About the Position:
Civic Builders is seeking an ambitious, quantitatively savvy, mission-oriented individual eager to hone core skills fundamental to community development lending. This is an exciting opportunity to support the creation of excellent public schools that transform students' lives in underserved communities across the country. Civic Builders offers strong opportunities for career growth and advancement on our busy, growing national team. The Lending Associate will work independently on creating and managing the financial models that underpin credit underwriting for the lending business and growing their comfort with translating quantitative analysis into a clear, thoughtful written narrative product.
The Lending Associate will report to the Senior Director of Lending and work on the full cycle of activities related to real estate lending including origination, underwriting, technical assistance, and closing transactions. As a member of a nimble, experienced team, the Lending Associate will be expected to work closely with internal and external stakeholders and offer support on strategic projects led by the SVP of Corporate Development, the VP of Capital Solutions and the VP of Accounting (collectively the "Lending Leadership Team").
Responsibilities:
In their day-to-day role as a Lending Associate, candidates should expect to perform the following kinds of tasks:
- Support senior loan officers, loan officers, directors and senior directors on investments through credit underwriting, credit/investment committee approval and loan closing with an increasing level of independence over time.
- Work closely with prospective school borrowers to ensure they understand the application and underwriting process and are providing appropriate information to facilitate complete and thorough underwriting.
- Participate in internal and external meetings with an eye toward identifying and understanding key themes, highlighting areas for follow-up and observing different presentation styles.
- Provide project management support for loan processes: break tasks down into component parts, establish interim deadlines leading up to the final deadline and socialize the plan with team, follow-up as needed to ensure milestones are achieved and completed as required.
- Seek out opportunities to provide support, expand understanding and build relationships with the full team.
Required Qualifications and Attributes:
A successful candidate should have developed the following key skills through prior roles and/or training:
- Bachelor's degree required.
- 3+ years of relevant experience with credit underwriting, financial and related operational analysis and/or related functional areas that makes the candidate familiar/comfortable with some – but likely not all - of the following:
- Lending Concepts: Functional understanding of loan to value restrictions, appraisal inputs/drivers, benchmarks of creditworthiness, common financial covenants and related financial requirements.
- Legal Documents: Ability to read and identify key concepts within purchase and sale agreements, lease agreements, intercreditor agreements, loan and security agreements and/or promissory notes.
- Related Sector Knowledge: broad community development landscape; private, independent, parochial, charter or district school operations; affordable housing or other real estate business lines; and/or public finance.
- Basic principles of accounting, intermediate or advanced level financial modeling and analysis skills using Microsoft Excel, and ability to consolidate and organize large amounts of data are required. Candidates should specifically be able to:
- Input financial information (audits and projections) into Excel;
- Calculate financial ratios (financial covenants) using the data input;
- Perform initial analysis like calculating year over year increases/changes in revenues, expenses and cash position; and
- Organize large amounts of raw data into tables, charts and graphs that clearly communicate key take-aways from the data presented.
- Ability to translate quantitative information and analysis into a logical, grammatically correct written work product, coupled with an interest in working with more senior team members to improve writing for clarity, concision, and nuance over time. Experience with business/professional/technical writing is helpful.
- Proactive, self-starter with an eagerness to learn and flexibly contribute to the broader team that thrives in a high-growth, fast-paced environment.
About Civic Builders:
Civic Builders, Inc. (Civic) transforms children's lives and revitalizes communities by building inspirational schools for students in underserved neighborhoods across the country. Dedicated to giving every child the chance to attend a great school, Civic Builders partners with the nation's best educators to create public charter school buildings for students in communities where the need is greatest.
Since 2002, Civic Builders has built inspiring, bright, and modern buildings that give its partner schools cost-effective, customized educational space. Civic Builders expanded its business to include direct lending to non-profit charter schools and affiliates nationwide beginning in 2017. Over its five-year history, Civic's lending businesses have invested over $215M in high-quality facilities projects nationwide.
Location and Travel:
- Civic Builders is located in New York, NY. Our work environment is hybrid. Local employees and the Lending Associate Candidates are expected to work in the office a minimum of two days per week for team collaboration.
- Travel to support originations and underwriting work (site visits), contribute to new market development, and to represent Civic Builders at national conferences as required. Travel time commitment varies month to month and typically is less than 10% annually (1-2 days per month at most).
- Please note: Since we care so greatly about our employees' well-being, Civic Builders is committed to an environment where our employees are fully vaccinated against COVID-19. As a prospective new team member, you must be fully vaccinated with a CDC/FDA approved COVID-19 shot(s) to work in our offices. If you are selected to interview for this role, we will explain our vaccination policy in further detail and ensure you are comfortable moving forward with this company policy.
Compensation and Benefits:
Salary Range: $90,000 - $100,000
We want you to be well and thrive. Our benefits package includes:
- Healthcare insurance plans including medical, dental, and vision, flexible spending accounts (FSA) and health savings accounts (HSA)
- 401K retirement plan (Roth and traditional) including an employer match
- Short-term & long-term disability insurances
- Group term life insurance
- Commuter benefits program
- 12 weeks paid parental/family leave
- Paid time off including holidays, vacation and sick days
- Learning and development resources and reimbursement
- Social and educational outings
- Cell phone plan reimbursement and equipment replacement
- Home office setup
Commitment to Diversity, Equity and Inclusion
Civic Builders believes that diversity, in all its forms, enriches society and our organization. Because we support students in the highest-need neighborhoods, we have a particular charge to understand our schools and their communities. When our staff, board, and partners reflect, value and embrace the voices and perspectives of those most impacted by what we do, we have a deeper understanding and connection to their needs and more effectively achieve our aspiration of improving lives, revitalizing communities, and helping children receive the education they deserve.
We are an Equal Opportunity Employer
Civic Builders is an equal opportunity employer and welcomes candidates from diverse backgrounds and perspectives. Civic Builders provides employees with a safe and welcoming environment free of discrimination and harassment.
As an equal opportunity employer, we prohibit any unlawful discrimination against a job applicant on the basis of their race, color, religion, gender, gender identity, gender expression, sexual orientation, national origin, family or parental status, disability, age, veteran status, or any other status protected by the laws or regulations in the locations where we operate.
To Apply:
Please apply on our site:
https://civicbuilders.applytojob.com/apply/g5OTQFVshp/Lending-Associate?source=OFN
Please submit your resume for consideration by the application deadline - 10/07/22.
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David Umansky
CEO
Civic Builders, Inc.
New york NY
2125717260
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