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Asset Manager, Small Business/Real Estate
| Hours | Full-time, Part-time |
|---|---|
| Location | New York, New York |
About this job
What We Do
With residents and partners, LISC forges resilient and inclusive communities of opportunity across America - great places to live, work, visit, do business and raise families.
Strategies We Pursue
- Equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities.
- Invest in businesses, housing and other community infrastructure to catalyze economic, health, safety and educational mobility for individuals and communities.
- Strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places.
- Develop leadership and the capacity of partners to advance our work together.
- Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.
Since 1979, LISC and its affiliates have invested approximately $29.7 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment, and other projects that help to revitalize and stabilize underinvested communities. Headquartered in New York City, LISC's reach spans the country from East coast to West coast in 38 markets with offices extending from Buffalo to San Franciscoand in 2,400 rural counties across 49 states and Puerto Rico.Visit us at
LISC STRATEGIC INVESTMENTS
The LISC Strategic Investments team leads the design, development, and deployment of impact investment funds in LISC's local markets and nationwide. Strategic Investments employs an "impact first" investment methodology that optimizes the impact on the communities we care about while achieving sustainable risk-adjusted returns for investors.
The unique power of LISCs local office presence combined with the strength of our national investment expertise is a powerful combination for creating real impact in the communities we serve. This network requires careful coordination between Strategic Investments, the LISC Local Offices, and other stakeholders within LISC. While many groups within the LISC organization support fund management activities, the Strategic Investments team is ultimately responsible for ensuring a successful track record for LISC's off balance sheet fund investments. Visit us at
ABOUT THIS ROLE
The Strategic Investments team has been organized into functional expertise groups that lead and support the activities necessary to design, raise, deploy, manage impact funds, and develop new investment strategies. Those functional groups are listed below:
- Fund Design & Modeling - initial fund concept design and modeling, market testing
- Fund Development - raising money from investors for the fund
- Fund Deployment - creating the investment origination strategy and managing the underwriting and investment process
- Fund Management - managing the performance of existing investments and conduit funds, oversight of financial statements & impact reporting
- Capital Innovation Lab - leads the charge in developing new investment strategies via pilots, programs, and initiatives.
This role will support the Fund Management function. More specifically, the Asset Manager position will focus on managing the performance of fund investments (projects & borrowers) through the timely collection of financial and impact data and proactive engagement of potential issues preferably well before those issues effect the performance of the fund. The funds invest in business and real estate assets and this role will either support a full business portfolio or a full real estate portfolio. Please specify in your application which asset category you would like to be considered for.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The following are an indication of the position's core responsibilities; these are intended to illustrate the scope of responsibilities and are not exclusive of other duties that may be required.
- Collect monthly, quarterly, and annual reports from investees.
- Identify, prioritize and engage in problem solving with investees, internal teams, and offer recommendations when issues arise.
- Ensures the accuracy and maintenance of investment records and files. Maintains internal record keeping and track investment progress.
- Write annual performance reports, including risk analysis.
- Analyze financial statements and overall investment performance against underwriting projections, and identify potential investment performance and payment issues.
- Prepare amendments and waivers as necessary.
- Produce investor reports and provide all required reporting within the designated timeframe.
- Support with investor questions regarding performance and one-off requests for analysis.
- Oversee Loan Loss Reserve claims process including liaising with agencies and CDFIs to review and submit claims and confirm payment.
- Oversee loan modification process including liaising with CDFIs to review documentation and revised payment files.
- Conduct check-in calls with investees to determine the status of their projects and review financial statements.
- Perform all other duties as assigned.
MINIMUM QUALIFICATIONS
- Bachelor's degree from an accredited college or university
- Minimum three (3) years of non-consumer lending experience, preferably in banking/finance or community development
- Working knowledge of real estate and/or business lending preferred
- Extremely detailed oriented and able to self-manage daily activities and deadlines
- Financial analysis skills for income statements and balance sheets
- Ability to interpret loan documentation related to reporting requirements and default process
- Strong relationship skills
- Experience with defaults and work-outs a plus
- Experience with tax credit incentive programs such as HTC, LIHTC, or NMTC a plus
LOCATION & COMPENSATION & TRAVEL
LISC offers a competitive salary(86,700 - $102,000) and excellent fringe benefits. This position is expected to travel infrequently.
Actual salaries may be based on several factors including, but not limited to, a candidate's skill set, experience, education, work location and other qualifications.
LISC is an equal opportunity employer. LISC does not discriminate in employment on account of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, lactation and related medical conditions), gender identity or expression (including transgender status), sexual orientation, marital status, military status or veteran status, unfavorable discharge from military service, physical or mental disability, protected medical condition as defined by applicable state or local law, genetic information or any other characteristic protected by applicable federal, state or local laws and ordinances.
We will endeavor to make a reasonable accommodation to the known physical or mental limitations of a qualified applicant with a disability unless the accommodation would impose an undue hardship on the operation of our business.
LISC IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE
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