Credit Officer

Credit Officer

Working under the direction of the Chief Credit Officer, the Credit Officer will manage and support the growing credit needs of the Low Income Investment Fund. This position will initially function as an individual contributor while playing a key role in designing the structure, workflows and processes for the Credit and Asset Management team. Within approximately six months, this position will assume direct supervisor responsibilities for assigned team members.

The Credit Officer will help manage the flow of credit within the organization, including new loan approvals as well as approvals of modifications and extensions to the existing loan portfolio. The Credit Officer will also support all functions related to the execution of Credit responsibilities within the organization, including supervision of the Special Attention Loan portfolio, the annual update to the loan loss reserve qualitative analysis, and management of the Risk Rating Model and the Lending Manual. The Credit Officer will also manage and/or support ongoing and ad hoc Credit and cross-departmental projects supporting the Strategic Plan and the growth of the organization. The Credit Officer will, alongside the Chief Credit Officer, support the Internal Loan Committee and the Lending Risk Committee, work with the Finance team, the Legal team, including Compliance, and Program and National Lending Initiatives Teams as needed.

The Credit Officer is responsible for working with the Chief Credit Officer to support the approval of credit functions as outlined in the Loan and Asset Concentration Policy and delegations; all functions supporting the execution of credit including oversight of the Special Attention Loan portfolio, annual updates to the loan loss reserve qualitative analysis, the risk rating model, and the Lending Manual; developing the framework, processes, and performance expectations of the Asset Management team; overseeing and managing the Deputy Director of Asset Management; and working with internal stakeholders on initiatives involving the Credit team.

The Credit Officer will:

• Work with Originations and Asset Management staff to provide guidance in support of structuring and underwriting transactions to successfully achieve the stated goal/impact within acceptable risk parameters;
• Work with the Chief Credit Officer, Chief Lending Officer, and other relevant stakeholders to assess and update guidelines and procedures that Originations staff will follow in order to present previews and loan approval requests to Credit, and secure initial and final credit approval for the transactions from the Chief Credit Officer and/or Internal Loan Committee and Lending Risk Committee;
• As needed, work with the nCino Team to update guidelines for Originations and Asset Management staff to adhere to when submitting new loan and modification approval requests through nCino;
• Ensure that all requests submitted for approval are managed pursuant to LIIF's Loan and Asset Concentration Policy and delegations.

It is anticipated that over time the growth in the Credit Officer responsibilities will include delegated approval authority for new and existing transactions.

The Credit Officer will be the Credit lead for overall management of the Special Attention Loan (SAL) portfolio. Under guidance from the Chief Credit Officer, the Credit Officer will provide leadership to the Asset Management Team members on ongoing responsibilities related to the SAL portfolio, including but not limited to monthly SAL/challenged loan meetings with senior management, the quarterly SAL credit committee reviews, updates to the SAL loss reserve projections, updates on SALs to the Internal Loan Committee and Lending Risk Committee, and corresponding with external lending/investor partners and Borrowers on specific SAL transactions.

The Credit Officer will be the Credit lead for LIIF's annual qualitative analysis update to the CECL loan loss reserve calculation. Under guidance from the Chief Credit Officer, the Credit Officer will lead the assessment of qualitative risk factors and the assignment of risk status and weight; the collection and analysis of LIIF portfolio trends and macroeconomic data; and presentation of findings and recommendations for approval by the executive team, the Internal Loan Committee and the Lending Risk Committee. The Credit Officer will closely coordinate with the Finance Department on other aspects of the annual update to the CECL reserve factors, including internal decision making on loan pool segmentation and the variables used in the quantitative model, and coordination with advisory consultants on the CECL framework.

The Credit Officer will be responsible for ongoing management of LIIF's Risk Rating Model, which is a component of the Impact, Risk and Profitability (IRP) Framework guided by LIIF's Strategic Plan. The Risk Rating Model has been built out in Salesforce, and the Credit Officer will be the Credit lead on providing support to Originations and Asset Management staff on understanding the risk rating methodology and utilizing the Salesforce model version; ensuring that risk ratings are assessed on loans on a timely basis; managing updates to the methodology and model as needed and coordinating with the LIIF nCino and IT teams on the implementation of the changes; and coordinating with other departments within the organization as LIIF seeks to advance the IRP Framework.

The Credit Officer is responsible for:

• Guiding Originations and Underwriting staff on LIIF lending policies, financial products, and procedures, as outlined in the LIIF Lending Manual, that are required to be followed in order to ensure credit risk is appropriately managed for the various financial products that are available;
• Updating the Lending Manual at least quarterly, and more often as needed and for ensuring updates are reported to Compliance and Finance as needed to meet stakeholder requirements.

Working with LIIF's Chief Credit Officer, the members of the Internal Loan Committee, Lending Staff, and the Lending Risk Committee the Credit Officer will support updating the Loan and Asset Concentration Policy and Loan Products to appropriately govern credit risk and to update based on business needs and Strategic Plan intentions.

As needed, the Credit Officer will be the Credit lead on cross-departmental initiatives that emerge as projects of strategic importance for the organization and require coordination and cooperation between various LIIF departments.

The ideal candidate for this position will have these key qualifications:

• Strong lending/credit skills
• Experience in real estate-based lending, including deal structuring, and risk mitigation. Experience as a strategic thinker with strong relationship skills
• Strong organizing and time-management skills
• Experience in underwriting complex affordable housing and/or charter school transactions is preferred
• Experience problem solving and supporting transaction structuring in multiple markets.
• Proficiency in analyzing financials of nonprofit organizations and real estate operations (in particular, rental housing and community facilities) preferred
• Working experience with both private sector financial institutions and public agencies.
• Ability to work with multiple stakeholders including Finance Department, Loan Officers, Executive Team and Board Committees and others on complex modeling and analyses.
• Computer aptitude, including knowledge of Microsoft Office Suite Programs, nCino and Salesforce, and ability to work within and support modifications of the systems.
• Excellent skills in managing multiple tasks requiring strong attention to detail
• Self-motivation, dedication, and flexibility

Education & Requirements

• Bachelor's degree required in a relevant field such as Real Estate, Urban Planning, Business Administration, Finance, or related discipline; advanced degree preferred.
• Demonstrated self-motivation, creativity, perseverance, and dedication in a fast-paced, mission-driven environment.
• Strong organizational, teamwork, and time management skills with the ability to manage multiple priorities effectively.
• Flexibility with scheduling and willingness to take on a demanding yet rewarding role.
• Ability and willingness to travel as required.

Preferred Qualifications & Experience

• Minimum of 10 years of experience in credit, lending, and/or community development finance.
• Proven track record in community development real estate credit and relationship management with both internal and external stakeholders.
• Experience working within low-income communities and a demonstrated passion for community impact and economic development.
• Background in one or more of the following areas preferred:
• Affordable housing
• Charter schools
• Health facilities
• Community facilities serving low-income populations
• Businesses improving access to healthy foods
• Knowledge of Community Development Financial Institution (CDFI) Fund programs and New Markets Tax Credits (NMTC) preferred.
• Familiarity with industry best practices across CDFIs and Community Development Banks is highly desirable.