Asset Manager, Strategic Investments
Company: Local Initiatives Support Corporation (LISC)
Location: Washington, DC
Job Function: Financial Services
Background
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.
Since 1979, LISC and its affiliates have invested approximately $29.7 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 38 markets with offices extending from Buffalo to San Francisco and in 2,400 rural counties across 49 states and Puerto Rico. Visit us at www.lisc.org
Summary
About Strategic Investments
The LISC Strategic Investments team leads the design, development, and deployment of impact investment funds in LISC’s local markets nationwide. Strategic Investments 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 LISCs 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 Strategic Investments, the LISC Local Offices, and other stakeholders within LISC. While many groups within the LISC organization support fund management activities, the Strategic Investments team is ultimately responsible for ensuring a successful track record for LISC’s off balance sheet fund investments.
ABOUT THIS ROLE
The Strategic Investments (SI) team has been organized into functional expertise groups that lead and support the activities necessary to design, raise, deploy, and manage Impact Funds. Those functional groups are listed below:
- Fund Design & Modeling – initial fund concept design and modeling, market testing
- Fund Development – raising money from investors for the fund
- Fund Deployment – creating the investment origination strategy and managing the underwriting and investment process
- Fund Performance & Measurement – managing the performance of existing investments and conduit funds, oversight of financial statements & impact reporting
This role will support the Fund Performance function. More specifically, the Asset Manager position will focus on managing the performance of fund investments (projects & borrowers) through the timely collection of financial and impact data and proactive engagement of potential issues preferably well before those issues effect the performance of the fund. The funds invest in business and real estate assets.
Responsibilities
ESSENTIAL DUTIES AND RESPONSIBILITIES
The following are an indication of the position’s core responsibilities; these are intended to illustrate the scope of responsibilities and are not exclusive of other duties that may be required.
- Collect monthly, quarterly, and annual reports from borrower and projects.
- Analyze financial statements and overall loan performance against underwriting projects, and identify potential project performance and payment issues
- Write annual performance reports, including risk analysis, and present to committee
- Identify, prioritize and engage in problem solving with borrowers, internal teams, and offer recommendations when issues arise
- Prepare amendments and waivers as necessary
- Create and update presentations using PowerPoint and then deliver performance information during internal meetings and externally with borrowers, partners, and stakeholders
- Create and/or update policies & procedures related to asset management
- Collect and analyze impact data to determine the positive impact of projects
- Perform all other duties as assigned
Requirements
- Bachelor’s degree from an accredited college or university or relevant commensurate experience can be used as proxy
- Minimum three (3) years of non-consumer lending experience, preferably in banking/finance or community development
- Working knowledge of real estate and/or business lending preferred
- Extremely detailed oriented and able to self-manage daily activities and deadlines
- Financial analysis skills for income statements and balance sheets
- Ability to interpret loan documentation related to reporting requirements and default process
- Strong relationship skills
- Experience with defaults and work-outs a plus
- Construction lending or oversight a plus
- Experience with tax credit incentive programs such as HTC, LIHTC, or NMTC a plus
Compensation and Benefits
LOCATION & COMPENSATION & TRAVEL
LISC offers a competitive salary and excellent fringe benefits. This position is expected to travel less than once per month, up to 15% annually.
How to Apply
To apply, please visit our website at https://boards.greenhouse.io/lisc/jobs/4310090005
LISC IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE