LOW INCOME INVESTMENT FUND. Asset Management and Underwriting Team Leader

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1 LOW INCOME INVESTMENT FUND Position: Location: Reports to: Classification: Status: Asset Management and Underwriting Team Leader San Francisco Chief Credit Officer Exempt Regular, Full-Time POSITION SUMMARY: The Asset Management and Underwriting Team Leader ( AMUTL ) will lead and collaborate on all of LIIF s asset management functions. The AMUTL will serve as a player/manager, managing and giving assistance and guidance to a team of Credit Associates that provides the ongoing asset management of LIIF s performing loan portfolio, while performing those functions directly for a portion of the performing loan portfolio. Asset management responsibilities include 1) loan monitoring and reporting for a range of loan types (predevelopment, acquisition, construction and permanent loans) and a range of projects (affordable housing, child care facilities, charter schools, community health centers, and other community development projects) and 2) collaborating with Loan Officers in underwriting new loans. In addition the AMUTL will have direct asset management responsibility for LIIF s troubled and at-risk loan portfolio. REPORTING RELATIONSHIPS: The AMUTL reports to the Chief Credit Officer. The AMUTL supervises Credit Associates and works closely with the SVP, National Markets and Capital Solutions and the Regional Directors, Loan Officers, Loan Administration Team Leader, Loan Associates, colleagues in the Child Care Group, and Finance associates in an effort to meet LIIF s lending goals and objectives. The AMUTL coordinates with other lending staff and communicates with borrowers, third party lenders, attorneys and other external parties, as appropriate. MAJOR DUTIES AND RESPONSIBILITIES Asset Management: Leadership and Administration - The AMUTL is responsible for supervising and supporting the Credit Associates. The AMUTL will assign loan portfolios to Credit Associates and evaluate progress and quality control. The AMUTL is responsible for ensuring that Credit Associates adhere to credit policy and asset management procedures. The AMUTL will be involved in implementing established, revised, and new asset management

2 processes; and will analyze, recommend and implement improvements and changes to workflow processes. The supervisory duties include managing Credit Associates activities, vacation scheduling, and performance management and leading the process for hiring new Credit Associates. Loan Monitoring - The AMUTL will supervise the ongoing asset management of LIIF s loan portfolio, including regular loan monitoring reviews conducted by asset management staff. The AMUTL will assign loans to Credit Associates and, to manage team workload, it is expected that the AMUTL will assign a subset of loans to her/himself. The AMUTL will review and sign-off on Loan Monitoring Reports for each loan on a regular schedule to review overall asset and credit quality, including performance against original underwriting expectations. Such reviews evaluate information including borrower/sponsor financial condition and operating performance, rent rolls, project status reports, covenant tracking and compliance, and overall analysis of the credit condition of the borrower/sponsor, as informed by a complete understanding of LIIF s relationship with and exposure to the sponsor developed in collaboration with the Loan Officer and other LIIF staff. To the extent certain loans in a Credit Associate s portfolio are considered non-performing, as determined in consultation with the Chief Credit Officer, the AMUTL will provide direction to the Credit Associate or assume direct responsibility for managing non-performing loans, including but not limited to: conducting site inspections, appraisal reviews, borrower and project financial analyses; participating in developing loan restructuring strategies and alternatives; monitoring compliance with loan restructure agreements, and preparing monitoring reports and action plans. Site Visits - The AMUTL will directly conduct for a subset of loans, and will oversee the Credit Associates in conducting regular site visits and preparing site visit reports for loans in his/her portfolio in accordance with lending procedures. Underwriting: Loan Extensions and Modifications - The AMUTL will directly conduct for a subset of loans, and will oversee the Credit Associates in 1) working closely with borrowers that seek an extension or modification to provide an assessment of the necessity, feasibility and credit-worthiness of such extension or modification, and communicate same with the Chief Credit Officer and 2) conducting an analysis of the credit and then making and supporting a recommendation as to the extension or modification terms and conditions, if an extension or modification is deemed appropriate.

3 Loan Origination - As requested, the AMUTL will directly conduct for a subset of loans, and will oversee the Credit Associates in collaboration with the Loan Officer in performing thorough due diligence review and evaluation of loan requests including but not limited to the analysis and underwriting of the borrower evaluation (financial and organizational); the development team; the project and the development site and vicinity. Management of Appraisal Process: The AMUTL will manage and oversee lending staff s adherence to LIIF s real estate appraisal procedures to ensure conformity with FIRREA requirements and will function as LIIF s appraisal manager as detailed in those procedures. The AMUTL will engage all appraisals on behalf of LIIF, using LIIF s forms of appraisal engagement as reviewed and/or modified by LIIF s appraisal consultant. The AMUTL will maintain LIIF s relationship with its appraisal consultant, including, but not limited to, coordinating when required interactions between lending staff and the appraisal consultant, administering and/or renewing the contract between LIIF and the appraisal consultant, and updating LIIF s Eligible Appraiser Panel as reviewed and approved by the Chief Credit Officer. Customer Service: The AMUTL will maintain a positive and professional relationship with LIIF s customers and business partners (which include third party lenders, attorneys and other external parties such as appraisers) by both initiating and responding promptly to any and all requests in a responsive, consistent, and accurate manner. Other Duties as Assigned. SKILLS REQUIRED: The ideal candidate for this position will have these key qualifications: At least ten years of senior experience in real estate-based and/or business lending, including asset management and loan workouts, credit analysis and deal restructuring, and familiarity with loan documentation. Familiarity with construction lending desirable. Proficiency in analyzing financial statements of for-profit and nonprofit organizations and their real estate operations (in particular, rental housing and community facilities occupied by a single tenant). Familiarity with basic accounting principles including the ability to translate cash to accrual accounting and vice versa. Familiarity with federal, state, and local government funding sources for capital and operating needs of multi-family housing, special needs housing,

4 and community facilities (e.g., child care centers, educational programs, health clinics, etc.) Familiarity with real estate appraisal principles and practice. Working experience with both private sector financial institutions and public agencies. Basic familiarity with business law concepts including contracts, loan collateral, uniform commercial code, creditors' rights and forms of business organization and sufficient knowledge to review and negotiate loan documents. Proficiency with Microsoft Office Suite Programs, and other database software. Management expertise and skill to provide guidance and encouragement to those supervised while maintaining appropriate oversight and balancing of workload. Excellent skills in managing multiple tasks requiring strong attention to detail. EDUCATIONAL AND OTHER REQUIREMENTS: Educational background should include a master s degree in a relevant area of study such as real estate, urban planning, business administration or finance. In addition, the position requires a high degree of self-motivation, dedication, creativity, and perseverance; flexibility with time and willingness to accept a demanding (and personally satisfying) position. Excellent teamwork and strong time management skills are essential. Travel is required, and candidates must have a valid driver s license. THE COMPANY: Low Income Investment Fund (LIIF) is a non-profit community development financial institution, with headquarters in San Francisco and satellite offices in Los Angeles, New York and Washington DC. LIIF builds healthy communities by bridging the gap between private capital markets and low-income neighborhoods. LIIF is a steward for capital invested in affordable housing, childcare, education and other community initiatives.

5 HOW TO APPLY: Forward cover letter (including salary expectation and history) with resume to: Human Resources Low Income Investment Fund 50 California Street, Suite 2900 San Francisco, CA Or or Fax: LIIF is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender identity/reassignment or expression, sexual orientation, age, national origin, pregnancy, disability, genetic information, marital status, or protected veteran status. Posted: