Loan Portfolio Specialist

POSITION: Loan Portfolio Specialist

POSITION SUMMARY:   
The position provides database and loan portfolio management, loan servicing, due diligence, and related functions for the economic development programs and initiatives of the Foundation, with a primary emphasis on Southwest Minnesota Community Capital, USDA Rural Microentrepreneur Assistance Program, Minnesota Emerging Entrepreneur Loan Program, SBA Microloan Program, and special appropriation programs and funds.

ESSENTIAL FUNCTIONS: 

• Create or verify new accounts, contacts and loan records in Salesforce and complete as required.
  
  
• Preview and verify monthly loan payments for accuracy, ensuring all payment details are complete and correct; prepare and submit ACH request documentation to Accounting for processing using Salesforce.
  
  
• Set up new loan payments and disbursements.
  
  
• Process all loan transactions in the borrower's records.
  
  
• Assist with quarterly Current Expected Credit Loss (CECL) reporting to
  
  
• Manage processes for the preparation and dissemination of federal forms, including but not limited to Form 1098, Form 1099, and related items.
  
  
• Prepare annual payment letters to borrowers.
  
  
• Manage processes for data gathering, preparation, and accuracy for audit reports.
  
  
• Prepare and coordinate documents such as commitment letters, loan documents, and other items necessary for a loan closing. 

• Manage all processes for post-closing activities including, but not limited to, setup of the electronic and paper loan files, lender/borrower compliance tasks, and processes. Monitor throughout the term of the loan as warranted.
  
  
• Execute and track required filings and registrations to ensure that security interests are perfected, including UCC filings, mortgages, and other pledges of business or personal assets. Verify that appropriate insurance coverage and endorsements are secured and maintained.
  
  
• Manage all processes regarding annual financial statements, ongoing due diligence from borrowers, financial covenants, insurance, and related functions. Provide technical assistance to borrowers as warranted.
  
  
• Support all processes regarding reporting to funders and regulators, Minnesota Initiative Foundation data tracking, and related functions.
  
  
• Serve as the primary point of contact for inquiries from borrowers and partner lenders post-closing.
  
  
• Provide analysis and recommendations regarding deferments, subordinations, and changes in terms and conditions.
  
  
• Manage due diligence, monitoring, and response for delinquent, default, and bankruptcy status loans.
  
  
• Assist in ongoing maintenance and updates regarding loan policies and procedures.

OTHER FUNCTIONS

• Data Management and Integrity: Perform established processes and procedures to maintain the accuracy, completeness, and security of the organization’s data within your area of responsibility. Ensure data is entered, updated, and managed following organizational standards and best practices. Regularly review and verify data to identify and correct errors or inconsistencies and collaborate with team members to improve data management practices.
  
  
• Participate in internal staff functions, team meetings, and events.
  
  
• Perform other duties as assigned.

KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED:

• Position requires a background and familiarity with economic development and/or commercial lending practices and financial transactions.
  
  
• High proficiency with Salesforce, SharePoint, Microsoft Excel, Microsoft Word, and general database management.
  
  
• High proficiency in critical thinking, attention to detail, managing multiple tasks simultaneously, and ability to operate successfully with ambiguity or inadequate information.
  
  
• Ability to apply accuracy in basic accounting skills and be self-directed.
  
  
• Demonstrated success in providing customer service while in a due diligence or enforcement mindset.

CORE COMPETENCIES

Manages Complexity, Values Differences, Cultivates Innovation, Nimble Learning, Resourcefulness, Demonstrates Self Awareness, Decision Quality, Instills Trust, Action Oriented, Optimizes Work Processes

CORE VALUES:

Southwest Initiative Foundation employees are expected to demonstrate these core values: Optimism, Belonging, Integrity, Innovation, and Collaboration.

MINIMUM QUALIFICATIONS:   

Position requires a minimum of three years experience in transaction management at a lending institution, economic development organization, or foundation. Minimum of two years experience in a position where Salesforce or equivalent CRM utilization was a primary role. Must provide personal transportation to travel as needed. This position may require occasional travel in the 18-county region and within Minnesota.

STATUS:                                              REPORTS TO: 

Full Time, Non-Exempt                          President 

NUMBER OF DIRECT REPORTS: 0

WORK LOCATION:
Hutchinson-based with flexible work option.

Remote Work Option

As part of our commitment to equitable practices, we want to ensure employees have access to resources and accommodations that empower us to thrive. We believe that both employees and the organization can benefit from flexible work arrangements. Remote work options apply to full-time and part-time employees regardless of tenure. Given the nature of some job functions, SWIF remote work arrangements may not apply to all employees. Each employee’s remote work arrangement should maximize individual, team, and organizational well-being, and will be co-created in collaboration with their supervisor.