Investment Officer

Job Description

The New York office of the Local Initiatives Support Corporation (LISC NY) seeks a professional to fill the position of Investment Officer to conduct lending in New York State. This position reports to the LISC NY Senior Director of Community Development Investments & Housing. The local New York program, LISC NY, works with nonprofit, community-based organizations to develop affordable housing, commercial enterprises and community facilities. Since its founding in 1980, LISC NY has invested over $4.0 billion, leveraging an additional $9.2 billion in low-income communities. This has resulted in nearly 48,447 affordable homes built and preserved as well as 2.9 million square feet of retail and community space created. We also invest in health, economic development, financial well-being and environmental sustainability so that the communities our partners serve are good places to live, work, do business and raise children. For more information visit https://www.lisc.org/ny/.

Responsibilities

The Investment Officer will be responsible for managing a program of strategic housing and economic development investments. A primary focus of the role is managing transactions and relationships with developer partners who are working in coordination with city and state housing agencies such as the New York City Department of Housing Preservation and Development, New York State Homes and Community Renewal, and New York City Housing Authority. The successful candidate will have knowledge of the public and private resources available to leverage LISC's investments in affordable housing and will have the skills to strategically deploy LISC's full array of financing products such as predevelopment, acquisition, construction, bridge loans, lines of credit, and tax credit equity, working alongside LISC's affiliate National Equity Fund. The Investment Officer will also provide technical assistance and financing to LISC NY's partners to develop projects that will ensure their neighborhoods have critical jobs, services and community assets to complement housing.

Specifically, the Investment Officer will be responsible for the following:

Structure, negotiate, and originate a robust pipeline of affordable housing and economic development transactions that facilitate the deployment of LISC capital and technical assistance resources.

• Originate and underwrite all types of affordable housing real estate transactions requiring LISC pre-development, acquisition, construction, or permanent loans, tax-exempt bond financing and Low-Income Housing Tax Credit (LIHTC) financing as well as New Markets and Historic Tax Credits.
• Provide loans and technical assistance to LISC NY partners undertaking economic development related real estate projects. This includes assistance with assessing project feasibility, underwriting, developing financing strategies, lending, advising on the selection and coordination of third-party consultants, and accessing financing via public subsidies and conventional sources.
• Present loan recommendations to LISC's credit committee. Perform credit analysis, including analyzing borrower operating performance, project financial performance, borrower management capacity, and project feasibility of affordable housing projects.
• Work in cross functional teams under deadlines with private and nonprofit real estate developers, attorneys, governmental agencies, lenders, equity investors and other entities to structure and close transactions.
• Manage key relationships with public and private sector partners. Work closely with City and State government to develop projects across all of LISC NY's housing programs.
• Represent LISC NY as an expert on affordable housing and economic development lending, and share best practices at conferences, trainings and events.
• Support senior staff in identifying and pursuing new partnerships and funding relationships to provide additional resources that will allow LISC NY to expand its overall financing efforts.
• Prepare reports and findings for investors, funders and other stakeholders as needed.
• Performs additional duties, as required.

Qualifications

• Bachelor's degree from an accredited college or university in real estate, finance, urban planning, public administration or related field preferred or relevant related work experience.
• Minimum 3 years of experience in lending, finance, community development or related field, with demonstrated experience in real estate development, particularly underwriting, deal structuring and financial analysis.
• Familiarity with the New York City and State area market, along with familiarity with city, state and federal government financing programs, including bond and tax credit financing, available to support projects.
• 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.
• Commitment to the community development sector and the critical role of nonprofit organizations in driving social change, preserving affordable housing and driving inclusive economic development.
• Work collaboratively with co-workers and representatives from the nonprofit, corporate, philanthropic and public sectors, and demonstrated flexibility and poise in dealing with a diverse range of individuals and organizations.
• Entrepreneurial spirit and ability to work independently on multiple tasks and projects, set priorities for a challenging workload, and be a positive, solution-oriented professional.
• Excellent writing, financial analysis and verbal communication skills

Compensation

LISC offers a competitive total compensation package, including salary ($81,600- $102,000) and excellent fringe benefits (health, dental, vision, and retirement plans).