Industry Job Bank

  • Make an impact and join the opportunity finance field.

The track record of today’s opportunity finance industry is impressive. All financing directly benefits low-income and low-wealth people to increase access to homeownership opportunities, affordable rental housing, thriving small businesses, and critical services such as childcare, healthcare, and education.

Do you want to develop innovative strategies? Combine your business acumen with an unwavering dedication to making a difference in people’s lives? Change the rules of financing? Make your impact and join the opportunity finance field.

To submit a job listing, please use our online form. If you need to edit or remove a posting, please contact info@ofn.orgSubmissions will be reviewed to ensure relevancy to the industry, and posted within 2 business days.

Underwriter Carolina Small Business Development Fund
Raleigh, NC
Job Function: Lending/Loan Operations
Posted: May 2, 2019

Background:

Carolina Small Business Development Fund is a state wide nonprofit Community Development Financial Institution (CDFI) that partners with community based organizations to provide training and loans to create economic opportunities for individuals, families and communities in underserved markets as well as providing capital, business services and policy research to support small businesses.

Position Summary:

Under the general supervision of the Underwriting Director, performs small business loan analysis in accordance with Carolina Small Business Development Fund policies and procedures to ensure and maintain good credit quality. Ensures loans are processed and underwritten in compliance with specific program guidelines. Responsible for the underwriting of eligible micro and small business loans under the various loan guaranty programs including the SBA Community Advantage Pilot Program.

Responsibilities:

Gathers and analyzes complex financial and credit information; clearly presents data, analysis and recommendation in a written credit memo. Ensures compliance with all SBA Community Advantage, CSBDF loan policy, loan funding partner requirements, and federal and state laws and regulations. Prepares and submits loan packages as necessary for review and approval by the Small Business Administration and other guarantee programs where an external review and authorization is required. Makes referrals to Business Services Department for borrowers requiring intensive technical assistance.Represents the Carolina Small Business at various forums and community events. Performs other duties as assigned by the Underwriting Director. Assists Credit Department in review of existing borrower accounts and portfolios in order to identify, evaluate, and determine the appropriate course of action on potential credit quality issues in an effort to maintain superior asset quality. Recommends appropriate loan risk rating grades as part of the loan underwriting process or on an as needed basis.

Requirements:

Possession of Bachelor’s degree in Business Administration, Finance, Economics or a related field. At least 3 years of SBA underwriting experience and at least 3 years of credit administration and small business lending experience. Possession of a valid North Carolina driver’s license. 5+ years of SBA underwriting experience and 5+ years of credit administration, loan underwriting, or commercial lending experience. Completion of formal credit underwriting training. Bilingual a plus (Spanish). Basic accounting theories, credit principles, lending functions, loan research, cash flow analysis and general credit policies. Knowledge and understanding of commonly used rules, regulation, concepts, practices, and procedures governing lending activities. Customer service protocol and service orientation.

Compensation:

Compensation based on market value and experience.

How to Apply:

Send cover letter and resume to hr@carolinasmallbusiness.org

Loan Closing Specialist Local Initiatives Support Corporation
NEW YORK, NY
Job Function: Other
Posted: May 1, 2019

Background:

What We Do
With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families.
Strategies We Pursue
Equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities.
Invest in businesses, housing and other community infrastructure to catalyze economic, health, safety and educational mobility for individuals and communities.
Strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places.
Develop leadership and the capacity of partners to advance our work together
Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.
Over the last 39 years, LISC and its affiliates have invested approximately $20 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment and other projects that help to revitalize and stabilize underinvested communities. Headquartered in New York City, LISC’s reach spans the country from East coast to West coast in 32 markets with offices extending from Buffalo to San Francisco. Visit us at www.lisc.org.

Position Summary:

LISC's Lending Department is seeking a Loan Closing Specialist. The position will report to LISC’s Chief Credit Officer and work in close coordination with lending staff in the field and other members of LISC’s Lending and Legal departments. The Loan Closing Specialist will manage the documentation and closing needs of a diverse, complex portfolio of real estate, working capital and New Markets Tax Credits leveraged loans. Collaborating with national and local LISC staff, this position will ensure that the approved loan terms and conditions are communicated to borrowers, the Legal Department has information required to draft and distribute documents, and required documentation is collected.

Responsibilities:

• Act as closing agent for LISC loans, reviewing all documentation for accuracy and completion of file.
• Prepare closing checklists and compile loan documentation to satisfy approved underwriting requirements, special closing conditions and special disbursement conditions.
• Coordinate closing activities with all parties involved, including review of loan approval notifications and loan funding calculations ensuring all fees, draws and expenses are accurate and documented.
• Engage with attorneys who prepare loan documents in accordance with policy and credit approval.
• Responsible for review of credit approvals and confirming that loan documentation properly reflects unique, individualized requirements of the approval for the specific loan.
• Assist borrowers with explanation of loan process, with attention to customer service and closing details.
• Communicate with Lending Department, Legal Department, and field staff when proposed requirements or approvals for the loans cannot be met.
• Coordinate activities with other parties including legal counsel, borrower, title company, third parties, and internal contacts and resources.
• Assist in processing funding disbursements at loan closing and for individual draws under lines of credit.
• Collect and provide initial review of title reports, property and liability insurance certificates, environmental reports (Phase I and Phase II) and appraisals. Identify any issues to the assigned LISC attorney.
• Prepare Summary of Loan Terms at time of closing.
• Performs additional duties, as required.

