What We Do:
Nonprofit Finance Fund (NFF) works toward a more just and vibrant society through:
Financing that invests in missions. Our customized financing strengthens hardworking nonprofits and social enterprises.
Consulting that empowers leaders. Our experts equip you to make financial decisions that best serve your mission.
Partnering on big problems. Service providers, funders, and investors turn to us for new ways to collaboratively support stronger, fairer communities.
Learning that helps illuminate paths to solving complex social issues. Sharing experiences and expertise – from ideas to anecdotes to cutting-edge data and analysis – makes it easier.
Nonprofit Finance Fund® (NFF®) advances missions and social progress in underserved communities through financing, consulting, partnerships, and knowledge-sharing that empower leaders, organizations, and ideas. A leading Community Development Financial Institution (CDFI), NFF currently manages over $315 million. Since 1980, we have provided almost $700 million in financing and access to additional capital in support of over $2.3 billion in projects for thousands of organizations nationwide.
Position Summary:
The Finance & Administration department is seeking to hire a Loan Portfolio Associate. This position will work closely with the Loan Servicing Senior Associate to service NFF's loan fund portfolio and assist in the servicing of NFF's New Market Tax Credit portfolio. The primary responsibilities of this position include the processing of new loans, balancing loan accounts, tracking non-posted items and maintenance as required. Other duties covered by this position include assisting with loan questions, payments, payoffs, charge offs and recoveries.
This position will be based in NFF's New York, NY office. This position will report to the Controller.
Primary Duties and Responsibilities:
- Daily, logs loan principal and interest payments into the Loan Management System (LMS) software.
- Maintains the loan fund general ledger, including recording transactions, interest capitalizations, and interest accruals.
- Generates periodic reports from Loan Management System (LMS) on principal and interest remittances, monthly interest accrual, interest capitalization, etc.
- Performs general ledger reconciliation of interest accrual, principal and interest cash remittances with LMS, researches variances and makes corrections as necessary.
- Coordinates the setup and approval of wires for loan funding.
- Ensures incoming participant remittances and wires to participants are performed accurately and timely.
- Ensures that loans are onboarded correctly into the loan servicing software as per loans term sheet.
- Ensures each loan invoice and ACH borrower list is accurate.
- Checksverifies transactions in Salesforce with the senior associate.
- Ensures that loan terms are updated correctly in LMS.
- Reviews welcome letters and payoff letters.
- Researches and resolves servicing issues in support of loan portfolio managers and customers within scope of authority and expertise. Works with Loan Servicing Senior Associate to ensure timely and accurate loan servicing practices.
- Maintains bank accounts for all New Market Tax Credit entities.
- Generates and maintains accurate reports for the loan fund and New Market Tax Credit portfolio.
- Performs all duties in accordance with prescribed regulatory compliance guidelines.
- Other duties as needed or required.
Essential Requirements for Education and/or Experience:
- Bachelor's Degree or equivalent of 4 years of administrative support experience.
- Knowledge of loan documentation or experience working with loan funds and/or lending sector.
- Proficiency with Excel spreadsheets and working knowledge of Word.
- Attention to detail and appetite for researching and resolving issues.
- Strong communications skills (verbal and written) along with solid interpersonal skills.
- Deals with confidential information and/or issues using discretion and judgment.
- Willingness to hold up a transaction if critical documentation is missing.
- Ability to work in a fast-paced environment while maintaining a high degree of accuracy.
- Self-starter, able to complete tasks with limited supervision.
- NFF Values.
- No travel required.
Specialized Knowledge/Beneficial Skills and Experience:
- Basic accounting knowledge and experience with general ledger accounting system.
How to apply:Apply directly at:
Loan Portfolio Associate - Nonprofit Finance Fund - Job Board
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Shelene Johnson
Recruitment Associate
Nonprofit Finance Fund
New York NY
(212) 457-4700
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