Director, Asset Management

Portfolio Credit Management

• Assign loan portfolios to Asset Managers and evaluate progress and quality control
• Manage Credit Committee
• Ensure modifications, credit reviews, and site visits are being performed thoroughly, timely, and in accordance with procedures by AM Staff
• Support AM Staff in securing ongoing training in areas such as construction lending, accounting, and charter school management
• Lead the monthly cross functional meetings that monitor delinquent and past due loans and plan for upcoming maturities
• Ensure that the Asset Managers are addressing delinquencies from past due maturities and that upcoming maturities are properly planned for in order to minimize delinquencies stemming from matured loans
• Ensure that Asset Management team is meeting its responsibilities as outlined in the CFDLM Procedures
• Collaborate with CO and/or CCO to ensure LIIF's complete portfolio of acquisition, predevelopment, construction, and permanent loans is well-managed by Asset Management staff

Staff Management

• Provide direct training and coaching so to develop Staff strengths, address any performance issues, and affirm achievements
• Manage performance reviews, time-off approvals, expense reports, time sheets, office space, etc. for direct reports
• Help cover Asset Manager portfolio responsibilities in the case of leave, absence, or turnover
• Makes efforts to improve retainage and employee engagement
• Lead hiring, onboarding, performance improvement plan, and termination process for these positions
• Monitor workloads and support efforts for ongoing professional development and training

Asset Management

• Loan Monitoring – Prepare credit reviews for each loan on a regular schedule to review overall asset and credit quality, including performance against original underwriting expectations
• Develop strategies and structure solutions for managing special attention and delinquent loans with the Asset Manager
• Design strategies and structure solutions for managing special attention and delinquent loans with the Asset Manager
• Facilitate information exchange on policy, economics, or events that may affect the portfolio

Construction Disbursement Management

• Review and approve the construction draw packages prepared by Loan Administration for those construction loans in their portfolio
• Ensure LIIF construction funds are disbursed in compliance with loan documentation, loan budget, lien law, and designated timelines
• Monitor the construction budget and timeline, and take proactive steps to support on time and on budget project delivery

Site Visits

• Conduct regular site visits and prepare site visit reports for loans in their portfolio in accordance with lending procedures

Special Attention Loans

• Work in collaboration with the Special Assets Manager, the Credit Officer and Chief Credit Officer in managing special attention or delinquent loans in their portfolio including but not limited to:
• Conducting site inspections, appraisal reviews, borrower and project financial analyses
• Participating in developing loan restructuring strategies and alternatives
• Making compliance with loan restructure agreements, and preparing monitoring reports and action plans

Loan Workouts

• Assign transactions that are loan workouts to the Special Assets Manager
• Conduct thorough credit analysis of the loan, including researching loan history, reviewing existing loan documentation, and analyzing financial statements of the borrower and, where applicable, the real estate asset
• Propose and implement an action plan and workout strategy for each troubled loan

Portfolio Data Collection and Reporting

• Collect and provide portfolio credit data and analysis in support of audits and reports managed by Funds, Finance, and Originations teams such as those for S&P, DOE, and the CDFI Fund

Underwriting Loan Extensions and Modifications

• Direct Asset Managers in the design of loan extensions and modifications and be responsible for any required loan extensions and modifications in their portfolio
• Conduct an analysis of the credit and then make and support a recommendation as to the extension or modification terms and conditions, if an extension or modification is deemed appropriate

Conversion

• Oversee Asset Manager’s conversions and manage conversion of loans from product type, which may involve updated credit underwriting and loan closing

Customer Service

• Maintain a positive and professional relationship with LIIF colleagues and LIIF customers and business partners (which include third party lenders, attorneys and other external parties such as appraisers)
• Initiate and respond promptly to all requests in a responsive, consistent, and accurate manner