Job Bank

Mission Investors Exchange shares career opportunities at member foundations, affiliate member organizations, and other partners. Find your next job and build a career in impact investing.

Position: 
Underwriting and Credit Manager
Location: 
Remote
Organization Name: 
LOCUS Impact Investing
Application Deadline: 
Sunday, December 15, 2019

About the Organization

LOCUS is a nonprofit consulting firm and mission-driven registered investment advisor serving foundations looking to use more of their assets to promote prosperous, vibrant communities. At LOCUS, our mission is to guide and support foundations as they move from exploring the tool of local impact investing to unlocking meaningful, mission-driven assets to deploying those assets for catalytic community impact. Our team of economic development, former philanthropic staff and finance professionals work in partnership with our clients to deliver right-sized, resonant onramps to accelerate the deployment of place-based impact investments.
 

Position Description

LOCUS seeks a seasoned community development credit professional to manage and lead underwriting for the Community Investment Guarantee Pool (CIGP) and other LOCUS credit responsibilities. CIGP is a new impact investing infrastructure designed to provide unfunded loan guarantees to financial intermediaries in the sectors of affordable housing, small business and climate solutions.
 
The ideal candidate will have a balanced perspective on managing credit risk in conjunction with creating positive social impact. The position will be responsible for underwriting and managing the portfolio of unfunded guarantees.
 
Candidates should have experience underwriting financial intermediaries (lenders) and individual loan transactions, specifically in the areas of affordable housing, small business and climate solutions. The candidate will need the ability to model and estimate portfolio losses. Experience with credit guarantees is a plus, but not required. The position will report to the Chief Risk Officer.  Work location is flexible.
 
Job Responsibilities
  • Review guarantee applications for alignment with Program and Underwriting Guidelines
  • Manage pipeline of guarantee applications by narrowing and selecting guarantees for full underwriting
  • Underwrite guarantee applications for credit risk and social impact
  • Prepare and present credit approval presentations to Program Parameter and Credit Committee
  • Work with attorneys to document and close approved guarantees
  • Serve as liaison with financial intermediaries on proposed and deployed guarantees
  • Perform annual credit and impact review of deployed guarantees
  • Risk rate deployed guarantees on at least an annual basis
  • Prepare and maintain guarantee exposure report for Program Parameter and Credit Committee
  • Estimate quarterly and annual guarantee claims
  • In conjunction with Chief Risk Officer, maintain and manage Program and Underwriting Guidelines on at least an annual basis
  • In conjunction with CIGP Program Manager and LOCUS leadership, prepare an annual report on the CIGP program development
  • As necessary, conduct third-party LOCUS underwriting and analysis; and other LOCUS credit related duties

Candidate Requirements

  • Bachelor’s degree and 7+ years of relevant work experience in credit underwriting and administration
  • Knowledge and experience in community development lending is required
  • Social impact investing a plus
  • Social impact data tracking and management a plus
  • Demonstrated ability to manage and support time-sensitive and complex projects
  • Excellent writing, verbal, and presentation skills are required, including a demonstrated knowledge of Microsoft Office
  • Strong interpersonal skills with demonstrated ability to manage and work in teams
  • Salesforce experience is a plus; and limited to occasional travel including overnight travel required (10-25% of time).

Compensation

$90,000 - $125,000
 

Application Instructions

Apply for this job here.

Have a question, website feedback, or idea to make our services better?

X

Welcome!

Please contact [email protected] if you have trouble logging in.