Director, Investment Professional, Affordable Housing
Summary
Leads underwriting and structuring of affordable housing financing deals for a CDFI, working with public/private partnerships, tax credits, and grants while managing client relationships and ensuring compliance.
RDF
Director, Investment Professional, Affordable Housing
About RDF
RDF is a national Community
Development Financial Institution (CDFI). Driven by a mission to unlocking
lasting prosperity in communities across the United States, RDF provides
responsible and attainable financial solutions to community-based organizations
focused on health, education, affordable housing, home ownership, and
entrepreneurship.
RDF was founded in 1999. As a
testament to its exceptional financial strength and impact, RDF stands out as
one of the few CDFIs with a prestigious AA- S&P rating. Since its
inception, RDF has invested more than $1.6 billion across 38 states, leveraging
over $7.2 billion in additional capital.
OUR INVESTMENT STRATEGY
Our
investment strategy is predicated on an ultra-high touch and value-added
approach to supporting organizations that prioritize premium outcomes to create
economic prosperity and bridge wealth gaps. RDF’s market position as a
preferred debt capital partner enables superior project sourcing capabilities,
and our team of impact investment professionals care deeply about the success
of our clients. To that end, we bring more than just capital to the table – we
make key connections, provide valuable advice, design and lead structured
financing's, and deliver innovative solutions. Operating as a non-regulated,
specialty finance company, our due diligence process is decidedly values-based;
forward looking; and we actively embrace complexity to capitalize on
differentiated, impact investment opportunities.
ABOUT THIS OPPORTUNITY
Reporting to the Senior Vice President of Affordable Housing, this position provides community development underwriting support to the Affordable Housing lending team. The Director, Affordable Housing will tailor debt financing solutions for complex structured transactions that could involve public/private partnerships, traditional debt, grant capital, and/or Low-Income Housing Tax credit financing. In this role, the successful candidate will work directly with borrowers, vet lending opportunities, provide technical assistance, conduct due diligence and financial analyses, draft credit memoranda, defend recommendations to credit committee(s), and coordinate the documentation and closing of secured and unsecured credit products for clients in the assigned industry. While this role may be performed remotely, preference will be given to candidates based in Arizona, where RDF is headquartered. A local presence will support on-the-ground engagement with clients and partners and enable the successful candidate to contribute to Arizona-focused initiatives.
Requirements
The Director, Affordable Housing will be expected to:
- Adhere to RDF’s core values, including a commitment to working in economic development endeavors with diverse, under-resourced communities.
- Actively manage and monitor a portfolio of affordable housing loans and provide deep, ongoing technical assistance to new and existing client relationships.
- Serve RDF’s clients as a trusted advisor throughout the full cycle of client relationships and provide high-value, technical assistance services, when necessary.
- Maintain an on-the-ground presence in Arizona to strengthen client and partner relationships and support Arizona-focused initiatives.
- Apply knowledge of the affordable housing and community development marketplace and programs and policies affecting the community development industry.
- Engage in industry groups and relevant conferences and events.
- Develop and defend insightful investment theses by screening and underwriting financing requests, including analyzing community impact, historical and projected financial performance, management capacity, the feasibility of budgeted financing sources, and conducting prospect site inspection visits.
- Present financing requests for approval and manage closings.
- In collaboration with the loan operations team, complete post-closing financing follow-up activities, including project construction management, construction draw requests and supporting documentation, and collecting all applicable reporting requirements, monitoring borrower financial performance and compliance with loan covenants, and tracking key financial ratios, as necessary.
- Maintain a group calendar of events, including industry-related events, and client groundbreakings and fundraisers, and represent RDF at those events, as necessary.
- Collaborate with other industry specific teams on financing opportunities, as necessary.
- Perform other tasks, as assigned.
Education:
- Bachelor’s degree in finance, Real Estate, Business Administration, Urban Planning, or a related field.
Experience:
- Minimum of 5-7 years of experience underwriting affordable housing transactions, with a proven track record of sourcing, evaluating, and managing multifamily affordable housing and community development lending facilities.
- Demonstrated experience with affordable housing finance, low-income housing tax credit transactions, and/or agency lending products that address housing inequities.
- Experience with state housing finance agency low-income housing tax credit administration and subordinate debt programs such as tax-exempt bonding financing and/or US Dept. of Housing and Urban Development subsidy programs.
- Experience working with or within underserved communities, particularly communities of color, to understand their unique needs and challenges related to access to education, healthcare, or housing.
Financial Analysis Skills:
- Strong financial analysis skills, including proficiency in financial modeling, valuation techniques, and risk assessment, with experience in underwriting complex real estate transactions.
- Deep understanding of community development finance mechanisms, including Low-Income Housing Tax Credits (LIHTC), New Markets Tax Credits (NMTC), tax-exempt bonds, and various subsidy programs.
- Understanding of investment structures and financial instruments relevant to nonprofit finance.
Community Development Knowledge:
- Understanding of community development principles and practices for education and healthcare facilities financing.
- Knowledge of Community Development Financial Institutions and their role in providing capital to underserved communities.
- Awareness of policy issues affecting community development, such as charter schools, healthcare, affordable housing policies and economic development initiatives.
Communication and Relationship-Building Skills:
- Strong time management and organizational skills, including the ability to manage multiple priorities, meet deadlines, and ensure timely follow-up with clients, partners, and internal teams.
- Strong communication skills to effectively convey complex financial concepts to diverse stakeholders, including investors, community organizations, and government agencies.
- Ability to build and maintain relationships with community partners, investors, and other stakeholders to advance health equity initiatives.
- Cultural competency and the ability to work effectively with diverse communities, particularly within the Latino/Hispanic community.
Analytical Skills and Attention to Detail:
- Strong analytical skills with attention to detail in financial analysis, impact measurement, and reporting.
- Ability to synthesize complex information and data to inform investment decisions and measure social impact.
Passion for Social Impact:
Commitment to social justice, economic equity, and community development with a passion for serving low-income and underserved communities and advancing RDF's mission.
Teamwork and Collaboration:
- Ability to work effectively as part of a team, collaborating with colleagues across different departments and functions to achieve shared goals.
- Flexibility and adaptability to work on multiple projects simultaneously in a dynamic environment.
Technical Proficiency:
- Proficiency in relevant software applications such as Microsoft Excel, financial modeling software, and databases used for impact measurement and reporting.
Certifications:
- Relevant certifications in finance, community development, or public health may be beneficial, but not required.
Benefits
- 401(k) & 401(k) matching
- Health, Dental, and Vision Insurance
- Life Insurance
- Health savings account
- Paid time off
- Parental leave
- Professional development assistance