Asset Manager

About the role

Mascoma Community Development - Responsible for asset management of New Markets Tax Credit projects receiving NMTC allocation from closing through completion of the NMTC compliance period. Additionally, the Asset Manager negotiates and implements required changes to asset structures during the life cycle of each transaction and manages the unwind process at the back end of each NMTC transaction’s life cycle.

Mascoma Bank - Community Development Lending Department - Responsible for management and review of a tax credit loan portfolio made through Mascoma Bank that includes projects using New Markets Tax Credits, Historic Tax Credits, and Low-Income Housing Tax Credits. Additionally, the Asset Manager negotiates and implements required changes to asset structures during the life cycle of each transaction and manages the unwind process at the back end of each transaction’s life cycle, as applicable.

Essential Functions And Responsibilities

• Directs the pre- and post-closing transition of projects from the Lending/Investment Team to Asset Management, including monitoring and follow-up on all post-closing terms and requirements for each asset, including outstanding closing items;
• Works with originating lenders to ensure adequate documentation for debt service coverage ratio definitions;
• Negotiates construction monitoring agreements with all parties to transaction;
• Ensures Loan Agreement Schedules adequately document disbursement requirements and match Financial Projections modeling the transaction;
• Negotiates escrow and disbursing agreements with all parties to transaction;
• Reviews pre-closing documents and provides input to Lending/Investment Team to ensure accuracy of documentation;
• Ensures that all sources of funding for each transaction are received and disbursed at closing and subsequent to closing, as applicable;
• Maintains and updates credit file, as requested by the responsible loan officer;
• Manages all Borrower requests for amendments, modifications, release of collateral or restructurings;
• Works with originating lenders to structure and close any approved project refinancing.

General Portfolio Management Duties

• Provides exceptional customer service to his/her customer base;
• Works with team members to effectively resolve problems and address customer needs in a timely and professional manner;
• Maintains and updates credit file, as requested by the responsible loan officer;
• Works proactively with delinquent and/or deteriorating credits.

Core Competencies

• Customer Experience - Building strong relationships and delivering customer-centric solutions;
• Buils Networks - Effectively building relationship networks inside and outside the organization;
• Communicates Effectively – Communicating clearly and in a way that supports the needs of different audiences;
• Financial Acumen – Understanding and applying knowledge of key performance indicators to make better business decisions;
• Regulatory Awareness – Understanding how the various components of banking inter-relate with current state and federal regulatory requirements;
• Decision Quality - Making data-driven decisions; striving for balance between risk and reward to seize opportunities that keep the organization moving forward;
• Instills Trust - Gaining the confidence and trust of others through honesty, integrity, and authenticity;
• Manages Ambiguity - Operating effectively, even when things are uncertain, or the path forward is unclear.

Why Mascoma Bank?

• Strong culture of belonging with a team that values creativity, new perspectives, and innovation;
• Community first minded. We care about our employees and the communities we serve;
• Competitive compensation;
• Career development and internal career mentorship;
• Comprehensive health care, dental care, and vision;
• 401(K) Program: 4% safe harbor employer match on top of 5% non-elective contributions following one year of service;
• Tuition Reimbursement;
• Student Loan Paydown and so much more!