Portfolio Manager - Resolution Strategist

Description

Title: Portfolio Manager – Resolution Strategist

Employee Status: Full Time-Exempt

Salary: Grade 4

Starts at $70,600 | Chicago 

Reports to: Manager, Resolution Strategies

Department: Capital Solutions

Location: Chicago, IL

Hybrid Remote: In office: T/W | Remote: M/Th/F

Department Function: Maintain a program of flexible loan products to targeted nonprofits; design programs to assist the target market obtain loans and needed financial assistance.

The Organization

IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Across the Midwest we help clients from every sector, including human service agencies, health centers, schools, affordable housing developers, and healthy food grocery operators. Staff contribute extensive business experience and an unrivaled connection to the mission of IFF to the clients we serve.

Equity, Diversity, and Inclusion

Partnering to create thriving communities is at the heart of everything we do. We leverage knowledge, capital, and resources to advance equitable and transformational outcomes in under-resourced communities, guided by our commitment to be an inclusive, anti-racist and anti-oppressive institution that honors communities as asset-rich and as experts in their own stories.

Basic Job Function

The Portfolio Manager – Resolution Strategist is responsible for the proactive management of IFF Watch Loans and Problem Loans post-close to monitor borrower compliance, identifying areas of risk, evaluating borrowers’ long-term viability/performance, and proactively mitigating potential defaults and loan loss.

IFF is looking for candidates with a commitment to the work we do who can demonstrate their creativity, diligence, enthusiasm, growth-mindset, thoughtfulness, and passion to make meaningful change in the areas of economic and racial justice.

Requirements

Core Responsibilities: 

1. Manage a portfolio of 15-20 problem loans, including:

• Actively work with assigned non-performing relationships and others with significant risk of becoming non-preforming. 
• Review credit and collateral files to understand IFF’s rights under the loan documents and adequacy of collateral documentation. 
• Maintain proper risk ratings per Loan Policy and best practices.
• Monitor delinquencies to resolve payment problems and other borrower related issues. 
• Formulate strategies and plans for relationships within the Resolution Strategies portfolio that:
• Deliver the most effective method for helping the customer succeed.
• Endeavor to return loans to performing status. 
• Minimize financial loss to IFF.
• Participate and make appropriate recommendations to loan committees and management. Communicate recommendations and updates to IFF’s participants and partners.
• Work with legal counsel on renewals and restructuring of credit relationships and to initiate any new loan documentation needed. 
• Provide periodic reviews of assigned credit relationships to validate the accuracy of risk ratings, borrowers' ability to repay, and collateral valuation. 
• Maintain borrower/asset information and documentation including loan files, Resolution Strategy reports and other databases.
• Perform periodic site visits to assess borrower’s financial health, collateral condition, and identify relationship issues and/or opportunities.

2. Under the direction of the Manager, Resolution Strategies maintain and monitor a list of Watch Loans, including the collection of comments and status notes from Portfolio and Asset Managers. Assist in the coordination, scheduling and running of the monthly Watch Loan Meeting.

3. Assist the Manager, Resolution Strategies, in conducting the quarterly Resolution Strategy Meeting. 

4. Manage relationships in a sensitive, respectful, courteous, and professional manner when working through difficult situations.

5. Demonstrates a commitment to equity, diversity, and inclusion. Promotes an environment of empathy and respect, ensures the inclusion of all team members, and will actively engage in EDI events and learning opportunities.

6. Perform other projects as assigned.

Performance Measures: 

1. Work effectively with borrowers experiencing financial difficulty to achieve mutually beneficial solutions.

2. Timely, accurate and comprehensive analyses and reporting

3. Accurate and thorough assessment of risk issues, optimal solutions, and costs to achieve, including costs to carry non-performing assets. 

4. Cultivate a culture of openness in information sharing. Encourage open communication, cooperation, and the sharing of knowledge. 

5. Model personal accountability that promotes ownership and engagement.

6. Build and maintain effective working relationships with colleagues, peers, team members, and customers.

7. Value and support differences in others, contributing to an inclusive and equitable 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.

8. High level of satisfaction with both internal colleagues and external contacts.

Position Qualifications:

Education: Bachelor’s Degree preferred in business, accounting, or finance. In lieu of degree, 3+ years of relevant experience.

Previous Experience:

1. Minimum of three years of experience in the areas of accounting, financial analysis, or credit analysis for commercial, industrial, and nonprofit organizations required. Commercial real estate experience a plus.
2.  Demonstrated competencies in:

• Commercial portfolio compliance disciplines and terminology,
• High-level credit and financial analysis,
• Underwriting policies and procedures, and
• Loan restructuring.

Special Knowledge & Skills:

• Familiarity with nonprofits including Charter Schools, Federal Qualified Health Centers, Social Service Agencies, Grocery stores, and Community Development Corporations.
• Knowledgeable in property and liability insurance, as well as property taxes.
• High level written and oral presentation skills.
• Solid Microsoft Office skills, with a focus on Excel and databases.
• Strong follow-up and execution skills.
• Ability to prioritize and meet deadlines.

Additional Requirements: Occasional evening and weekend work.

IFF does not offer the following:

• relocation package
• 100% remote
• provide sponsorship to applicants who require or will require a work permit.

Check off only some boxes in the requirements listed above. Studies have shown that marginalized communities - such as women, LGBTQ+ and people of color - are less likely to apply to jobs unless they meet every qualification. So, if you're excited about this role, we encourage you to apply.

Application Instructions: Please visit the Careers section of our website to apply online. A resume is required; a cover letter is greatly appreciated.

IFF values equity, diversity, and inclusion as part of its mission to strengthen nonprofits and the communities they serve. IFF is an equal opportunity employer and is committed to building and maintaining a culturally diverse workplace that is free of discrimination and harassment of any kind. We encourage women, minorities, individuals with disabilities and veterans to apply. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, veteran status, or any other status protected by the laws or regulations in the locations where we operate.