Director of Credit
Civic Builders, Inc.
ABOUT THE ORGANIZATION:
Civic Builders transforms children’s lives and revitalizes communities by building and funding inspirational schools for students in underserved neighborhoods. Dedicated to giving every child the chance to attend a great school, Civic Builders partners with the nation’s best educators to create and finance public charter school buildings for students in communities where the need is greatest.
Since 2002, Civic Builders has provided schools with the resources to secure inspiring, bright, and modern buildings that give its partner schools cost effective, customized educational space. Civic Builders schools give underserved students—82% of students at Civic Builders schools live in poverty and 96% are minorities—the opportunity to excel.
In addition, the success these students achieve goes beyond the classroom, as Civic Builders schools become anchors for the low-income, underserved neighborhoods where they are located. Civic Builders schools revitalize communities by providing beautiful spaces where generations of students can learn and where communities come together to support their children’s futures.
ABOUT THE POSITION:
Our Director of Credit will oversee the credit processes that support our mission-driven lending and borrowing activities on behalf of charter schools. The Director of Credit will be responsible for managing all aspects of the credit function including adherence to, communication of, and improvement upon existing policies, risk rating systems, approval processes, credit administration, and portfolio analysis. This will necessarily involve working closely with key members of the executive team (CEO, COO, SVP of Corporate Development, VP of Accounting, Director of Capital Solutions), the Board of Directors, capital providers, and individuals at all levels within the organization. His or her efforts will support Civic’s overall objectives aimed at long-term sustainable growth and impact.
In addition to overseeing and managing overall credit policy and credit quality of Civic’s loan portfolio, a successful candidate will be expected to serve as an integral part of the executive leadership team, provide direction and support to the credit and asset management teams, develop and nurture effective relationships with the lending team, remain abreast of industry- and sector-wide trends, and implement ongoing credit training.
Candidates interested in this role should be able to demonstrate the following characteristics and substantiate their prior experiences with the following types of work:
- Represent the credit and impact goals of all lending platforms
- Understand the nuances of how credit policies interact and interface with the programmatic goals to define the unique risk appetite of each platform
- Align with leadership and key stakeholders to be able to oversee the programmatic and impact goals of each program similarly to how traditional credit terms are overseen
- Own, lead and drive active, hands-on credit oversight for all prospective investments
- Review and provide feedback on investments as they advance through the process
- Provide coaching and support to underwriting team on presentations to external stakeholders
- Facilitate all required approvals for each investment
- Be part of developing and executing on a strategy to solve complex credit problems
- Provide constructive recommendations to address any challenges that may arise
- Participate in and be willing to drive on the pursuit of potential solutions
- Lead investment and portfolio reviews for closed investments
- Oversee and improve annual investment review process for individual loans, with support from the underwriting and asset management teams
- Facilitate presentation of materials to key internal and external stakeholders
- Review consolidated portfolio reports required for capital providers and stakeholders
- Initiate and establish systems and processes for ad hoc credit reviews that may be required in response to investment-specific issues that arise and/or in response to systemic challenges that impact the sector as a whole
- Build and grow relationships with stakeholders
- Own credit relationships with capital providers
- Enhance existing relationships and bring/build new relationships to support future growth goals
- Use existing relationships/platform to amplify the impact of investments and projects
- Contribute to key program management activities
- Annual reports to funders and stakeholders
- Based on the candidate’s particular background, involvement in strategic projects, process development/improvement, etc. will vary, but the expectation is that up to 20% of time/workload could be focused on work that is complementary to or overlapping with the core credit work described above.
- Support the Director of Capital Solutions and the Chief Operating Officer in the development and implementation of a long-term strategy for the lending business
- Support the Director of Capital Solutions on the planning, development and launch of any new lending platforms or products
- Act as a thought and execution partner in identifying and making improvements to the policies, processes and systems that underpin the lending business.
The ideal candidate profile will include:
- Credit Expertise: At least 10 years of direct experience in a credit underwriting role, making direct investments; credit leadership experience a plus.
- Specific experience in commercial and/or community development lending, tax-exempt bond transactions, or other direct lending activity (e.g., private placements).
- A high degree of familiarity with financial analysis, accounting and audit principles.
- Ability to work effectively with and help develop the skills of underwriters of varying skill levels and backgrounds.
- Demonstrated ability to utilize effective interpersonal skills to build and maintain relationships with individuals of diverse backgrounds and styles.
- Excellent communication skills and demonstrated ability to work collaboratively to achieve goals.
- Versatility to shift between strategic and operational responsibilities, taking pride in your ability to personally see work through to completion
- Ability to think outside the box and take risks in pursuit of creative solutions
- Track record of successfully developing, improving and/or implementing programs, products, processes or systems in a financial services environment
- Mission Orientation: Passionate about Civic Builders’ mission to improve access to education and through the growth of non-profit, public charter schools.
- Education: Bachelor's degree required; CFA, MBA or other relevant advanced degree preferred
LOCATION: Our offices are in New York, NY. The role will begin remotely given the pandemic, however we are open to continued remote/flexible arrangements going forward. As such, candidates from the eastern and central time zones are welcome to apply.
COMPENSATION AND BENEFITS:
Salary and benefits will be competitive and commensurate with experience.
Please use your cover letter to describe your direct experience performing the required responsibilities and meeting the candidate requirements.
Civic Builders is an equal opportunity employer and welcomes candidates from diverse backgrounds.
Job Type: Full-time
- Health insurance
- Paid time off
- Professional development assistance
- Temporarily due to COVID-19