Salary and benefits
Up to £70,000 based on experience
30 days holiday
Health insurance, life insurance, critical illness cover, pension scheme
Remote working (in current Covid environment) with possibility to come into our London-based offices in Euston
SASC is an ambitious fast-growing social investment fund manager providing flexible finance to inspiring social sector organisations. Our investment approach puts social impact at the heart of everything we do: we are committed to developing creative solutions that will enable organisations to grow and continue delivering scalable and sustainable solutions to social issues. Established in 2014, we have committed more than £100m of capital to date as loans of to non-profit organisations across the UK. We work with organisations who are tackling entrenched social issues such as poverty, homelessness, social isolation and unemployment.
In May 2019, we launched a new Fund, Social and Sustainable Housing (SASH), that provides loans to charities to enable them to purchase housing for the vulnerable people they support. Following its success we anticipate launching a new (SASH II) fund in late 2021.
As our property lending activity is increasing, we are seeking to expand our Portfolio team with a Director focused on assisting our Borrowers with purchasing properties, as well as managing the credit quality of the portfolios over the life of our loans.
The Portfolio Management team currently comprises 4 people, not including the Director.
The Portfolio Director has responsibility for independently managing the loans after closing, including assessing the collateral (residential properties) during the availability period, loan monitoring, completing annual reviews, analysing any changes in the borrower or project, proactively identifying early warning signs of trouble and implementing risk mitigation strategies, completing extension requests and modifications prior to maturity date, recommending risk ratings, and overseeing loan disbursement requests.
Reports to: Chief Portfolio Management Officer (CPMO). Will also interface regularly with the Investment Directors.
Major elements of the role
The Portfolio Director role interacts regularly with all facets of the organisation:
Deployment: Property Purchasing
· Ensure that new property purchases are approved in an efficient and timely manner within the parameters of SASC investment requirements and policies.
· Be a critical contributor to the organisation’s operational efficiencies by identifying and proposing effective solutions to maximize process efficiency.
· Maintain quality assurance that regularly reviews adherence to the investment requirements and pace of deployment.
· Ensure complete and orderly transition of new borrower relationships from Investment team to Portfolio team.
· Reporting - regular updates to CPMO on the quality of the loan portfolios and any emerging trends or issues. Proactively identifying early warning signs of trouble and implementing risk mitigation strategies.
· Manage the review of and respond to loan modification and extension requests, complete and submit Investment Committee (IC) papers approval, and work with legal colleagues/advisers to complete necessary legal documentation
· Identify any problem loans and propose strategies for resolving issues. Implement workout strategies when necessary
· Advise management of any potential issues in portfolio concentrations, exposures and market risks.
· Advise management well in advance of any potential covenant breaches in the portfolio.
· Collect and analyse quarterly financial reports and project status updates from borrowers, manage the compilation of the quarterly investor reports ahead of reporting deadlines.
· Perform annual reviews on each loan in the portfolio.
· Oversee the maintenance of database fields related to required loan monitoring/administration information due from borrowers, loan specifics, payment status, and risk analysis
· Contribute/Design forms, procedures, processes, and reports to enhance and/or automate portfolio function
Portfolio and Impact Reporting
· Oversee the provision of reports at regularly scheduled IC/Portfolio Review meetings
· Provide reports for funders or investors
· Provide historical lending and impact data for internal and external partners
Team and colleagues
· Coach more junior colleagues to meet/exceed high performance expectations of the Portfolio team and supporting their professional development
· Work collaboratively with colleagues across SASC to support organisation wide initiatives and projects.
You will be a versatile, people driven professional with excellent numeracy skills and a genuine passion for the social sector; additionally, we are looking for:
- A passion and commitment to the work and values of SASC, with a demonstrable interest/experience in the social impact investment sector or supporting social enterprises.
- A track record of relationship and credit risk management, able to effectively interact with a wide range of stakeholders, with different levels of financial expertise.
- A capacity to analyse financial statements of non-profit organisations and residential property management
- Previous experience of property security assessment and / or cashflow lending experience will be an advantage.
- An independent self-starter, with a capacity to coach and lead a team of junior staff, with a problem-solving mindset; empathetic, resourceful and intellectually curious.
- High proficiency in financial modelling and able to apply this to understand property valuations, yield analyses, etc.
- Competency in business law concepts including loan agreements / mortgages, appraisals, loan security, creditors' rights and sufficient knowledge to review and negotiate loan documents.
How to apply
Please apply with CV and covering letter explaining how you meet the person specification and why you think you would be the right person to join our team.
Deadline for applications: 23:59pm, Sunday 8th August 2021.
As an innovative social investment fund manager with an open and transparent work culture, SASC believe we are stronger and most effective with a diverse team. People from all underrepresented backgrounds are strongly encouraged to apply.
Appointments will be made on the basis of merit only.
All applicants are required to hold the relevant Visas/Work Permit.