Company: Local Initiatives Support Corporation (LISC)
Location: Washington, DC, DC
Job Function: Lending/Loan Operations
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
This position is expected to travel less than once per month, up to 15% annually.
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. Visit us at www.liscstrategicinvestments.org.
ABOUT THIS ROLE
LISC Strategic Investments is organized into functional expertise groups that lead and support the activities necessary to design, raise, deploy, and manage impact investment funds:
- Fund Design & Modeling – initial fund concept design and modeling, market testing
- Fund Development – raising money from investors for funds
- Fund Deployment (Originations and Underwriting)– creating the investment origination strategy; managing the underwriting, investment, construction, and closing process
- Fund Management – asset management of commercial real estate and small business investments, managing the cash and servicing operations of the funds, and supporting financial and impact reporting
- Small Business Loan Funds – creating the investment strategy and managing the small business loan funds
The Originator will provide both the strategic direction and on the ground execution for LISC’s project and investor originations strategy. The successful candidate will have excellent leadership, communication, and entrepreneurial skills, and experience with crafting and executing a multi-faceted origination strategy that both leads and supports the field offices and national program efforts in assembling the necessary asset pipeline and investor partners ultimately for the purposes of transacting in an equity fund structure.
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 and manage pipeline opportunities for funds managed by LISC Fund Management.
- Assess transactional risk via evaluation of the sponsor, financial pro forma, market and other project related information provided by the borrower.
- Ensure that opportunities meet the requirements of each fund. Refer opportunities internally to other sources of capital (i.e. grants) as needed.
- Lead negotiations with borrowers and prospects on various opportunities; collect due diligence, and manage expectations of underwriting and closing process.
- Coordinate with underwriter to screen, structure and underwrite financing requests.
- Present investment recommendations to LISC Fund Management’s investment committee, as necessary, and manage the closing process with in-house and external counsel
- Proactively manage risk associated with the sponsor, project or market post-closing.
- Represent LISC at various internal and external events/conferences.
- Perform all other duties as assigned.
- Bachelor’s degree from an accredited college or university in business, finance, real estate or related fields. Master’s degree preferred
- Minimum 5 years of demonstrated experience with housing and community development and/or multifamily real estate development is preferred, including originating, deal structuring, underwriting, and closing deals.
- Demonstrated ability to manage multiple, complex transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines
- Deep knowledge of financing products such as predevelopment, acquisition, construction, bridge and permanent loans; lines of credit; and tax credit equity
- Some experience with business transaction financing preferred
- Strong understanding of and experience with community development financial models,
- Strong verbal and written communication skills
- Highly detail-oriented
- Self-starter, ability to work independently as well as collaboratively.
- Proficiency in Microsoft Office Suite, particularly Microsoft Excel (e.g. VLOOKUPS).
- Demonstrated interest in LISC’s community development mission
Compensation and Benefits
LISC offers a competitive salary and excellent fringe benefits.
How to Apply
LISC IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE