Senior Director, Loan Administration

Position Reports to: Chief Credit Officer

Location: Fully US-based remote, with a preference for candidates within commuting distance to an NFF office (Boston, Los Angeles, New York, Oakland, Philadelphia).

Department: Credit Risk

For over 40 years, Nonprofit Finance Fund has provided nonprofits and their leaders with capital, consulting, and thought leadership. As a community development finance institution (CDFI), we work with nonprofits, partners, and systems to build racial equity and community wealth and well-being. Our vision is a world of equitable prosperity, where communities of color and other systematically excluded communities have the capital, community assets, knowledge, and agency to thrive. You can learn more about our work to achieve that vision by reading our Strategic Plan for 2024-2026, Our Values, and Theory of Change.

None of this work would be possible without the incredible people who work here. Our team consists of a diverse group of passionate professionals who care deeply about NFF's mission. You can read more about what it’s like to work here – and read a few examples of “a day in the life” for NFF staff” – on the careers page of our website.

Thank you for your interest in NFF. We hope you’ll join us.

About the Opportunity

NFF is hiring a Senior Director, Loan Administration who will provide leadership to the Credit Risk and Loan Administration teams in ongoing relationship and performance risk management of NFF’s loans. Additionally, this role will provide support to the Underwriting team and General Counsel department in closing administration and accurate onboarding of new loans. The Senior Director will manage the Manager, Loan Servicing and will be responsible for balancing multiple time sensitive deadlines that are critical to NFF’s clients and communities they serve.

The Senior Director, Loan Administration plays an integral role overseeing loan administration and servicing of NFF’s diverse loan portfolios. As an important member of a close-working team, the Senior Director, Loan Administration provides leadership to the Portfolio Management team in ongoing relationship and risk management of NFF’s loan portfolio, as well as supporting the Underwriting team and General Counsel department in closing and onboarding new loans. This role requires a strong ability to balance multiple priorities and a detail-oriented approach to meeting time sensitive deadlines.

This is an exciting opportunity for a lending operations leader who wants to apply their skills to one of the largest and most well-established Community Development Financial Institutions (CDFI) that is growing its $200 million portfolio of loans to mission-driven organizations. NFF’s Financing team provides loans to nonprofit organizations for their real estate and working capital needs with a commitment to ensuring that communities and various organizations access to and control of the funds they need to meet their goals. Currently, NFF manages around $400 million of financing assets, primarily loans to nonprofit organizations in the education, healthcare, human service, and housing sectors.

The position can be based remotely, with a preference for candidates within commuting distance to an NFF office (Boston, Los Angeles, New York, Oakland, Philadelphia). There is potential for up to 5% travel, which will consist of client and partner meetings, local/national conferences, and occasional inter-office travel.

The Senior Director, Loan Administration will report to the Chief Credit Officer who is based in Philadelphia.

What you’ll do

Leadership

• Serves as group leader of the loan servicing department providing critical coaching and guidance to loan servicing staff, while closely collaborating with other key stakeholders in Financing (Lending), Finance and Treasury, and Operations suite
• Responsible for retaining and recruiting top talent to provide world class customer service to NFF borrowers
• Supports key data and reporting deliverables that provide executive and leadership team colleagues important information to help make informed decisions about NFF’s various business lines
• Build capacity to support growth internally and externally with other CDFI’s and lending partners. i.e., Servicing Only relationships, more complex participations, etc
• Resolve escalated loan issues, leveraging expertise in servicing standards, internal policies and procedures, and data architecture to facilitate resolutions
• Ensure proper documentation and controls are in place to ensure risk is inherently minimized in process management

Relationship Management

• Support relationships with new and existing clients and participant lenders and support them on all loan servicing and online portal related matters
• Collaborate with underwriters, portfolio managers and general counsel on collection of post-closing items and loan disbursement conditions, proactively identifying potential issues and proposing solutions
• Lead conversations with clients in a way that demonstrates empathy and garners understanding of their experiences and needs, including those who have faced barriers to equitable access of capital

Loan Servicing

• Review loan documentation details and ensure they are accurately updated and represented in Salesforce and Loan Management System known as The Exceptional Assistant (TEA) Administrator
• Manage maintenance of systems and databases for administration, reporting and servicing of loans. This includes the following: loan onboarding, billing, draws, payments, renewals, delinquency management, and ACH set up
• Monitor delinquent payments and coordinate with clients on early collection efforts
• Partner with Finance team to ensure the accuracy of loan records and resolve any servicing issues
• Maintain loan and portfolio files for collateral and financial documents
• Supervise the Specialist, Loan Servicing to ensure they are trained and adequately supported; provide guidance as needed; identify and address skills gaps; support their professional development and achievement of performance-related goals

