Senior Community Development Underwriter

What We Do

With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families.

Strategies We Pursue

• Equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities.
• Invest in businesses, housing and other community infrastructure to catalyze economic, health, safety and educational mobility for individuals and communities.
• Strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places.
• Develop leadership and the capacity of partners to advance our work together.
• Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.

Since 1979, LISC and its affiliates have invested approximately $29.7 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment, and other projects that help to revitalize and stabilize underinvested communities. Headquartered in New York City, LISC’s reach spans the country from East coast to West coast in 38 markets with offices extending from Buffalo to San Francisco and in 2,400 rural counties across 49 states and Puerto Rico. Visit us at www.lisc.org

Bay Area LISC

Bay Area LISC convenes partners, builds coalitions, invests public and private funds, and supports community revitalization to help the Bay Area thrive with healthy places to live, work and play. Since 1981, Bay Area LISC and its affiliates have invested $882 million towards the construction of over 14,380 affordable housing units and nearly 1.5 million square feet of commercial, retail and community space throughout the Bay Area. Bay Area LISC’s work has leveraged an additional $3.7 billion. More information can be found at www.bayarealisc.org.

JOB OVERVIEW:

The LISC Bay Area team is looking for a collaborative and passionate individual to join our team as Senior Community Development Underwriter (SCDU). The LISC Bay Area team takes a bold and joyful approach to our work to support local communities in creating prosperity and well-being – defined in their terms. We bring the tools of community development – mobilizing funds, cultivating partnerships, and deepening capacity – in the areas of economic development and housing to support the self-determination of communities that have been historically prevented from accessing investment and opportunity.

The SCDU will be responsible for underwriting on behalf of Bay Area LISC across an array of community development product types and asset classes, with a particular focus on affordable housing. The SCDU contributes to the implementation of LISC Bay Area’s new 3-year strategic plan, especially related to our work on increasing access to capital and ecosystem building, across both our affordable housing and economic development portfolios. The SCDU will work closely with a variety of community-based and internal stakeholders, providing technical assistance to Bay Area LISC staff as well as community development organizations we support. The position requires a strong commitment to the role of community-based non-profit organizations as drivers of development as well as an understanding of the development financing ecosystem in the Bay Area. The Senior Community Development Underwriter will handle the full range of lending activities, including business development, structuring, underwriting, and closing of Bay Area loans, in concert with LISC National Lending and Legal department staff. This position will report to Bay Area LISC’s Senior Director of Investments. The ideal candidate shares our values of equity and community self-determination.

Primary responsibilities will include the following:

• Serve as underwriter for Bay Area LISC Loans, including working with borrowers to structure transactions, conducting due diligence and financial analyses, and drafting credit memoranda.
• Present loan recommendations to LISC’s credit committee and Board of Directors, as applicable.
• Facilitate loan closings by working with counsel and borrowers on loan documentation and ensuring that all closing conditions have been satisfied.
• Support the Senior Director of Investments with investor relations and coordination with LISC Fund Management (LFM), including preparation of investor materials and presentations.

In close collaboration with the Bay Area LISC team, primary responsibilities will include:

• Conduct business development by identifying potential loan clients and providing technical assistance and partnership to colleagues as needed.
• Develop, launch, and manage new loan products and initiatives, and provide support to team members as necessary during development and fundraising process.
• Strengthen and expand the Bay Area community-based organization ecosystem. This will involve building relationships and providing support to community development partner organizations to position their organizations to successfully implement more complex real estate developments. It will also involve working with organizations to identify their needs and deploy existing LISC resources where available, to co-creating pilot programs and capital funds.
• Develop programs with non-profit, private and public sector agencies at the local, state, and federal levels that leverage LISC’s capabilities and national platform, utilizing National LISC as needed.

Additional responsibilities will include:

• Represent LISC Bay Area at conferences, in collaborative spaces with other CDFIs and local Bay Area partners, at Local Advisory Committee meetings, etc.
• Periodic evening and weekend work to accommodate our local stakeholders. Interested candidates must be comfortable traveling and working within a wide range of neighborhood and professional settings.
• Potential supervision of junior staff.
• Other related duties as needed.

QUALIFICATIONS: 

• Minimum seven (7) years real estate lending or credit review experience at a nonprofit financial intermediary, bank or similar institution. Previous experience with affordable housing, green financing, nonprofit commercial real estate, community facilities (early childhood education, health centers) a plus.
• Bachelor’s degree from an accredited college or university or relevant related work experience. 
• Strong capacity in transaction structuring and underwriting, including ability to analyze financial statements, project development budgets, and project operating pro forms.
• Deep knowledge of financing products such as predevelopment, acquisition, construction, bridge and permanent loans; lines of credit; and tax credit equity.
• Demonstrated ability to manage multiple complex transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines.
• Strong familiarity with government subsidies and tax credit programs for community facilities and housing.
• Demonstrated commitment to racial and economic equity. 
• Excellent interpersonal skills and ability to work effectively across the LISC network of local and national programs and affiliates, including Strategic Investments (SI) and Broadstreet.
• Good organizational abilities, including ability to work independently and to manage multiple assignments simultaneously.
• Strong written and oral communication skills and excellent attention to detail.

COMPENSATIONS & BENEFITS:

LISC offers a competitive salary of $107,100 - $133,900 commensurate with experience and location and excellent fringe benefits. The position is based in Oakland, CA and is a hybrid position, with an expectation of two (2) days in office or in the field. Candidate must reside in the Bay Area.

*Actual salaries may be based on several factors including, but not limited to, a candidate's skill set, experience, education, work location and other qualifications.

Our benefits include: 

Medical, Dental, Vision Coverage: Comprehensive health plans for you and your family's well-being; Disability Insurance: Long-term and short-term coverage for peace of mind; Retirement Savings: Secure your future with our 401(k) and 403(b) plans; Generous Holidays: Enjoy ample time off to recharge and celebrate; Vacation, PTO, and Sick Days: Take advantage of flexible time-off policies to maintain work-life balance; Tuition Assistance: Pursue your educational goals with support from our tuition assistance program; Referral Program: Earn rewards for referring qualified candidates to join our team; Professional Development Opportunities: Grow and advance in your career with access to ongoing training and development programs tailored to your goals.

LISC is an equal opportunity employer. LISC does not discriminate in employment on account of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, lactation and related medical conditions), gender identity or expression (including transgender status), sexual orientation, marital status, military status or veteran status, unfavorable discharge from military service, physical or mental disability, protected medical condition as defined by applicable state or local law, genetic information or any other characteristic protected by applicable federal, state or local laws and ordinances.

We will endeavor to make a reasonable accommodation to the known physical or mental limitations of a qualified applicant with a disability unless the accommodation would impose an undue hardship on the operation of our business.

LISC IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE