The Asset Manager works under the supervision of the Vice President of Portfolio Management to monitor loan portfolio performance, collateral review and evaluation, loan servicing, special asset management, and reporting. The position supports the work of the VP of Portfolio Management. The position involves direct contact with our borrowers and clients.
Underwrite modification, workout and restructure proposals in consultation with staff and borrowers, and present credit proposals to board committees
Initiate appropriate follow up and monitoring actions for non-performing and at-risk borrowers, including technical assistance needs
Conduct borrower reviews. Perform analysis of the financial, management and development capacity of borrowers
Conduct and document physical inspections of project sites and collateral real estate
Provide periodic valuation and analysis of the collateral securing the portfolio
Assist with social impact reporting and technology needed to provide quality reports
Review and approve construction draw budgets and disbursements including closing draw disbursements
Assist with receivable collections, assist with invoicing and other servicing activities
Assist with routine compliance monitoring for existing portfolio, including financial statements, project reports, take-out financing status, legal and general borrower status
Assist with all aspects of the loan payoff process including receipt of payment, release of security documents, notifications and refunds to borrowers, credit file documentation and transfer, and all internal processing tasks
Prepare portfolio reports
Complete other assignments as required
The Asset Manager will possess the following:
3-5 years previous asset or portfolio management experience with a financial institution
Previous financial and project analysis experience
Previous work experience in community development, real estate lending or asset management
Working knowledge of the community, economic, and affordable housing development industry
Ability to perform financial and project analyses
Strong mathematical skills
Strong oral and written communication skills
A keen attention to details
Ability to work successfully with a diverse range of community-based groups
A proficiency with Microsoft Access database software
Ability to organize and handle multiple priorities simultaneously
Demonstrated project management and problem-solving abilities
Ability to work effectively in a team work environment
Working knowledge of the Metro Chicago area
Minimum educational requirement: Bachelor’s degree in business, real estate, economics, urban planning or a related field.
The mission of the Chicago Community Loan Fund (CCLF) is to provide flexible, affordable and responsible financing and technical assistance for community stabilization and development efforts and initiatives that benefit low- to moderate-income neighborhoods, families and individuals throughout metropolitan Chicago.
CCLF was founded in 1991 by a group of visionary social-investment advocates. T...heir aim was to create a nimble, flexible nonprofit lender who would fill the community development credit gaps as they emerged across the city and region. In particular, CCLF was created to ensure that Chicago community development organizations (including small and emerging groups) would have a lender to turn to for harder-to-underwrite projects and enterprises.