Internal Improvement

• Partner with Finance team on identifying loan administration issues and developing a more efficient system for loan processing
• Ensure adequately cross-trained staff in Financing and Finance to avoid temporary disruption to the loan servicing function in the event of workflow surges, staff vacations, leaves, turnover, etc
• Propose guidelines and procedures that will enhance NFF’s portfolio management practices, create a more consistent workflow, better client experience, and maintain high quality, accurate internal data

Who you are

• You have a minimum of seven years of experience, including at least five years of loan servicing and administration experience, ideally in commercial banking or another CDFI, or other relevant experience. Additionally, you have strong working knowledge of the following:
• CDFI lending systems with experience on-boarding or upgrading a system
• Loan documentation, lending, and portfolio management concepts and terminology
• You are a strategic thinker; you combine strategy and innovation to successfully design and implement processes, systems and policies that support the organization's overall vision and growth
• You have a strong relationship-building approach with the ability to center the needs of clients and communities
• You can solve problems and think creatively; you demonstrate capacity to provide pragmatic solutions and have the drive and leadership to implement ideas through to successful conclusion
• You possess strong project management skills with demonstrated success managing multiple projects and priorities
• You are committed to continuous improvement and demonstrate a growth mindset
• You have strong and proactive communication (verbal and written) and interpersonal skills
• You have advanced experience with Microsoft Office applications including Excel and loan management systems
• You demonstrate experience or capacity to learn Salesforce including administration of integrations with loan management systems
• You enjoy collaborating with diverse team members who are working together to re-envision how we combine investments and financial expertise to drive change in communities
• You embody NFF’s mission, core values and commitment to equity

Compensation

At NFF, we are invested in discussing the depth and breadth of each candidate’s background and experience during the interview process and using that information to determine the best offer while considering internal pay equity. The salary range for this position is $152,700-$160,000. If provided an offer, NFF will determine salary compensation based on relevant skills and years of experience. NFF also takes into consideration internal equity in setting salary bands for each role. NFF provides an attractive benefits package that currently includes up to 18 paid holidays, 3 floating holidays, unlimited vacation time off, health insurance with a NFF funded health reimbursement account. We offer both employer match and non-match contributions toward your retirement plan. In addition, NFF provides flexibility to work remotely or from our offices in major cities. We provide a “work from home” fund, and flexible spending accounts that cover medical, commuter, and childcare costs.

Please Note

All salaries are commensurate with experience and include an attractive benefits package.

Nonprofit Finance Fund is committed to diversity, equity, and inclusion in its workforce. We encourage candidates that will help us live out this commitment to apply.

NFF is an equal opportunity employer and does not discriminate against any applicant or employee because of race, color, religion, sex, national origin, disability, genetic information, age, or military or veteran status in accordance with federal law. In addition, NFF complies with applicable state and local laws governing non-discrimination in employment in every jurisdiction in which it maintains facilities. NFF also provides reasonable accommodation to qualified individuals with disabilities in accordance with applicable laws. NFF does not employ individuals based outside of the United States.

This job posting provides a general list of the essential responsibilities and qualifications required for this position. It does not represent a contract for employment and NFF reserves the right to change the description and/or posting at any time without notice.

Click here to view NFF’s Fair and Equitable Practices.

When applying, please DO NOT include any of the following information with your job application: Social Security number; driver's license number or state-issued identification card number; financial account number, or credit or debit card number.

At NFF, we are invested in discussing the depth and breadth of each candidate’s background and experience during the interview process and using that information to determine the best offer while considering internal pay equity. The salary range for this position is $152,700-$160,000. If provided an offer, NFF will determine salary compensation based on relevant skills and years of experience. NFF also takes into consideration internal equity in setting salary bands for each role. NFF provides an attractive benefits package that currently includes up to 18 paid holidays, 3 floating holidays, unlimited vacation time off, health insurance with a NFF funded health reimbursement account. We offer both employer match and non-match contributions toward your retirement plan. In addition, NFF provides flexibility to work remotely or from our offices in major cities. We provide a “work from home” fund, and flexible spending accounts that cover medical, commuter, and childcare costs.