Requirements:

Applicants should have the following qualifications:

• Paralegal certificate or Bachelor’s degree in business, related field or equivalent experience.
• At least five (5) years real estate loan closing experience with a bank, other financial institution, or law firm, including experience closing collateralized, unsecured and construction or portfolio loans. CDFI experience and/or subject matter expertise is strongly preferred as is operations/process management experience.
• Strong communications, analytical, decision-making, organizational, follow-up and customer service skills.
• Ability to make decisions or recommend solutions independently, leveraging the work of attorneys, program officers, chief credit officer, and other resources to provide efficient and appropriate solutions to issues as they arise.
• Ability to evaluate, assess and mitigate risk inherent to closing process as well as ensuring adherence to LISC policies and procedures while recognizing the unique, individualized nature of each transaction.
• Attention to detail with the ability to prioritize in a high-volume environment.
• Familiarity with core community development products, including predevelopment loan real estate acquisition and construction loans, working capital lines of credit, permanent debt to Low-Income Housing Tax Credit projects and New Markets Tax Credit debt.
• Good organizational abilities, including ability to work independently and manage multiple assignments simultaneously.

Compensation:

LISC provides a competitive salary and excellent fringe benefits.

How to Apply:

To apply, please email a detailed cover letter and resume to:

Malini Nayar, Vice President, Chief Credit Officer
Local Initiatives Support Corporation
501 Seventh Avenue – 7th Floor, New York, New York 10018
MNayar@lisc.org

Community Development Officer for Housing LISC (Local Initiatives Support Corporation)
New York, NY
Job Function: Lending/Loan Operations
Posted: May 1, 2019

Background:

LISC (Local Initiatives Support Corporation)

POSITION TITLE: Community Development Officer for Housing
REPORTS TO: LISC NYC Director of Lending
JOB CLASSIFICATION: Exempt / Full Time
LOCATION: New York City

THE ORGANIZATION:

What We Do

With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families.

Strategies We Pursue

Equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities.

Invest in businesses, housing and other community infrastructure to catalyze economic, health, safety and educational mobility for individuals and communities.

Strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places.

Develop leadership and the capacity of partners to advance our work together.

Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.

Over the last 39 years, LISC and its affiliates have invested approximately $20 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment and other projects that help to revitalize and stabilize underinvested communities. Headquartered in New York City, LISC’s reach spans the country from East coast to West coast in 33 markets with offices extending from Buffalo to San Francisco. Visit us at www.lisc.org.

Position Summary:

The New York City office of the Local Initiatives Support Corporation (LISC NYC) seeks a professional to fill the position of Community Development Officer for Housing to conduct lending in New York City’s five boroughs. This position reports to the LISC NYC Director of Lending. The local New York City program, LISC NYC, works with nonprofit, community-based organizations to develop affordable housing, commercial enterprises and community facilities. Since its founding in 1979, LISC NYC has invested over $2.7 billion, leveraging an additional $6 billion in low-income communities. This has resulted in nearly 40,000 affordable homes built and preserved as well as 1.8 million square feet of retail and community space created. We also invest in health, economic development, financial well-being and environmental sustainability so that the communities our partners serve are good places to live, work, do business and raise children. For more information visit http://www.lisc.org/nyc/.

Responsibilities:

The Community Development Officer for Housing works with the LISC NYC Director of Lending to develop and execute a program of strategic housing investments to advance the objectives of LISC NYC’s strategic plan. A primary focus of the role is sourcing affordable housing development and preservation transactions and managing relationships with nonprofit and for-profit developer partners who are working in coordination with city and state housing agencies such as the New York City Department of Housing Preservation and Development, New York State Homes and Community Renewal, and New York City Housing Authority. The successful candidate will have knowledge of the public and private resources available to leverage LISC’s investments, and will have the skills to strategically deploy LISC’s full array of financing products such as predevelopment, acquisition, construction, and bridge loans, lines of credit, and tax credit equity, working alongside LISC’s affiliate National Equity Fund.

Specifically, the Community Development Officer for Housing will be focused on the following:

Business Development, Lending and Technical Assistance

Market LISC NYC’s financial and technical assistance resources by building upon LISC NYC’s established historic relationships with nonprofit community development corporations (CDCs), with an eye toward continued stewardship of the community-based housing sector, while also identifying opportunities to expand LISC NYC’s client base and pursue other business development strategies.

Structure, negotiate, and originate a robust pipeline of affordable housing transactions that facilitate the deployment of LISC capital and technical assistance resources.

Underwrite all types of affordable housing real estate transactions requiring LISC pre-development, acquisition, construction, or permanent loans, tax-exempt bond financing and Low Income Housing Tax Credit (LIHTC) financing. Conduct financial modeling and presentations to affordable housing development sponsors.

Coordinate with LISC affiliate National Equity Fund (NEF) acquisition/underwriting staff to provide technical assistance and financing where LISC NYC’s client relationships align with NEF’s LIHTC syndication activities.

Manage key relationships with public and private sector partners. Work closely with City and State government to develop projects across all of LISC NYC’s housing programs, including originating loans for the NYC Department of Housing Preservation and Development (HPD) Participation Loan Program (PLP), the New York City Employees’ Retirement System (NYCERS) program and the NYC Acquisition Loan Fund.

Provide technical assistance to LISC NYC’s partners, including nonprofit community development corporations and private entrepreneurs, seeking to develop affordable housing and other types of real estate. Assist in the preparation of applications and documentation necessary for debt and equity financing, government subsidies, and rental contract maintenance.

Provide technical assistance, in collaboration with colleagues at LISC’s affiliate National Equity Fund (NEF), to sponsors of affordable housing whose projects are approaching Year 15 of their LIHTC compliance periods, in order to exit, reposition, and refinance their housing portfolios.

Present loan recommendations to LISC’s credit committee. Perform credit analysis, including analyzing borrower operating performance, project financial performance, borrower management capacity, and project feasibility of affordable housing projects.

Work in cross functional teams under deadlines with private and nonprofit real estate developers, attorneys, governmental agencies, lenders, equity investors and other entities to structure and close affordable housing transactions.

Program Development & Policy Systems Change

Work with LISC NYC staff to develop and implement programs that apply LISC’s technical assistance and financing capabilities to solve critical challenges identified through LISC NYC’s strategic planning process.

Collaborate with the LISC NYC Director of Policy and the LISC NYC Leadership Team to elevate lessons learned from LISC NYC’s transactional work and shape a more robust policy and advocacy agenda at the state and local level.

Requirements:

Bachelor’s degree from an accredited college or university required. Master’s degree in real estate, finance, urban planning, public administration or related field preferred.

At least 5 years of experience in lending, finance, community development or related field, with demonstrated experience in real estate development, particularly underwriting, deal structuring and financial analysis.

Familiarity with the New York City area market, along with familiarity with city, state and federal government financing programs, including bond and tax credit financing, available to support projects.

Knowledge of financing products such as predevelopment, acquisition, construction, bridge and permanent loans; lines of credit; and tax credit equity.

Demonstrated ability to manage multiple, complex transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines.

Commitment to the community development sector and the critical role of nonprofit organizations in driving social change and preserving affordable housing.

Ability to work collaboratively with co-workers and representatives from the nonprofit, corporate, philanthropic and public sectors, and demonstrated flexibility and poise in dealing with a diverse range of individuals and organizations.

Entrepreneurial spirit and ability to work independently on multiple tasks and projects, set priorities for a challenging workload, and be a positive, solution-oriented professional.

Excellent writing, financial analysis and verbal communication skills required.

Candidates with commensurate experience may be considered for the title Senior Community Development Officer for Housing.

Compensation:

LISC offers a competitive salary and excellent benefits.

How to Apply:

Please send cover letter and resume via e-mail to (please note that applications without a cover letter will not be considered):

Sam Marks
Executive Director
LISC NYC
501 Seventh Avenue, 7th Floor
New York, NY 10018
liscnycresumes@lisc.org

LISC IS AN EQUAL OPPORTUNITY EMPLOYER
COMMITTED TO DIVERSITY AND INCLUSION

Senior Underwriter, Commercial Lending Capital for Change
Wallingford, CT
Job Function: Lending/Loan Operations
Posted: May 1, 2019

Background:

Capital for Change (C4C) is the largest full-service Community Development Financial Institution (CDFI) in Connecticut offering capital solutions that create and sustain lasting positive change for low-income communities, broaden social and economic participation, and encourage economic growth and environmental sustainability. C4C provides financing with an approach that one size does not fit all, which allows C4C to provide high impact products and programs that create and preserve affordable housing, increase adoption of energy efficiency, support mixed-use and small business development, and assist nonprofit organizations.

Position Summary:

This position has both a programmatic and lending focus as affordable multifamily housing loans often support projects that rely on subsidy as part of the financing stack. The incumbent assists the Director of Commercial Lending with the development, implementation, tracking, use of C4C’s housing subsidy program funding, including participating in grant writing and program reporting.

Responsibilities:

Loan Underwriting and Approval

-Work closely with Lending team to help source and underwrite impactful loans that adhere to underwriting standards.
-Build and maintain close working relationships with referral sources, potential partners, potential borrowers and funding sources.
-Assess applicant's financial strength by reviewing financial statements, audits, tax returns, credit reports and organizational documents.
-Assess applicant's organizational capacity to carry out a project by reviewing experience, references, development team, etc.
-Assess strength and feasibility of projects by reviewing project descriptions, scopes of work, financing sources and uses, development and operating pro formas, real estate valuations and appraisals, environmental reports, insurance coverage, neighborhood and community characteristics
-Provide informal technical assistance through the application and underwriting process and, as needed coordinate delivery of formal technical assistance activities through internal and external sources.
-Prepare Loan Approval Document (LAD) and Risk Rating in accordance with internal credit and programs requirements and present to Loan Committee or other loan approval authority as designated in Loan Policies.
-Develop comprehensive understanding of C4C’s loan products and programs, policies and procedures and assist in updating and modifying where needed.
-Identify and work with other lenders on loan participation opportunities.
-Monitor market needs and assist in development of new products/programs as appropriate.
-Assist Lending department in meeting lending goals
-Develop and maintain an understanding of C&I/small business lending

Loan Closing, Monitoring and Administration

-Assist in loan closing activities including coordination with attorney, review of commitment letters and documents as needed.
-Manage contracting with relevant consultants (e.g. appraisers, inspectors, etc.)
-Prepare booking form for onboarding loans and compiling impact data.
-Assist in reporting to funders, staff, Loan Committee and Board as needed.
-Assist in modification, renewal and work out of loans as needed.
-Provide support and input to Portfolio Manager in an ongoing capacity.
-Review and approve loan draw requests.

