Senior Director, Underwriting & Loan Administration

Local Initiatives Support Corporation; United States; Remote; USD 127,000 - 200,000; Full time

Job summary

Join a forward-thinking organization dedicated to community development as a Senior Director of Underwriting & Loan Administration. In this pivotal role, you'll leverage over a decade of experience in non-consumer lending to manage a diverse portfolio of real estate and small business loans, focusing on social impact finance. You'll lead a skilled team, ensuring rigorous credit risk assessment and adherence to established processes. This is a unique opportunity to make a meaningful difference in communities while fostering a culture of ethical decision-making and analytical rigor. If you're passionate about driving community growth through responsible lending practices, this role is for you.

Benefits

Medical, Dental, Vision Coverage

Disability Insurance

Retirement Savings (401k and 403b)

Generous Holidays

Tuition Assistance

Referral Program

Professional Development Opportunities

Qualifications

• 10+ years of non-consumer lending experience, with leadership in banking or finance.
• Expertise in credit risk assessment and mitigation strategies.

Responsibilities

• Manage the credit approval process and develop credit policies.
• Oversee underwriting and closing processes for loans.

Skills

Credit Risk Assessment

Portfolio Management

Financial Analysis

Leadership

Community Development Finance

Education

Bachelor's Degree in Finance, Economics, or Business

MBA or similar advanced degree

Tools

Portfolio Management Software

Data Analytics Tools

Job description

Senior Director, Underwriting & Loan Administration

Remote

LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. LISC works with residents and partners to close gaps in health, wealth, and opportunity so that people and places can thrive. We do this by acting as a conduit for grants, loans and equity--and by providing technical assistance and capacity building--to locally rooted organizations that carry out the work in communities.

About LISC Fund Management

LISC Fund Management (LFM) leads the design, development, and deployment of impact investment funds in LISC's local markets nationwide. LFM employs an "impact first" investment methodology that optimizes the impact on the communities we care about while achieving sustainable risk-adjusted returns for investors.

The unique power of LISC's local office presence combined with the strength of our national investment expertise is a powerful combination for creating real impact in the communities we serve. This network requires careful coordination between LFM, the LISC Local Offices, and other stakeholders within LISC. While many groups within the LISC organization support fund management activities, the LFM team is ultimately responsible for ensuring a successful track record for LISC's off balance sheet fund investments. Visit us at www.liscstrategicinvestments.org

About This Role

As a Senior Director, Underwriting & Loan Administration with a passion for community development, you'll lead LISC Strategic Investments’ credit strategy, underwriting, and loan administration. This pivotal role combines your extensive experience in real estate and small business lending with your commitment to social impact finance to oversee a diverse portfolio of real estate and small business loans at around 840M AUM.

You'll leverage your 10+ years of non-consumer lending expertise, including significant experience with LIHTC deals and affordable housing, to manage a portfolio of loans ranging from $1-10M. Your focus will be on real estate investments and small business opportunities that drive community growth, while maintaining a keen eye for risk mitigation through rigorous processes.

As someone who values impact but understands the importance of risk management, you'll bring a balanced approach to our credit culture. You're not afraid to say "no" when necessary, but you excel at identifying ways to further mitigate risks to make deals work. Your deep understanding of credit risk assessment, portfolio management, and community development finance will be crucial in shaping our organization's lending policies and ensuring the sustainability of our mission-driven investments.

Leading a team of skilled professionals, you'll foster a culture of analytical rigor, ethical decision-making, and process adherence. You'll enforce a structured approach to risk mitigation, ensuring all team members follow established processes meticulously. Your experience with underwriting, loan

administration, and tax credit incentive programs will be invaluable as we navigate complex financial landscapes to maximize our social impact.

This role offers you the opportunity to apply your advanced financial analysis skills and strategic thinking to real-world challenges in community development. Unlike an originator, you're not deal-crazy, but rather focused on maintaining a balanced portfolio through careful risk assessment. Your ability to communicate complex credit issues to diverse stakeholders – from borrowers and investors to community partners – will be key to our success.

Please apply If you're ready to leverage your extensive credit and underwriting leadership experience to make a meaningful difference in communities, while managing a sophisticated loan portfolio and mentoring the next generation of community development finance professionals. Join us in our mission to create lasting positive change through innovative, responsible, and process-driven lending practices.

