Relationship Manager, Real Estate

Background

About Locus

Locus (formerly VCC Social Enterprises) partners with communities where the capital system is not working to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving communities. A capital system that centers community input and impact is essential to making this a reality. Locus is a nonprofit holding company regulated by the Federal Reserve. Locus is the parent organization for a family of social enterprises, which includes Locus Bank, Locus Impact Fund, Locus Capital, and the Community Investment Guarantee Pool, or CIGP. Locus has generated over $2 billion dollars in total impact in local communities to create jobs, energize places, and promote an enhanced quality of life. With offices in Christiansburg and Richmond, Locus offers innovative and flexible financing tools and professional advisory services to individuals and organizations in low-to-moderate income and underserved communities. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors, along with personal and business checking, savings, and certificate of deposit accounts. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org.

Summary

LOCUS is currently seeking a Relationship Manager for its Impact Lending division with a primary focus on Affordable Housing. In this role, the Relationship Manager will serve a wide range of for-profit and not-for-profit developers and businesses in the creation and preservation of quality multifamily housing, the development of community and medical facilities, and the redevelopment of mixed-use property – all of which strengthen the neighborhood fabric and provide services that increase opportunities for individuals and communities. Knowledge of the Low Income Housing Tax credit (LIHTC) program is key a requirement of this position.

Responsibilities

Business Development

• Identify opportunities for new business in existing portfolio, from referrals, and through proactive marketing efforts
• Conduct proactive outreach calling in assigned territory, participate with team members in industry trade shows, attend planning and economic development meetings, and proactively call on community and economic development officials
• Assist in development of marketing tools, loan products, process reviews, etc. as required Represent Locus in various public settings

Loan Production

• Assist borrowers with loan applications; assess adequacy of information provided; provide feedback to borrower and Manager
• Structure Loan Transactions – fit borrower needs in tandem with Locus program guidelines; make pricing and loan structuring recommendations
• Financial Analysis – review financial statements, ; budgets, operating statements, cash flows, and all project pro formas and sources and uses statements
• Credit Analysis – author credit memos including both analytical and descriptive writing; assess risks of transactions’ strengths and weaknesses, make recommendations and present to loan committee for approval
• Negotiate loan’s financial, business and legal terms Prepare loan commitment letters.

Loan Closing & Monitoring

• Coordinate loan closing and loan servicing needs of borrower with Loan Closer
• If appropriate, approve construction draws reviewed and recommended by Construction Admin. Monitor assigned loan portfolio and maintain relationships with current borrowers, underwriting and closing additional loans as requested by borrowers and soliciting repeat business
• Assure timely loan closing and funding activities

Requirements

Education and Experience:

• Bachelor’s degree from 4-year college or university in a business field including specific courses in accounting, finance, and economics highly preferred.
• Minimum 8-10 years experience in commercial real estate lending environment.
• Experience with lending with the low income tax credit (LIHTC) programs will be given priority consideration.

Skills Required:

Organizational Skills

• Well-developed organizational and decision-making skill
• Ability to meet deadlines and handle multiple responsibilities simultaneously
• Ability to create and manage external client relationships

Financial Analysis

• In-depth knowledge of development pro-formas, operating projections, and financial statements. Ability to both prepare pro-formas and projections and analyze/manipulate those prepared by borrowers to conform to LOCUS’s underwriting criteria
• Ability to spread and analyze audits, tax returns and other financial statements; comfortable discussing questions and concerns with borrowers and preparers
• Ability to draw conclusions from financial and market data to make sound recommendations regarding loan conditions and requirements
• Ability to analyze real estate projects and appraisals, including Environmental reports

Computer/Technology

• Excellent Word, Excel and Windows file management skills mandatory
• Demonstrated experience with Salesforce as a customer relationship management tool or similar software
• Demonstrated web research skills
• Familiarity with Microsoft Office Suite specifically Outlook, Calendar, SharePoint, and Teams

Compensation and Benefits

• $105,000 – $125,000 annual salary, depending on skills and experience
• 17 days of PTO per year
• 11 Paid holidays per year
• Medical, dental, vision, short- and long-term disability insurance
• 401k savings plan with employer match
• Life Insurance
• Hybrid Remote (preferred candidates will be based in Richmond, Norfolk, or Northern Virginia)

EEO Statement

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 family status, national origin, non-job-related disability, or status as a veteran.

How to Apply

Click here to apply