Vice President, Credit & Asset Management

Position Description

LISC is seeking a qualified candidate to fill the position of Vice President, Credit & Asset Management.  The Vice President, Credit & Asset Management will be a member of LISC’s Lending Department and will report to LISC’s Senior Vice President, Chief Credit Officer.  The Vice President, Credit & Asset Management is responsible for developing and overseeing loan portfolio and risk management policies and procedures, leading a workout group charged with implementing restructuring and collection efforts on non-performing loans, and serving as a credit approver on new loans and amendments and restructurings.

Responsibilities

Team Management

• Manage an Asset Management team of two Directors and seven Asset Managers; provide mentoring and feedback in support of professional development.
• Lead culture-building efforts with direct reports and across the Lending department.

Credit Review and Approval

• Serve as a member of LISC’s Credit Committee which is responsible for reviewing and approving new loans and amendments that exceed the Chief Credit Officer’s approval authority.
• Serve as the back-up reviewer and approver on new loans that do not require Credit Committee approval.
• Act as the primary reviewer and approver of loan amendments that do not require Credit Committee approval.
• Review and sign off on the Credit Committee approval notes on an as-needed basis.

Loan Portfolio Management

• Oversee the tracking of all late, delinquent, and maturing loans to ensure that credit issues and loan maturities are addressed in a timely manner.
• Review and provide feedback on loan portfolio reports.
• Chair loan portfolio review meetings.

Loan Workouts, Restructurings and Real Estate Owned

• Establish and lead a workout team responsible for managing nonperforming loans and real estate owned.
• Coordinate with the Senior Vice President, Lending, Directors of Asset Management, and legal personnel to strategize and make decisions on loan workouts, restructures, write-offs, and property foreclosure and sale decisions.
• Lead negotiations on key loan workouts and management and sale of real estate owned.

Risk Management

• Oversee and refine loan portfolio policies and procedures and assist with updates to underwriting and credit policies and procedures.
• Update and improve the loan risk-rating guidelines and matrix.
• Establish loan portfolio quality metrics and track performance.
• Work with colleagues in the Lending and IT departments to ensure that appropriate processes and systems are in place to manage risk and data.
• Ensure the collection of all loan portfolio data needed for risk management and reporting and disseminate key insights.

Lending Department

• Support capitalization efforts on an as needed basis.
• Assist with Lending Department initiatives and projects.

Communications & Training

• Maintain a culture of quality customer service at all points of contact with stakeholders internal and external and represent LISC in public forums.
• Prepare reports and presentations on financing activity and portfolio performance to the LISC board of directors, senior management, Lending staff, LISC investors, and ratings agencies.
• Provide feedback to LISC staff on risk assessment and credit analysis.
• Present on process updates and conduct trainings at Lending Learning Group meetings and other forums.
• Perform other related duties as needed.

Qualifications

• Bachelor’s degree from an accredited college or university requisite relevant work experience. 
• Minimum 10 years of real estate lending, credit review and approval, and workout experience at a bank or community development financial institution, including impact investing.
• Well-honed ability to analyze sponsor and project financial statements, cash flow projections, development budgets, financial models, and operating pro formas; strong capacity to analyze the credit strengths and weaknesses of a loan.
• Lending experience at least one of the following market sectors: Affordable rental and for-sale housing, charter schools, community health centers, small businesses, and commercial economic development, preferably combined with knowledge of Historic Tax Credit, Low Income Housing Tax Credit and/or New Markets Tax Credit programs.
• Substantial experience managing and negotiating loan workouts, restructurings, and real estate owned.
• Proven track record of leading and developing a high-performing team, including the ability to mentor staff.
• Excellent written and oral communication and interpersonal and ability to work effectively with multiple stakeholders.
• Strong Excel skills and familiarity with loan management systems.
• Good organizational abilities and attention to detail, including ability to work independently and to manage multiple assignments simultaneously.
• Commitment to impact investing and LISC’s mission and values.

SALARY

LISC provides a competitive salary ($191,400-$215,200) and excellent fringe benefits. The position is available immediately.