Commercial Credit Analyst III – Clean Energy/Affordable Housing

Company: Locus

Locations: Washington, DC; Richmond, VA; , All

Job Function: Credit


Background

About Locus:

Locus (formerly VCC Social Enterprises) partners with communities where the capital system is not working to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving communities. A capital system that centers community input and impact is essential to making this a reality.

Locus is a nonprofit holding company regulated by the Federal Reserve. Locus is the parent organization for a family of social enterprises, which includes Locus Bank, Locus Impact Fund, Locus Capital and the Community Investment Guarantee Pool, or CIGP. Locus has generated over $2 billion dollars in total impact in local communities to create jobs, energize places, and promote an enhanced quality of life. With offices in Christiansburg and Richmond, Locus offers innovative and flexible financing tools and professional advisory services to individuals and organizations in low-to-moderate income and underserved communities. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors, along with personal and business checking, savings, and certificate of deposit accounts. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org.

Summary

The Commercial Credit Analyst III will assist the Department of Impact Banking in analyzing, structuring, and underwriting small business clean energy loans and affordable housing loans. This position requires client engagement and the willingness to maintain and grow customer relationships and underwrite loan renewals. Locus’ clean energy lending program focuses on commercial projects ranging from $100,000 to $13 million. Affordable housing focuses on projects ranging from $500,000 to $13 million.

Responsibilities

Conduct preliminary due diligence and underwriting to screen new loan opportunities. Duties include:

  • Review and draw relevant conclusions from financial statements, budgets, project pro formas, and sources and uses statements to vet new loan opportunities.
  • Use Excel to stress test project cash flows and ultimately size new loan opportunities.
  • Work with the lender to assess the ultimate viability of the loan opportunity based on their knowledge of internal credit policy, providing input on loan structure.
  • Assist loan officers with portfolio loan renewals. Duties include:
  • Requesting relevant financial documents to process renewals.
  • Conduct loan sizing based on current financial information and relevant loan terms.
  • Ordering appraisal and other relevant due diligence items for loan renewals.
  • For new loans and portfolio loans, the Commercial Credit Analyst III will:
  • Assist in preparing credit memos including both analytical and descriptive writing; assess risks of transactions’ strengths and weaknesses, make recommendations and present to loan committee for approval.
  • Attendance and participation at loan committee required.
  • Maintain and grow borrower relationships to source new loan opportunities.
  • Correspond with customers on a regular basis.
  • Attend and participate in meetings between lenders and customers, whether virtual or in-person.
  • Represent Locus in various public setting e.g., conferences and site visits.

Requirements

Experience, Education, Certifications:

  • Minimum 3 years in commercial credit analysis, underwriting of commercial real estate loans, and strong foundational knowledge of commercial lending. No prior experience in clean energy lending is required.
  • Prior customer relationship experience required as client engagement is a key element in this role.
  • Ability to review and assess state clean energy policy and regulations and its impact on the risk of loan repayment.
  • Ability to review and analyze pro-formas, operating projections, and financial statements.
  • Ability to both prepare pro-formas and projections and analyze/manipulate those prepared by borrowers to conform to internal underwriting criteria.
  • Ability to draw conclusions from financial and market data to make sound recommendations regarding loan conditions and requirements.
  • Willingness to learn about the low-income housing tax credit program and various clean energy loan types such as community solar, commercial PACE, solar energy generating systems, power purchase agreements and SRECs.
  • Bachelor’s degree preferred from 4-year college or university.

 

Computer/Technology:

  • Excellent Word, Excel, and Windows file management skills mandatory
  • Strong technical experience with Salesforce or other CRM tools
  • Demonstrated web research skills
  • Familiarity with Outlook or similar network-based email and calendar software
  • Extensive computer usage and Microsoft Teams communication
  • Must be able to work independently in a stable remote environment

 

Communication:

  • Ability to communicate verbally across all levels of the organization in a clear, concise and confident manner.
  • Ability to write accurate, clear and organized communications, incorporating a range of information and analysis. Ability to document workflow and procedures.

 

Mission/Vision/Organizational Values:

  • Live and represent the values and mission of the organization – keeping diverse, equitable, and inclusive impact at the center of all efforts and execution
  • Strong analytical and interpersonal skills with a demonstrated ability to establish and maintain effective working relationship with others and successfully interact with people at all management and support levels, as well as people of diverse socio-economic backgrounds
  • Ability to organize and prioritize work activities to meet deadlines and ensure high quality work products
  • High level of adaptability and flexibility required
  • Ability to travel as required
  • Alignment with the organizational goals:
  • Sensitivity to racial, gender, sexual orientation and cultural differences and treat everyone with dignity and respect
  • Effective, respectful, and timely communications with internal and external stakeholders
  • Analytic, thoughtful and strategic thinking and thoroughly aware of organizational goals and strategic direction. Must have the ability to switch roles and procedures easily to facilitate change in line with organizational priorities.
  • Consider the mission, objectives, and goals of Locus and demonstrate an understanding of the impact of their decisions and behavior on the organization
  • Access to high-speed internet bandwidth and reasonable proximity to a Locus office or a major metropolitan airport.

Compensation and Benefits

  • $80,000 – $95,000 annual salary, depending on skills and experience
  • Bonus opportunity if bonuses are paid in any given calendar year
  • 17 days of PTO per year
  • 11 Paid holidays per year
  • Medical, dental, vision, short- and long-term disability insurance
  • 401k savings plan with employer match
  • Life Insurance
  • Hybrid or Remote work for candidates in the Central Virginia/DC Metro Area

 

EEO Statement

Locus is an Equal Opportunity Employer. Locus does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or family status, national origin, non-job-related disability, or status as a veteran.

How to Apply

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