Director Community Development Underwriting

About the Organization

The Momentus Capital branded family of organizations - which includes Capital Impact Partners and CDC Small Business Finance and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered municipal advisor, a FINRA-approved municipal advisor and municipal securities broker-dealer, FINRA/SIPC member)- are transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve.

We are working to reinvent traditional financial systems and advance locally-led solutions that create economic mobility and generational wealth. Through our continuum of financial, knowledge, and social capital , we offer a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions.

Our holistic and streamlined approach offers comprehensive solutions for small business entrepreneurs, real estate developers, community-based organizations, and local leaders at every stage of growth, from inception to expansion. When these leaders have the opportunity to succeed, their communities, their residents – and our country – thrive.

Position Summary

The Director Community Development Underwriting is responsible for overseeing loan underwriting functions and for the full lifecycle of new originations and guiding the restructuring and workout analysis for existing borrowers in alignment with the organizational risk appetite. The Director of Community Development Underwriting reports to the Head of Small Business and Community Development Credit within the Risk Team.  This position manages a team of commercial underwriters to support Community Development Lending (CDL) originations and supports existing borrowers in the portfolio.

Requirements

Essential Responsibilities

Loan Origination Production

• Lead a team of underwriters to underwrite complex transactions by ensuring comprehensive analysis, eligibility and conformance with  underwriting and credit guidelines such as assessment of historical and projected financial performance, cash flow, debt service, repayment and takeout analysis, sponsor/management capacity, leverage, liquidity, collateral, guarantor analysis, sensitivity and stress testing analysis, evaluating industry, funding sources and market conditions, repayment sources and key credit and underwriting risks  from screening to closing.
• Exercise sound independent judgement in evaluating transaction structure, risk/return considerations, policy exceptions, mitigants and overall creditworthiness and provide clear recommendations regarding approval, modification, escalation, or decline.
• Recommend appropriate strategies and guidance in collaboration with credit on risk mitigants, covenants, reserves, conditions and other structural guidance, including delivering advanced level underwriting judgements on transactions requiring escalation due to complexity, policy exceptions or other material considerations.
• Serve as the primary interface for the underwriting processes, actively participate in deal discussions by providing recommendations and technical structuring guidance, attend and deliver guidance during pipeline meetings, co-lead credit office hours, manage internal workflow and due diligence with the teams to close loans.

Leadership and Planning

• Provide input to the CDL Origination and the Credit, Risk teams with strategic and tactical planning in conjunction with organizational goals/objectives and new opportunities.
• Collaborate with internal stakeholders, including CDL loan originations, credit, portfolio and special assets to recommend training topics, conduct training where applicable and attend organized trainings for shared learning, discussing lessons learned and growing knowledge on key topics, including attending conferences/trainings.
• Conduct regular 1:1 meetings with direct reports to manage all aspects of building and lead a highly effective team. Oversee and manage staff development activities; coaching, training, monitor team performance by goal setting, assessing performance and communicating performance objectives.
• Responsible for hirings, and completion of justification for backfill and providing input on staffing needs for workforce development and planning.
• Partner with the portfolio and special assets teams, and other departments to improve handoffs and coordination, training on new products, and the release of policies and procedures to ensure alignment.
• Participate in meetings with CDL originations and other stakeholders to represent underwriting functions.
• Ensure good communication and sharing of information within the CDL loan origination team and other stakeholders.
• Collaborate with external partners such as peer CDFIs on industry updates and best practices to incorporate in the CDL processes and procedures.

Lifecycle Credit Underwriting, Origination and Portfolio and Workout Management

• Responsible for quality of underwriting of work products by the underwriting team and other members of the CDL originations teams during structuring such as eligibility, compliance with policies and procedures, including external guarantees, credit enhancements, and other lending tools by identifying strengths, weaknesses, recommend strategies and mitigants to minimize underwriting and credit exceptions to manage credit and underwriting risks.
• Deliver technical support and oversee the financial analysis for (historical, projections, collateral value, guarantor capacity for existing and distressed borrowers to develop and evaluate downside, stress, and exit, and recovery scenarios, including estimated loss exposure, recovery timing, collateral disposition, and other potential strategies in collaboration with other stakeholders to senior management for consideration.
• Review post-closing amendment memos,