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Credit Manager – Program Officer

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Published 28 days ago

Position Title:                                 Credit Manager – Program Officer

Reports To:                                     Executive Vice President, Lending

Job Classification:                        Exempt/Full-Time

Location:                                          New York, NY (LISC HQ)

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 40 years, LISC and its affiliates have invested approximately $22 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 36 markets with offices extending from Buffalo to San Francisco. Visit us at www.lisc.org

Lending

A core function of LISC is its operation as a loan fund. LISC provides various loan products to a wide array of project types. All loans are subject to oversight by LISC’s Lending Department. In 2020, LISC closed $180 million in new loan commitments, and the outstanding loan portfolio at quarter-end in March 2021 was $514 million.

Position Description

LISC is seeking a qualified candidate for a Credit Manager at the Program Officer (PO) level. This position will be part of LISC’s Lending Department and will report to LISC’s Executive Vice President. The PO will be responsible for providing technical assistance to LISC local program staff and underwriting assistance on behalf of LISC local programs across a wide array of community and economic development product types and asset classes, including but not limited to affordable housing, community facilities, commercial real estate, small business, federally qualified health centers, grocery stores, and nonprofit social enterprises. The PO will work in concert with Lending, Finance and Legal department staff and serve as a coordinator of national LISC lending resources.


Responsibilities

Lending Process

  • Manage the review of loan requests specific to special funding sources to ensure adherence to conditions set forth by Assistance Agreements and Credit Committee, working closely with legal and finance staff prior to formal loan approval and closing.
  • Project Manage racial equity in lending reform initiatives, including leading the creation of an impact matrix, undertaking a borrower and stakeholder survey and updating underwriting guidelines to reflect new practices.


Federal Contract Compliance

  • Manage LISC’s annual performance reporting for all federal contracts through the Community Development Financial Institution (CDFI) Fund, including the Capital Magnet Fund, Healthy Food Financing Initiative, and Financial Assistance awards
  • Project manage the CDFI Fund application process, creating weekly meetings eight to ten weeks in advance of application deadline, creating and managing the master copy of the application, assist with edits and compilation of final draft. 
  • Ensure compliance with all LISC’s contracts by tracking resource allocation and monitoring all performance goals and measures required under assistance agreements.
  • Resource allocation for certain specialized funding sources from a variety of funders and lenders to assist LISC in maintaining fiduciary compliance


Underwriting Support

  • Manage the review of loan requests for Credit Committee meetings to ensure adherence to conditions set forth by Credit Committee.
  • Serve as primary underwriter for certain local offices and certain transactions, including working with borrowers and partners to structure the transaction, conducting due diligence and financial analyses, and drafting credit memoranda.
  • Analyze Borrower financials, of both nonprofit and for-profit entities, to spread historical financials and analyze cash flow projections.
  • Review due diligence for loans including environmental assessments, appraisals, project financing term sheets, and other third-party reports.


Communications & Training

  • Create marketing and communication materials to share with internal and external audiences including panel submissions to conferences, quarterly newsletters and pitch books for our existing and potential external financing sources
  • Present CDFI Fund specific field guides and trainings
  • Perform other related duties as needed.


Qualifications

  • Bachelor’s degree from an accredited college or university.
  • Minimum 5 years professional work related credit experience.
  • Strong financial analysis skills, including ability to analyze financial statements, project development budgets, and project operating pro formas.
  • Interest in public policy efforts and federal grant programs.
  • Familiarity with government subsidies and tax credit programs.
  • Strong written and oral communication skills and excellent attention to detail.
  • Excellent interpersonal skills and ability to work effectively across the LISC network of local and national programs and affiliates
  • Good organizational abilities, including ability to work independently and to manage multiple assignments simultaneously.


Job Specifications

LISC provides a competitive salary and excellent fringe benefits. The position is available immediately. To apply, please email a cover letter and resume to: CStewart@lisc.org


LISC IS AN EQUAL OPPORTUNITY EMPLOYER

COMMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE

Position Title:                                 Credit Manager – Program Officer

Reports To:                                     Executive Vice President, Lending

Job Classification:                        Exempt/Full-Time

Location:                                          New York, NY (LISC HQ)

The Organization

What We Do

With residents and partners, LISC forges resilient…

Details at a Glance

  • Time Commitment
    Full Time Schedule
  • Education
    4-Year Degree Required
  • Professional Level
    Managerial

Location

Temporarily Remote
Work must be performed in or near New York, NY
Associated Location
New York, NY, USA

How to Apply

Job Specifications

LISC provides a competitive salary and excellent fringe benefits. The position is available immediately. To apply, please email a cover letter and resume to: CStewart@lisc.org

LISC IS AN EQUAL OPPORTUNITY EMPLOYER

COMMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE

Job Specifications

LISC provides a competitive salary and excellent fringe benefits. The position is available immediately. To apply, please email a cover letter and resume to…

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