Program Management

-Participate in new loan program development, designs and proposes programmatic guidelines and parameters.
-Assist in preparation of financing and grant applications.
-Manage relationships with program sponsors, funders and contracting entities.
-Compile monthly, quarterly and annual reports to funding agencies as required.
-Other activities as needed and directed by supervisor.

Requirements:

Core Competencies

-Analytical skills, risk assessment, organizational skills and attention to detail.
-Concise and well-structured writing skills, and effective presentation skills.
-Ability to work independently and to collaborate with a team.
-Strong interpersonal skills, able to communicate effectively in writing and speaking.
-Computer competencies including Office 365, especially Excel and Word skills, and ability to learn other software applications. Salesforce experience highly desirable.
-Ability to handle multiple tasks and to operate productively without extensive supervision.
-Excellent problem-solving abilities
-Commitment to clear, detailed, service-oriented communication with borrowers and C4C colleagues.
-Commitment to equitable community development and the core mission of C4C.
-Effective management skills
-Knowledge of public and private resources available to leverage C4C’s loan products highly desirable.

Required Experience & Certifications

-Bachelor’s degree or equivalent experience in relevant field, i.e., real estate, finance, urban planning, or business, MBA highly desirable. .
-Minimum five years of loan underwriting experience at a CDFI, bank or other financial institution related to affordable housing development, and commercial and housing real estate construction.
-Understanding of and experience with community development lending and public and private sector funding sources
-Grant writing experience preferred.
-Commercial credit training desirable

Compensation:

55,000-85,000

How to Apply:

Apply at: https://www.ziprecruiter.com/job/41f90cdc

Loan Officer - Multi-Family Affordable Housing Capital for Change
Wallingford, CT
Job Function: Lending/Loan Operations
Posted: May 1, 2019

Background:

Capital for Change (C4C) is the largest full-service Community Development Financial Institution (CDFI) in Connecticut offering capital solutions that create and sustain lasting positive change for low-income communities by broadening social and economic participation and encouraging economic growth and environmental sustainability. We champion projects of all kinds with an approach that one size does not fit all, enabling us to create high impact products and programs that create and preserve affordable housing, increase energy efficiency, finance mixed-use development, and assist nonprofit organizations.

Position Summary:

This position’s primary responsibilities are to source and underwrite commercial loan requests and close and monitor loans to expand C4C’s mission and impact with a focus on C4C’s construction and permanent loans for multifamily affordable housing. The Loan Officer will work closely with the Lending team to provide technical assistance and excellent customer service. The job will include regular travel throughout the State.

Responsibilities:

Business Development

-Build and maintain close working relationships with referral sources, potential partners, potential borrowers and funding sources.
-Grow the multifamily portfolio through helping develop effective marketing and communications strategies and directly prospecting multifamily housing owners, managers, developers and brokers throughout the State.
-Promote C4C’s multifamily products and services by actively participating in industry conferences, workshops, broker and investor meetings, training and other activities.
-Identify and work with other lenders on loan participation opportunities.
-Provide informal technical assistance and referrals where appropriate.
-Monitor market needs and assist in development of new products/programs as appropriate.
-Assist Lending department in meeting lending goals

Loan Underwriting and Approval

-Assess applicant's financial strength by reviewing financial statements, audits, tax returns, credit reports and organizational documents.
-Assess applicant's organizational capacity to carry out a project by reviewing experience, references, development team, etc.
-Assess strength and feasibility of projects by reviewing project descriptions, scopes of work, financing sources and uses, pro forma development and operating budgets, real estate valuations and appraisals, environmental reports, insurance coverage, neighborhood and community characteristics
-Provide informal technical assistance through the application and underwriting process and, as needed coordinate delivery of formal technical assistance activities through internal and external sources.
-Understand how other C4C products, including subsidy funds and energy funds, can be leveraged in loan structuring
-Prepare Loan Approval Document (LAD) and Risk Ratings in accordance with internal credit and programs requirements and present to Loan Committee or other loan approval authority as designated in Loan Policies.
-Develop comprehensive understanding of C4C’s loan products and programs, policies and procedures and assist in updating and modifying where needed.

Loan Closing, Monitoring and Administration

-Assist in loan closing activities including coordination with attorney, review of commitment letters and documents as needed.
-Manage contracting with relevant consultants (e.g. appraisers, inspectors, etc.)
-Prepare booking form for onboarding loans and compiling impact data.
-Assist in reporting to funders as needed.
-Assist in modification, renewal and work out of loans as needed.
-Provide support and input to Portfolio Manager in an ongoing capacity for collections, annual reviews, modifications, risk rating changes, workouts, etc…
-Review, approve and track loan draw requests and third-party expense reimbursements.
-Other activities as needed and directed by supervisor.

