Director of Lending

VISION STATEMENT: People in every community have an affordable place to live and opportunities to thrive.

MISSION STATEMENT: We work with partners to connect underserved communities in the northern New England region with capital and expertise to advance projects and policies that create more inclusive places to live.

SUMMARY

The Director of Lending is responsible for tracking and reporting on the overall performance of the loan portfolio while supporting the development and fostering of relationships with borrowers, investors and business partners. This role also works in collaboration and partnership with the Executive Vice President, Senior Management Team and others to develop and manage processes and procedures as well as strengthen and grow the lending business. Building strong relationships with professional integrity is essential to success in this role. They are committed to and responsible for promoting the mission of Evernorth to its partners and the public through a variety of means, as well as upholding Evernorth’s corporate principals of respect, service, values and partnership.

SPECIFIC RESPONSIBILITIES:

Loan Fund Development and Growth

• Develop and execute a five-year Loan Fund business plan including the establishment of fundraising, capital raising and loan fund deployment targets;
• Track and report on Loan Fund performance including annual fundraising and capitalization, capital deployment and profitability.
• Track and match capital availability and funding needs to guide the origination and management of a robust loan pipeline.
• Develop annual department goals.
• Support the effort to originate, underwrite, and approve loans.
• Track and report on loan pipeline from origination to payoff.

Loan Fund Capitalization

• Identify fund capitalization opportunities including Treasury (CDFI) funding, philanthropic grants, program related investments (PRIs) and other investment capital, and manage the fundraising process.
• Under the leadership of the President and Chief Financial Officer, coordinate the process of writing and submitting an application for Evernorth Loan Fund to become a CDFI.
• Track and report on capital requests, awards, deployment.

Loan Fund Operations, Administration & Compliance

• Maintain a working knowledge of the structuring, servicing and risk issues of the loan products currently offered by the Evernorth Loan Fund
• Oversee the scheduling of Credit Committee and Loan Committee meetings. Assemble committee packages and attend the meetings.
• Develop and implement loan portfolio administration policies and procedures, including enhancing existing systems and procedures as necessary.
• Develop and manage a loan pipeline reporting and loan portfolio systems.
• Oversee compliance with and reporting to external funders including Loan fund investors, Treasury, and others.
• Oversee compliance with the U.S. Department of Treasury’s CDFI Fund’s requirements to keep the Loan Fund in good standing.
• Collaborating with the COO and Finance, fully implement The Executive Assistant (TEA) used to service, track and report on the loan portfolio.
• Prepare for and evaluate readiness to secure AERIS CDFI loan reporting system rating.

Loan Fund Staff Management

• Oversee Senior Loan Administrator and/or support other staff in underwriting, approval processing and closing of loans.
• Delegate appropriately to the Senior Loan Administrator including overseeing and managing delegated functions
• Evaluate growth and resources needs and hire additional staff as necessary.

Team & Culture

• Maintain high standards of confidentiality and professionalism.
• Uphold corporate principles of respect, service, value, and partnership.
• Carry out other duties as assigned.
• Serve on the Evernorth Management Team. The Management Team fosters effective and consistent communication to support Evernorth’s goals, improve productivity and foster peer learning. The Management Team provides support to staff, one another and the Senior Management Team.

REPORTS TO: Executive Vice President & Chief Program Officer

SUPERVISES: Senior Loan Administrator

EDUCATION, LICENSES AND/OR CERTIFICATIONS REQUIREMENTS:

• Bachelor’s Degree.
• Valid driver’s license and insurance

JOB KNOWLEDGE AND EXPERIENCE:

• Minimum five years’ management experience - preferably in real estate and affordable housing finance and/or mission-focused organizations.
• Minimum five years’ experience in lending, preferably to affordable housing and/or community development projects.
• Experience managing business relationships.
• Knowledge of tax-incented financing programs, financial modeling, and commercial underwriting.
• Proficiency in Microsoft Office 365, Outlook and SharePoint.

JOB ESSENTIAL SKILLS:

• Excellent written and verbal communication skills.
• Strong organizational, analytical, and critical thinking skills.
• Solution -oriented and excellent problem solver.
• Ability to work effectively with a wide variety of professionals in different locations by video, phone, email, and in person.
• Ability to build and sustain excellent processes.
• Ability to take initiative and respond quickly to shifting work priorities, including balancing multiple priorities with sensitive timelines.
• Ability to work well independently and as a team member.

Job Preferred Skills:

• Working knowledge of loan servicing software.
• CDFI experience.

The following are the general Evernorth work environment and physical demands:

• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
• The noise level in the office work environment is usually quiet.
• This position requires periods of sitting, standing, walking, stooping, and bending.
• Ability to reach with hands and arms, and talk and hear.
• Specific vision abilities required by this job include close, distance and peripheral vision, depth perception and ability to adjust focus.
• This position requires substantial typing, reading and writing emails, and other related computer work.
• The employee is regularly required to use hands and fingers.
• May require driving to meetings and offsite locations in personal car.
• May require lifting up to 20 pounds.