Community Development Assistant Jobs in Powhatan, VA

Description

About Locus:

At Locus, we know communities thrive when they have equitable access to capital. We collaborate with stakeholders across the community development ecosystem to invest in communities with strong aspirations, while addressing challenges like a shortage of affordable housing, limited access to fresh food, a lack of quality jobs, and clean energy innovation. We believe a capital system that centers community input and impact is essential to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving places. 

Locus is the parent organization for a family of community development enterprises, which includes a nonprofit CDFI loan fund, a CDFI bank, a fund management practice, and a national guarantee program. With offices in Christiansburg and Richmond, Virginia, Locus offers innovative and flexible financing tools and strategic consulting services to individuals and organizations in underestimated and excluded communities, most of which are low-to-moderate income. Alongside our many partners, Locus has generated over $2 billion dollars in total impact. 

Locus is a nonprofit holding company regulated by the Federal Reserve. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org.

Position Overview: 

Locus is currently seeking an experienced Portfolio Management Officer I (PMO I) in the department of Credit Risk. The PMO I role involves monitoring portfolio composition and performance, and creating/producing the various internal & external reports and dashboards regularly for upper management. The role will also be responsible for remaining up to date on all regulatory guidelines across the aforementioned portfolios (e.g., including, but not limited to the CDFI Fund, ECIP, CRA, and Capital Magnet Fund). 

Requirements

Essential Duties and Responsibilities:

• Reporting - Responsible for the development and execution of timely reporting and dashboards for direct lending portfolios.
• Portfolio Management - Assist in overseeing the bank's direct lending and fund management portfolios and conducting regular portfolio reviews (annual reviews).
• Risk Mitigation - Monitor delinquencies and upcoming maturities, work with the Impact Banking team to ensure any extensions/renewals are completed prior to the maturity date. Assist Fund Management Team with portfolio monitoring and claims processing.
• Compliance - Review closing documentation for direct-lending and fund-management portfolios. Ensure that all products have been closed and comply with the parameters defined within the closing documents.

Qualifications:

Experience/Education/Certifications

• 1-3 years relevant work experience in a credit risk management function to include commercial real estate and commercial and industrial lending.
• 1-3 years of banking experience and knowledge of a unique business model.
• Knowledge and demonstrated ability in portfolio management, regulatory compliance, and credit analysis to include underwriting and spreading financial data.
• Bachelor's Degree in a related subject field required.

Computer/Technology:

• Excellent Word, Excel, and Windows file management skills mandatory
• Experience with Salesforce or other CRM tools
• Experience using data visualization tools to develop reports and dashboards (PowerBI preferred)
• Familiarity with Outlook or similar network-based email and calendar software
• Extensive computer usage and Microsoft Teams communication
• Must be able to work independently in a stable remote environment, if necessary
• Access to high-speed internet bandwidth and reasonable proximity to Locus or a major metropolitan airport

Communication:

• Ability to communicate verbally across all levels of the organization in a clear, concise, and confident manner
• Ability to write accurate, clear, and organized communications, incorporating a range of information and analysis
• Ability to collaborate with other departments (ex. IT) to develop successful solutions to business problems
• Ability to document workflow and procedures

Compensation and Benefits:

• $80,000 - $90,000 annual salary, depending on skills and experience
• Annual bonus opportunity
• 18 days of PTO per year 
• 13 paid holidays per year
• Medical, dental, vision, short- and long-term disability insurance
• Life Insurance
• Paid family leave options
• 401k savings plan with employer match

Locus is an Equal Opportunity Employer. Locus 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 disability, or status as a veteran.