Requirements:

Core Competencies

-Analytical skills, risk assessment, organizational skills and attention to detail.
-Excellent written, verbal and interpersonal communication skills
-Ability to work independently and to collaborate with a team.
-Computer competencies including Office 365, especially Excel and Word skills, and ability to learn other software applications.
-Ability to handle multiple tasks and to operate productively without extensive supervision.
-Good problem solving abilities
-Commitment to clear, detailed, service-oriented communication with borrowers and C4C colleagues.
-Commitment to equitable community development and the core mission of C4C.

Required Experience & Certifications

-Bachelor’s degree or equivalent experience in relevant field (i.e. real estate, finance, urban planning, or business).
-Minimum three years of loan underwriting experience at a CDFI, bank or other financial institution related to affordable housing development, and commercial and housing real estate construction.
-Proven ability to generate client leads and maintain business relationships.
-Understanding of and experience with community development lending and public and private sector funding sources
-Knowledge of energy lending underwriting a plus.
-Willingness and ability to travel throughout Connecticut market.
-Commercial Credit training highly desirable

Compensation:

65,000 - 115,000

How to Apply:

Apply at: https://www.ziprecruiter.com/job/0797d6e7

Resource Development Specialist Upper Manhattan Empowerment Zoner
New York, NY
Job Function: Grant Writer
Posted: April 30, 2019

Background:

The mission of the Upper Manhattan Empowerment Zone Development Corporation (UMEZ) is to sustain the economic revitalization of all communities in Upper Manhattan through job creation, corporate alliances, strategic investments and small business investments. UMEZ facilitates economic development in the neighborhoods of Central, East and West Harlem, Washington Heights; and Inwood.
UMEZ is an independent not-for-profit corporation created in 1995 and has invested $250 million in the Upper Manhattan community, leveraging over 1.1 billion in private capital, and has funded 100 small businesses.
UMEZ is a recognized Community Development Financial Institution (CDFI) with over $80 million in assets. UMEZ is proud to be certified by the U.S. Department of the Treasury’s CDFI Fund as a part of a national network promoting economic growth by financing businesses, creating jobs, and rebuilding neighborhoods.

Position Summary:

Summary: The Resource Development Specialist is responsible for supporting organizational efforts to strategically seek funding from corporations, banks, government sources, foundations and other philanthropic organizations to further UMEZ’s mission. In collaboration with Senior Management, this role will work with cross-functional teams to provide strategic insight, and specifically manage, execute, and write proposals which includes progress reporting and data base tracking.

Responsibilities:

Essential Duties and Responsibilities: Include the following and other duties may be assigned:

• Assist in developing and identifying new funding opportunities with corporations, foundations, banks and government sources by providing recommendations and briefings to the CEO
• Under the direction of the CEO, prepare letters of interest and grant proposals for funding opportunities
• Prepare funding reports, prospect research, tracking, and collecting necessary data for reporting purposes to funders; update tracking spreadsheet for funding, including deliverables to ensure timely fulfillment of funding requirements
• Prepare funding requests, overseeing proposal coordination, including research, grant writing and editing funding proposals
• Work with the Senior Management to coordinate information for proposals
• Supports strategic planning and proposal development phases working collaboratively with Senior Management
• Cultivate and maintain relationships with funders such as other funders, corporate, foundations and other philanthropic organizations

Requirements:

• Undergraduate degree in business or a related field
• Experience working with Community Development Financial Institution (CDFI) Industry
• 3-5 years in development experience
• Experience in financial management, Salesforce, capitalization, legal, program management or lending
• Ability to multitask, work independently and interdependently
• Must be able to engage in a tactful manner with colleagues, potential borrowers, and existing borrowers
• Strong interpersonal, written and oral communications skills
• Exceptional attention to detail
• Community residence and/or familiarity with Upper Manhattan community preferred

Compensation:

Will commensurate with experience

How to Apply:

Interested candidates should e-mail or mail a resume and cover letter to:

Danessy Pico
Human Resources Manager
55 West 125th Street, 11th Floor
New York, New York 10027
HR@umez.org
Attn: Resource Development Specialist

No Phone Calls or Faxes Please

Senior Underwriter Upper Manhattan Empowerment Zoner
New York, NY
Job Function: Underwriting
Posted: April 30, 2019

Background:

The mission of the Upper Manhattan Empowerment Zone Development Corporation (UMEZ) is to sustain the economic revitalization of all communities in Upper Manhattan through job creation, corporate alliances, strategic investments and small business investments. UMEZ facilitates economic development in the neighborhoods of Central, East and West Harlem, Washington Heights; and Inwood.
UMEZ is an independent not-for-profit corporation created in 1995 and has invested $250 million in the Upper Manhattan community, leveraging over 1.1 billion in private capital, and has funded 100 small businesses.
UMEZ is a recognized Community Development Financial Institution (CDFI) with over $80 million in assets. UMEZ is proud to be certified by the U.S. Department of the Treasury’s CDFI Fund as a part of a national network promoting economic growth by financing businesses, creating jobs, and rebuilding neighborhoods.

Position Summary:

Summary: The Senior Underwriter will serve as the primary underwriter for loan transactions, loan structuring, and will work in conjunction with the Business Investments team in determining credit risk, financial analysis and investments. This role will provide feedback and technical assistance across full range of lending activities, including structuring, underwriting and closing of Commercial & Industrial (C&I) and/ or Commercial Real Estate Loans.

