IFF improves the world by strengthening nonprofits and the communities they serve. As a mission-driven lender, real estate consultant, and developer, IFF helps communities thrive by creating opportunities for low-income communities and persons with disabilities. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Across the Midwest, we help clients from every sector, including human service agencies, health centers, schools, affordable housing developers, and grocery stores.
Staff contributes its extensive business experience with an unrivaled connection to the mission of IFF and the nonprofit clients it serves. IFF is looking for candidates with a commitment to the work it does and can demonstrate their creativity, detail-orientation, diligence, efficiency, enthusiasm, flexibility, organization, thoughtfulness, and sense of humor.
Basic Job Function
Proactive management of IFF loans post- close to monitor borrower compliance, identify areas of risk, evaluate borrowers’ long-term viability/performance and proactively mitigate potential defaults and loan loss.
Job Duties and Responsibilities:
Manage a portfolio of 100-150 borrowers and loans, including:
In coordination with originating lender, serve as borrower’s primary post-close contact for monitoring, servicing, modifications and new loan requests.
Post-close review of loan terms and conditions to verify all necessary information is in the loan systems in order to properly monitor ongoing compliance and key reporting and performance dates.
Periodic collection, review and analysis of financial and other reporting information for risk monitoring and updated risk recertification.
Periodic site visits to assess borrower’s financial health, check collateral condition where warranted and identify relationship issues and/or opportunities.
Work with originating lender and other staff as appropriate to address compliance issues, delinquency and any required modifications to loan terms and conditions.
Make recommendations on loan risk rating downgrades and perform analysis on collateral value and potential loan loss.
Maintain accurate and complete loan files and support as needed requests for portfolio or borrower information.
Implement as required IFF delinquent and troubled loan procedures and policies:
Monitor borrower delinquencies to resolve payment problems and other borrower related issues; implement default processes including managing notice and other legal requirements; downgrade consistently delinquent loans.
Proactively manage borrower delinquencies through meetings with borrowers; requiring, obtaining, and reviewing borrower financial and cash flow statements; and developing action plans for remedying delinquencies.
Support, as assigned, on nonperforming loans and OREO:
Develop loan workout or restructuring recommendations on chronically delinquent or nonperforming loans.
Monitor workouts by collecting and reviewing financial statements and other required information and ensure continuing borrower compliance with workout agreements.
Oversee foreclosure process including notice and other legal requirements; manage outside legal counsel.
Analyze recovery options on OREO; identify strategies, budgets and resources to manage and liquidate owned assets.
Work with Finance Department and Senior Director of Facilities and Asset Management on collateral protection and disposition issues.
Update Problem Asset Committee on asset status and document and make recommendations for specific reserves and write downs.
Maintain borrower/asset information and monitoring documentation including loan files, problem asset summaries and other loan databases.
Work with Capital Solutions staff to support compliance with portfolio and collateral monitoring procedures and assess and test portfolio quality:
Support maintenance of a robust tracking system for loan and collateral reporting/compliance requirements.
Identify trends and risk issues that may impact portfolio sectors or geographies. Support portfolio reviews or stress testing.
Recommend modifications to policies, procedures or risk rating methods to improve risk identification and mitigation.
Achieve lending and program goals for portfolio performance, risk identification and relationship deepening.
Recommend solutions to identified issues and problems relating to loan program implementation.
Work effectively with troubled borrowers to achieve constructive workout solutions.
Accurate and thorough assessment of risk issues, optimal solutions and costs to achieve including costs to carry nonperforming assets.
Education: MBA or MA preferred, preferably in business, accounting, finance, or community development. A Bachelor’s degree plus three years additional relevant experience may substitute for an advanced degree.
Previous Experience: Minimum of five years experience in commercial real estate or nonprofit lending required. Some experience with commercial real estate workouts, delinquent loans and OREO. Demonstrated competency in commercial portfolio compliance disciplines and terminology, high-level credit and financial analysis, underwriting policies and procedures, and loan restructuring.
Special Knowledge & Skills: Familiarity with construction and lending practices and terminology; good interpersonal skills; high level written and oral presentation skills, proficient computer software user, including spreadsheets and databases.
Unusual Requirements: Occasional evening and weekend work; able to inspect active construction project sites, regional travel.
Application Instructions: Please submit a cover letter, resume and salary requirements to email@example.com “Portfolio Loan Officer” in the subject line.
IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive by creating opportunities for low-income communities and people with disabilities. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Social return can coincide with financial return.
Across the Midwest, we help clients fr...om every sector, including human service agencies, health centers, schools, housing developers, and grocery stores. Our staff of over 70 professionals works from our Chicago headquarters, and we also serve the Midwest from four regional offices: Milwaukee, Wisconsin; St. Louis, Missouri; Indianapolis, Indiana; and Detroit, Michigan. We are a U.S. Department of the Treasury certified community development financial institution (CDFI), a member of the Federal Home Loan Bank of Chicago and the Opportunity Finance Network, and a past recipient of the $5.5 million Wells Fargo NEXT award for Opportunity Finance.
IFF is the largest nonprofit CDFI in the Midwest and one of only a few nationally to earn the Aeris AAA+1 rating. Since 1988, we have made over $450 million in loans, leveraged $1.4 billion in community investments, and grown our total managed assets to $300 million.