Senior Associate, Credit and Portfolio Management
RSF Social Finance is an impact-focused financial intermediary committed to reimagining and transforming the economy. Centering relationships, RSF uses the tools of finance to bring about positive, real-world change. Through lending, investing and giving we change the way people relate to and activate money.
We connect social enterprises with various forms of capital to contribute to a more just, regenerative, and compassionate world. As a not-for-profit, RSF supports a broad range of social enterprises in the fields of Food & Agriculture, Education & the Arts, and Climate & the Environment. Primary services include our investing and lending programs and philanthropic programs and services. In partnership with our investors and donors, RSF has made over $800 million in loans and grants since 1984, placing us in the top tier of social finance organizations worldwide.
This is an exciting opportunity to support RSF’s lending program. The Senior Credit Associate is responsible for underwriting commercial loans to non-profit and for-profit social entrepreneurs in the U.S. and Canada, as well as helping to manage RSF’s processes for underwriting and portfolio management. Primary duties include underwriting and obtaining credit approval for new and existing formula-based ARIF lines of credit, equipment loans, and commercial owner-occupied real estate credits, term loans; monitoring loan performance and compliance; adhering to RSF’s underwriting, loan monitoring, and portfolio management policies, methods, and reporting; and supporting the Credit Manager by contributing to a well-managed credit and portfolio management function. This position works closely with Lending Managers and serves as a critical central touch point for building and maintaining external relationships with assigned borrowers. The Senior Credit Associate also works with documentation and internal and external counsel to close transactions in a timely manner.
Essential Duties & Responsibilities:
Credit Underwriting (30%)
- Perform credit analysis and underwrite Social Investment Fund loan applications received by Lending Managers to determine eligibility of request, ensuring compliance with RSF Social Finance policies and procedures.
- Review and evaluate credit data provided by lending managers/borrowers/loan applications and analyze annual financial data and sources of financial information to determine profitability and qualification of loan. Based on completed analyses and using approved format:
- Coordinate with the Lending Managers to ensure the required financial information required for new loans is collected from the borrower and prepared in proper format.
- Ensure that Risk Rating Calculators are prepared in an accurate and timely manner.
- Review all property inspections prepared by the Lending Managers.
- Perform all key ratios to determine borrower/project strength and compliance with RSF credit policies and procedures.
- Analyze loan collateral including collateral reports, appraisals and property condition reports and overall strength of the borrower/applicant. Recommend the addition of collateral, guarantors, or alternative loan terms or underwriting enhancements as necessary.
- Recommend the terms of conditions and covenants of the Business Loan Agreement for each loan.
- Prepare the loan presentation document to support and evaluate the loan request, determine credit quality for loan grading purposes, make recommendations, and identify the potential risks associated with the proposed credit. Discuss any adverse credit issues with Credit Manager or VP of Lending.
- Define loan documentation requirements for transactions, review existing loan documentation for validity, in relation to each credit reviewed.
- Ensure all due diligence and background evaluation is complete and thorough before credit approval is granted.
- In coordination with the Lending Managers prepare the narrative portion of the Credit Memo.
- Ensure that all loan files presented to Loan Committee have been properly reviewed and prepared and are pre-approved prior to presentation by the Vice President of Lending or respective committees.
- Verify that all the conditions of approval are met and approve/decline any exceptions to the conditions of approval prior to signing/closing.
- Review new loan documentation prior to signing/closing for accuracy and validity, in relation to each loan.
- Independently manage workflow with minimal supervision including multiple credit requests at different stages of the underwriting process.
- Conduct industry analysis to examine suitability of potential and existing clients.
- Present credits for approval to the RSF Credit Committee and Board Loan Committee.
Credit administration (30%)
- Recommend loan flow process improvements, building accountability into the process.
- Serve as a resource for lending managers and credit team regarding credit risk and portfolio management matters.
- Monitor and manage monthly and quarterly borrowing base certificates for formula-based lines of credit.
- Support disbursement process as needed.
Portfolio Management (30%)
- Perform Annual Reviews for assigned credit facilities as assigned
- Update trouble loan reports for assigned borrowers.
- Attend monthly Troubled Loan Committee meetings to track action items for existing trouble loans.
- Support Lending Managers in obtaining all information required for covenant compliance.
- Proactively recommend change in terms, waivers to the Credit Manager as appropriate.
- Work on Credit Action Form for modifications, waivers, temporary limit increase and restructures.
- Perform data entry for Sageworks related to covenant and financial ticklers.
- Organize and rename electronic lending files.
Other Duties & Projects (10%)
- Special projects as assigned.
- Provide support to Credit Manager as needed.
- Provide excellent customer service to borrowers.
- Participate in calls and attend meetings with borrowers.
Education and Experience:
- BA or BS in Business, Finance, Economics, or related field required.
- A combination of some or all of the following:
- Minimum 3 years’ commercial credit underwriting and administration experience, including asset and cash flow-based credit analysis skills, financial modeling skills, and commercial loan structuring.
- Formal credit training that helps perform duties in listed in the job description.
- Capital deployment experience that helps perform duties listed in the job description.
- Experience working with both for-profit and not-for-profit organizations is strongly preferred.
- Familiarity with the social finance sector, social enterprise, or one of RSF’s focus areas is preferred.
English Language Communication Skills:
- Fluency in oral and written English required.
- Strong written and oral communication skills, including the ability to create credit memoranda for approval and articulate RSF’s lending philosophy and loan products, and the ability to converse with potential and existing clients.
Finance and Math Skills:
- Must have a solid grasp of for-profit and non-profit accounting, advanced credit analysis, and financial modeling.
- Experience in loan underwriting and financial modeling.
- Demonstrated analytical ability, including the ability to understand repayment risks in various industries and mitigate them to the satisfaction of RSF and social entrepreneurs.
- Ability to proficiently apply lending concepts and terms.
- Strong attention to detail.
- Demonstrated proficiency in asset and cash flow-based credit analysis.
- Strong knowledge of statistics, data collection, and analysis.
- Well versed at using Word, Excel, and PowerPoint required.
- Effective knowledge of Microsoft Outlook.
- Effective online research and information-gathering skills.
- Knowledge of Nortridge Loan System or similar financial services core processing data management system preferred but not required.
- Salesforce experience preferred but not required.
Judgment and Independence:
- Ability to exercise good judgment, with appropriate supervision, to manage time effectively, solve significant loan structuring problems, and escalate to Credit Manager as appropriate.
- Ability to effectively communicate, negotiate, and present information to Credit Manager and Lending Team.
- Ability to work independently, and as part of a team.
- Ability to work collaboratively with staff members and effectively interact with clients.
- Ability to maintain a high degree of professionalism.
- Commitment to the purpose, values, and operating principles that inform RSF’s work.
- May be located anywhere in the US, provided the employee attends meetings in the Bay Area.
- Must be able to work during RSF’s regular Pacific Time office hours.
- Must be able to travel to prospective and existing client sites around the U.S.
- RSF Social Finance is an equal opportunity employer; candidates representing a diversity in backgrounds are encouraged to apply.
Please send your cover letter and resume to email@example.com.