Responsibilities:

Essential Duties and Responsibilities: Include the following and other duties may be assigned:

• Serve as primary underwriter for C&I and/or Commercial Real Estate loan transactions which includes working with Business Investments team to structure transactions, conducting due diligence, financial analysis and drafting credit memoranda
• Work with borrowers, analyze, and evaluate applications for credit and ascertain all necessary due diligence and documentation
• Perform full credit analysis and projection scenarios for proposed loan fund clients
• Structure loan terms and assist in the closing process for approved loans by working with the Legal Department and borrowers on necessary documentation
• Prepare written analysis of loan applicants and present written and oral recommendations to the Loan Committee
• Work with the Business Investments team in strategizing and designing new loan products and lending programs
• Provide technical assistance to Business Investment team; perform primary underwriting in the form of structuring assistance, support, and guidance concerning the compliance of underwriting criteria

Requirements:

• Undergraduate degree in business or a related field; MBA preferred
• Strong knowledge and experience with C&I and/or Commercial Real Estate loan transactions, loan structuring and underwriting with the ability to analyze financial statements
• 7-10 years in credit analysis and underwriting
• Ability to multitask, work independently and interdependently
• Must be able to engage in a tactful manner with colleagues, potential borrowers, and existing borrowers
• Strong interpersonal, written and oral communications skills and excellent attention to detail
• Community residence and/or familiarity with Upper Manhattan community preferred
• Bi-Lingual, English and Spanish, a plus but not necessary

Compensation:

Will commensurate with experience

How to Apply:

Interested candidates should e-mail or mail a resume and cover letter to:

Danessy Pico
Human Resources Manager
55 West 125th Street, 11th Floor
New York, New York 10027
HR@umez.org
Attn: Senior Underwriter

No Phone Calls or Faxes Please

Loan Portfolio Administrator First State Community Loan Fund
Wilmington, DE
Job Function: Lending/Loan Operations
Posted: April 30, 2019

Background:

Established in 1992, First State Community Loan Fund (FSCLF) is a not-for-profit, federally certified, Community Development Financial Institution (CDFI) that supports small businesses and community development projects with a special emphasis on underserved and low-income communities. FSCLF’s mission is to educate and empower business owners and to increase access to capital throughout Delaware and southeastern Pennsylvania. To learn more about FSCLF, visit: www.firststateloan.org.

Position Summary:

Responsible for managing and maintaining FSCLF’s loan portfolio records and systems, as well as providing financial support to the Finance Manager. Works closely with the lending team to ensure all loan closing conditions are met, recorded, and that all loans are appropriately monitored until repaid fully. Works closely with Finance Manager to ensure loan portfolio records match financial accounting records.

This position will also play a critical support role in designing and implementing reporting and technology upgrades to the existing Loan Portfolio System (Portfol), as well as automating loan administration processes and practices. Responsibilities also include assistance with the preparation of investor/funder and regulatory reports. Serves as a departmental resource for the President & CEO, the Director of Lending and the Finance Manager as needed.

Responsibilities:

Responsibilities include but are not limited to:

1. Manage all aspects of Loan Administration, including but not limited to closed loan data entry, processing loan payments and distributions, processing loan modifications, preparing loan payoffs, as well as monitoring compliance of borrower’s reporting and repayments.
2. Manage the on-boarding of new loans, and modifications to existing loans, into the loan portfolio system.
3. Ensure timely submission of inbound reporting from borrowers and outbound reporting to all required internal and external parties.
4. Perform general maintenance on Loan Management Software (Portfol) as needed.
5. Conduct post-loan closing file reviews, ensuring the basic requirements of loan purpose, term, collateral and financial qualifications fit the various federal and state lending program criteria. Work with Director of Lending to ensure documentation for all FSCLF lending programs is compliant with both internal and external requirements.
6. Monitor and ensure borrower compliance with all insurance, collateral, and security documentation requirements.
7. Manage and disseminate all regular portfolio reporting: delinquency reports, borrower risk rating and status reports.
8. Work closely with Finance Manager to reconcile loan portfolio to accounting records.
9. Assist Finance Manager and President & CEO with the preparation of investor/funder reports, including but not limited to the CDFI Fund, Small Business Administration, and USDA.
10. Assist Director of Lending and Lending Team, Finance Manager, and President & CEO on other projects or deliverables, as needed.

Requirements:

1. Required: Bachelor’s Degree or 3-5 years direct related work experience.
2. Required: Solid knowledge of basic accounting practices with an ability to understand financial statements and loan documentation.
3. Preferred: 3-5 years of experience in loan operations and/or financial accounting in lending organizations.
4. Helpful: technology project management experience.
5. Helpful: Experience with Portfol portfolio management system.
6. Helpful: Experience in community development, federal, and/or state lending programs.
7. Required: Superior analytical and organizational skills.
8. Required: Superior written and verbal communication skills.
9. Required: Superior interpersonal skills and ability to work well with diverse constituents.
10. Required: Proficient with MS Office Products/Internet.
11. Required: Ability to work independently or in team environment, as well as the ability to manage multiple tasks effectively and efficiently under minimal supervision.
12. Experience in nonprofit or small office environment a plus.
13. Job involves normal physical requirements for an office position.
14. Minimal travel required (less than 5% of time).

