Job Title: Portfolio Manager
Salary: $60,000 per annum, paid twice a month
Benefits: 14 paid holidays, 21 PTO days (with1 day added annually), paid family and medical leave, one optional work-from-home day each week, deeply subsidized team member and dependent health insurance coverage, short- and long-term disability, up to 8% retirement match 401k, cell phone, downpayment assistance, and opportunities for professional development and certification
Application Deadline: Monday, September 23, 2024 by 5:00 PM
Start Date: Immediately
Hours: Monday through Friday, 9am to 5pm, subject to change
About NewTown Macon
NewTown Macon, a 501(c)3 non-profit organization, is the driving force behind revitalization in downtown Macon. NewTown is one of the most dynamic, comprehensive, and innovative revitalization nonprofits in the country. Formed in 1996, NewTown has leveraged more than $950 million of investment in the urban core during its existence, culminating in the 2024 Great American Main Street Award. NewTown’s mission is to “invest time, resources, and money into local people and businesses to revitalize downtown Macon.”
To fulfill our mission, NewTown Macon provides lending and training programs for local entrepreneurs and developers as central Georgia’s first and only Community Development Financial Institution (CDFI), designated by the United States Treasury. We currently manage a $14.4 million loan portfolio, including a high percentage of entrepreneurs of color and projects fully or partially owned by women. NewTown is poised to significantly grow our lending activity over the next five years by serving residents of low-income investment areas in Macon-Bibb and our Black entrepreneur community through education, coaching, and financial resources.
To learn more about NewTown Macon and the loan program, visit www.newtownmacon.com.
Job Description
NewTown Macon’s Portfolio Manager will be responsible for monitoring the health of the overall loan portfolio, administering all loan payment servicing, analyzing portfolio trends, engaging with clients on annual reviews and repayment plans (as needed), completing routine portfolio reports and providing additional support needs when necessary.
The essential responsibilities of the Portfolio Manager include:
- Conduct portfolio oversight activities to ensure strong portfolio performance and proactive risk management;
- Execute regular portfolio monitoring and review to include annual client reviews and scheduling site visits as needed;
- Analyze portfolio trends and identify portfolio vulnerabilities by interpreting data on payment trends, client financials, and other factors affecting the portfolio;
- Manage the collections process to include coordinating with clients on needed technical assistance, negotiating payment changes, and evaluating records of delinquent loans to recommend loan modifications based on clients’ financial capacity;
- Manage the loan payment process to include posting monthly loan payments according to internal procedures;
- Maintain the loan servicing system using cloud-based loan servicing software (Downhome Loans);
- Review and process loan disbursement requests;
- Prepare and present monthly oral and written reports on portfolio trends; and,
- Collect and maintain impact data on loan clients.
This position works most closely with the three other full-time employees dedicated to our CDFI program, although our 15 full-time employees communicate, collaborate, and function as a cohesive team in fulfilling NewTown’s mission. The employee will enjoy a private office, with access to the tools and resources to complete the job successfully. While you will be held accountable for your responsibilities, no one at NewTown is micro-managed by their supervisors. The successful applicant must be self-motivated problem solvers and must deploy their skills and abilities to bolster their colleagues, contribute to the success of the organization, reach lending goals, and fulfill our mission. Because the staff is small, tasks and projects shift across job descriptions fluidly as we encounter new opportunities and challenges and play to the strengths and interests of our team members. This role does not have any supervising responsibilities and reports to the Vice President for Community Development.
Required Qualifications:
- Training, certificate, degree, or two to four years of experience in CDFI industry, loan servicing, portfolio management, audit, finance, lending, and/or other closely related fields
- Commitment to community development and downtown revitalization
- Proficiency in MS Office with expertise in MS Excel
- Superior analytical and organizational skills with attention to detail
- Strong interpersonal skills, including conflict resolution
- Ability to work well with diverse constituents
- Ability to maintain strict confidentiality
Preferred Qualifications:
- Bachelor’s degree in business, accounting, finance, entrepreneurship, or a closely related field or comparable three to five years of work experience
- Customer service experience
- Demonstrated experience in financial statement analysis
- Proficiency or experience with loan servicing software
- Proficiency or experience with QuickBooks Online or similar cloud-based accounting software
Performance Measures:
The role is designed with the following allocation of time per area of responsibility to be evaluated through an annual performance review and performance management check in’s with the employee’s direct supervisor:
- Manage the loan payments and collections process according to NewTown Macon financial policies and procedures and maintain loan servicing systems integrity – 35% of job
- Execution of portfolio monitoring and review, loan tracking, and covenant compliance and compilation of related reports – 20% of job
- Review and process business and construction loan disbursement requests – 15% of job
- Communicate with borrowers monthly and determine payment solutions or needed support if loan is at risk – 10% of job
- Schedule and complete client site visits and develop technical assistance recommendations as needed – 10% of job
- Support CDFI team with administering annual academies and workshops – 5% of job
- General administrative tasks and other duties as assigned to support the office and management – 5% of job
About Macon
Located in the heart of Georgia, Macon (pop. 160,000) combines a deep history with a dynamic business environment. Despite being one of CNN’s best places to visit, Macon remains one of the most affordable cities in America to buy a house. Learn more about Macon at https://choosemacon.com/.
Application instructions:
To apply for this position, please email a cover letter, resume and contact information for three references to hr@newtownmacon.com before the application deadline listed above.