VP II, Community Development Finance - CA Lending - Full-time

The Community Development Finance (“CDF”) team of First-Citizens Bank & Trust Company (the “Bank”), is responsible for executing the Bank’s Community Reinvestment Act (CRA) and Community Benefits Plan (CBP) strategies through the origination and management of Community Development Loans and Low-Income Housing Tax Credit (LIHTC) equity investments. The Bank currently has a national portfolio of $2.8+ billion in committed investments that support the new construction or rehabilitation of affordable housing for low-income seniors, families, veterans, individuals with special needs or disabilities, and the chronically homeless, and we are embarking on a massive effort to expand the Bank’s commitments to low- and moderate-income communities. Note that the Bank operates under the Silicon Valley Bank brand, as a Division of First-Citizens Bank & Trust Company, in the majority of the Bank’s California affordable housing markets.

The Vice President II is a Senior Relationship Manager responsible for maintaining a portfolio of high-valued client relationships and originating and managing CRA-eligible community development loans, and occasional EQ2s, in order to achieve the Bank’s CRA goals. The Vice President II is supported by the Associate(s) and Loan Operations team, but is ultimately responsible for all aspects of all loan origination sourcing and closing.

Client management:

• Maintain contacts within client organizations, ranging from assistant project managers, project managers, real estate directors, and CFOs on deal-specific matters and broader organizational condition and initiatives.
• Prepare, or oversee Associate in the preparation of, annual Sponsor Reviews, including reviewing financial reports, real estate schedule, pipeline report, strategic plan, etc., confirming current deal status, coordinating call with CFO/RE Director to discuss financial and strategic initiatives, confirming Sponsor tier ranking tool, and setting client TPL management strategy.
• Coordinate and participate in annual sit-down meeting with principals and Head of Community Development Finance to discuss strategic initiatives, client response to market, industry, and political conditions.
• Seek out other ways of client engagement, including cross-sector collaboration.
• Coordinate with Head of Community Development Finance on annual client fundraising gala sponsorship and event participation.

Loan origination:

• Develop pipeline of deals in market that fit the credit risk profile and strategic goals of the Bank, and develop strategy for securing such financing opportunities.
• Prepare, or oversee Associate in the preparation of, preliminary deal underwriting and credit approval process for funding application support and RFP responses, and commitment letter and term sheet submittals.
• Prepare, or oversee Associate in the preparation of, credit approval packages, including affirming credit risk rating, covenant and reporting requirements, Sponsor review, underwriting model, and deal summary. Validate all key metrics, including market rents, cap rates, LTV, LTC, etc.
• Confirm Credit Risk Rating and other deal risks & mitigants,
• Conduct analyses of deal structure, including researching and inputting valid market assumptions (growth rates, cap rates, expense comparables, and market rent comparables),
• Lead due diligence review and fulfill all requirements as detailed in the Loan Closing Checklist;
• Lead negotiations of all legal documentation, including Bank, subordinate lender, and investor agreements.
• Prepare, or oversee Associate in the preparation or, all regulatory reporting requirements, including CRM records for HMDA and Reg B, and CDD.

The base pay for this position is relative to your experience, but the range is generally $120,000 to $180,000 per year. This position is eligible for variable compensation, which may be in the form of incentive, bonus, or commission pay. First Citizens offers a competitive, comprehensive benefits program which you can review here: .

Basic Qualifications

• • • Bachelor’s Degree or Associate’s Degree with 5+ years of experience related to affordable housing
    • Ability to write in a clear and concise manner to convey complex information.
    • Self-motivated and driven, highly organized with excellent project management skills, proven ability to work independently.
    • Strong credit and financial analysis skills.
    • Ability to travel 5% - 10% of time.
    • Ability to collaborate with and learn from team members and internal and strategic partners, as well as multi-task and juggle multiple closings and projects at the same time.

Preferred Qualifications

• Minimum 7+ years of experience related to affordable housing, with a preference for affordable housing project management experience at a California-based developer, or underwriting and structuring loans and/or equity investments for multifamily housing funded with Low Income Housing Tax Credits (LIHTC).
• Experience in affordable housing industry in Los Angeles County with a public agency, financial institution, developer or other related entity.
• Masters Degree or other advanced study in real estate, finance, business or related field.
• Advanced Excel skills.