Credit Officer

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 37 markets with offices extending from Buffalo to San Francisco. Visit us at www.lisc.org

Position Description

LISC is seeking a candidate for a Credit Officer. This position will be part of LISC’s Lending Department and will report to LISC’s Vice President and Chief Credit Officer. The Credit Officer will be responsible for managing day-to-day lending activities. This includes pipeline management in coordination with the originations team, systems updates, and ensuring the smooth execution and timely implementation of the lending lifecycle. The Credit Officer also provides 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 Credit officer 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 weekly Credit Committee agenda and materials with the support of the Credit Analyst. This also includes serving as secretary for the meetings and ensure final underwriting adheres to guidelines as approved by the Committee
• Risk rate loans that will be presented at Credit Committee
• Support review of all loan requests from intake through closing, working closely with legal and finance staff prior to formal loan approval and closing
• Prepare Loan Approval Notification Letters after loans have been approved at Credit Committee
• Work with Credit Analyst to ensure the quality of data in LISC’s project data and loan administration data, including inputting and maintenance of data, and oversight of the management and use of data in a timely manner
• Compile Key Performance Indicators and suggest areas for operational/performance improvements
• Perform analysis on loan commitments and performance for ad hoc reports to senior management, including periodic reporting to ensure data integrity for LISC’s impact metrics
• Operationalize the policies and procedures for the life of a loan, working closing with Lending, Finance, and Legal department staff, and define business roles to promote efficiency

Federal Contract Compliance

• Have a broad understanding of eligibility and compliance requirements of LISC’s federal contracts through the Community Development Financial Institution (CDFI) Fund, including the Capital Magnet Fund, Healthy Food Financing Initiative, and Financial Assistance awards
• Support the Credit Analyst and Credit Manager so that they can carry out responsibilities/tasks associated with day-to-day compliance and resource management of the federal contracts with the CDFI Fund

Underwriting Support

• Support review of loan requests for Credit Committee meetings to ensure adherence to conditions set forth by Credit Committee
• Serve as primary underwriter for 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

• Support the development and preparation of LISC Lending trainings and webinars, ranging from financial analysis to key considerations in underwriting specific asset classes.
• Provide technical assistance to LISC local program staff with loan policies, procedures, and system guidance.
• 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

Perform other related duties as needed.

Qualifications

• Bachelor’s degree from an accredited college or university required.
• Minimum 3 years of job related credit analysis 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.

LISC provides a competitive salary and excellent fringe benefits. The position is available immediately.

To apply, please email a cover letter and resume.

LISC IS AN EQUAL OPPORTUNITY EMPLOYER

COMMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE

Job Type: Full-time

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Disability insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Parental leave
• Professional development assistance
• Referral program
• Retirement plan
• Tuition reimbursement
• Vision insurance

Schedule:

• Monday to Friday

Ability to Commute/Relocate:

• New York, NY 10005 (Required)

Education:

• Bachelor’s (Preferred)

Experience:

• Credit analysis: 3 years (Preferred)

Work Location:

• One location

Work Remotely:

• Temporarily due to COVID-19