EOE/V/D/AA Compliant.

Compensation:

Competitive salary commensurate with experience. Medical, Dental, Vision, Life & Disability coverage available. Retirement plan (some employer contribution & matching); paid vacation (increased with tenure), holiday and sick leave days.

How to Apply:

Interested parties should submit their resume and a cover letter to: dlee@firststateloan.org. Or mail to:

First State Community Loan Fund
100 West 10th Street, Suite 300
Wilmington, DE 19801

Attn: Office Manager

Sr. Community Development Lender Flagstar Bank, FSB
Troy, MI
Job Function: Business Development
Posted: April 29, 2019

Background:

Flagstar Bank offers exceptional full-service banking and lending expertise with a distinctive, personal focus. Chartered in 1987 as a federal savings bank, today Flagstar has assets of $19.4 billion, is the fifth largest bank mortgage originator nationally, and the third largest savings bank in the country. Our team’s financial craftsmen possess skill and pride in their work that is reflected in their commitment to creating solutions tailor-fit for each customer.

Access to the proper tools—like our wide range of consumer, business, and commercial products and services—is vital for any specialist’s success. After carefully listening to clients, Flagstar’s craftsmen know exactly which tools will work best to create a custom solution for their needs.

Our commitment extends to the community, where we support efforts which promote homeownership and financial well-being, including special grant programs, down payment assistance, and CRA mortgage programs. Our employees donate their time volunteering in a variety of programs and organizations in the communities we serve.

We operate 160 branches in Michigan, Indiana, California, Wisconsin, and Ohio and provide a full complement of products and services for consumers and businesses. Our commercial banking business is based on relationships and built on trust, relying on talented bankers to custom-craft solutions for customers. Our mortgage division operates nationally through 72 retail locations and a wholesale network of approximately 2,000 third-party mortgage originators. We are also a leading servicer and subservicer of mortgage loans—handling recordkeeping for $200 billion in home loans.

Flagstar Bank is a subsidiary of Flagstar Bancorp, which is listed on the New York Stock Exchange under the symbol FBC.

Position Summary:

Reporting to the Community Reinvestment Act Director, the Sr. Community Development Lender will lead the expansion of the Bank's existing community development loan portfolio, focusing exclusively on eligible activities to meet the bank’s CRA lending objectives. In this role, the Sr. Community Development Lender will serve as the lead in community development lending with a special focus on Low Income Housing Tax Credit financing. Primary responsibilities will consists of assisting the CRA Director in developing and administering the bank’s community development lending strategy. The Sr. Lender will be responsible for new CRA business development (including underwriting and closing the LIHTC, NMTC, and other deals), portfolio management, developing credit parameters, credit quality, assisting with training and development of junior CD lenders and overall relationship management of the bank’s community development portfolio.

This position will also work collaboratively with the CRA, Retail and Residential Mortgage, Consumer, Commercial, Business Banking, Small Business, and Small Business Administration lending areas to guide the development and implementation of a program to generate increased consumer and business loan application volume for low-to-moderate income individuals, households and communities, including majority-minority communities, within the bank’s CRA assessment area. The Sr. Community Development Lender possesses a strong initiative and works well independently to drive innovative and complex balance sheet loans and permanent debt production with a primary focus on the affordable housing industry. He/she will be responsible for marketing and coordinating the delivery of community development/affordable housing financing and various banking products and services to clients and prospects. He/she will originate and evaluate community development focused low income housing and new market tax credit lending investments. He/she will own aspects of originating balance sheet and permanent affordable housing loans in their assigned territory. Other responsibilities include keeping in regular contact with high profile clients and prospects throughout the assigned territory. Ensuring that products and services are delivered in a quality manner and in accordance with the Bank’s goal of a high level of service. Acting as a trusted advisor to both current clients and future relationships.

Responsibilities:

New Business Generation (Relationship Management/Revenue Generation) Develop and expand relationships with not-for-profit entities, affordable housing agencies, developers, local business associations, and government agencies to identify community development lending opportunities within the bank’s assessment areas, and in majority-minority geographies and demographics that help the bank meet its’ CRA Lending goals.

-Lead the development and implementation of the bank’s community development strategy and community development loan portfolio.
-Market, identify and develop CRA customer base - develop focused strategies for acquiring, retaining and growing select clients
-Originate LIHTC, New Markets, CDFI, and loans from non-profits – including underwriting and closing the deals
-Cross-sell other banking solutions such as deposit accounts and other referrals

Credit Quality: On-going maintenance of loan portfolios by pro-actively monitoring credit quality of portfolio through timely financial statement gathering, monitoring client’s compliance with ongoing required reporting, properly analyzing financial information and taking or recommending appropriate corrective actions based on acceptable levels.

-Leads and participates in credit processes and assumes ultimate accountability for all portfolio activities/issues ensuring sound asset quality, including underwriting, structuring and asset management activities.
-Takes proactive role in coordinating and underwriting to multiple funding sources for projects and understands and explains to clients the possibilities and limitations in the context of project funding.

Onboarding: Collaborating with Credit team and outside counsel as needed to prepare credit approval documents and managing onboarding process to ensure transactions are booked appropriately.

Compliance: Adhere to all regulatory and compliance issues linked to the job and the team and understand how these issues help the bank achieve the vision of remaining an independent bank.

