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Portfolio Management Officer II

Company: Locus

Locations: Richmond, VA; Christiansburg, VA; Norfolk, VA

Job Function: Lending/Loan Operations

Background

About Locus

Locus (formerly VCC Social Enterprises) partners with communities where the capital system is not working to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving communities. A capital system that centers community input and impact is essential to making this a reality. Locus is a nonprofit holding company regulated by the Federal Reserve. Locus is the parent organization for a family of social enterprises, which includes Locus Bank, Locus Impact Fund, Locus Capital, and the Community Investment Guarantee Pool, or CIGP. Locus has generated over $2 billion dollars in total impact in local communities to create jobs, energize places, and promote an enhanced quality of life. With offices in Christiansburg and Richmond, Locus offers innovative and flexible financing tools and professional advisory services to individuals and organizations in low-to-moderate income and underserved communities. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors, along with personal and business checking, savings, and certificate of deposit accounts. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org.

Summary

The Portfolio Management Officer II in the Office of Credit Risk Management will be responsible for managing the lending portfolio, assessing and mitigating credit risk, and ensuring compliance with regulatory requirements. This role involves analyzing loan / investment applications and modification requests, monitoring portfolio performance, and implementing risk management strategies to maintain the financial health of Locus’ clients. The Portfolio Manager II will be responsible for coordinating with the Chief Credit Officer to establish standard of procedures around managing all of Locus’ portfolios including its direct loans, CIGP guarantees and other loan and guarantee programs that Locus manages for third parties. The role will also be responsible for remaining up to date on all regulatory guidelines across the aforementioned portfolios (e.g. including, but not limited to the CDFI Fund, ECIP, CRA and Capital Magnet Fund).

Responsibilities

  • Portfolio Management – The Portfolio Management Officer II will oversee the bank’s direct lending, CIGP guarantees and other loan and guarantee programs that Locus manages for third parties, ensuring quality and performance. The roles will also be responsible for conducting regular portfolio reviews to identify and address potential risks and opportunities.
  • Credit Risk Assessment – The Portfolio Management Officer II will evaluate new CIGP guarantee, investment and direct loan applications by performing thorough credit analysis and risk assessments. The role will work with lending officers and investment managers to structure new loan requests and ensure they meet regulatory and policy requirements.
  • Risk Mitigation – In conjunction with the Chief Credit Officer, develop and implement strategies to mitigate risk credit risk, including setting risk limits and diversification strategies. The Portfolio Management Officer II will monitor and manage delinquent loans, work closely with the head of investment and the CIGP guarantee program to ensure sound oversight.
  • Compliance – Ensure knowledge and compliance with the organization’s Credit Policy and federal regulatory compliance standards. Oversee and monitor the ordering and reviewing of appraisals and environment reports, ensuring compliance with federal regulators.
  • Special Assets Managements – Assist the Credit Risk Officer III in managing loans in the Special Asset portfolio. Develop and implement strategies to mitigate risks associated with distressed assets
  • Stakeholder Collaboration – Collaborate with internal teams, including management, lenders, investment officers, and operations, to ensure effective credit risk management. Engage with external auditors and regulators during reviews and examinations.
  • Reporting – Responsible for the execution of timely reporting surrounding the organization’s direct loans, CIGP guarantees and other loan and guarantee programs that Locus manages for third parties.

 

Management Responsibilities:

  • Recruits, interviews, hires, and trains direct report positions in the department.
  • Ensures adherence to the organization’s Diversity, Equity and Inclusion strategic plan.
  • Provides constructive and timely performance evaluations.
  • Handles discipline and termination of employees in accordance with company policy.

Requirements

Qualifications:

Experience/Education/Certifications

  • A minimum of 5-7 years relevant work experience in a credit risk management function to include commercial real estate and commercial and industrial lending.
  • Knowledge and demonstrated ability in portfolio management, credit analysis and regulatory compliance
  • Knowledge and demonstrated experience in construction loan management including appraisal review and federal regulations governing appraisal management.
  • Knowledge and demonstrated experience in environmental studies review.
  • Ability to apply previous banking experience and knowledge to a unique business model.

Computer/Technology:

  • Excellent Word, Excel, and Windows file management skills mandatory
  • Strong technical experience with Salesforce or other CRM tools
  • Demonstrated web research skills
  • Familiarity with Outlook or similar network-based email and calendar software
  • Extensive computer usage and Microsoft Teams communication
  • Must be able to work independently in a stable remote environment, if necessary

Communication:

  • Ability to communicate verbally across all levels of the organization in a clear, concise and confident manner.
  • Ability to write accurate, clear and organized communications, incorporating a range of information and analysis.
  • Ability to document workflow and procedures.

Compensation and Benefits

  • $105,000 – $110,000 annual salary, depending on skills and experience
  • 17 days of PTO per year 
  • 11 Paid holidays per year
  • Medical, dental, vision, short- and long-term disability insurance
  • 401k savings plan with employer match
  • Life Insurance
  • Hybrid Remote (for candidates within driving distance of Locus offices in Richmond or Christiansburg, Va.) 
For fully remote status, Locus prefers applicants from East Coast states where business relationships have already been established; they include  Virginia, New York, Florida, New Jersey, West Virginia, Georgia, North Carolina, Massachusetts, and Pennsylvania. Considerations may be given to candidates from other established states such as Nebraska, Colorado, Montana, Kansas, Tennessee, and Missouri.  
 
Equal Opportunity Employer Locus provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression or any other characteristic protected by federal, state or local laws.

How to Apply

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