Director of Lending and Investments

CompanyLocal Initiatives Support Corporation
Role Full Time
LocationLos Angeles, CA

Full Time
Los Angeles, CA
Posted 3 weeks ago
$127,500 - $159,400

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Website Local Initiatives Support Corporation

About Local Initiatives Support Corporation

Local Initiatives Support Corporation (LISC) is a national nonprofit organization that supports community development initiatives. Established in 1979 and headquartered in New York City, LISC has invested approximately $29.7 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment, and other projects to revitalize and stabilize underinvested communities. LISC operates in 38 markets across the U.S., serving urban and rural areas. LISC Los Angeles (LISC LA), one of the organization’s local offices, has been active for over 30 years, investing nearly $1 billion in small businesses, housing, health, education, public safety, and employment. LISC LA promotes equity and economic inclusion in low-income communities of color across LA County.

About this Role

LISC Los Angeles is seeking a skilled and experienced leader with a passion for strengthening communities through effective and thoughtful lending, technical assistance, project management, and related activities. This position will primarily support three areas of activity within the LISC LA office: affordable housing lending, small business lending, and strategic programs related to the development and preservation of affordable housing. The Director of Lending and Investments is responsible for the origination, underwriting, closings, and ongoing management of LISC’s Los Angeles housing and small business portfolios. The Director manages a staff of underwriters, housing program officers, and business development specialists tasked with building loan pipelines for LISC LA’s housing and small business lending programs. The Director of Lending and Investments will screen and structure transactions, evaluate credit risk, and manage the due diligence as part of the underwriting process. The Director leads the execution of a local lending strategy to meet annual LISC LA goals, continually improves and streamlines the underwriting process, hires and trains new staff, and is responsible for the ongoing review of work and professional development of the Housing and Small Business Lending and Programs teams. The Director drives team culture and builds strong departmental cohesiveness and collaboration. He or she also manages the team’s DEIJ (Diversity, Equity, Inclusion, and Justice) goals and progress. The Director conducts frequent early-stage discussions with developers and small business entrepreneurs and is expected to build and maintain relationships within the housing lending sector. He or she also serves as an expert in the field, presenting at conferences and on industry committees and on policy-related work. The Director travels for site visits, industry events, and presentations, which amounts to roughly 10% of domestic travel annually. This position reports to the Executive Director of LISC LA.

Responsibilities

Implement a strategic approach to lending and real estate-based transactions, designing new lending programs and creating related marketing, informational, and application materials, consistent with the direction and goals of LISC LA.
Lead best practices, programs, and policies pertaining to affordable housing and community development, including strategies to advance affordable housing acquisition and preservation, innovative financing, construction models, asset-building strategies, and community ownership models for underserved diverse communities.
Lead his or her team to research and develop resources for local, regional, and statewide policy and legislation in coordination with the Executive Director.
Lead underwriting, including working with borrowers to assess feasibility, structuring the transaction, conducting due diligence and financial analyses, and drafting credit memoranda for various types of housing-related real estate transactions including predevelopment, acquisition, construction, and permanent debt.
Guide and support the Housing Program Officer to execute external trainings, meetings, workshops, information sessions, and orientations, both virtually and in person, including programs such as LISC’s Housing Development Training Institute (HDTI), the Keep it Affordable Preservation Academy, and Faith-based Development training.
Support the administration of technical assistance to community development corporations and other strategic partners as needed.
Collaborate with other senior LISC staff to identify and secure capital resources from within and outside LISC, including philanthropic contributions and public subsidies.
Lead other special projects and duties as assigned.

Requirements

Bachelor’s degree required or commensurate experience.
Advanced degree in business, finance, public administration, or related field a plus.
At least five years of community development lending experience and demonstrated capacity to structure complex real estate development transactions.
Strong management skills and at least two years of management experience.
Demonstrated ability to manage multiple, complex transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines.
Experience with local ordinances that impact housing development, LIHTC transactions, New Markets, and Historic and Energy tax credits.
Highly detailed oriented with the ability to produce high-quality work products under deadlines.
Strong project management skills.
High proficiency in Microsoft Excel, MS Office, and financial statement analysis.
Excellent written and verbal communication skills.
Strong public speaking skills.
Commitment to LISC’s housing mission in the County of Los Angeles and across the state of California.