Senior Associate, Loan Administration (RSF)

RSF Social Finance; San Francisco (CA); On-site; USD 60,000 - 68,000; Full time

Benefits offered by this job

Medical, dental, vision insurance

Paid time off and holidays

403(b) plan with employer contribution

Job summary

RSF Social Finance is seeking a Senior Associate in Loan Administration to manage loan documentation, closings, funding, and servicing with meticulous attention to detail.

The role emphasizes coordinating with borrowers and RSF teams, maintaining accurate records, and ensuring timely compliance across systems while providing excellent client service.

Qualifications

• Minimum four (4) years of experience with commercial contracts and perfection of collateral, including UCC filings.
• Minimum of five (5) years of experience preparing legal documents in secured commercial lending; familiarity with LaserPro.
• Experience with loan servicing/processing and related accounting processes is preferred.
• Strong written and oral communication skills; ability to convey complex ideas clearly.

Responsibilities

• Produce and review loan documents and ancillary agreements for new and existing loans.
• Coordinate loan closings, funding tasks, and post-closing obligations.
• Process loan payments, set up commitments, and manage payment schedules.
• Maintain records across systems and support client portals and inquiries.

Skills

Communication

Attention to detail

Loan operations knowledge

Confidentiality

Documentation skills

Tools

Nortridge Loan System

Sageworks

Salesforce

LaserPro

TWiki

Excel

Outlook

Job description

Senior Associate, Loan Administration (RSF)

Posted on September 07, 2017

Imagine working with a group of thoughtful, committed colleagues to transform the way the world works with money.

At RSF Social Finance, we bring our individual passions, experience, and skills to meet the needs of others through innovative and integrated investing, lending, and giving services that generate positive social and environmental impact while fostering community and collaboration among participants.

With a 30 year track record of deploying loans, grants, and other catalytic capital to non-profit and for- profit social enterprises, RSF is recognized nationwide as a leader in the field of social finance. As an organization of fewer than 50 employees, RSF’s approach is to grow our team by adding one person at a time. In doing so we identify and seek a particular set of skills and experience to meet specific organizational needs, while seeking candidates who are also aligned with our purpose, values, and operating principles.

The Sr. Associate, Loan Administration is responsible for preparing loan documents, and assisting with legal diligence and the loan closing process. This position also coordinates loan funding and servicing, including recording loan disbursements, tracking payments, and keeping records up to date. A priority of this role is to provide a consistently high level of service to clients and RSF team members with exceptional attention to detail.

Responsibilities:

Loan Documentation

• Produce commercial loan documents, including loan, security, subordination and participation agreements for new loans based on credit memos, term sheets and RSF policies and practices.
• Produce ancillary loan documents, including amendments, waivers, extensions, side letters, and similar agreements for existing commercial loans. Identify discrepancies and other potential issues. If unresolved, inform Loan Processing Manager
• Conduct loan closing and other transaction logistics to ensure timely, accurate, and professional documentation:
  • Review and approve loan documents for accuracy
  • Initiate communication with borrowers, title companies, and certain third parties
  • Coordinate Loan Closings and Settlement Statements with Title Companies
  • Monitor loan fees and vendor invoices for reimbursable/non-reimbursable items
• Initiate the collection, review, and tracking of legal diligence requirements and exceptions including:
  • UCC and other lien searches, filings, and continuations
  • Credit and/or business background reports (both domestic and international)
  • Real estate taxes, environmental reports, and flood insurance zone diligence of mortgage loans
  • Comprehensive review of title policies for real estate loans
  • Collateral, hazard and Liability insurance requirements via Sageworks
  • Terminations and reconveyances of collateral as required
  • Maintain Salesforce system with accurate collection of client fees

