Director, Asset Management

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process. Director, Asset Management Full Time Management – New York, NY, US Salary Range: $146,400.00 to $183,000.00 annually About LIIF Low Income Investment Fund (LIIF) is a national community development financial institution (CDFI), headquartered in San Francisco with offices in New York City, Atlanta, Los Angeles and Washington, D.C. LIIF invests in communities of opportunity, equity and well-being. Since 1984, LIIF has deployed more than $3.1 billion to serve more than two million people. LIIF funds healthy communities by providing innovative capital solutions and is currently driving $5 billion in investments to advance racial equity (2020‑2030). Position Summary The Director, Asset Management directs a team of Asset Managers and oversees the asset management of LIIF’s loan portfolio, approximately $650 million in acquisition, pre‑development, construction and permanent loans. After closing through repayment, the director guides Asset Managers, who serve as the primary LIIF contact for borrowers, sponsors and partners. Key responsibilities include credit monitoring, risk rating, construction loan administration, loan conversion, modification underwriting, special attention monitoring, and workouts. The director trains, manages and coaches Asset Managers to ensure quality execution. Reporting Relationships The Director reports to the Chief Credit Officer or Credit Officer and works closely with the Credit Officer, Chief Credit Officer, Regional Directors, Deputy Directors, Loan Officers, Loan Closers, Loan Servicing/Operations, and teams in Early Childhood Education, Funds and Finance. Essential Functions Assign loan portfolios to Asset Managers; evaluate progress and quality control. Manage the Credit Committee. Ensure modifications, credit reviews and site visits are performed thoroughly, timely and in accordance with procedures. Support Asset Manager staff in ongoing training (construction lending, accounting, charter school management). Lead the Cross Functional Delinquent Loan Management Procedures, collaborating with SVP of Operations, Director of National Lending Initiatives, Deputy Director of Loan Servicing and Loan Closings. Supported by the CCO/CO to minimize delinquency friction, the duties include: Review and update CFDLM procedures annually (by 12/31). Lead monthly cross‑functional meetings to monitor delinquent and past‑due loans and plan upcoming maturities. Ensure Asset Managers address delinquencies from past‑due maturities and plan for upcoming maturities to minimize delinquencies. Ensure the Asset Management team meets responsibilities outlined in the CFDLM procedures. Collaborate with CO and/or CCO to: Ensure the full portfolio of acquisition, pre‑development, construction and permanent loans is well‑managed to mitigate credit risk and minimize losses. Provide excellent customer service, professionalism and partnership to all parties. Consult Asset Managers on internal and external strategies. Design strategies and structures to manage special attention and delinquent loans. Facilitate information exchange on policies, economics or events affecting the portfolio (e.g., teachers strike, government shutdown, natural disasters). Leadership & Staff Management Provide direct training and coaching to develop staff strengths, address performance issues and affirm achievements. Manage performance reviews, time‑off approvals, expense reports, timesheets, office space and other managerial duties. Cover Asset Manager portfolio responsibilities during leave, absence or turnover. Improve staff engagement and retention. Lead hiring, onboarding, performance improvement plans and termination processes for these positions. Monitor workloads and support professional development and training. Asset Management Responsibilities Loan Monitoring – Conduct ongoing reviews of the reduced portfolio of affordable housing, healthcare‑providing facilities, charter schools and community facilities. Prepare credit reviews, assess borrower/sponsor financial condition, operating performance, rent rolls, project status, covenant compliance and overall credit quality. Construction Disbursement Management – Review and approve construction draw packages; audit disbursement trackers, AIA documentation, site observations and title reports. Ensure fund disbursement aligns with loan documentation, budget, lien law and timelines, and support on‑time, on‑budget project delivery. Site Visits – Conduct regular site visits and prepare site visit reports according to lending procedures. Special Attention Loans – Collaborate with the Special Assets Manager, Credit Officer and Chief Credit Officer to manage delinquent or special attention loans, including site inspections, appraisal reviews, financial analyses, restructuring strategies, compliance monitoring and reporting. Loan Workouts – Assign workout transactions to the Special Assets Manager. Conduct thorough credit analysis, research loan history, review documentation, analyze financial statements, propose and implement action plans and workout strategies in collaboration with legal counsel and executives. Portfolio Data Collection and Reporting Collect and provide portfolio credit data and analysis to support audits and reports for S&P, DOE and the CDFI Fund. Loan Extensions and Modifications – Direct Asset Managers in designing extensions and modifications; assess feasibility, creditworthiness, and present recommendations to Credit Officer and Chief Credit Officer. Conversion – Oversee conversions of loans from product types, including updated underwriting and loan closing. Customer Service Maintain professional relationships with LIIF colleagues and customers, including third‑party lenders, attorneys and appraisers, responding promptly to all requests. Qualifications Essential Skills and Experience Minimum 10 years of real‑estate or business lending experience, including borrower contact, credit analysis, due diligence and loan documentation. Experience leading staff with demonstrated leadership examples. Proficiency in analyzing financial statements of for‑profit and non‑profit organizations and their real‑estate operations. Familiarity with accounting principles, translating cash to accrual accounting, federal, state and local government funding sources for multi‑family housing, special‑needs housing and community facilities. Experience with private sector financial institutions and public agencies. Knowledge of business law concepts: contracts, loan collateral, UCC, creditors’ rights and business organization forms. Proficiency with Microsoft Office Suite and other database software. Excellent multitasking and detail orientation. Educational & Other Requirements Bachelor’s degree in real estate, urban planning, business administration, finance or a related field; advanced degree preferred. High degree of self‑motivation, dedication, creativity and perseverance. Flexibility with time and willingness for a demanding role. Ability to travel nationally for managing the team, including annual visits to each office and site visits as needed. Valid driver’s license required. Additional Requirements All LIIF employees must be fully vaccinated against COVID‑19. LIIF provides reasonable accommodations for those exempted due to sincerely held religious or medical reasons. If an accommodation is required, notify Human Resources. Equal Opportunity Statement LIIF, an equal opportunity employer, believes diversity ensures excellence. All qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender or national origin. Candidates of diverse backgrounds and with diverse experience are strongly encouraged to apply for this position. #J-18808-Ljbffr