Job Title: Loan Specialist (Entry Level) – Philadelphia, PA
Department: Lending and Investing
Reports to: Senior Director, Portfolio Management & Analytics
FLSA Status: Non-Exempt
Date: June 2019
About Our Company:
Reinvestment Fund is a catalyst for change in low-income communities. We integrate data, policy and strategic investments to improve the quality of life in neighborhoods across the country. We finance schools, affordable housing, grocery stores and health centers in underserved communities helping families lead healthier, more productive lives.
Reinvestment Fund brings together individual investors, banks, government, insurance companies, private foundations and faith-based and community organizations to invest in projects that transform communities. As a federally-certified community development financial institution (“CDFI”), we manage $1.2 billion in capital that originates from over 880 investors. We have deployed over $2.2 billion into community revitalizing and job-creating projects and enterprises over our 34-year history. The company maintains a AA- issuer rating from S&P, as well as the highest ratings from an industry independent rating agency (AAA, four star with a Policy Plus from AERIS).
About Our Team:
The Portfolio Operations team makes up half the Lending and Investing department. Based in Philadelphia, our close-knit team works together to successfully manage the repayment and borrower relationships for over $800 million in community loans. We have a wide range of talents and specializations, and we’re looking to add an entry-level Loan Specialist to support the team, our customers and business partners.
You know that you want to positively impact the world. You’ve got a knack for numbers, and computer systems have always been easy for you to pick up. You’ve proven as an undergraduate that you will work diligently and do more than what’s expected. You’re ready to work full-time for a company that will value your contributions, invest in your career development and give you a place to build essential business, finance and accounting skills for your future.
Your core competencies include:
- Analytical Thinking
- Results Orientation
Essential Job Functions:
- Understand each loan, what type of community projects and how the payments work.
- Read and understand loan documents especially related to the payment terms. Check to see that the loan documents and loan system data make sense together.
- Email and talk with our customers to help them navigate loan events. Take charge of recurring financial communications like payments, billing statements and amortization schedules.
- Use business tools and your own insights to make sense of each day’s incoming cash. Match these to the right loans and update the loan servicing system.
- Monitor the balances in bank accounts for loan fees, interest reserves, unapplied funds, etc.
- Take charge of organizing invoices for attorneys, appraisers, construction inspectors and other vendors. When these invoices will be paid from the loans, make sure the borrowers know what’s due and bills are paid on time.
- Other duties as assigned.
Education, Experience and Skills:
The requirements listed below are representative of the minimum levels of knowledge, skills, and/or abilities required. To perform this job successfully, the individual must possess the abilities or aptitudes to perform each duty proficiently. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Bachelor’s degree required; all majors welcome
- Competency in financial calculations, basic algebra, using a financial calculator is required
- Attentive to numerical detail; makes accurate calculations.
- Accounting and computer science coursework or experience is a plus
- 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 time management and organizational skills.
- The ability to manage multiple projects efficiently and effectively.
- Strong analytical and problem-solving skills with the ability to effectively resolve challenges independently.
- Excellent interpersonal skills; cooperative and good-natured.
- Personal presentation, conduct, speech and email correspondence consistent with a professional business environment.
Compensation and Benefits:
Reinvestment Fund offers a competitive salary based on experience and skills, including participation in the Company’s performance plan 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, generous paid time off, and EAP program. As part of its professional development program, the company pays for CPE credits and time off to attend classes as required by its professional staff.
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 check.Apply For Position