Director of Credit Risk Management

Department: Portfolio Management and Compliance/Risk

Reports to: Senior Director of Portfolio Management and Compliance/Risk

Location: Chicago, IL (Hybrid)

About the Role

NCIF is seeking an experienced and proactive Director of Credit Risk Management to identify, assess and manage credit risk across our commercial lending and New Markets Tax Credit (NMTC) and investment portfolios. Reporting to the Senior Director of Portfolio Management and Compliance/Risk, this role is responsible for executing and enhancing the credit risk framework, policies, and controls that safeguard the health of the portfolio while supporting NCIF's mission-driven growth. The ideal candidate combines deep credit risk expertise with strong collaboration skills, a passion for community development finance, and the strategic vision and entrepreneurial drive to strengthen and scale NCIF's credit risk management function as the organization continues to grow.

What You Will Do

Portfolio & Credit Risk Management

• Conduct ongoing credit risk assessment of the loan, investment and NMTC portfolios, including annual loan reviews, risk ratings, and watch-list management.
• Conduct and support stress testing, scenario analysis, and concentration risk reviews to evaluate portfolio resilience under adverse conditions.
• Review credit risk ratings and reserve/allowance recommendations in collaboration with Finance and accounting team.
• Identify, elevate, and drive resolution of emerging credit risks, delinquencies, and potential problem loans across the portfolio.
• Ensure timely and accurate reporting on credit risk trends, portfolio performance, and emerging risks to senior leadership, the Board, investors, and rating agencies as applicable.
• Ensure covenant and reporting compliance of all loans, investments and NMTC transactions.
• Create reports around risk concentrations and macro analysis

Credit Policy and Procedures

• Collaborate with the lending, investing and NMTC and Credit Analyst teams to strengthen underwriting standards and credit decisioning processes.
• Support the design and calibration of credit risk models, scorecards, and rating methodologies used across the organization.
• Support the Senior Director of Portfolio Management and Compliance/Risk to shape the enterprise-wide risk management framework, including credit risk appetite, limits, and early-warning indicators, and all other policies and procedures across the lending and NMTC portfolios.

Compliance, Controls & Regulatory Alignment

• Ensure credit risk practices comply with applicable CDFI Fund guidelines, and investor/lender covenants.
• Assist finance and accounting department in providing credit-related material for the yearly internal audit. Maintain and enhance internal controls, ticklers, and documentation standards supporting credit risk monitoring and reporting.
• Provide guidance and technical direction to Credit Analysts and Portfolio Management Analysts on credit risk matters.

Who You Are

• A person with strong sense of credit and enterprise risk and an ability to evaluate the impact of macro and micro factors in the transactions and then the impact on NCIF.
• A strong communicator who can present complex ideas in a simple manner to senior leadership and the Board as needed.
• Highly organized and detail-oriented, with the ability to manage multiple priorities in a growing, entrepreneurial organization.
• A collaborative person who can influence and guide teams without direct authority.
• Passionate about community development and expanding access to capital in underserved communities.

What You Bring

Qualifications

• 5-10 years of experience in credit risk and portfolio risk management in commercial real estate, commercial lending, construction lending and structured finance.
• Strong knowledge of credit analysis, risk rating methodologies, loan structuring, and portfolio risk indicators.
• Experience in construction lending, NMTC and LIHTC underwriting will be a strong plus.
• Demonstrated experience administering and refining credit risk frameworks, policies, and reporting for a lending institution.
• Experience presenting to senior leadership, Risk Committees, and/or Boards of Directors.
• Bachelor's degree in finance, accounting, economics, or a related field. MBA/Master’s Degree in Finance, Real Estate, or a related field.
• Strong analytical and quantitative skills, with proficiency in MS Excel and financial/credit risk modeling.
• Passion for community development and improving the lives of individuals in underserved communities.

Strong Plus

• Experience in community development finance, CDFI, NMTC, USDA, or mission-driven lending.
• Prior experience working with or reporting to a CDFI on credit risk, portfolio management, or compliance matters.
• Familiarity with regulatory and reporting frameworks such as AMIS, CDFI Fund reporting, or similar.
• Knowledge of Python, data visualization, and/or AI tools for credit risk analytics.

Location: Candidate must be based in Chicago or willing to relocate. Hybrid work schedule with 3 days in office. Must have permanent legal right to work in the US.

More About NCIF

National Community Investment Fund (NCIF) is a national Community Development Financial Institution (CDFI) whose mission is to invest in social impact and economic opportunity in rural, small-town, and urban America.

Since its inception in 1996, NCIF has deployed over $560 million of impact capital, creating over 17,000 jobs in 34 states and territories. Total assets under management at NCIF are around $262 million, including a balance sheet of $77 million and a serviced loan and NMTC portfolio of $185 million.

NCIF has partnered, lent and invested with a network of over 50 mission-oriented financial institutions, banks, and non-bank organizations to expand the flow of capital into communities with limited access to financing. Through this network, NCIF helps catalyze investment, strengthen local institutions, and scale impact beyond its direct balance sheet.

NCIF is an entrepreneurial organization with a strategic plan that seeks to deploy over $1 billion in impact assets over the next 10 years, and to evolve using artificial intelligence and other advanced technologies.

NCIF delivers its mission through four complementary business lines:

1. Equity Investing – Providing equity, debt, and deposit investments to mission-oriented financial institutions, including CDFI banks, minority depository institutions, and other aligned platforms.

2. Lending – Originating and syndicating loans that support small businesses, affordable housing, healthcare, education, and other community-focused sectors.

3. New Markets Tax Credits (NMTC) – Deploying NMTC allocations into high-impact operating businesses and real estate projects that drive economic opportunity.

4. Impact Measurement and Data – Publishing Bank Impact and developing advanced data analytics tools, including AI-driven platforms, to measure performance and attract capital to the sector. NCIF pioneered the use of social performance metrics in community development, and impact measurement remains foundation to our mission.

Equal Opportunity Statement

NCIF is an equal opportunity employer and provides equal treatment and opportunity to all persons without regard to race, color, religion, national origin, sex, age, disability, veteran status or sexual orientation except where such distinction is required by law. NCIF has a hybrid schedule with part remote/in-office work schedules.