Reinvestment Fund (Company) is a financial services company serving as a catalyst for change in low-income communities. Reinvestment Fund integrates data, policy and strategic investments to improve the quality of life in low-income neighborhoods. Using analytical and financial tools, the company brings high-quality grocery stores, affordable housing, schools and health centers to the communities that need better access—creating anchors that attract investment over the long term and help families lead healthier, more productive lives.
Reinvestment Fund brings together individual investors, banks, government officials, private foundations and faith-based and community organizations to invest in projects that transform communities. As a federally-certified community development financial institution (“CDFI”), the company manages $1.1 billion in capital that originates from over 865 investors. Reinvestment Fund has deployed over $2 billion into community revitalizing and job-creating projects and enterprises over its 33-year history. The company maintains an AA- issuer rating from S&P, as well as a four star with Policy Plus, AAA rating from AERIS (highest rating available from industry rating agency).
Reinvestment Fund seeks a qualified individual to join our team as Commercial Loan Servicing Specialist. The Specialist will provide exceptional support to the Lending & Investment Department for commercial and real estate loans. Practical experience in commercial real estate credit administration and servicing with knowledge of loan set up, servicing functions and the loan system administration is required.
Primary duties/functions for this position include:
1. Maintain the functionality of the loan servicing system.
2. Interact directly with internal and external customers to effectively communicate servicing activities and alerts.
3. Enter loan data and daily cash activity on the loan servicing system.
4. Prepare and process payments for loan participants, loan-related fees and expenses.
5. Prepare monthly billing statements and amortization schedules.
6. Review and reconcile accounts related to loan fees, interest reserves, unapplied funds, etc.
7. Review new notes, participation agreements and other legal contracts to check compliance with loan servicing standards.
8. Translate information from legal documents and financial statements into data for entry into a loan servicing system.
9. Review data entered into loan servicing system against loan documents to confirm accuracy.
The successful candidate will have a demonstrated affinity for systems and continued process improvement. Candidate must be inquisitive, problem-solving and have strong data analysis skills. Intermediate Excel skills are a must, including the ability to create and modify formulas, format data for effective interpretation, and present quantitative information to business users.
EDUCATION, EXPERIENCE AND SKILLS:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• High School diploma required, secondary education/degree a plus
• Minimum 3+ years relevant experience in a commercial real estate lending and servicing environment.
• Demonstrated technical expertise in setting up amortizing and interest-only commercial loans in a servicing system.
• Competency with loan servicing and accounting terms (ex. interest types, loan fees, journal entry, disbursement, loan participation, loan sale or purchase).
• Familiarity with loan servicing industry practices and internal controls (ex. procedures and processes around loan set up, loan payoff, collateral release, loan activity reports)
• Proficient in MS Office, especially Word and Excel, including the ability to create and modify formulas, understand data sets and format data for effective interpretation/presentation.
• Exceptional organizational skills and the ability to manage multiple projects efficiently and effectively.
• Attentive to numerical detail; makes accurate calculations.
• Strong analytical and problem-solving skills with the ability to effectively resolve challenges independently.
• Excellent interpersonal skills; cooperative and good-natured.
COMPENSATION AND BENEFITS:
Reinvestment Fund offers a competitive salary based on experience and skills, as well as an excellent benefits package including employer-paid health, disability and life insurance, 401(k) savings plan with employer match, flexible spending accounts (medical, dependent care and transportation), tuition reimbursement, paid time off, and EAP program.
Reinvestment Fund uses E-Verify to validate all new hires’ ability to legally work in the United States. Reinvestment Fund is an Equal Opportunity Employer. Reinvestment Fund does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job related disabilities, or status as a veteran.
Reinvestment Fund, Inc. has an affiliate, RF Impact Advisers, Inc. (“RFIA”) that is a state-registered investment adviser. In order to advance compliance with and prevent violations of federal and state securities laws and to avoid even the appearance of a conflict of interest, RFIA has adopted a Code of Ethics to govern certain conduct of its staff, including certain staff of Reinvestment Fund because Reinvestment Fund is an advisory affiliate of RFIA. As part of this Code of Ethics, there are specific personal reporting and other requirements and disclosures of personal financial and/or securities transactions information. For certain individuals this reporting will extend to your household members. You may be subject to a background checkApply For Position