Loan Documentation Specialist at IFF – Chicago, Illinois

Title: Loan Documentation Specialist

Employee Status: Full Time, Exempt

Salary: Grade 2

Starting range of $55,000 – $69,000

Reports to: VP of Operations, Capital Solutions

Department: Capital Solutions

Location: Chicago, IL

Hybrid: In office: T/W | WFH: M/Th/F

Department Function: Capital is a critical resource that’s often beyond the reach of nonprofits serving communities with limited resources. IFF works hard to change that. For more than 30 years, IFF has specialized in flexible lending products that help nonprofits achieve their growth goals and best serve their communities. IFF’s clients include human services agencies, supportive housing providers, schools, health clinics, arts organizations, community centers and a full spectrum of other nonprofit organizations. Racial inequality in property values still exists today. IFF takes a different approach to underwriting that isn’t limited by appraisals, but instead is informed by a deep understanding of nonprofit operations and the importance of nonprofit facilities to communities. IFF provides lending to our clients uniquely designed to serve nonprofits with no appraisals on commercial projects, as low as five percent up front, and long-term loans with no prepayment penalties. Loans can be used for acquisition, facility improvement, equipment and vehicles, and affordable housing. Capital Solutions is part of IFF’s Core Business Solutions which is a cross-cutting team that sits at the nexus of nonprofits, communities, and IFF technical knowledge. The group provides thought leadership and expertise to drive corporate strategy across markets. The primary business units in Core Business Solutions are Capital Solutions, Real Estate Solutions, Community Development Solutions, Home First, and Legal.

The Organization

IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Across the Midwest we help clients from every sector, including human service agencies, health centers, schools, affordable housing developers, and healthy food grocery operators. Staff contribute extensive business experience and an unrivaled connection to the mission of IFF to the clients we serve.

Equity, Diversity, and Inclusion

Partnering to create thriving communities is at the heart of everything we do. We leverage knowledge, capital, and resources to advance equitable and transformational outcomes in under-resourced communities, guided by our commitment to be an inclusive, anti-racist and anti-oppressive institution that honors communities as asset-rich and as experts in their own stories.

Basic Job Function

The Loan Documentation Specialist works closely with the Lending team, Closers, and Partnership/Asset Managers to coordinate and ensure that loan files are maintained in adherence with IFF’s Policy. The role is primarily responsible for ensuring the safe and organized storage of all original loan documents. The Loan Documentation Specialist will manage the department’s document management procedures and support accountability efforts through regular file and data audits. Additionally, the role supports our Finance team to package eligible loan documents for collateralization with investors.

IFF is looking for candidates with a commitment to the work we do who can demonstrate their creativity, diligence, enthusiasm, growth-mindset, thoughtfulness, and passion to make meaningful change in the areas of economic and racial justice.

Core Responsibilities:

1. Overseeing and managing Capital Solutions’ physical and electronic loan document management system.

2. Maintaining and enforcing document management policies and procedures.

3. Auditing loan approval and impact data and loan files to ensure accuracy and completeness prior to loan closing.

4. Ensuring the proper storage and organization of loan file documents from loan file creation through close out.

5. Serves as the primary liaison between the finance team and external investors to retrieve and provide requested loan documentation.

6. Demonstrates a commitment to equity, diversity, and inclusion. Promotes an environment of empathy and respect, ensures the inclusion of all team members, and will actively engage in EDI events and learning opportunities.

7. Perform other projects as assigned. No job description can be entirely comprehensive, and the jobholder will be expected to carry out such other duties as may be required from time to time and are broadly consistent with the job description and status of the position within the organization.

Performance Measures:

1. Physical and electronic loan files meet stated expectations.

2. Original legal documents are promptly stored securely.

3. Document management policies and procedures are improved annually.

4. Timely and accurate execution of loan packaging for Finance (related to audits and external investments) with a high level of internal customer satisfaction.

5. Takes ownership of work, improves the way it is done and leans into new additional responsibilities.

6. CapSol Department is trained on proper document management practices.

7. Best practices for document management are shared across other departments.

8. Cultivates a culture of openness in information sharing. Encourages open communication, cooperation, and the sharing of knowledge.

9. Models personal accountability that promotes ownership and engagement.

10. Builds and maintains effective working relationships with colleagues, peers and team members.

11. Values and supports differences in others, contributing to an inclusive work environment. Demonstrates the ability and willingness to communicate effectively with people of diverse backgrounds and experiences to create a collaborative, collegial, and caring community.

12. High level of satisfaction with both internal colleagues and external contacts.

Position Qualifications:

Education: Two years of college, or three to four years of relevant work experience required.

Special Knowledge & Skills: Highly organized, keen attention to detail, self-motivated, problem-solver, previous experience with legal or loan related documents is preferred.

Additional Requirements: Minimal regional travel may be required. Occasional evening and weekend work may be required.

Standard Benefits:

Medical, dental, and vision insurance

Paid time off

401(k) retirement plan with employer contribution

Life Insurance

Short and long term disability

Work-Life Balance Benefits:

Hybrid workplace

Summer Fridays

Employee Development Benefits:

Professional development stipend

Mentorship program

Miscellaneous:

Wellness programs

Employee assistance

Referral Bonuses

IFF does not offer the following:

• relocation package
• 100% remote
• provide sponsorship to applicants who require or will require a work permit.

Check off only some boxes in the requirements listed above. Studies have shown that marginalized communities - such as women, LGBTQ+ and people of color - are less likely to apply to jobs unless they meet every qualification. So, if you're excited about this role, we encourage you to apply.

Application Instructions: Please visit the Careers section of our website to apply online.

IFF values equity, diversity, and inclusion as part of its mission to strengthen nonprofits and the communities they serve. IFF is an equal opportunity employer and is committed to building and maintaining a culturally diverse workplace that is free of discrimination and harassment of any kind. We encourage women, minorities, individuals with disabilities and veterans to apply. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, veteran status, or any other status protected by the laws or regulations in the locations where we operate.