Senior Manager, Loan Servicing – Loan Operations (Commercial)

About Reinvestment Fund:

At Reinvestment Fund, we are dedicated to making a tangible difference in the lives of underserved individuals and communities. Our mission is to create opportunity for underserved people and places through partnerships. We marshal the capital, analytics, and expertise necessary to build strong, healthy, and more equitable communities.

As a federally certified community development financial institution (CDFI), our job is to make finance an agent of positive change and equitable growth. We provide loans, grants and technical assistance to businesses and nonprofits. Our borrowers and grantees educate students, support local economies, and create jobs. They build affordable housing and provide community goods and services that include access to nutritious food, hunger relief, physical and mental health care, and other social services.

About The Position:

Reinvestment Fund is seeking a Senior Manager of Loan Servicing to lead a team in the day-to-day loan servicing and credit administrative functions including loan compliance. The Senior Manager will oversee and act as administrator for the loan related systems, leveraging functionality to serve the business, and maintain adequate internal controls. This is an opportunity to work in a fast-paced environment leading a small, close-knit team servicing roughly 500 social impact loans across the United States.

Responsibilities:

• Create and maintain system configuration, building operational capacity using technology and data to meet the needs of the organization.
• Responsible for maintaining the data integrity and quality of operational loan data within the organization's data infrastructure by adhering data governance policies, understanding how the loan servicing system collects and stores data, and leveraging data extraction processes that drive operations and enterprise-wide reporting.
• Lead collaboration with internal stakeholders, creating alignment and monitoring business unit use cases. This may include cross-functional monthly meetings related to GL balancing, capital source management, and loan activity with internal stakeholders.
• Assign and monitor daily workflows for the loan servicing team – processing approximately 525+ transactions per month.
• Resolve escalated loan issues, leveraging expertise in servicing standards, internal policies and procedures, and data architecture to facilitate resolutions.
• Review and interpret complex legal credit agreements and related documentation, advising on loan structures, regulatory compliance, and servicing system compatibility.
• Create and maintain processes for business activities in the loan administration area.
• Ensure proper documentation and controls are in places to ensure risk is inherently minimized in process management.
• Monitor data validation guaranteeing accuracy in data and reporting used in business decision making.
• Supervise 3-4 direct reports, providing coaching and ensuring performance metrics.
• Establish quality control standards to maintain integrity between approval, loan documents and the Core System. Provide ongoing training to staff members including but not limited to procedures, volume, accuracy, and error matrix.
• Orchestrate with vendors to enhance job knowledge and coordinate updated system enhancements including the recommendation of systems functionally improvements.
• Maintain the collateral documentation and tracking for the life of the loan. Manage the release of collateral in compliance with loan terms and loan servicing procedures.
• Other duties as assigned.

EDUCATION, EXPERIENCE AND SKILLS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Requirements:

• High School Diploma and college-level coursework in accounting and familiarity with data/programming languages preferred.
• 8+ years of experience in commercial loan administration, with at least 1-3 years leadership experience required.
• Proven expertise in configuring, customizing, and administering loan servicing systems.
• Thorough knowledge of loan accounting principles, regulatory compliance, and loan operational standards.
• Experience managing general ledger activity and daily cash flow in collaboration with Accounting/Finance and the Controller.
• Proven experience supporting a loan portfolio north of $500M
• Experience in document review and loan modification, as well as presenting loan data cross-functionally
• Strong technical skills in loan system administration, control and risk management, audit processes, and legal loan documentation.
• Exceptional organizational skills and the ability to manage multiple projects efficiently and effectively and consistently meet deadlines.
• Ability to resolve conflicts independently as needed

Preferred Qualifications:

• Familiarity with the Jack Henry Suite of Lending Systems (Silverlake, Synergy, LoanVantage)
• Expertise in Microsoft Office (Excel, Word, etc.)
• Previous Experience with SQL

WORK LOCATION:

For this position, we will consider remote employees within the Eastern Time Zone, with a strong preference towards candidates in the Philadelphia, PA area or within a reasonable train commute (i.e. NYC or Washington, D.C.) to allow for occasional team-based face-to-face interactions. If a more remote employee is ultimately selected for the position, occasional travel to our Philadelphia headquarters we be required for all-staff meetings.

Compensation And Benefits

Reinvestment Fund offers a competitive salary based on experience and skills, as well as an excellent benefits package including employer-paid health, disability, and life insurance, 401(k) savings plan with employer match, flexible spending accounts (medical, dependent care and transportation), tuition reimbursement, paid time off, and EAP program.

The salary range for this position at commencement of employment is expected to be between $90,000 and $110,000/year, however, base pay offered may vary depending on multiple individualized factors, including market location, job-related knowledge, skills, and experience.

If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors.

Reinvestment Fund uses E-Verify to validate all new hires' ability to legally work in the United States and all new hires may be subject to a background check.

Reinvestment Fund is an Equal Opportunity Employer. We do not discriminate in hiring or employment practices based on race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disability, or status as a veteran. Reinvestment Fund is committed to belonging, culture and engagement throughout our organization and in our external investment practices.

Reinvestment Fund, Inc. has an affiliate, RF Impact Advisers, Inc. (“RFIA”) that is a state-registered investment adviser. In order to advance compliance with and prevent violations of federal and state securities laws and to avoid even the appearance of a conflict of interest, RFIA has adopted a Code of Ethics to govern certain conduct of its staff, including certain staff of Reinvestment Fund because Reinvestment Fund is an advisory affiliate of RFIA. As part of this Code of Ethics, there are specific personal reporting and other requirements and disclosures of personal financial and/or securities transactions information for certain individuals, and this reporting may extend to your household members.