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Associate, Underwriting & Portfolio Management, Strategic Investments

Hybrid · Washington, District of Columbia, United States

LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. LISC works with residents and partners to close gaps in health, wealth, and opportunity so that people and places can thrive. We do this by acting as a conduit for grants, loans and equity--and by providing technical assistance and capacity building--to locally rooted organizations that carry out the work in communities.

 

About Strategic Investments

The LISC Strategic Investments team leads the design, development, and deployment of impact investment funds in LISC’s local markets nationwide. Strategic Investments employs an “impact first” investment methodology that optimizes the impact on the communities we care about while achieving sustainable risk-adjusted returns for investors.

 

The unique power of LISCs local office presence combined with the strength of our national investment expertise is a powerful combination for creating real impact in the communities we serve. This network requires careful coordination between Strategic Investments, the LISC Local Offices, and other stakeholders within LISC. While many groups within the LISC organization support fund management activities, the Strategic Investments team is ultimately responsible for ensuring a successful track record for LISC’s off balance sheet fund investments.  Visit us at www.liscstrategicinvestments.org                  

 

About This Role

As an Associate in Underwriting at LISC Fund Management, you'll play a crucial role in driving impactful investments in communities across the nation.

With 3-5 years of experience in real estate lending or community development finance, you'll dive deep into analyzing and structuring loans ranging from $1-10M. Your keen financial acumen and experience with various financing products will be put to the test as you underwrite a diverse portfolio of projects, from affordable housing to mixed-use developments.

You thrive on the complexities of deal structuring and have a talent for spotting both risks and opportunities. Your ability to craft compelling credit memos and financial models will be key as you present investment recommendations to our committee. You're not just comfortable with numbers – you excel at communicating your insights clearly to both internal teams and external partners.

As someone who's highly detail-oriented and capable of juggling multiple transactions, you'll fit right into our fast-paced environment. Your organizational skills and deadline-driven approach ensure that deals move smoothly from analysis to closing.

Most importantly, you're excited about applying your financial expertise to make a real difference in communities. You understand that every deal you work on has the potential to transform neighborhoods and improve lives.

 

Responsibilities

Underwriting and Financial Analysis (65%)

  • Screen, structure, and underwrite financing requests for real estate loans ($1-10M)
  • Analyze project/borrower operating performance, historical and projected financial statements
  • Assess management capacity, organizational structure, and project feasibility
  • Focus on various commercial real estate projects, including affordable housing, market-rate housing, commercial projects, and mixed-use developments
  • Create and interpret financial models and projections
  • Identify credit risks and propose appropriate mitigants (e.g., reserves, guarantees, credit enhancements)
  • Stay informed about local real estate markets and community development trends

 

Credit Presentation and Documentation (30%)

  • Prepare comprehensive credit memos detailing analysis findings and recommendations
  • Present investment recommendations to LISC Fund Management's investment committee
  • Review real estate contracts, loan documentation, leases, and other due diligence materials
  • Support the Fund Management team in the closing process and handoffs to Asset Management

 

Collaboration and Communication (5%)

  • Collaborate with internal teams (LISC Fund Management, LISC counsel) and external parties (borrowers, banks, co-lenders, attorneys)
  • Participate in structuring discussions for complex financings
  • Communicate effectively with various stakeholders throughout the underwriting process
  • Contribute to team meetings and strategy discussions

 

QUALIFICATIONS

  • Bachelor’s degree in Finance, Real Estate, Economics, or relevant work experience
  • 3-5 years of experience in real estate finance, commercial banking, or community development lending, with specific experience underwriting real estate loans in the $1-10M range
  • Strong understanding of and experience with financial models for community development and/or commercial real estate deals
  • Proficiency in creating and interpreting financial projections, with advanced Excel skills
  • Experience with various financing products including predevelopment, acquisition, construction, bridge and permanent loans; lines of credit; and tax credit equity
  • Solid understanding of real estate fundamentals, including property types, market dynamics, and valuation methods
  • Demonstrated ability to manage multiple, complex transactions and coordinate with various parties to meet deadlines
  • Strong verbal and written communication skills, with the ability to present findings clearly
  • Highly detail-oriented with excellent organizational and analytical skills
  • Demonstrated interest in LISC's community development mission and ability to balance financial rigor with mission-driven approach

 

SALARY

LISC offers a competitive salary ($ 91,800-$114,800) and excellent fringe benefits. This position is expected to travel less than once per month, up to 15% annually.

*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.

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