Position Description: Lending Program Officer
Position Location: Honolulu, Hawaii
Job Classification: Exempt / Full Time
Reports to: Executive Director - Phoenix LISC
Local Initiatives Support Corporation (“LISC”) is a national non-profit business that works with residents and partners to forge resilient and inclusive communities of opportunity across America - great places to live, work, visit, do business and raise families.
· Help deliver innovative solutions to challenges and opportunities for people and communities across America;
· Invest in under-resourced places and people;
· Ensure successful implementation of community initiatives;
· Connect stakeholders and resources to the country’s most challenged neighborhoods; and
· Build resilient people and places through our public policy leadership.
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. These investments have leveraged more than $50 billion in development activity and helped families and communities raise their standards of living. LISC investments impact the lives of nearly 7 million Americans.
Headquartered in New York City, LISC’s reach spans the country from East coast to West coast in 32 markets. Our rural programs make an impact in 44 states, and are supported by LISC’s talented and dedicated workforce.
Visit us at www.lisc.org
LISC in Honolulu
As a Community Development Financial Institution (CDFI), 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. Through our partnership with Hawaii Community Reinvestment Corporation (HCRC), residents and multi-sector stakeholders, LISC is looking to grow its lending volume in Hawaii.
Working with HCRC to assist with lending business development and loan originations in Hawaii.
Primary responsibilities will include identifying project opportunities; providing technical assistance to local borrowers; vetting of projects and financing needs; and developing key relationships and partnerships with public and private leaders in local markets. In particular, he/she is expected to have expertise in housing and/or commercial finance, preferably in low-income communities with an emphasis on neighborhood-scale economic development.
• Work with staff to build a pipeline of projects in such asset classes as affordable housing, community facilities, and commercial developments with the primary goal of generating loan activity.
• Work with LISC partners on the full-cycle of activities related to business and real estate based lending and development, providing technical assistance and identifying appropriate LISC resources as needed. This includes assessing project feasibility and the financing request, developing financing strategies and helping partners access other forms of capital including philanthropic contributions and/or public subsidies.
• Manage relationships with other strategic partners, including for-profit and nonprofit financial institutions and local, state, and national governmental subsidy programs, that could support potential permanent financing structures for LISC borrowers.
• Work with the Executive Director, HCRC and other partners to develop a strategic approach to support the growth of lending and real estate based transactions, design new lending programs and create related marketing, informational and application materials in a regional context.
• Serve as a primary underwriter, including working with borrowers to structure the transaction, conducting due diligence and financial analyses, drafting credit memoranda, and presenting loan recommendations to LISC’s national Credit Committee.
• Collaborate with internal and external parties (banks, co-lenders, attorneys, etc.) to structure financings including managing inter-creditor negotiations; local foundations; local governmental units; reviewing real estate contracts, leases and due diligence; and identifying and negotiating key risk mitigants including reserves, guarantees and other forms of credit enhancement.
• Present loan recommendations to LISC’s Credit Committee, as necessary, and manage the closing process with in-house and external counsel.
• Lead new initiatives as called upon to do so.
• Performs additional duties, as required.
Key Qualifications and Competencies:
• Bachelor’s degree from an accredited college or university with a concentration in business, finance, real estate or related fields.
• At least 5 years of relevant experience in lending, finance, community development or related field, with demonstrated experience in housing real estate development, including project financing, market analysis, deal structuring, and financial analysis.
• Familiarity with the real estate markets in the Hawaii together with familiarity with city, state and federal financing programs available to support projects.
• Demonstrated ability to manage multiple, complex transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines.
• Deep knowledge of financing products such as predevelopment, acquisition, construction, bridge and permanent loans; lines of credit; and tax credit equity, program related investments.
• Strong verbal and written communication skills. Proficiency in Microsoft Office suite, particularly Microsoft Excel. Highly detail-oriented.
• Affordable Housing Finance Certifications a plus.
• Ability to work independently and productively.
• Experience with disaster recovery funding and strategies is a plus.
• Regional travel required.
• Demonstrated interest in LISC’s community development mission.
The position is based in Honolulu, Hawaii
LISC offers a competitive salary and excellent benefits
Submit cover letter and resume to email@example.com
LISC IS AN EQUAL OPPORTUNITY EMPLOYER
COMMITTED TO DIVERSITY AND INCLUSION
Minimum Education Required