Loan Associate

POSITION SUMMARY:

The Loan Associate provides support to Genesis LA’s Lending Team on portfolio management duties, closings, and underwriting assignments. The Loan Associate is part of Genesis LA’s 19-person team and will report to the Director of Lending.  Under direction of the Director of Lending the Loan Associate will support the Portfolio Manager and Loan Officers on workflows related to providing loans to new and existing borrowers.

The ideal candidate will have existing knowledge of Los Angeles as well as its local community development sector and must possess a genuine desire to improve economically distressed communities. A minimum of 1-3 years of experience in administrative support, project coordination, data analysis or lending is required.

RESPONSIBILITIES:

Portfolio Management

• Gather interim and annual financial statements, audits, and other items from existing borrowers, per loan documents.
• Review borrower compliance with loan terms, conditions, and covenants.
• Assist with the review of loan draws for construction and predevelopment loans.
• Support the Lending Team and management in preparation of monthly, quarterly, and annual compliance reporting internally and externally.
• Internal reports will be prepared for review by the Portfolio Manager, the Lending Team, and the Management Team relating to summary of loan terms across the portfolio, status of loan accounts, borrower’s financial performance, etc.
• External reports will be prepared for parties that include investors, government agencies, and trade organizations.
• Support the Lending Team and management in providing quantitative data and written reports to external funders, including foundations, investors, and government agencies.
• Support Programs Team with the collection of impact data related to loans.

Loan Closing Coordination

• Prepare initial drafts of commitment letters and closing checklists.
• Coordinate document assembly between closing parties, title and escrow, including due diligence reports, signature packages, and final closing documents.
• Prepare closing memos to be shared with all staff to facilitate transition to ongoing loan servicing and portfolio management.
• Assist with boarding loans in loan software system and updating current loan impact data over time.

Underwriting Support

• Support Loan Officers to request and organize prospective borrower due diligence materials, financial reports, and project documents.
• Assist Loan Officers with basic underwriting as needed.
• Assist with drafting term sheets
• Contribute to the preparation of credit memos by drafting borrower background sections, distilling essential project details, documenting anticipated community impacts, preparing attachments, etc.

Other Duties

• Other duties as may be assigned by management and senior staff.

QUALIFICATIONS:

• Bachelor’s degree required, preferably in business, economics, finance, accounting or related fields.
• Minimum of 1-3 years of experience in administrative support, project coordination, data analysis or lending is required.
• Proficiency in analyzing various types of data and distilling information into quantitative and qualitative reports.
• Experience reviewing and interpreting financial statements.
• Prior experience and/or demonstrated interest in assisting mission-driven organizations and projects. 
• Excellent written and oral communication skills and attention to detail.
• Outstanding interpersonal skills and demonstrated ability to work collaboratively with a small team.
• Self-starter with an ability to work independently on core responsibilities.
• Strong organizational skills and follow through.
• Capacity to prioritize multiple tasks to meet timing needs of Genesis LA, its partners, and borrowers. 
• Ability to work efficiently in a fast-paced environment and to exhibit flexibility within a dynamic and entrepreneurial organization.
• Computer aptitude, including knowledge of Microsoft Office Suite Programs.
• Knowledge of NMTCs, CDFIs, federal, state, and local financing programs and related public policy issues is a plus.

COMPENSATION:

Genesis LA offers a competitive salary commensurate with experience. The expected starting salary range for this position is $70,000 - $80,000, depending on experience. Genesis LA offers full medical, dental and vision benefits, a 401k retirement plan with generous matching terms, 12 paid holidays and 15 days of paid time off per year. Bonus opportunities are also available based on performance.

The position is based at Genesis LA’s corporate offices in Downtown Los Angeles. Genesis LA is primarily an in-person business, with a policy for in-office attendance Monday through Thursday and the option to work from home on Fridays. Management is open to accommodating additional flexibility when needed. Genesis LA also fosters a culture of team building and bonding, with regular social activities.

Interested candidates should forward a resume and cover letter to Dina Valenzuela, Operations Manager at dvalenzuela@genesisla.org