Job Description

LOCATION: San Francisco, CA; Los Angeles, CA; New York, NY; Washington D.C.; or Atlanta, GA

POSITION SUMMARY:

The National Lending Initiatives Officer (the “Initiatives Officer”) is responsible for the creation, management and deployment of a portfolio of Funds and other Structured Products which use LIIF’s capital in combination with other financing sources – including conventional bank debt, CDFI or other mission-aligned financing, philanthropic funds, and state/federal subsidies - to support the development of affordable housing and/or or mixed-use facilities. In this role, the Initiatives Officer will support the management and expansion of LIIF’s national fund business.

REPORTING RELATIONSHIPS:

The Initiatives Officer reports to the Director, National Lending Initiatives (the “Director”), and is part of the Structured Products team. This position will also work closely with the Vice President Structured Products & Capital Markets, Chief Credit Officer as well as regional lending, asset management, legal and finance teams.

As part of the broader Community Initiatives & Programs team, the Initiatives Officer ultimately works to support the achievement of regional and overall Lending work plan goals.

MAJOR DUTIES AND RESPONSIBILITIES:

FUND DEVELOPMENT & STRUCTURING: LIIF currently leads ten regional and national funds, each of which leverage a combination of LIIF capital and bank debt, CDFI financing, philanthropic dollars, or state/federal subsidies. The Initiatives Officer will work closely

with the Director to assess the viability of new opportunities, structure new Funds, or revamp existing Funds. Activities include:

• working with external Lending partners to develop Fund priorities and structure;
• coordinating with internal Lending staff and legal counsel to negotiate Fund development process with external parties;
• creating financial models to determine the Fund’s economics;
• preparing proposals and/or presentations to pitch LIIF as a Fund Manager and/or raise public or private capital;
• seeking internal approval for Fund creation and/or amendment; and
• maintaining standards and processes for Fund operations and deployment.

 NATIONAL FUND ORIGINATIONS ACTIVITIES:

The Initiatives Officer will serve as the subject matter expert for a portfolio of Funds that utilize LIIF’s capital to leverage bank debt, CDFI or other mission-aligned financing, philanthropic funds, and/or state/federal subsidies. As a result, activities may involve transactions in which LIIF or an external party is the originating lender.

Key Fund originations activities include:

• PIPELINE: Work with LIIF Loan Officers and, as appropriate, other originating lenders to maintain an ongoing pipeline of potential transactions for LIIF’s national funds, and manage each Fund’s selection process for prioritizing transactions. The Initiatives Officer should also ensure all pipeline projects meet all eligibility requirements of each Fund.
• UNDERWRITING TRANSACTIONS: Collaborate with Regional Market Directors and Loan Officers to source, underwrite and close loans that utilize LIIF’s national Funds. Responsibilities include: confirming project eligibility; ensuring loan terms and transaction structure are compliant with the relevant funding source; and guiding regional lending teams on specific underwriting requirements / closing processes.

ONGOING FUND MANAGEMENT:

The Initiatives Officer will play a critical role as LIIF’s internal subject matter expert and external relationship manager for a portfolio of funds and other structure products that involve Investors, credit enhancement providers and/or partnering Lenders.

ONGOING FUND MANAGEMENT RESPONSIBILITIES INCLUDE:

• Review and closing of program loans that are originated by partner CDFIs. Process and confirm program compliance for reservation of funding requests; manage closing of the Fund portion of the loan. 
• Create and maintain internal resources to guide Loan Officers, Asset Managers and Credit Associates on the use of each fund, including marketing materials to be used for external audiences.
• Develop relationships with all Fund participants and disseminate periodic reporting internally and externally.
• Work closely with the Director to ensure LIIF is compliant with the Standards & Processes developed for each Fund.
• Seek internal and external approval for and process any Fund modification or extension of origination periods or Fund maturity dates as necessary.

CUSTOMER SERVICE: The Initiatives Officer will maintain a positive and professional relationship with LIIF’s internal associates as well as external customers and business partners by initiating and responding promptly to any and all requests in a responsive, consistent, and accurate manner.

OTHER DUTIES AS ASSIGNED.

SKILLS REQUIRED:

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

• Five plus years of experience in real estate-based lending, including credit analysis, deal structuring, due diligence, and loan closings (familiarity with loan documents is assumed).
• Proficiency in analyzing financials of nonprofit organizations, for profit developers and real estate operations (in particular, rental housing and community facilities)
• Familiarity with federal, state, and local government funding sources for multi-family housing, special needs housing, and community facilities (e.g. child care centers, health and educational programs, etc.)
• Working experience with both private sector financial institutions and public agencies
• Computer aptitude, including knowledge of Microsoft Office Suite Programs, and other database software
• Excellent skills in managing multiple tasks requiring strong attention to detail
• Strong communication skills
• Self-motivation, dedication, and flexibility
• Specific experience in affordable housing finance a plus.

 EDUCATIONAL AND OTHER REQUIREMENTS:

Educational background should include degree work in a relevant area of study such as real estate, urban planning, business administration or finance. A bachelor's degree is required although an advanced degree is preferred. In addition, the position requires a high degree of self-motivation, dedication, creativity, and perseverance; flexibility with time and travel; and willingness to accept a demanding (and personally satisfying) position. Excellent teamwork and strong time management skills are essential.

 HOW TO APPLY:

If you are interested in applying to the Low Income Investment Fund,

PLEASE E-MAIL COVER LETTER AND RESUME TO:

Low Income Investment Fund Attn. Human Resources 49 Stevenson Street, Suite 300

San Francisco, CA 94105

                                                         E: CAREERS@LIIFUND.ORG

No phone calls or other LIIF email addresses please. Only candidates being considered for a position will be contacted.

LIIF, an EOE (Equal Opportunity Employer), believes that diversity ensures excellence. All qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender, or national origin.

Company Description

The Low Income Investment Fund is a non-profit community development financial institution, that mobilizes capital and partners to achieve opportunity, equity and well-being for people and communities. LIIF innovates financial solutions that center racial equity to create more equitable outcomes for all by building and preserving affordable homes, quality educational opportunities from early childhood through higher education, health clinics, healthy food retail and community facilities. In this way, LIIF provides a bridge between private capital markets and communities. LIIF’s headquarters is in San Francisco and has offices in Los Angeles, New York, Atlanta, and Washington D.C.