Requirements:

-Bachelor’s Degree Required
-12 years combined experience in the following areas: Community development banking/lending and community development underwriting including experience in LIHTC (low income tax credit investments) Commercial lending experience, experience in portfolio management and credit analysis.
-Experience implementing creative selling and innovative problem solving techniques
-Proven experience and broad understanding of LIHTC investments, tax exempt bond financing and other government loan programs for housing development and other non-traditional investment products and programs.
-Demonstrated proficiency in executing a disciplined sales process.
-Strong knowledge of financial markets. Strong verbal and written communication skills
-Knowledge of financial analysis; credit analysis skills.
-Excellent verbal and written communication skills and presentation skills
-Travel Required: 40 to 50% or more time as needed in the community

Compensation:

Based on education and experience.

How to Apply:

Please visit our career page at www.flagstar.com/careers and click on the job "Sr. Community Development Lender"

Executive Director CDFI Friendly Bloomington
Bloomington, IN
Job Function: Other
Posted: April 26, 2019

Background:

CDFI Friendly Bloomington (CFB), a startup 501.c.3 nonprofit, is seeking a founding Executive Director. CFB aims to:

• Create a new model for CDFI financing, by establishing local CDFI Friendly Bloomington to collaborate with regional and national CDFIs and encourage them to serve the Bloomington market;
• Market and promote Bloomington and Monroe County to CDFIs across the state, the region, and the nation;
• Match CDFIs to local demand for financing from businesses, housing developers, nonprofits, and community organizations;
• Structure and manage financial investments alongside the CDFIs in support of local borrowers.

Position Summary:

The founding Executive Director is the primary staff person to set up the organization, with support from the founding Board of Directors, and to lead it in its work. The ideal candidate will bring credit experience at a CDFI and/or in community development, experience or capacity to manage a startup organization, strong leadership qualities, and the disposition for working closely with a nonprofit board. Familiarity with Bloomington/Monroe County is a plus.

Responsibilities:

The Executive Director will lead CDFI Friendly Bloomington through its start-up phase to full-scale operations. To that end, the Executive Director will assume responsibility in the areas of program development, management, fundraising and public relations. The Executive Director will:

Program
• Represent CDFI Friendly Bloomington in the local community, promoting its goals and services, and with the CDFI industry locally, regionally, and nationally, advocating and advancing local financing opportunities.
• Develop outreach and marketing materials to distribute to potential partners, investors, funders, and allies.
• Coordinate CDFI Friendly Bloomington’s work with investors, funders, the City of Bloomington, and others pursuing aligned goals.
• Participate in CDFI industry activities to understand CDFI priorities, to promote Bloomington and Monroe County, and to seek financial support.
• Negotiate and structure financing using CDFI Friendly Bloomington’s defined products, present financing opportunities to CFB’s Investment Committee and Board, close transactions, and monitor investments and portfolio performance.
• Report regularly to the Board and to investors on programmatic outcomes and performance.
• Develop and propose programmatic adjustments and/or enhancements in pursuit of CDFI Friendly Bloomington’s mission and purpose.
• Provide strategic direction and leadership, including recommending to the Board of Directors possible improvements in the organization’s strategy and program.

Management
• Set up and supervise operating systems, including financial management, operational polices, loan policies, and other core functional procedures.
• Create and implement procedures and documentation to close funding and financing as well as other contractual business relationships for CDFI Friendly Bloomington.

Fundraising
• Develop a fundraising strategy and raise funds, as determined with the Board of Directors, to ensure ongoing operations and organizational sustainability.
• Manage relationships with funders and investors, including seeking and cultivating relationships with new and additional funders and investors, as needed.
• Maintain and track fundraising data

Public Relations
• Conduct organized and effective public relations effort in local and CDFI markets through social media, earned media, and direct communications.
• Ensure clear understanding of and encourage strong support for the goals and mission of CDFI Friendly Bloomington.

Requirements:

This position involves an unusual blend of financial experience, credit expertise, nonprofit management history, and local market awareness. The Executive Director must have strong financial, writing, speaking, public relations, management, leadership, and planning skills. They must be able to work in both the local community with partners that bring diverse backgrounds and skills as well as in the financial marketplace of CDFIs, banks, and foundations. They should be skilled organizers able to bring together people across multiple areas of expertise and diverse cultures.

The Executive Director must have a bachelor’s degree. A master’s degree in business, management, economic or community development, banking, and/or finance is a plus. They must have at least five (5) years of work experience including management, credit, and public-facing duties such as public relations. Strong candidates will demonstrate continuous growth in responsibility in their work and regular pursuit of promising new opportunities.

Compensation:

Benefits package valued from $100,000–$120,000 commensurate with experience

How to Apply:

Please submit your cover letter and resume or CV to

CDFI Friendly Bloomington
c/o Community Foundation of Bloomington and Monroe County
100 S. College Avenue, Suite 240
Bloomington, IN 47401
or
info@cfbmc.org

CDFI Friendly Bloomington is an equal opportunity employer and offersemployment opportunity without regard to race, creed, color, ethnicity, national origin, sex, sexual orientation, sexual expression, age, marital status, physical ability, pregnancy, religion, veteran status or military obligations.

Pages

Print Friendly, PDF & Email