ABOUT THIS ROLE
The Fund Management team has been organized into functional expertise groups that lead and support the activities necessary to design, raise, deploy, and manage Impact Funds. Those functional groups are listed below:
- Fund Design & Modeling – initial fund concept design and modeling, market testing
- Fund Development – raising money from investors for the fund
- Fund Deployment – creating the investment origination strategy and managing the underwriting and investment process
- Fund Performance & Measurement – managing the performance of existing investments and conduit funds, oversight of financial statements & impact reporting
In LISC Fund Management (LFM), we are charged with coordinating the development, investment in, and deployment of impact investment funds in LISC’s local markets nationwide. While many groups within the LISC organization support fund management activities, LFM will be ultimately responsible for ensuring a successful track record for LISC’s off balance sheet lending, coordinating the efforts of relevant teams to ensure the overall organization understands who is playing what role and executes on the overall strategy. This role is focused on the execution of LISC’s investment opportunities. The Underwriter will provide direct underwriting support to local program offices in the field and serve as the primary underwriter for investment projects across LISC’s markets and nationally. The Underwriter will have deep knowledge of public and private resources available to leverage LISC’s investment and will provide support to strategically deploy LISC Fund Management’s full array of financing products through its portfolio of impact investment funds. Finally, this position requires a passion for doing hard but rewarding impactful work to improve under-invested communities across this country.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The following are an indication of the position’s core responsibilities; these are intended to illustrate the scope of responsibilities and are not exclusive of other duties that may be required.
UNDERWRITING AND PROJECT EVALUATION
- Screen, structure and underwrite financing requests, including analyzing operating performance, historical and projected financial performance, management capacity, organizational structure, and project feasibility for commercial real estate projects. This includes affordable housing, market rate housing, commercial projects, and mixed use projects.
- Provide support to local LISC program offices on project-specific analysis, deal structuring assistance and underwriting for affordable housing transactions.
- Collaborate with internal (within LISC Fund Management, LISC counsel) and external parties (banks, co-lenders, attorneys, etc.) to structure financings including managing intercreditor negotiations; reviewing real estate contracts, leases and due diligence.
- Identify and negotiate key risk mitigants, including reserves, guarantees and other forms of credit enhancement.
- Present investment recommendations to LISC Fund Management’s investment committee, as necessary, and manage the closing process with in-house and external counsel.
- Perform all other duties as assigned.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED
- Bachelor’s degree from an accredited college or university in business, finance, real estate or related fields. Master’s degree preferred
- Minimum 5 years of demonstrated experience with housing and community development and/or multifamily real estate development is preferred, including project financing, market analysis, deal structuring, and financial analysis
- Demonstrated ability to manage multiple, complex transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines
- Deep knowledge of financing products such as predevelopment, acquisition, construction, bridge and permanent loans; lines of credit; and tax credit equity
- Some experience with business transaction financing preferred
- Strong understanding of and experience with community development financial models
- Strong verbal and written communication skills
- Highly detail-oriented
- Demonstrated interest in LISC’s community development mission
LISC forges resilient and inclusive communities of opportunity across America creating great places to live, work, visit, do business and raise families. Over the last 40 years, LISC and its affiliates have invested approximately $20 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. LISC’s reach spans the country from East coast to West coast in 36 markets with offices extending from Buffalo to San Francisco.
Our 36 Local Offices provide us with a local context lens that is critical to ability to strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places. We also work to equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities, while driving local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.
Visit us at www.lisc.org.
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.
LOCATION & COMPENSATION & TRAVEL
This position will be located in Washington, DC, but may be open to a remote candidate. LISC offers a competitive salary and excellent fringe benefits. This position is expected to travel infrequently.
To apply, please send a cover letter and resume via email to: [email protected] Please be certain to include the title of the position for which you are applying and your name in both the subject of your email and the file name of any files you send.
LISC IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY AND INCLUSION