Job Summary: Cinnaire Corporation, seeks a Vice President, Loan Administration reporting to office in Lansing, MI to administer and perform CLC’s existing portfolio of affordable housing and community development loans, meeting the needs of borrowers while ensuring compliance with all investor and stakeholder requirements and promoting sustainable repayment outcomes.
Essential Responsibilities:
- Oversee monthly, quarterly, and annual post-closing loan processes, including but not limited to invoicing and payments, investor and loan participant remittances, loan draws, loan payoffs, borrower reporting, loan reviews, covenant compliance, escrow and reserve management, and tax forms.
- Approve draw requests and post-closing loan disbursements.
- Manage the loan administration staff, establishing annual goals in alignment with CLC and Cinnaire Corporate strategic goals, assigning work to ensure the efficient use of staff resources, planning for adequate staffing capacity based on the growth and complexity of the loan portfolio, and coach staff to facilitate professional and career development.
- Manage lending risk by ensuring accurate tracking of post-closing loan data and vigilant monitoring of trends or concentrations in the loan portfolio.
- Perform periodic stress tests to support scenario planning or identify potential portfolio weaknesses.
- Manage CLC’s watch list process and provide guidance to Senior Loan Portfolio Managers on loan extensions, modifications, and workouts.
- Seek creative, win/win solutions for problem loans that align with CLC’s mission and desired impact.
- Maintain productive and responsive business relationships with investors, loan participants, borrowers, attorneys, and third-party vendors and service providers.
- Proactively engage with investors, borrowers, and other partners to resolve problems when needed.
- Establish expectations for customer support, including response times and escalation criteria.
- Provide timely and accurate financial and loan/portfolio performance reports to Cinnaire and CLC’s Executive Teams, the CLC Board of Directors, investors, and other stakeholders.
- Attend quarterly CLC Board meetings to present portfolio results.
- Lead the ongoing development and improvement of post-closing loan administration processes, engage loan administration teams in continuous improvement efforts and ensuring processes are accurately documented in loan procedure manuals.
- Work closely with internal stakeholders such as Finance, Operations, IT, and Impact Strategies, soliciting their input on processes that affect their teams and making sure CLC is responsive to their needs for loan portfolio information.
Qualifications and Requirements:
- Master’s degree in Accounting, Business Administration, or a foreign equivalent
- At least two (2) years of experience as an analyst utilizing all of the following while managing lending portfolio totaling over $200 million: Microsoft Dynamics 360; MRI; LFN; McCracken Strategy; Acumatica; Fannie Mae DUS 360 system; cash flow forecasting; Set pricing (determine interest rate and fees based on risk and impact factors); track and report information that are required by the CDFI Fund; credit risk assessment; DSCR (Debt Service Coverage Ratio) calculation; stress testing & portfolio analysis; advanced financial modeling; valuation & underwriting by understanding discounted cash flow (DCF).
- Work from home telecommuting permitted within a 2-hour commuting distance from Lansing, MI and ability to appear at the office on notice.