Philadelphia Local Initiatives Support Corporation (LISC) is the local office of LISC, a national nonprofit community development organization that has invested $16.2 billion in 31 cities across the United States. LISC is a catalyst for community change, working with partners to strengthen neighborhoods and improve the lives of residents. LISC assists its local partners with the development of affordable multifamily and senior and other supportive rental housing, for-sale housing and homeownership initiatives, commercial, retail and economic infrastructure developments, community facilities and various community-building programs such as employment, child care, health care and open space.
A core function of LISC is its operation as a loan fund. LISC provides various loan products to a wide array of project types. All loans are subject to oversight by LISC’s Lending Department. In 2016, LISC approved $248 million of new loan commitments, and the outstanding loan portfolio at year-end was $280 million. LISC is looking to grow its lending volume in the years ahead. Since 1980, the Philadelphia office has invested $390 million to build or preserve 8,075 affordable homes and apartments and develop 1.8 million square feet of retail, community, and educational space.
For more information about LISC, visit www.lisc.org and the
Philadelphia office at http://programs.lisc.org/philly/.
Philadelphia LISC seeks a Lending Program Officer to advance its community development lending program. This person will be responsible for lending business development and loan originations that support LISC’s strategic priorities and a comprehensive approach to neighborhood revitalization. Primary responsibilities will
include identifying project opportunities; providing technical assistance to local borrowers; initial vetting of projects and structuring financing needs; and developing key relationships and partnerships with public and private leaders in local markets.
The Lending Program Officer will be expected to work closely with other LISC team members, including consultants. This person should be action-oriented, results-driven and enjoy working in a fast-paced, collaborative environment. The position reports to the Deputy Director and may require travel for meetings, trainings and conferences.
- Build a pipeline of projects for Philadelphia to invest in such asset classes as affordable housing, community facilities, educational facilities, commercial developments and economic infrastructure with the primary goal of generating loan activity for the LISC loan fund and other LISC-managed loan pools to meet agreed upon lending goals.
- Work with LISC partners on the full-cycle of activities related to business and real estate based lending and development, providing technical assistance and identifying appropriate LISC resources as needed. This includes assessing project feasibility and the financing request, developing financing strategies and helping partners access other forms of capital including philanthropic contributions and/or public subsidies. LISC IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY AND INCLUSION
- Develop and manage relationships with other strategic partners, including for-profit and nonprofit financial institutions and local, state, and national governmental subsidy programs, that could support potential permanent financing structures for LISC borrowers.
- Work with the Deputy Director and other partners to develop a strategic approach to support the growth of lending and real estate based transactions, design new lending programs and create related marketing, informational and application materials.
- Ensure integration and alignment of Philadelphia’s real estate development activities and financing pipeline with the strategic direction and goals of LISC National and Philadelphia by collaborating with LISC team members and strategic neighborhood partners.
- Provide capacity building support to partners to position their organization to successfully implement more complex real estate developments. Identify LISC resources that could be used to strengthen the
- Serve as primary underwriter, including working with borrowers to structure the transaction, conducting due diligence and financial analyses, drafting credit memoranda, and presenting loan recommendations to LISC’s national Credit Committee and the LISC Board of Directors, as applicable.
- Coordinate between National Lending and local program staff through regular pipeline meetings and other
- Compile and share best practices in business development and sourcing from within the LISC community and from sources outside of LISC. Represent LISC as an expert on community development lending and share best practices at conferences, trainings, and events.
- Prepare reports and findings for investors, funders and other stakeholders as needed.
- Lead new initiatives as called upon to do so.
- Minimum of at least five (5) years of relevant experience in lending, finance, community development or related field. Proven track record of delivering results. Bachelor’s degree required.
- Familiarity with the real estate markets in the Philadelphia together with familiarity with city, state and federal housing, commercial and mixed use financing programs available to support projects.
- Knowledge of financing products such as pre development, acquisition, construction, bridge and permanent loans; lines of credit; and tax credit equity.
- Experience with working with lower-income communities and with a community-based, resident-driven model of neighborhood revitalization preferred.
- Ability to evaluate financial statements.
- Ability to identify financing opportunities and to creatively solve problems.
- Capacity to work on multiple tasks and projects, prioritize a challenging workload, be positive and solution oriented.
- Ability to work collaboratively with others and demonstrate flexibility and poise in dealing with a diverse range of individuals and organizations.
- Commitment to working in a small team with a desire to learn from colleagues, supporting and encouraging each other in the pursuit of excellence.
- Excellent judgment, maturity, integrity, professionalism, interpersonal and managerial skills.
- Excellent writing and verbal communication skills are essential. Proficiency in Microsoft Office suite, particularly Microsoft Excel.
The position will be based in Philadelphia with some travel to potential or current borrowers. LISC offers a competitive salary and an excellent benefits package. To see the full job description please click here.
Please submit detailed cover letter with salary expectation, resume, and writing sample by April 21, 2017 to Dana Hanchin, Deputy Director at email@example.com.