Lending Manager/Director
Lending Manager/Director is responsible for overall loan fund management and oversight of the credit and portfolio team. This includes loan processing, closing, loan servicing, and all internal and external reporting functions. The Lending Manager/Director will maintain and/or improve a set of policy and procedures that will govern the lending operation of the program as well as ensuring the compliance of all relevant credit guidelines and regulations. He/She will be performing and overseeing the day-to-day lending operation which shall include underwriting, credit risk reviews, data collection and all required reporting preparation. He/She will communicate with the credit team to promote efficient and correct work flow in order to meet organizational goals. He/She will act as the representative of the organization in cultivating and maintaining collaborative working relationship with referral partners, bankers, loan committee members and community partners.
Overview
- Location: New York, NY
- Industry: Nonprofit Charitable Organizations
- Employer: Asian Americans for Equality
Job Description
DESCRIPTION
Renaissance Economic Development Corporation (REDC) is a 501(c)(3) nonprofit organization whose mission is to transform low-to-moderate income and immigrant communities in New York City by providing low-interest loans, training and counseling services. REDC is an affiliate of Asian Americans for Equality, one of the country’s leading community development nonprofits. As an organization deeply rooted in the neighborhoods it serves, REDC works hand-in-hand with local business owners to ensure their long-term success. We are a US Treasury certified Community Development Financial Institution (CDFI), SBA Intermediary Microlender, and SBA Community Advantage (7a) lender.
Position Summary:
Lending Manager/Director is responsible for overall loan fund management and oversight of the credit and portfolio team. This includes loan processing, closing, loan servicing, and all internal and external reporting functions. The Lending Manager/Director will maintain and/or improve a set of policy and procedures that will govern the lending operation of the program as well as ensuring the compliance of all relevant credit guidelines and regulations. He/She will be performing and overseeing the day-to-day lending operation which shall include underwriting, credit risk reviews, data collection and all required reporting preparation. He/She will communicate with the credit team to promote efficient and correct work flow in order to meet organizational goals. He/She will act as the representative of the organization in cultivating and maintaining collaborative working relationship with referral partners, bankers, loan committee members and community partners.
Key Duties and Responsibilities:
• Responsible for reviewing underwriters’ loan credit summaries and analysis and provide feedback.
• Ensure underwriters are producing quality loans using proper credit risk metrics.
• Ability to analyze and calculate figures and amounts on complex loan transactions.
• Responsible for production, efficiency, quality and recommended loans by the credit team.
• Conduct regular reviews of loan applications to ensure credit team is following credit policy and procedures.
• Reviews all approved loans and loan commitments.
• Reviews and audits all loan closing files and documents before loan is closed and disbursed.
• Ensure lending staff is provided with updates and procedural changes.
• Successfully interact with credit team to improve accuracies and efficiencies.
• Oversea portfolio management reports and assesses the overall risk of the loan portfolio.
• Supervise portfolio management by reviewing loan receivables, delinquencies, and charge-offs.
• Supervise all aspects of the loan fund which includes posting of payment, payoffs, draw request, and disbursing loan funds.
• Review and be responsible for timely preparation of management reports, funder reports and other various reports.
• Provide lending and impact data to development team in a timely matter.
• Participates in the review and recommendations of operational systems and procedures.
• Interviewing, hiring and training employees; planning, assigning, and directing work; employee performance management; addressing complaints and resolving problems.
• Able to build morale and group commitments to the organization’s goals and objectives
• Follows policies and procedures, completes administrative tasks correctly and on time, supports organization’s goals and values
• Maintains the highest level of confidentiality with all information obtained.
• Meets expectations for attendance and punctuality.
• Perform other related work and duties as assigned
JOB REQUIREMENTS:
• Bachelors Degree and/or Masters Degree
• 5+ years of loan underwriting experience in small business lending.
• Excellent knowledge of local businesses and resources
• Experience working with database, CRM, Accounting, loan and or portfolio software system
• Has worked with low income individuals and diverse communities
• Demonstrated ability to multi-task, perform under pressure, and flexibility to meet deadlines
• Proficiency in Microsoft Office
• Bilingual skills in Chinese or Spanish is highly desirable
COMPENSATION:
Depends on experience. Excellent health benefits with paid vacation, holidays, sick days, and personal days.
