Senior Asset Manager

🕒 July 21

🇺🇸 United States – Remote

💵 $105k - $130k / year

⏰ Full Time

🟠 Senior

👔 Manager

👻 Ghost score 34%

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Local Initiatives Support Corporation (LISC)

WebsiteLinkedInAll Job Openings

201 - 500 employees

Founded 1979

🏥 Healthcare

🏗️ Construction

💼 Consulting

Healthcare • Construction • Consulting

Local Initiatives Support Corporation (LISC) is a non-profit organization dedicated to enhancing communities by connecting local groups in the United States with capital and technical expertise. LISC provides flexible lending products to support underserved borrowers and aims to uplift communities through investments in affordable housing, economic development, health, education, and green development. It also emphasizes the importance of building resilient and inclusive communities, partnering with corporations, foundations, and individual donors to bring about these changes. LISC is involved in a variety of program areas including child care, small business support, safety and justice, and sports and recreation, highlighting a comprehensive, community-driven approach to development and capacity building.

📋 Description

• Manage an assigned portfolio of approximately 60 mission-driven real estate and community development debt and equity investments • Serve as primary relationship manager and point of contact for borrowers throughout the life of each investment • Monitor borrower performance through financial statements, operating results, property cash flows, rent rolls, budgets, and portfolio reporting • Compare portfolio performance with underwriting assumptions and investment projections; identify variances, risks, and intervention opportunities • Review loan documents for covenant, reporting, insurance, tax, maturity, and other credit-condition compliance • Verify loan balances, accrued interest, servicing activity, and other financial information • Review servicing reports and payment activity for delinquencies, payment trends, and discrepancies • Conduct periodic site visits and annual portfolio reviews • Prepare portfolio analyses, loan summaries, impairment analyses, asset performance reports, risk ratings, and fund reporting materials • Maintain accurate portfolio data, documentation, and audit-ready records • Manage watchlist, non-performing, and defaulted loans • Develop risk mitigation strategies and structure, negotiate, and administer loan modifications, amendments, extensions, forbearance agreements, and workouts • Support foreclosure, collateral enforcement, and other resolution strategies • Collaborate with Underwriting, Construction Management, Loan Administration, Fund Management, Legal, and Servicing • Review non-construction disbursement requests • Present portfolio updates and asset performance analyses in internal review meetings • Provide technical guidance and mentorship to Asset Managers and Asset Management Analysts • Contribute to process improvements, portfolio standards, and asset management best practices • Travel less than once per month, up to 15% annually

🎯 Requirements

• Bachelor's degree in Finance, Real Estate, Business Administration, Accounting, Economics, or related field from an accredited college or university • Minimum of 6 years of experience in loan asset management, with at least 2 years in non-consumer or commercial lending • Experience managing debt and equity investments within real estate funds • Experience analyzing commercial real estate financial statements, property operating performance, and borrower cash flows • Experience managing commercial loan portfolios throughout the life of the investment, including ongoing borrower communication and portfolio monitoring • Experience with watchlist assets, workouts, foreclosures, or special asset management • Experience reviewing loan documentation and monitoring compliance with loan agreements and credit requirements • Experience with commercial loan restructurings, amendments, extensions, or modifications • Strong financial analysis skills, including experience validating loan balances, accrued interest, and servicing activity • Familiarity with affordable housing finance and tax credit programs, including LIHTC, NMTC, or HTC • Advanced proficiency in Microsoft Excel • Excellent written and verbal communication skills • Ability to build productive borrower relationships and present portfolio recommendations to leadership • Ability to independently manage multiple complex assets while exercising sound judgment and attention to detail • Demonstrated commitment to LISC's mission and ability to balance prudent portfolio management with community impact objectives • Experience in community development finance, CDFIs, or other mission-driven lending organizations preferred • Experience using Smartsheet and portfolio management systems preferred

🏖️ Benefits

• Medical, Dental, Vision Coverage • Disability Insurance, including long-term and short-term coverage • 401(k) and 403(b) retirement savings plans • Generous holidays • Vacation, PTO, and sick days • Tuition assistance • Referral program rewards • Professional development opportunities • Ongoing training and development programs