Lending/Loan Operations

Opportunity Finance Network; Baltimore (MD); Hybrid; USD 180,000 - 260,000; Full time

Job summary

Maryland Community Investment Corporation is seeking a Chief Investment Officer to lead all investment activities and shape the state’s mission finance infrastructure. This startup-like organization aims to establish new lending funds, position MCIC for NMTC allocation, and build a scalable investment platform.

The CIO will collaborate with senior leaders to refine underwriting standards, drive portfolio performance, and advance innovative capital strategies across Maryland, balancing prudent

Qualifications

• Eight to ten years of progressively responsible experience in commercial lending, community development finance, real estate finance, or impact investing.
• At least four years of supervisory experience involving policy development, strategic planning, and management of professional staff.
• Experience underwriting complex real estate or community development transactions.
• Demonstrated success managing lending portfolios and borrower relationships.
• Working knowledge of New Markets Tax Credit, Low-Income Housing Tax Credit, Historic Tax Credits, public finance, state and federal economic development programs, and community development lending.
• Relationships with Maryland’s finance, government, philanthropic, or real estate communities are highly desirable.

Responsibilities

• Lead all underwriting, due diligence, and investment analysis for MCIC lending activities.
• Recommend credit decisions to executive leadership and the Board.
• Plan, facilitate, and staff Investment Committee meetings.
• Develop and continuously improve underwriting standards, lending policies, and credit procedures.
• Oversee ongoing portfolio monitoring and periodic portfolio reviews.
• Lead loan modifications, restructurings, and workouts balancing prudent risk with mission objectives.
• Monitor portfolio performance, asset quality, covenant compliance, and organizational risk.
• Ensure accurate investment reporting for leadership, the Board, auditors, and funding partners.
• Cultivate a statewide pipeline of community development lending opportunities.
• Conduct outreach with nonprofit developers, local governments, community development corporations, financial institutions, and state agencies.
• Conduct regular site visits with borrowers and prospective partners across Maryland.
• Represent MCIC at conferences, community meetings, and industry events.
• Identify emerging market opportunities, new lending products, and innovative capital sources.
• Lead or support design and implementation of future lending initiatives, including the Rural and Small Cities Predevelopment Loan Fund.
• Explore opportunities to braid state, federal, philanthropic, and private capital to support equitable development.
• Contribute to the organization’s evolving NMTC strategy and capitalization.

Job description

Company: Maryland Community Investment Corporation

Job Function: Lending/Loan Operations

Posted on: August 6, 2026

Background

The Maryland Community Investment Corporation (“MCIC”) seeks a Chief Investment Officer to help build one of the State’s newest and most innovative community development financial institutions.

Created by Governor Wes Moore and the Maryland General Assembly in 2024 as part of the Turning the Key legislative package, MCIC was established to address housing affordability and access to opportunity across Maryland. As an instrumentality of the State of Maryland, MCIC serves as Maryland’s dedicated Community Development Entity within the federal New Markets Tax Credit (“NMTC”) Program.

Today, MCIC is entering its next stage of growth. The organization has successfully launched its inaugural lending initiative as the financial intermediary for the Baltimore Vacants Reinvestment Initiative (“BVRI”), originating and servicing low-cost acquisition and rehabilitation loans for community development organizations revitalizing formerly redlined Baltimore neighborhoods. With that platform established, MCIC is preparing to launch a new statewide rural and small cities predevelopment loan fund while simultaneously building the five-year lending track record required to become a competitive applicant for New Markets Tax Credit allocation from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund.

The Chief Investment Officer will help lead this transition. Reporting to the Chief Executive Officer and partnering closely with the Chief Operating Officer and fractional Chief Financial Officer, the CIO will lead all investment activities while helping shape the next chapter of Maryland’s mission finance ecosystem.

Summary

The Chief Investment Officer will have the rare opportunity to help build Maryland’s long-term community development finance infrastructure from the ground up. Over the next five years, this leader will help establish new lending funds, position MCIC for future NMTC allocation, shape the organization’s capitalization strategy, and build the investment platform that will define MCIC for decades.

Because MCIC remains a start-up organization, the ideal candidate will also bring flexibility, curiosity, humility, and a healthy sense of humor. As new lending initiatives are launched, the CIO will help shape the investment team, refine organizational processes, and contribute to a culture where innovation and collaboration thrive. This role offers a unique opportunity for an emerging executive ready for their first C-suite position or an experienced investment leader seeking to apply their expertise to building an innovative new institution.

MCIC draws inspiration from both Collective Action for Just Finance and the Opportunity Finance Network. We believe rigorous underwriting and bold community partnership are not competing values; they are mutually reinforcing. Therefore, the ideal candidate will ensure that equitable lending practices remain at the center of every investment.

Responsibilities

Qualifications

The successful candidate will likely bring many of the following experiences:

• Eight to ten years of progressively responsible experience in commercial lending, community development finance, real estate finance, or impact investing.
• At least four years of supervisory experience involving policy development, strategic planning, and management of professional staff.
• Experience underwriting complex real estate or community development transactions.
• Demonstrated success managing lending portfolios and borrower relationships.
• Working knowledge of one or more of the following:
  • New Markets Tax Credit
  • Low-Income Housing Tax Credit
  • Historic Tax Credits
  • Public finance
  • State and federal economic development programs
  • Community development lending
• Relationships with Maryland’s finance, government, philanthropic, or real estate communities are highly desirable.

Requirements

Key Responsibilities

• Lead all underwriting, due diligence, and investment analysis for MCIC lending activities.
• Recommend credit decisions to executive leadership and the Board.
• Plan, facilitate, and staff Investment Committee meetings.
• Develop and continuously improve underwriting standards, lending policies, and credit procedures.
• Oversee ongoing portfolio monitoring and periodic portfolio reviews.
• Lead loan modifications, restructurings, and workouts when necessary while balancing prudent risk management with mission objectives.
• Monitor portfolio performance, asset quality, covenant compliance, and organizational risk.
• Ensure accurate investment reporting for executive leadership, the Board, auditors, and funding partners.

Business Development

• Cultivate a statewide pipeline of community development lending opportunities.
• Conduct outreach with nonprofit developers, local governments, community development corporations, financial institutions, and state agencies.
• Conduct regular site visits with borrowers and prospective partners throughout Maryland.
• Represent MCIC at conferences, community meetings, and industry events.

New Investment Initiatives

• Partner with the CEO and COO to identify emerging market opportunities, new lending products, and innovative capital sources.
• Lead or support the design and implementation of future lending initiatives, including the Rural and Small Cities Predevelopment Loan Fund.
• Explore opportunities to braid state, federal, philanthropic, and private capital in support of equitable community development.
• Contribute to the organization’s evolving New Markets Tax Credit strategy and long-term capitalization

Compensation and Benefits

Salary: Competitive and commensurate with experience, qualifications, and internal equity.

MCIC is committed to equitable compensation practices. Final salary will be determined based on the selected candidate’s relevant experience, demonstrated expertise, and alignment with the responsibilities of the role.

Benefits: MCIC offers a competitive benefits package, including employer-paid medical insurance with no employee premium contribution, generous paid leave, retirement benefits, and professional development opportunities.