Loan Closing and Boarding

• Coordinate with borrowers and members of RSF’s Lending and Accounting teams to ensure timely and accurate completion of loan closing and funding tasks
• Manage post-closing functions (including the preparation of loan closing distribution packages for borrowers, tracking Borrower and third party post-closing obligations)
• Set up commitment records in Nortridge Loan System; setup deposit in Salesforce
• Record loan disbursements in Nortridge Loan System
• Review disbursement forms and collect fees associated with loan closing
• Keep electronic records up to date in multiple systems, including contact information and loan terms
• Implement borrower setup on client portal. Instruct how to access and properly use online portal
• Attend weekly Loan Operations/Lending Business Development team meeting
• Maintain User Defined fields
• Track post-closing items in Sageworks software

Loan Funding and Servicing

• Process loan payments
• Setup commitments when good faith deposits are received
• Manage payment schedules and processing of payments to participating banks
• Answer client questions as needed. Monitor and respond to borrower requests via phone and email; elevate as needed for problem resolution
• Work with borrowers to complete audit confirmations
• Assist with producing loan statements twice monthly; processing ACH uploads for payments
• Assist with loan and loan participation reconciliations
• Prepare monthly interest and billed fee uploads
• Monitor bugs in Nortridge Loan System, communicate with Nortridge Loan System support team
• Maintain TWiki intranet files to be correct and current; add new procedures as necessary
• Document Loan closing and boarding processes using TWiki intranet
• Update servicing templates and system templates
• Draft demand letters for borrowers as requested
• Track fees relating to defaulting loans
• Monitor loan covenant compliance using Sageworks software. Communicate with borrowers and members of Loan Operations/Lending Business Development team as needed.
• Other duties as requested

Knowledge, Skills, and Abilities

• Minimum four (4) years of experience with commercial contracts and perfection of collateral including familiarity with the Uniform Commercial Code (UCC filings for both personal property and real estate collateral), drafting experience, corporate and real estate due diligence, and handling corporate state filings
• Minimum of five (5) years of experience preparing legal documents, preferably in the area of secured commercial lending; demonstrated familiarity with loan operations procedures using Laserpro documentation program.
• Experience preferred in most (though not necessarily all) of the following practice areas: finance, real estate, tax-exempt organizations, and securities law
• Minimum two (2) years of relevant work experience in the following areas:
  • Loan servicing / processing for a commercial lending institution (preferred)
  • Accounting in an accounts receivable or billing environment
• Experience in shadow accounting with respect to loans in non-accrual, charge off process.
• Strong written and oral communication skills, including the ability to communicate complex ideas and concepts in a clear and professional manner
• Strong interpersonal and listening skills, including sensitivity and appreciation for diverse viewpoints and communication styles
• Basic understanding of financial statement review and analysis
• Familiarity with financial covenants and ratios and other financial/monetary loan terms and provisions
• Must have a solid grasp of math and accounting concepts in order to perform loan reconciliation’s, generate loan statements and review documents for accuracy.
• Familiarity with UCC and other collateral security interest and perfection matters
• Familiarity with standard commercial loan products (including real estate and other asset based products and lines of credit)
• Familiarity with property and liability insurance
• Proficiency with Microsoft Outlook, Word and Excel required (including certain key functions such as compare and track changes).
• Familiarity with Medici, LaserPro, or other loan documentation software
• Familiarity with Nortridge Loan software or similar commercial loan servicing software
• Experience with, and/or ability to use, Salesforce or similar systems
• Ability to handle sensitive information with strict confidentiality and professionalism

The expected initial salary for this position is expected to be in the low to mid $60K range. Other benefits include:

• A fulfilling work environment at a supportive and entrepreneurially-driven organization
• A competitive compensation package including employer-paid medical, dental, and vision insurance benefits
• Very generous vacation and sick leave benefits plus nine paid holidays per year
• 403(b) plan with employer-paid contributions after one year of employment
• Exposure to innovative ideas, projects, and collaborative staff activities
• Access to numerous professional development opportunities

RSF Social Finance is an equal opportunity employer; candidates representing a diversity of backgrounds are encouraged to apply.