Program Officer – Lending

Company: Local Initiatives Support Corporation (LISC)

Location: Washington, DC, DC

Job Function: Lending/Loan Operations


Background

THE ORGANIZATION

What We Do

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 COMMITTED TO DIVERSITY, EQUITY, INCLUSION & JUSTICE

Summary

Established in 1982, LISC DC is one of LISC’s foundational offices. LISC DC has invested almost $500 million to support the creation and preservation of over 14,000 affordable homes, as well as over 3.7 million square feet of commercial, retail, and community space. From the community planning process to the investment stage, LISC DC has been instrumental in driving more equitable development outcomes for DC residents. LISC DC provides loans, equity, grants, and acts as a broker, facilitator, and provider of technical assistance to nonprofit housing developers, providers of community services, community development corporations, and joint ventures between for profits and nonprofits. Visit us at http://www.lisc.org/dc/ to learn more.

 

JOB DESCRIPTION

LISC DC is seeking a Program Officer to join its community development lending program in the DC Region.  We invite people to apply who are passionate about providing capital to lower income and diverse populations, and who possess expertise in community development, finance, real estate development, and/or lending.  The Program Officer will help to grow LISC DC’s lending pipeline, from loan origination, to underwriting, closing, and asset management to support LISC’s strategic priorities and comprehensive approach to equitable development.  Primary responsibilities include identifying opportunities; providing technical assistance to nonprofit and local borrowers; initial vetting of projects and borrowers; structuring financing that meet those needs; and developing key partnerships with public and private leaders.  The Program Officer reports directly to the Executive Director and collaborates with LISC staff to structure and deploy mission-based capital to create equitable outcomes for lower-income residents in the DC Region.

 

Responsibilities

KEY RESPONSIBILITIES

  • Serve as one of two primary underwriters who originates, structures, and underwrites financing requests for real estate projects that create more equitable outcomes in the DC Region.
  • Evaluate mission alignment of proposals, management capacity of sponsors, organizational structure, and financial feasibility.
  • Conduct due diligence and financial analyses, draft credit memoranda, and present loan recommendations to LISC’s national Credit Committee and the LISC Board of Directors, as applicable.
  • Work with community development partners to help them craft financing strategies, access public subsidies, and secure private financing to assure successful project execution.
  • Develop and implement a local lending strategy which responds to unmet needs in the housing and commercial market.
  • Coordinate internal and external relationships that are critical to growth of LISC DC’s lending portfolio including relationships with LISC Housing and LISC Policy staff and other national and local staff, originators of LIHTC and NMTC transactions via LISC affiliates NEF and NMSC, financial institutions and other program partners.
  • Develop strategic collaborations with public sector agencies at the local level.
  • Represent LISC as an expert on community development lending and share best practices to community partners and stakeholders, as well as at regional and national conferences, trainings, and events.
  • Perform additional duties, as required.

Requirements

  • Bachelor’s degree from an accredited college or university in business, finance, real estate, urban studies, planning, community economic development, or related fields. Master’s preferred.
  • Minimum 5 years of demonstrated experience with affordable housing, nonprofit management, and community development finance, and/or multifamily real estate development is preferred, including project financing, market analysis, deal structuring, and financial analysis.
  • Highly motivated, solution-oriented individual who is self-directed, and able to successfully work simultaneously on multiple tasks and projects, set priorities for a challenging workload, and be a positive, solution-oriented professional.
  • Commitment to racial and economic equity, with a track record of work that has contributed to more racially and economically equitable outcomes in the DC Region and nationally.
  • Ability to manage multiple, complex projects and transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines. Must work well under pressure, seek and synthesize information.
  • Knowledge of financing tools, processes, and products such as predevelopment, acquisition, construction, bridge and permanent loans; lines of credit; and tax credit equity.
  • Understanding of, and experience with community development financial tools, including but not limited to LIHTC, NMTC, tax-exempt bonds, and federal, state, and city subsidy programs, including HUD programs.
  • Strong verbal and written communication skills. Highly detail-oriented.
  • Must be able to embrace and promote a culture of individual and shared trust and accountability – internally and externally.
  • Ability to work collaboratively with co-workers and representatives from the nonprofit, philanthropic, public, and corporate sectors and operate in a team setting.
  • Working knowledge of the economic, political, and social environments of the DC Region, especially lower-income neighborhoods, organizations, and community development efforts is a plus.
  • Ability to structure and manage multiple projects within limited time frames and deadlines.

Compensation and Benefits

COMPENSATION

LISC offers a competitive salary and excellent fringe benefits.

How to Apply

TO APPLY
Please send Cover Letter and Resume via email with “LISC DC Program Officer – Lending” in the subject line to: rjacobson@lisc.org