Description
Working at The Bank of Missouri
At The Bank of Missouri we know it takes great people to support the communities we serve! We are passionate about caring for people and communities, and know how to recognize and reward our employees for their talent and contributions. When you work at The Bank of Missouri, you not only get to help others, but you also get the resources, opportunities and support to grow your own career.
About our Company
Staying in business for more than 125 years is hard. Really hard. If you think about it, we’ve endured many events, like the Great Depression and two World Wars. We’ve survived and thrived, thanks to our great customers and communities. We were founded on core values of accountability, community service and financial conservatism. Those principles are the reason we are still in business today. Caring for people and communities is our foundation!
We’ve built a reputation of being financially secure and community focused. We are an independent community bank and fully intend to stay that way. We are big enough to accommodate any financial need, yet small enough to give every customer the personal treatment they deserve.
About this job:
LIHTC Loan Officer is responsible for managing significant loan relationships as a senior representative to The Bank of Missouri’s specialty finance clients. This position is heavy in credit management, relationship management, business development, and financial analysis. The position requires a high attention to detail and the ability to meet deadlines while working in a client centric environment. Experience with the LIHTC industry and financing is required.
Here are some of the great benefits you will enjoy as a member of our team:
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Competitive Salary
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Personal paid time off, as eligible and paid holidays
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401K and Employee Stock Option Plan, as eligible
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Generous medical, dental, vision, life and disability insurance
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Fitness reimbursement
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Learning, development and growth opportunities
As a Customer Relationship Assistant you will:
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LIHTC loan underwriting for credit quality through the review of financial statements, business plans, public information databases, and background searches
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Manage large loan relationships, with many LIHTC project loans per relationship. Be the liaison between the client and the bank.
- Communicate the CEO and committee’s goals and parameters effectively to the loan relationship.
- Communicate the client’s goals and requests effectively to the CEO, President, and loan committee.
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Review, authorize, and recommend LIHTC loans for approval to loan committee. LIHTC products for M1 include LHITC Construction, LIHTC Equity, LIHTC pre development
- Review and authorize LIHTC draws
- Participate and communicate with the project development team regarding construction status
- Monitor the entire life of a LIHTC construction development
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Underwriting sources and uses
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Underwriting contingency funding
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Reviewing and approving draw requests including supporting documentation
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Underwriting construction status compared to financing status
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Monitoring Placed in Service Deadlines for the Credit
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Monitor construction cost overruns compared to contingency sources
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Analyze the LIHTC portfolio, segmented by loan type, relationship, state, communicate results to the loan committees, President, CEO
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Present the portfolio monitoring results to the loan committees, identifying and communicating high risk items
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Monitor updates and pending changes of the LIHTC program (federal) and individual states and communicate the impact to current and prospective LIHTC portfolio to the committee
- Preparation of written credit proposals and presentations to various credit committees
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Ensures existing credit relationships adhere to covenants and conditions and that required information is obtained in a timely manner through monthly or quarterly monitoring.
- Enhance current monitoring processes, worksheets, and presentations.
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Prepare LIHTC portfolio and loan relationship presentations to allow assessment of risk and opportunity
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Participate in all loan committees of the bank
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Communicate with clients regarding specific credit or documentation inquires and follow up
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Communicate with other banks who may purchase amounts of M1’s loans.
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Communicate with bank attorneys regarding loan documents, collateral, and perfection.
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Communicate with bank examiners (Missouri Division of Finance and FDIC) during bank examinations on the bank’s LIHTC credits and the LIHTC program and general.
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Comply with all banking laws and compliance rules
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Maintain, communicate and follow-up with loan servicing and loan analysts regarding pending/missing items and day to day operations.
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Collaborate with management to Identify opportunities for process improvements, system enhancements, and procedural changes as part of the growth and maturation of the company.
Qualifications for Success:
The successful candidate will possess general business, analytical and critical thinking skills and experience. Additionally, the ideal candidate should possess the following:
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Bachelor's degree (potentially in finance or accounting).
- 8+ years of relevant work experience in LIHTC Lending
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Excellent PC skills, strong skills with Microsoft Excel and Word
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Demonstrated ability to interact effectively with various levels within the organization
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Ability to demonstrate excellent detail orientation, critical thinking and analytical skills
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Displays excellent time management, organizational and problem-solving skills
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Ability to work well under pressure and meet deadlines
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Must have strong verbal, written and interpersonal communication skills
The Bank of Missouri is an Equal Opportunity Employer
