Managing Director, Lending

New Jersey Community Capital is a nonprofit community development financial institution that provides an innovative toolkit of financial products, programs, and services to advance equity and opportunity in the communities we serve.

Read about us: https://www.newjerseycommunitycapital.org/about-us/

Managing Director, Lending

New Brunswick, NJ Office – 5 days a week

Job Overview:

The Managing Director of Lending will set Lending strategic vision, priorities, and budget, including targets for new business generation, loan volume, interest, and Lending fee income - by both fund and by-product. NJCC currently manages a $150 million loan portfolio and are in nine-time new market tax credit (NMTC) allocatee having been awarded $340 million in NMTCs over the past decade. The MD, Lending will oversee NJCC's Lending activity, including the entire loan lifecycle - new business generation, underwriting, loan closings, loan disbursement process, and loan workouts. NJCC's lending products are 1.) real estate acquisition loans; 2.) construction loans; 3.) bridge loans; 4.) credit lines; 5.) small business loans; 6.) charter school loans; and 7) loans to credit-worthy nonprofits. The MD of Lending will create new loan products and programs, manage NJCC's Credit Committee, represent NJCC externally both to Borrowers and at conferences and on panels, and regularly meet with funders to discuss NJCC's capital requirements and loan portfolio performance.

Qualifications:

• Bachelor's degree required; Master's Degree in business, finance, community development, or policy preferred;
• Minimum of ten-plus years of credit underwriting and lending experience;
• Minimum of five-plus years in community development or community development finance;
• Ability to manage a team of lenders and underwriters;
• Commitment to teamwork and ability to work collaboratively;
• In-depth knowledge of commercial real estate lending, including unsecured small business lending;

• Strong communication skills (verbal, written, and presentation) and ability to deliver challenging (as well as positive) messages - internally and externally;
• Excel modeling skills;
• Ability to manage and prioritize many competing responsibilities;
• Strong knowledge of community development finance, as well as subsidy programs;
• Ability to manage and strengthen client, team, and cross-departmental relationships;
• Strong financial and analytical skills;
• Ability to see the "big picture," as well as an ability to move projects forward and remove barriers for team members to complete tasks;

Responsibilities

• Set an organizational annual Lending budget, including targets for business generation, loan volume, interest income, and fee income, by both product and fund. Responsible for ensuring team metrics are met and monitoring scorecard targets on a weekly basis;

• Oversee the entire loan lifecycle, including direct relationship and transaction management and overseeing the team, including the following: (1) new business generation, (2) loan underwriting, (3) approval process, (4) loan closings, (5) loan disbursements, and (6) loan workouts;

• Manage, supervise, and engage the Lending Team, including Program Directors, Community Development Lenders, and Underwriters. Responsible for hiring and Lending team structure. Direct the strategic vision of Lending and communicate the larger organizational vision to the Lending Team. Actively participate in weekly Leadership team meetings. Develop new loan products;

• Develop and execute NJCC's national expansion strategy (currently lend in NJ, Pennsylvania and New York).;

• Manage a group of 5 that is expected to grow as NJCC continues to expand throughout the country;

• Maintain quality of the Lending portfolio through both (a) actively working on and directing loan workouts and (b) ensuring loans are underwritten in compliance with NJCC Lending policies and procedures - both directly and overseeing the team. Closely collaborate with Portfolio Management and Loan Servicing on these objectives;

• Collaborate on CDFI and other funding opportunities and applications, including FA BGP, CMF, ERP, USED, and others. The collaboration includes direct work on funding applications;

• Market and deliver New Jersey Community Capital's (NJCC) financial products and services to organizations that are aligned with NJCC's mission and demonstrate impact, including (but not limited to) meeting with Borrowers regularly and attending relevant conferences. Represent NJCC externally and market products to Borrowers, including on panels, ribbon cuttings, groundbreakings, and other events. Interact and represent NJCC to funders as requested;

• Develop, maintain, and manage a pipeline of potential clients sufficient to deliver desired productions and impact results. Identify and quantify existing and potential high-impact customers and communities;

• Propose pricing structure for loan proposals consistent with NJCC's budget guidelines;

• Recommend appropriate changes to lending policies and procedures;

• Review and risk rate relationships to mitigate potential problems and risks. Address past due and workout situations, including developing and enacting a plan of action in relation to troubled assets;

• Performs other related duties assigned;

• Travel required from time to time (up to 30%).

Salary : $175,000 - $200,000