Senior Loan Servicing Specialist

Summary 

The Loan Servicing Specialist is responsible for all new loan boarding, modifications, workouts, and post-closing loan portfolio monitoring in connection with commercial real estate and business loans. You will work closely with Prosper Portland’s Investment Manager, loan officers and the accounting team to ensure that all loan servicing activities are conducted and tracked in a timely and accurate manner. When necessary, you will engage with our legal team when delinquent accounts require collection actions. Your role will also involve identifying and resolving discrepancies, preparing reports, and maintaining up-to-date records of all loan transactions.  

Prosper Portland is looking for an experienced loan servicing specialist to join our team. The position will support our lending team with loan closings and play a vital role in the overall performance of our loan portfolio. Come join our dynamic team!

Note: The position is open until filled. For first consideration please apply before April 16th. 

Functions and Responsibilities  

• Manage loan closing/boarding process after loan approval, in collaboration with legal and accounting teams 

• Review all loan approvals to ensure the closed loan files meet the approval requirements and conditions, and that all necessary loan documentation is in place and properly executed 

• Respond to existing loan client inquiries regarding loan terms, payments, and account status in a timely and professional manner 

• Monitor loan performance across loan portfolio, including payment history, covenant compliance, and creditworthiness of borrowers. Request and analyze financial statements annually and perform credit reviews to assess loan health. Make recommendations to adjust loan risk rating if loan performance declines  

• Proactively flag borrower financial health concerns early and often, note deteriorating conditions as well as related ideas for risk mitigation to the Investment Manager and originating loan officer, including referring businesses to technical assistance providers when needed 

• Work directly with borrowers to assess business financial condition and structure appropriate loan modification and/or payment plan and monitor compliance with these agreements. When needed, work with borrowers on subordination requests, extensions or other minor modifications to loan agreements, in collaboration with the originating loan officer and the legal team 

• Work closely with the originating loan officer, accounting team, and legal counsel in cases of non-payment or troubled assets, to determine optimal strategy and related documentation required for modifications or collection actions 

• Play primary role in managing collection activity for delinquent loans, in close collaboration with legal team and originating loan officer 

• Proactively monitor portfolio performance on an ongoing basis; aggregate key metrics and ratios that roll up to quarterly and annual performance dashboard. Generate reports on loan performance metrics, delinquency trends, and overall portfolio health 

• Support Investment Manager in preparation of annual review of loan portfolio to assess overall credit quality, including performance against original underwriting expectations. Include financial condition and operating performance, impact/outcome reporting, covenant compliance, risk analysis, and other loan specific reporting as required in loan agreements   

• Support the small business, traded sector and community development teams in the tracking of referrals and completion of technical assistance required as condition of loan modifications 

• Evaluate effectiveness of technical assistance longitudinally over time, within the scope of loans where the support is required by the loan servicing specialist/originating loan officer 

• Collaborate closely with lending and accounting teams in the development, launch and execution of portfolio management innovations, such as new loan servicing or financial spreading systems 

• Identify process inefficiencies and propose potential solutions (process improvements, new tools, etc.) as the portfolio grows 

• Conduct periodic audits of loan files to ensure accuracy and compliance 

Scope   

• Monitors and structures loan modifications under minimal supervision.  Establishes own approaches and procedures. Receives general instruction on new assignments. Work is subject to final review 

• Make decisions for many aspects of work. Makes recommendations for modifications or collections related decisions with more significant legal, fiscal, political, or operational impacts that require oversight 

• Decisions and errors in work can have a significant legal, financial, political, or operational impact to the agency 

• Work involves a high level of complexity due to tight timelines, the need to prioritize multiple assignments, the technical and ambiguous nature of underwriting in mission-based lending, the interaction with external stakeholders and the need to use discretion in those interactions 

• Position has no supervisory responsibilities; however, position may oversee the work of consultants, contractors, temporary contract workers, and/or student staff. 

Competencies                                        

Putting People First, Inclusion & Collaboration 

• Interpersonal Skills: Ability to build constructive and trusting relationships. Exercises active listening, tact, patience, and discretion. 

• Mission-Driven Service: Ability to provide excellent service by demonstrating a people-oriented mindset and a willingness to help. Ability to train and provide guidance to others. 

• Teamwork: Ability to work with others inclusively and collaboratively. Works to resolve conflicts and build consensus. 

• Communication: Effectively communicates both verbally and in writing. Ability to speak in public and utilize negotiation and persuasive skills. Ability to organize, simplify, and report complex data and information to a variety of audiences. 

• Cultural Curiosity and Reflection: Ability to learn and use culturally responsive practices to understand, communicate and work with people across cultures and identities. Honors and embraces differences and models inclusiveness in interactions and decisions. 

• Advancing Equity: A demonstrated commitment to advancing social and racial equity and actively seeks out opportunities to do so. Ability to learn, understand, and apply the principles and practices of equity to work.                                      

Excellence, Innovation & Learning 

• Knowledge: Demonstrated knowledge of small business, commercial and real estate lending and business and real estate development finance, including an understanding of terminology, policies, and best practices. Working knowledge of Microsoft Office and other software applications.  

• Technical Abilities: Ability to underwrite, close, and modify loans for in mission-based lending environment. Ability to apply strong financial analysis skills and tools in credit analysis, risk management and compliance to work. 

• Continuous Learning: Openness to new ideas. Ability to provide and receive constructive feedback. Ability to ask for help and learn from experiences. 

• Problem Solving: Apply research, analytical, and creative problem-solving skills. Exercises sound judgement in carrying out responsibilities. Ability to interpret and apply law, policy, and procedure to work. 

• Adaptability: Flexibility to respond to shifting and competing work demands. Perseveres in the face of obstacles. 

• Planning and Organization: Ability to organize work, set priorities and monitor work independently. 

• Accountability: Takes initiative and responsibility for one’s actions. Follows through on commitments and meets deadlines. Maintains confidentiality as appropriate. 

Minimum Education, Training and/or Experience  

Four years of Commercial Loan Servicing experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, or education. Must have at least one year of loan underwriting experience in a loan servicing or lending role. An Associate’s, Bachelor’s, or Master’s degree will substitute for up to one year of experience.  

Physical Requirements  

Position requires ability to remain in a stationary position for extended periods of time along with the ability to frequently move throughout the office. Position often uses a computer and other standard office equipment. Position must communicate and interact with internal and external stakeholders. 

Working Conditions 

Normal working hours Monday through Friday [8 AM – 5 PM] in a combination of in-person and remote work; however, additional hours may be needed to meet deadlines. Position requires local travel to external meetings, community outreach, site visits or events; travel out of the metro area, although rare, may occur.  Position will be expected to engage in conversation and personal reflection around race, racism, and equity.