material and supplies.
- Maintain safe work area and comply with safety procedures and equipment operating rules keeping work area in a clean and orderly condition.
- Bachelor’s degree in a related field or equivalent combination of education and experience.
- Minimum 2 years’ experience in Portfolio Administration Management.
- Four plus years’ additional experience in community development loan portfolio administration and financial analysis; deal structuring a plus.
- Experienced and skilled in overseeing administrators’ and analysts’ work product.
- Exceptional time management and multi-tasking skills.
- Strong writing and composition skills.
- Strong interpersonal communication skills.
- Entrepreneurial approach to work.
- Knowledge of the field of and commitment to the mission of community development.
- Ability to build or assist in the management of relationships with potential clients, as well as business and lending partners.
- Experienced in MS Office Suite including PowerPoint, Word, Excel, Outlook and other software systems.
Compensation and Benefits:
This position offers the unique opportunity to join an innovative organization with the vision and expertise to make a difference in disadvantaged communities throughout Florida.
- A competitive compensation package
- Very generous paid time off benefits program
- 403(b) plan with employer-paid contributions
- Opportunities to work with a dedicated team who are driven to aid distressed communities
- your experience in COMMERCIAL real estate loan administration and management; number of years and position(s) held;
- your experience in closing commercial loans including ability to create or review legal documentation; number of years and positions held.
In the e-mail subject line, please note you are responding to the Loan Portfolio Manager position. Resumes without a cover letter containing the above information will not be considered. No phone calls please.
Florida Community Loan Fund, Inc. is an equal opportunity employer.