Loan Management & Portfolio Director

Background

The Leviticus 25:23 Alternative Fund is rooted in faith and the call for economic justice. The Fund provides flexible capital, expertise, and advocacy to propel the growth of more equitable and sustainable communities. Leviticus creates opportunities for vulnerable, low-income people – especially those harmed by systemic racial and ethnic discrimination – to thrive and live with dignity. 

Our flexible loans assist the pre-construction, construction, and permanent phases of (i) affordable housing of various types; (ii) childcare and early learning centers; (iii) nonprofit-owned community facilities used for program delivery; (iv) community economic development projects; and (v) charter public schools. Leviticus is also commited to decarbonizing and upgrading the energy efficiency of existing and new buildings owned by nonprofits and located in disadvantaged communities. Our target market is all counties in NY, NJ and CT, and we also make loans in MA, VT and PA. 

Summary

Leviticus has grown from $19 million fund at the start of 2014 to over $110 million today, and we continue to see significant demand from nonprofit housing and community development organizations for our capital and expertise. As a result, we expect our loan portiolio to steadily grow in the coming years in both the number of loans and the dollars outstanding. 

To respond, we are creating a new position that will have a dedicated focus on managing the commitment, closing, disbursement and repayment of new loans and the ongoing review and assessment of the existing loan portfolio. The Loan Management and Portfolio Director (LMPD) will lead this work and will supervise two existing, experienced staff. She or he will have the authority to hire at least one additional staff member for the team within twelve months after starting the position. We are open to candidates who are creative, results-oriented and passionate about our mission. 

Applicants should share a passion for the Leviticus Fund’s mission and possess the skills to meet the expectations of this role. Specifically, we are seeking an individual who has a strong interest in community development that serves low-income individuals and families, is a team player, and is a creative problem solver. This position requires the ability to travel for department and staff meetings in Westchester County, NY.

Responsibilities

Under the supervision of the Executive Director, and working closely with the Director of Lending while supervising the Loan Manager, the LMPD will oversee the closing, disbursement, portfolio review and repayment of all Leviticus loans. The LMPD will have a variety of responsibilities, including: 

• Loan Closing Management
  • Prior to loan closing, collect and review all (i) legal counsel generated loan documentation and (ii) third party generated closing documents to ensure accurate incorporation of all loan and project-specific terms specified in the credit memo and loan approval process.
  • In close coordination with the Loan Manager, (i) determine which legal counsel will represent Leviticus in the closing of each loan, and (ii) oversee management of each loan closing and be a point of contact to investment officers, legal counsel, borrowers and external partners.
  • Work with Leviticus investment officers and legal counsel to ensure all loan closing conditions have been satisfied and approved by appropriate and authorized parties to the transaction, all in accordance with the approved credit memo.
  • Review loans to ensure inclusion and adherence to appropriate insurance requirements (e.g., liability, property, title) specified in Leviticus’ guidelines.
  • Ensure all checklist items required to be satisfied at or prior to closing have been satisfactorily completed, including review of all material documents.
  • Oversee preparation of a post-closing memo for internal distribution. 

• Loan Disbursement Management
  • Work with Leviticus Loan Manager and legal counsel, in consultation with Investment Officers, to ensure all disbursement conditions have been satisfied and approved by appropriate and authorized parties to the transaction, all in accordance with standard procedures and any disbursement conditions contained in the loan agreement.
  • Coordinate with the Finance Team on funding of disbursements required at loan closing and throughout the loan term.
  • Coordinate with Finance Team on payment processing and internal/external general queries. 

• Loan Portfolio Management
  • Undertake, with the loan closing and management team, the annual review of loans and loan risk ratings, in accordance with Leviticus’ loan review procedures.
  • Separate from the annual loan review, oversee the periodic review and analysis of the condition and risk rating of any loan having payment issues or projects having performance issues.
  • Proactively identify loans that show signs of deterioration in credit quality and work with the Director of Lending to develop strategies to support the borrower and mitigate the risk of further deterioration and loan loss.
  • In coordination with the Director of Lending, structure loan extensions, modifications and restructurings as needed, and provide technical assistance and other Leviticus resources to a borrower, as appropriate.
  • Oversee tracking of property and liability insurance policies for all outstanding loan projects, ensuring these policies are in place and issued in accordance with Leviticus’ requirements.
  • Oversee collection of other items pertinent to project and loan agreement compliance and adherence to the development timeline. 

• Loan Systems and Enterprise Software Experience
  • Work with the Finance teams to set up new loans in the loan management (TEA) and CRM (Salesforce) systems.
  • Work with the Finance and Compliance & Impact Measurement teams to ensure adequate performance of loan tracking systems. 

• Relationship Management – Develop and nurture relationships with new and existing borrowers. 

Requirements

• Minimum five years of experience in closing, disbursing and portfolio monitoring commercial loans to nonprofit or for-profit profit real estate developers (experience only closing single family loans to individuals purchasing or refinancing homes is not sufficiently relevant.) 
• Commercial real estate experience of three or more years as a lawyer or paralegal practitioner is a significant plus.
• Professional work experience in the nonprofit or financial services industry and proficient in credit analysis and loan structuring is a plus.
• Experience and knowledge of the community development finance (CDFI) industry is a plus.
• Strong relationship-building approach with the ability to balance Leviticus’ needs as a lender with a service-orientation toward our nonprofit borrowers and the people and communities they are serving.
• Strong project management skills with demonstrated success in managing multiple tasks in connection with real estate lending; experience closing and managing construction loans is a plus.
• Demonstrated success in project and deadline management with strong attention to detail.
• Demonstrated capacity to independently track and fulfill responsibilities, and to manage a small team and prioritize multiple project requests.
• A cooperative, flexible attitude, a good sense of humor, and an ability to work with a variety of personalities in a team setting.
• Excellent communications and writing skills.
• Proficiency in Microsoft Office 365.
• Experience with SharePoint, Salesforce and TEA a plus. 

This position is based in Tarrytown, New York (Westchester County). Candidates residing in the NYC metropolitan area are preferred, though flexibility will be considered for strong candidates. The position requires the ability to travel to various meetings in the NYC metropolitan area. 

Compensation and Benefits

Leviticus offers a competitive salary and generous benefits, including an up to 10% employer match to a 403(B) plan, plus annual paid time off beginning at 25 days per year, increasing by a PTO day each year of employment up to a total of 30 PTO days per year. The starting salary for the LMPD will be commensurate with alignment of the successful applicant’s experience with the job requirements. We negotiate actual salary with final candidates. 

How to Apply

Please submit a letter of interest, resume, and salary requirements to [email protected]. Salary requirements must be provided to be considered.