Responsibilities

Credit Strategy and Risk Management (45%)

• Manage the credit approval process
• Develop and implement credit policies and procedures
• Oversee risk assessment for the loan portfolio
• Establish credit risk appetite and tolerance levels
• Monitor market trends and adjust credit strategy accordingly
• Provide strategic input on new Fund development and lending initiatives
• Collaborate with originations team to structure complex deals

Portfolio Management and Underwriting (35%)

• Run credit committee meetings
• Review and initially approve complex loan applications before credit committee
• Oversee underwriting and closing process for real estate and small business loans
• Lead credit analysis and underwriting activities for complex transactions
• Review loan portfolio performance and quality with Asset Management team
• Develop and implement loan structure strategies
• Conduct periodic portfolio reviews and stress tests

Process Optimization (10%)

• Oversee loan closing processes and procedures
• Implement systems to improve efficiency and reduce closing times
• Standardize documentation and reporting requirements
• Maintain quality control standards for loan documentation
• Drive continuous improvement in underwriting and closing processes

Team Leadership and Development (10%)

• Manage and mentor team members
• Oversee training and professional development programs
• Conduct performance evaluations and set team goals
• Collaborate with other departments to ensure smooth operations
• Represent the credit department in executive meetings

QUALIFICATIONS

• Bachelor's degree in Finance, Economics, Business, or related field from an accredited college or university; MBA or similar advanced degree preferred or requisite relevant work experience
• Minimum ten (10) years of non-consumer lending experience, with at least eight (8) years in a leadership role, preferable in banking/finance or community development
• Extensive knowledge of real estate investment and small business lending, including familiarity with loans in the $1-10M range, and preferably in affordable housing
• Demonstrated commitment to and passion for community development and social impact finance
• Expert in credit risk assessment and mitigation strategies
• Strong leadership skills with experience managing and mentoring teams of 6 professionals
• Advanced underwriting and financial analysis skills, including proficiency in evaluating income statements, balance sheets, and impact metrics
• Excellent communication and relationship-building skills, particularly in working with diverse stakeholders including borrowers, investors, and community partners
• Substantial experience in managing loan defaults, restructurings, and work-outs in community development contexts
• Familiarity with tax credit incentive programs such as Historic Tax Credits (HTC), Low-Income Housing Tax Credits (LIHTC), or New Markets Tax Credits (NMTC)
• Proficiency in portfolio management software and data analytics tools

SALARY

LISC offers a competitive salary (Tier 1-$159,400-$199,300) (Tier 2-$143,500-$179,400) (Tier 3-$127,600- $159,400)and excellent fringe benefits. This position is expected to travel less than once per month, up to 15% annually.

*Actual salaries may be based on several factors including, but not limited to, a candidate's skill set, experience, education, work location and other qualifications.

Our benefits include:

Medical, Dental, Vision Coverage : Comprehensive health plans for you and your family's well-being; Disability Insurance: Long-term and short-term coverage for peace of mind; Retirement Savings: Secure your future with our 401(k) and 403(b) plans; Generous Holidays: Enjoy ample time off to recharge and celebrate; Vacation, PTO, and Sick Days: Take advantage of flexible time-off policies to maintain work-life balance; Tuition Assistance: Pursue your educational goals with support from our tuition assistance program; Referral Program: Earn rewards for referring qualified candidates to join our team; Professional Development Opportunities: Grow and advance in your career with access to ongoing training and development programs tailored to your goals.

LISC is an equal opportunity employer. LISC does not discriminate in employment on account of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, lactation and related medical conditions), gender identity or expression (including transgender status), sexual orientation, marital status, military status or veteran status, unfavorable discharge from military service, physical or mental disability, protected medical condition as defined by applicable state or local law, genetic information or any other characteristic protected by applicable federal, state or local laws and ordinances.

We will endeavor to make a reasonable accommodation to the known physical or mental limitations of a qualified applicant with a disability unless the accommodation would impose an undue hardship on the operation of our business.

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Michigan Applicants: Persons with disabilities needing accommodations for employment must notify the Company in writing of the need for an accommodation within 182 days after the date the person with a disability knew or reasonably should have known that an accommodation was needed.

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