Location: Concord, NH or Washington, DC or Remote-based
Reports to: Deputy Director, ROC USA Capital
Status: Full time, Exempt
The Senior Director will lead and oversee key functions of portfolio and asset management, loan servicing, compliance, and risk mitigation within ROC USA® Capital. This role will ensure the organization’s portfolio operates efficiently and aligns with strategic goals to maintain and strengthen its position as the leading CDFI lender for resident ownership.
Additionally, this leader needs to adopt a hands-on and collaborative approach providing direct support to resolve complex borrower challenges. This includes conducting proactive financial analyses to identify early warning signs of distress and developing actionable lender strategies to mitigate risks. This role combines leadership and collaboration with other key staff in ROC USA Capital Lending and ROC Direct to ensure seamless integration across the lending lifecycle.
- Oversee and approve the annual operating and capital improvement budgets for assigned borrowers, ensuring alignment with financial objectives.
- Conduct annual escrow analyses for assigned borrowers, ensuring accuracy and regulatory compliance.
- In collaboration with other Portfolio Management Team members, manage the platforms and systems (currently FICS) utilized by ROC USA Capital for loan servicing and portfolio management, ensuring their effective implementation, optimization, and alignment with organizational goals.
- In collaboration with other ROC USA Capital team members, drive the evaluation and enhancement of these platforms to improve efficiency, accuracy, and user experience, staying informed about industry best practices and technological advancements.
Loan Compliance
- Monitor and ensure timely and complete submission of quarterly and annual reports from borrowers and Certified Technical Assistance Providers (CTAPs) in accordance with Borrower Loan Documents and CTAP Loan Servicing Agreements.
- Coordinate the review and approval of construction loan disbursements and Replacement Reserve Account disbursements for borrower capital improvements, ensuring adherence to approved Capital Improvement Plans and Construction Loan Budgets.
Portfolio Management
- Conduct portfolio-wide analyses to assess borrower performance against key risk and performance metrics, identifying trends and potential areas of concern.
- Lead efforts to restructure, resolve, or recover non-performing loans while balancing financial sustainability with the mission. This could include identifying potential solutions for workouts, structuring reasonable loan modification agreements, and other strategies to mitigate risk provided for in Borrower Level Loan Documents.
- Support the development of a comprehensive Monthly Borrower Watch List, tracking and reporting on portfolio performance to ROC USA Capital’s Deputy Director, Managing Director and the leadership team. Lead monthly Watch List meetings with staff, fostering collaboration and strategic decision-making.
- Collaborate across teams to ensure alignment on turnaround plans, leveraging insights from portfolio performance metrics to guide decision-making and maintain portfolio performance and integrity. Maintain detailed records of negotiations, decisions, and outcomes, providing transparency to status of workouts.
Leadership and Team Collaboration
- Mentor the team of two Portfolio Management professionals, fostering their growth and development within ROC USA Capital.
- Contribute to a culture of inclusivity and respect, ensuring that all team members feel valued and heard. Nurture a collaborative team environment that encourages diverse perspectives and innovation.
- Manage and review vendor and consultant relationships central to Loan Portfolio Management, ensuring the selection of qualified service providers, monitoring vendor performance and effectiveness, negotiating contracts, and ensuring that services are delivered within scope, on budget, and meet organizational quality standards.
Strategic Development and Other Responsibilities
- Drive continuous improvement of loan servicing, compliance, and portfolio management processes to enhance operational efficiency and risk management.
- Play a key role in helping position ROC USA Capital over time for a national financial rating (e.g., Moody’s, Standard & Poor’s), providing support to building systems and processes that meet the highest industry standards.
Required Skills/Abilities:
- Strong background in Multifamily Housing Loan Portfolio Management and Associated Loan Accounting/Loan Servicing, including excellent multifamily operating financial analysis skills and experience successfully restructuring long-term loans.
- Strong skills in written and verbal communications and excellent interpersonal relations.
- Strong proficiency with Microsoft Office applications including Word, Excel, and PowerPoint.
- Demonstratable commitment to ROC USA’s mission.
Education and Experience:
- 5+ years of loan servicing and portfolio management experience with a lending institution servicing amortizing loans for an income producing real estate-based loan portfolio, preferably in commercial banking or with another CDFI financing affordable multifamily housing.
- Management of loan servicing and amortizing income-producing loan portfolio required.
- Bachelor’s degree required in business, finance, economics or related field.
Physical Requirements:
- Prolonged periods of sitting at a desk and working on a computer.
- Moderate travel (25%)
What Else You Should Know
This is a full-time, 40-hour-per-week exempt position, based in Washington, D.C., Concord, N.H., or a remote location. The role requires moderate travel throughout the country to conduct site visits to existing borrowers and participate in ROC USA sponsored convenings and events. The salary for this position is dependent on experience with a range between $115,000 – $135,000, depending upon experience. We also offer an excellent benefits package, including a Health Reimbursement Account, FSA, generous vacation and sick time, and a 3% retirement match.
Who We Are
ROC USA® is a non-profit social enterprise dedicated to helping homeowners in manufactured home communities form self-governing, affordable, and sustainable cooperatives. Our vision is for millions of families to thrive in resilient, resident-owned communities. We empower homeowners to purchase the land beneath their homes by facilitating market development, negotiating with investor-owners, and providing financing through ROC USA® Capital, a certified Community Development Financial Institution (CDFI). Our national team and affiliated non-profits offer training and technical assistance, ensuring these cooperatives succeed.
With nearly 40 years of experience, we advocate for resident ownership at all levels of government. Our networked model delivers consistent, high-quality services across the nation, allowing us to thrive in a niche market. ROC USA has been recognized by major media outlets, including The Financial Times and Last Week Tonight with John Oliver. We are financially strong, with assets exceeding $200 million and a sustainable revenue model.
2023-2025 Strategic Goals
- Expand opportunities for homeowners to achieve ownership of communities resulting in 50 more resident-owned communities (ROCs) benefiting 2,500+ households.
- Improve and preserve the sustainability of more than 300 resident owned communities to further enhance community resiliency and household financial security.
- Provide more than 1,800 ROC leaders with tools to be the driving force for positive change and further build collective community power.
- Operate with a culture and commitment to quality of service, sustainability, accountability, and cohesion.
Our Cultural Norms
- Prioritize deep collaboration and hold ourselves accountable to each other, our customers, and our mission.
- Trustworthiness and transparency are the foundations of our success.
- Embrace creativity and enjoy having fun along the way.
- Believe in the power of teamwork.
ROC USA Capital
ROC USA Capital is the market leader in financing resident owned manufactured home communities. As the lending subsidiary and CDFI, ROC USA Capital is a trusted steward of public and private capital. Our partners include national and regional banks, insurance companies, and other CDFIs in addition to state and local government and the U.S. Treasury Department’s CDFI fund. Through a unique and proven loan participation and servicing model, more than $200 million of public and private capital is managed today by ROC USA Capital.
In each ROC project loan underwriting, ROC USA Capital maximizes the leverage of private capital with state and/or local government investment to deliver to low-income homeowners the most affordable financing package. State and local government benefit from ROC USA Capital’s focused market expertise, integrated financing and ongoing support model, loan servicing and investor reporting systems.
ROC USA Capital has delivered more than $420 million in acquisition/permanent and community improvement financing with a current portfolio of 104 borrowers (ROCs). This team of five, led by Managing Director Michael Sloss, supports loan origination, portfolio management, capitalization and investor relations.