Company: Reinvestment Fund
Location: Baltimore, MD
Job Function: Lending/Loan Operations
About Reinvestment Fund
At Reinvestment Fund, we are dedicated to making a tangible difference in the lives of underserved individuals and communities. Our mission is to foster economic empowerment and wealth-building in historically marginalized areas, ensuring a brighter future for all.
As a federally certified community development financial institution (CDFI), our job is to make finance an agent of positive change and equitable growth. We provide loans, grants and technical assistance to businesses and nonprofits. Our borrowers and grantees educate students, support local economies, and create jobs. They build affordable housing and provide community goods and services that include access to nutritious food, hunger relief, physical and mental health care, and other social services.
Reinvestment Fund provides a flexible work arrangement that is a hybrid home/office work arrangement. It is anticipated that a combination of working remote and 2-3 days per month in a Reinvestment Fund office location will allow for face-to-face interactions. Candidate must be within reasonable commuting distance to City of Baltimore, Maryland.
About the Position
Reinvestment Fund is currently hiring a Senior Director and Baltimore Market Leader within the Lending and Investment department, who will be an integral member of the Community Lending originations team. Reinvestment Fund has been a member of the Baltimore community for over a decade and, in alignment with our current 2023-2028 Strategic Plan, have re-committed to ensuring access to capital to the Baltimore community.
The Senior Loan Officer and Baltimore Market Leader will be the leader of Reinvestment Fund in the Baltimore community. With a focus on projects in Baltimore, the Senior Loan Officer and Baltimore Market Leader will be responsible for cultivating client relationships for projects aligned with Reinvestment Fund’s mission, climate resilience and racial equity goals, from client acquisition, underwriting, and closing and disbursements, across various asset and loan types primarily for community facility and bridge loans including but not limited to arts and culture facilities, charter schools, youth development facilities, and affordable for-sale and rental housing. This individual will be responsible for a volume of annual originations, but more importantly for ensuring that Reinvestment Fund is accountable to our stakeholders in the Baltimore community.
Baltimore Market Leader Responsibilities
- Develop and maintain relationships with Baltimore institutional, philanthropic, community organization, CDFI and other community lending partners, and public leaders and stakeholders, ensuring value alignment.
- Identify and support new capital development opportunities and maintain and grow existing investor relationships in the region.
- Raise Reinvestment Fund brand awareness and visibility through in-market media and community development field building opportunities and ongoing engagement with borrowers, potential borrowers, and community stakeholders where Reinvestment Fund investments are located.
- Serve as an internal advocate/context provider of Baltimore community and coordinator of communications about cross-departmental activities in the market.
- Understand local market trends, opportunities and challenges and communicate that analysis to internal and external stakeholders.
Senior Loan Officer Responsibilities
- Develop pipeline of projects to meet annual and multi-year origination and organization goals.
- Structure loans, negotiate loan terms with potential borrowers, underwrite and close potential loans as assigned.
- Review and interpret third party due diligence reports, including appraisals, market assessments, plan and cost reviews, and environmental reports to determine transaction viability, and appropriate loan structure.
- Work with current and potential customers to develop pipeline of projects and loans for
- Prepare credit approval memos and present to approval authorities, including Senior Management as required under Loan Policy.
- Manages the closing process, including working with Loan Closer and external counsel, and the collection, review, approval and execution of all closing items, often within short timelines.
Who We Are Looking For
Originations requires a high level of independent, analytical work, strong interpersonal skills and good judgment. Market Leaders must be able to balance shorter term underwriting projects with relationship building, stakeholder and community engagement, and other longer-term initiatives. Staff are expected to be flexible and accountable to the team. They are supported by a collaborative, collegial environment and responsive management.
Qualified candidates should have either financial industry background, experience in commercial lending, or experience in community and economic development as well as outstanding organizational skills. Strong analytical skills in mission areas such as housing policy outcomes, commercial real estate management or the arts can supplement less financial background. The successful candidate will have a track record of working collaboratively on projects and will have a demonstrated affinity for working in a team setting. He or she will be passionate about using finance as a tool to change people’s lives for the better.
The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations will be made to enable individuals with different abilities to perform the essential functions.
Education and Experience
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
- Undergraduate degree in finance, economics, city planning or other related fields preferred but not required. Equivalent non-academic experience may also be considered if that experience is in the industries to which we lend.
- 7+ years of lending experience, with at least two years of community development, multi- family, real estate underwriting responsibilities required.
- Experience creating and communicating complex business and financial analysis including formal writing and oral presentation to decision-makers.
- Experience reviewing construction budgets, project plans, appraisals, inspection reports and other real estate documents.
- Ability to effectively synthesize information, organize logical arguments and summarize key
- Experience performing analysis and modeling in
- Ability to draw conclusions from financial and market data to make sound recommendations regarding credit risks.
- Must share a commitment to advancing racial equity and anti-racism and willingness to engage in that work to advance Reinvestment Fund’s mission.
- Experience working with borrowers to problem solve and structure loans that meet potential borrower and project needs as well as mitigate our risk and maximize capital sources
- Experience with clean energy and climate resilience lending a plus.
- Experience reviewing legal documents such as leases, mortgage notes, contracts,
- Experience with affordable housing subsidy programs and other economic development tools.
Compensation and Benefits
Reinvestment Fund offers a competitive salary based on experience and skills, as well as an excellent benefits package including employer-paid health, disability and life insurance, 401(k) retirement savings plan with employer match, flexible spending accounts (medical, dependent care), commuter benefits, tuition reimbursement, paid time off, and EAP program.
How to Apply
Please complete the online application at www.reinvestment.com and attach your resume and a cover letter.
Reinvestment Fund uses E-Verify to validate all new hires’ ability to legally work in the United States. Reinvestment Fund is an Equal Opportunity Employer. Reinvestment Fund does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job related disabilities, or status as a veteran.
Reinvestment Fund, Inc. has an affiliate, RF Impact Advisers, Inc. (“RFIA”) that is a state-registered investment adviser. In order to advance compliance with and prevent violations of federal and state securities laws and to avoid even the appearance of a conflict of interest, RFIA has adopted a Code of Ethics to govern certain conduct of its staff, including certain staff of Reinvestment Fund because Reinvestment Fund is an advisory affiliate of RFIA. As part of this Code of Ethics, there are specific personal reporting and other requirements and disclosures of personal financial and/or securities transactions information. For certain individuals this reporting will extend to your household members. You may be subject to a background check.