Asset Manager @ Enterprise Community Loan Fund, Inc. - Columbia, MD
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Enterprise Community Loan Fund, Inc.
Enterprise Community Loan Fund (ECLF) is a certified community development financial institution and a member of the Enterprise Family of Companies. Since its founding in 1982, Enterprise, our controlling entity, has raised and deployed more than $53B in equity, grants and loans to support low-income people and low-income communities including building or preserving nearly 662,000 affordable rental homes. For more information about enterprise, please visit our website at www.enterprisecommunity.com.
Reporting to the Chief Credit Officer (CCO) the Asset Manager is responsible for managing a portfolio of loans, which may include the management of troubled loans as well. In particular, the Asset Manager will provide support to Loan Fund’s operations by working closely with the Loan Fund’s CCO and Loan Officers to manage relationships with our customers and closely monitor the performance of the loan and underlying project. From time to time, the Asset Manager will be asked to assist the Loan Fund’s Loan Officers with specific underwriting tasks (i.e. financial statement analysis).
The Asset Manager will primarily be tasked with working closely with the CCO and Loan Fund’s Loan Officers to assist with various loan monitoring and compliance tasks for both on- and off-balance sheet loans and relationships. These tasks may include but not be limited to the following: completing portfolio reviews; providing financial analysis of existing sponsors; tracking and reviewing loans for covenant compliance; working with Loan Fund staff to review and track draw requests for construction projects; negotiating and closing loan modifications; drafting simple modifications as requested; developing and implementing workout plans for troubled loans as necessary; completing quarterly reports on troubled loans; and performing site visits.
Loan Underwriting & Originations
The Asset Manager may periodically be tasked to work with Loan Officers on underwriting for loan packages that may include but not be limited to performing financial analysis of both for- and non-profit sponsors and/or borrowers, completing 3rd party reviews, and performing site visits. In addition, the Asset Manager may be tasked to underwrite transactions on an independent basis, as necessary.
Other Duties as Assigned
From time to time, the Asset Manager carries out other responsibilities as assigned such as assisting with the development of new programs and/or product initiatives, investor requests, or other special requests as applicable.
- At a minimum 5 years of work experience and an undergraduate degree in business, finance, real estate, urban planning or related field is required.
- Experience with managing a portfolio of real estate-based loans for a financial institution with an emphasis on multifamily rental housing.
- Knowledge of community facility loans such as charter schools and health centers is desired.
- Experience with loan workouts is preferred.
- Proficiency in analyzing financial statements of nonprofit and for-profit organizations
- Experience with reviewing appraisals and real estate proformas, especially for multifamily rental housing and community facilities.
- Knowledge of the closing process and loan documents utilized in real estate transactions.
- Familiarity with federal, state, and local government funding sources for capital and operating needs of multifamily housing, special needs housing, and community facilities (e.g. LIHTC, HUD programs, etc.) desired.
- Excellent written and verbal communication skills are required.
- Strong computer aptitude skills, including knowledge of Microsoft Office Suite Programs are essential.
- Ability to manage multiple tasks while exhibiting a strong attention to detail.
- Ability to work effectively in a team environment.
- Ability to travel up to 20%.