Senior Director, Loan Closing and Portfolio Officer
Posted on Oct 29, 2021 by Greater Cleveland Partnership
The Senior Director, Loan Closing and Portfolio Officer is part of a team of finance professionals of Cleveland Development Advisors (CDA) responsible for closing new loans and asset management of its portfolio of real estate investment funds.
- Act as the closing agent for new CDA loans to ensure loans are closed as approved in underwriting by board of directors and within CDA Investment Underwriting Guidelines & Portfolio Risk Management Policy requirements, and program requirements (including new market tax credit program (NMTC) and CDFI Program).
- Coordinate all closing activities, checklists and collect necessary documentation required for closing and participate in project loan closing calls.
- Review legal documents and work closely with CDA counsel to ensure that all closing documents, including loan documents and community benefits agreements, incorporate CDA Investment Underwriting Guidelines & Portfolio Risk Management Policy requirements; NMTC and CDFI Program requirement; any grant funding requirements and/or investor requirements, are incorporated.
- Communicate with senior management when proposed requirements or approvals for the loans cannot be met.
- Oversee the daily monitoring, reporting and compliance of the overall CDA investment portfolio to:
- Maintain accurate database of individual loan reporting requirements for direct loans.
- Assist in preparation of portfolio reports for submission to Board of Directors.
- Assist in preparation of quarterly investor updates for loan funds and NMTC projects
- Oversee and review preparation of the semi-annual loan loss analysis and reserve establishment of investments before presentation to senior management and Investment Review Committee.
- Assist in the ongoing monitoring and review of CDA Investment Underwriting Guidelines & Portfolio Risk Management Policy to ensure that updates incorporate compliance and impact requirements.
- Assist CDA Outreach and Underwriting Team as it relates to necessary compilation and maintenance of industry reports and market data trends used to assist in underwriting process
- Oversee and lead the loan monitoring and review process for construction draw requests to ensure required documentation is obtained for submission for loan funding.
- Assist and prepare, as needed, loan modification action items to be presented to the CDA Board of Directors
- Assist in the preparation of loan portfolio updates presented to CDA Investment Review Committee and Board of Directors
- Build, cultivate and maintain positive working relationships with project sponsors, borrowers, investors, co-lenders, consultants, and community professionals to support and advance CDA's mission
- Assist with special projects, such as preparation of supplemental schedules needed for applications, investor meetings, board meetings, etc.
PREFERRED EDUCATION, EXPERIENCE AND SKILLS:
- Paralegal certificate or bachelor's degree in accounting, finance, real estate or related field.
- Minimum of 5 years of relevant real estate loan closing experience.
- Strong communications, analytical, decision making, organizational, follow-up and customer service skills.
- Attention to detail with the ability to prioritize in high-volume environment.
- Knowledge of the CDFI and New Market Tax Credit industry a plus.
- Ability to adapt approach, strategy and tactics rapidly in response to changing information and program needs
- Ability to analyze and improve processes and procedures.
- Ability to make suggestions for problems or concerns.
- Excellent written and verbal communication skills.
- Strong interpersonal communication skills (diplomacy, tact, eg)
- Strong facility with computer programs essential to business communication (particularly Word, PowerPoint, Excel and other Microsoft Office programs; and loan program software).