Vice President – Senior Portfolio Risk Manager
Company: Invest Detroit
Location: Detroit, MI
Job Function: Lending/Loan Operations
Background
Invest Detroit is a mission-driven lender, investor, and partner working to ignite inclusive economic growth in underserved Detroit communities and across the region. A leading Detroit-based Community Development Financial Institution (CDFI), we bring 25+ years of experience acting as a catalyst for economic development and investment, providing critical gap financing through real estate development, commercial lending, and venture capital. We have deployed over $593M to date.
Our team is a hard-working, supportive group that is passionate about our mission and believes strongly in equitable opportunity, diversity, and respect. We believe that through partnership, tenacity, creativity, and drive, we can help to improve access to opportunity and an overall better quality of life for all Detroiters.
For more information on Invest Detroit, please visit the Invest Detroit website.
Summary
Reporting to the Senior Vice President, Credit & Portfolio Risk Management, the Senior Portfolio Risk Manager will be responsible for independently managing a portfolio of loans consisting of small business, commercial and industrial, real estate, and construction loans; including but not limited to monitoring changes in the risk profile of the borrower, completing annual reviews, testing loan covenants, quarterly analysis for troubled loans, and completing modifications requiring external loan committee approval.
Responsibilities
Oversee the performance of loans as assigned.
• Provide quality customer service at all points of contact with Invest Detroit borrowers as well as answer questions and advise customers, when necessary.
• Manage loan covenant compliance, including financial statement collection, performing quarterly and/or annual covenant compliance checks, and following up with borrowers in the case of covenant violations.
• Prepare consistent and accurate analyses during loan events such as annual loan review, modifications, or defaults.
• Prepare annual reviews that identify trends and keep various stakeholders apprised of portfolio performance and of any identified concerns.
• Prepare quarterly loan analysis for all troubled loans in the assigned portfolio.
• Collaborate with the lender, portfolio management, and loan accounting to 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.
• Review and spread any interim or annual financial information when required.
• Build and maintain effective working relationships with colleagues, peers, and partner organizations.
• Value and support differences in others, contributing to an inclusive work environment. Demonstrate the ability and willingness to communicate effectively with people of diverse backgrounds and experiences to create a collaborative, collegial, and caring community.
• Accept special projects in support of the team and community involvement.
Requirements
• Formal commercial credit training strongly preferred.
• Bachelor’s degree in business, accounting, or finance, and 5 years of experience in commercial lending with a focus on portfolio management, commercial real estate, and construction lending. In lieu of a degree, 10+ years of relevant experience.
Specialized Skills – Required
• Experience creating and communicating credit, investment, or real estate analysis – formal writing and oral presentation to various stakeholders.
• Familiarity with construction and lending practices and terminology.
• Ability to effectively synthesize information, organize logical arguments, and summarize key points.
• Experience performing financial analysis and modeling in Excel.
• Strong experience in analyzing complex financial statements and tax returns.
• Experience interpreting legal documents such as leases, mortgage notes, contracts, etc.
• Experience reviewing construction budgets, project plans, appraisals, inspection reports and other real estate documents.
• Ability to draw conclusions from financial and market data to make sound recommendations regarding ongoing loan management.
• Comfortable interfacing data between various computer applications and systems.
Specialized Skills – Preferred
• Experience with Salesforce, Moody’s, and TEA (loan accounting software).
Compensation and Benefits
Invest Detroit offers a competitive salary (Senior Portfolio Risk Manager for $90,000 to $115,000) and benefits, commensurate with experience and skills. Invest Detroit is an equal opportunity employer committed to diversity in the workplace.
How to Apply
Please forward your resume and cover letter, outlining how your skills and experience meet the qualifications of the position to Resume@investdetroit.com. Please include “Senior Portfolio Risk Manager” in the subject line and indicate how you heard about this opportunity in the email.