Vice President and Team Leader of Real Estate Finance

Company: Philadelphia Industrial Development Corporation

Location: Philadelphia, PA

Job Function: Financial Services


Philadelphia Industrial Development Corporation (PIDC) is Philadelphia’s public-private economic development corporation. Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. You can learn more about PIDC at
PIDC is committed to driving transformative growth for Philadelphians with a human-centered approach by directing our financial and real estate services, knowledge, and networks toward creating a vibrant and sustainable Philadelphia. To achieve this mission, PIDC focuses on five areas:
  • CAPACITY: Create and sustain internal capacity and external partnerships to scale the availability and breadth of economic development resources and solutions.
  • CAPITAL ACCESS AND SERVICES: Expand financing and business support services to benefit under-resourced communities and marginalized populations.
  • LAND USE: Catalyze development of projects that create quality jobs, advance equity, and promote sustainability.
  • KNOWLEDGE AND NETWORKS: Share knowledge and networks to respond to clients, partners, and market needs.
  • EMPLOYEE WELL-BEING: Elevate the physical, mental, and financial well-being of PIDC employees and provide opportunity for each to thrive and grow professionally.
PIDC is governed by a thirty-member Board of Directors, appointed by the Mayor of Philadelphia and the President of the Greater Philadelphia Chamber of Commerce.  The staff includes approximately 60 full-time employees, and PIDC’s current Senior Leadership Team has a combined 140+ years of experience at PIDC. The organization’s annual budget of approximately $12M is funded by a combination of fees generated by PIDC’s transaction activities, service and management contracts, and contributed revenue.
Over the past 65 years, PIDC has settled over 13,000 transactions with a diverse range of clients – including more than $19 billion of financing and 3,350 acres of land sales – which have leveraged tens of billions of dollars in total investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia. For more information, please visit:


The Vice President and Team Leader of Real Estate Finance is responsible for the management of the Real Estate Finance Team. This includes all aspects of the real estate loan life cycle from business development/loan origination, pipeline management, deal/loan structuring, underwriting, approval, closing, and successful transition to the Portfolio Management Team, all in compliance with the source of funds eligibility and specific approval requirements in accordance with PIDC’s Loan Policy and Procedures and Organizational Mission objectives.


Specific responsibilities as Real Estate Finance Team Leader include, but are not limited to:
  • Recruit, develop, and coordinate day-to-day job duties of all team members (in-office and remotely)
  • Define the roles and responsibilities of team members as outlined in the Policies and Procedure Manuals
  • Establish annual goals and objectives, including transaction volumes, in coordination with Senior Staff
  • Proactively support individual team members in achieving their annual goals and objectives according to Human Resource Policies
Business Development and Relationship Management:
  • Manage business development for all real estate products. Coordinate with internal and external groups to cultivate relationships with existing clients and prospects according to PIDC Strategic Plan and Values
  • Work to strategically improve and grow PIDC’s network of resources that include relationships with various government agencies, and third-party intermediaries (including bankers, consultants, and finance brokers) seeking to provide resources that can benefit the client and PIDC
  • Provide advice and guidance including indicative size and structure of financing
Processing Efficiency and Customer Satisfaction:
  • Oversee all aspects of the loan process life cycle:
    • Responding to inquiries in a timely manner
    • Reviewing and evaluating the efficiency of the virtual loan application system
    • Generation of term sheets with feedback from the Senior Vice President of Financial Services, Legal, and Accounting and Finance
    • Completion of underwriting, generation of credit memos in accordance with PIDC’s Loan Policies and Risk Rating System
    • Timely and effective completion of the loan transaction approval process
    • Effective management of the closing process in coordination with internal or external counsel, generating and maintaining a Required Document Checklist for each deal, reviewing loan documents, negotiating with the client, finalizing the budget, and reviewing any loan disbursement at closing
    • Document and deal handoff to Portfolio Management and the Operations Teams: ensure key Salesforce fields are completed, required documents are filed in accordance with PIDC standards, and introduce primary contacts
Resource Management:
  • Serve as subject matter expert on all loan products to provide strategy, data, and all necessary support for source loan application completions, when needed
  • Actively participate in the annual review of PIDC’s Loan Policy Manual and Procedures
  • Work with the Capitalization and Impact Reporting Team and Senior Management on new program development. As needed, work with 1) the Chief Financial Officer for periodic evaluation and adjustment of loan product interest rates based on feedback from the market, and 2) use periodic portfolio performance feedback from Portfolio Management to adjust loan terms that can help improve the overall quality of the Real Estate Finance portfolio
  • Proactively monitor the deployment of PIDC funding sources to meet the organization’s contractual disbursement obligations
  • Review relevant contracts, legislation, and guidance to stay up to date on compliance with funding sources
  • Obtain any necessary governmental approvals for financing as needed including negotiation and preparation of forms or contracts in coordination with City, State, and Federal officials
  • Ensure all financing is compliant with funding source obligations at closing and meets PIDC’s impact objectives


  • A Bachelor’s degree from an accredited college or university in Business or Finance with major coursework in economic or real estate development. (Master’s degree in Business, Finance, or related field preferred)
  • A minimum of ten years lending experience in community development and/or real estate financing, including underwriting, deal structuring, negotiation, and loan closing, preferably with a Community Development Financial Institution (CDFI) or other community development lender. Supervisory experience desirable
  • In-depth knowledge of credit and lending products and services, including term loans, construction loans, bridge loans, mezzanine loans, as well as related to credit structuring and management
  • Knowledge of New Markets Tax Credits (NMTC) and CDFIs. Hud 108 Loan Program, PA Department of Community & Economic Development Loan Programs, and EB-5 financing are desirable
  • Strong financial analysis skills, particularly in real estate financial proformas and both in for-profit and nonprofit GAAP accounting
  • Proficiency in MS Office Suite and Salesforce, or Portfol
  • Strong oral and written communication skills
  • Knowledge of, and commitment to, servicing and supporting minority-owned businesses of all revenue sizes
  • Demonstrated leadership skills and the ability to take ownership and lead assignments
  • Some travel may be required
  • Must be a resident of the City of Philadelphia or willing to relocate within six (6) months of employment

Compensation and Benefits

PIDC offers a competitive salary and benefits package with generous leave time.

How to Apply

Applicants can submit a resume and cover letter to: