Director, Small Business Loan Funds – Strategic Investments

Company: Local Initiatives Support Corporation (LISC)

Location: Washington, DC, Remote

Job Function: Lending/Loan Operations


Background

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

Over the last 40 years, LISC and its affiliates have invested approximately $24 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.

LISC IS AN EQUAL OPPORTUNITY EMPLOYER COMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE

 

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:

 

  1. Fund Design & Modeling – initial fund concept design and modeling, market testing
  2. Fund Development – raising money from investors for the fund
  3. Fund Deployment – creating the investment origination strategy and managing the underwriting and investment process
  4. Fund Performance & Measurement – managing the performance of existing investments and conduit funds, oversight of financial statements & impact reporting

 

SI runs several loan funds that function essentially as a secondary market for mission-based small business lenders (generally Community Development Financial Institutions or CDFIs). These funds provide liquidity by purchasing the majority of small business loans made by those organizations. Payments from the small business borrowers are then used to repay investors in the loan funds. This role (which sits within the Fund Performance & Measurement team) will liaise between the originators and the investors around loan purchases, payments, and performance reporting. This position may supervise a direct report.

 

 

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.

  •  Identify, prioritize and engage in problem solving with CDFI partners, internal teams (including IT), and offer recommendations when issues arise.
  • Manage financial and impact reporting (weekly, monthly, and quarterly) for small business loan funds.
  • Oversee the collection of weekly and monthly loan payment and purchase information from more than 15 partner intermediaries.
  • Manage regularly scheduled meetings with CDFI partners and investors.
  • On behalf of the Fund Performance team, in alignment with the Senior Director, Business Development, manage investor relations with loan fund investors.
  • Provide support to the servicing function of the team, to support creation of individual fund financial statements.
  • Create and update policies and procedures for small business loan funds.
  • Perform all other duties as assigned.

Requirements

  • Bachelor’s degree from an accredited college or university
  • Minimum three (3) years of non-consumer lending experience, preferably in banking/finance or community development
  • Experience working with or at a CDFI preferred
  • Experience in small-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
  • Strong Microsoft Excel skills (e.g. If/then statements, VLOOKUPS, HLOOKUPS)
  • Knowledge of servicing systems strongly preferred
  • Passion for impact investing and helping under-served communities

 

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 send a cover letter and resume via email to: strategicinvestments@lisc.org. Please be certain to include the title of the position for which you are applying and your name in both the subject of your email.