Director, Community Development Underwriting

This is a fully remote position, open to applicants in California, +4 more states.

📋 Description

• Supervise the loan underwriting operations and oversee the complete lifecycle of new originations.

• Direct the restructuring and workout analysis for current borrowers in accordance with the organization's risk appetite.

• Lead a team of commercial underwriters who support Community Development Lending originations and existing portfolio clients.

• Facilitate the underwriting of intricate transactions from initial screening to final closing.

• Assess transaction structures, risk/return profiles, policy exceptions, mitigants, and creditworthiness; recommend approvals, modifications, escalations, or declines.

• Offer technical structuring advice on risk mitigants, covenants, reserves, conditions, and various structural matters.

• Act as the primary liaison for underwriting processes and engage in discussions regarding deals, pipelines, and credit office hours.

• Oversee internal workflows and due diligence to ensure successful loan closures.

• Assist in strategic and tactical planning for CDL Origination, Credit, and Risk teams.

• Conduct training sessions, share insights, and collaborate with internal stakeholders and external peer CDFIs.

• Manage direct reports through one-on-one meetings, coaching, training, goal-setting, and performance evaluations.

• Recruit staff and contribute to staffing and workforce planning decisions.

• Ensure underwriting quality and adherence to policies, guarantees, credit enhancements, and lending tools.

• Analyze downside, stress, exit, and recovery scenarios for current and distressed borrowers.

• Review amendment memos, credit memos, and credit analyses for completeness and quality assurance.

• Challenge assumptions, projections, valuations, business plans, transaction structures, and workout strategies.

• Identify early warning signs and suggest strategies to enhance borrower performance and reduce financial exposure.

• Utilize portfolio performance, delinquency, modification, restructuring, charge-off, and workout data to refine underwriting guidelines and transaction structuring.

• Oversee underwriting checklists, closing timelines, workload distribution, service-level agreements, and pipeline management.

• Collaborate with technology and operations excellence on automation, templates, process mapping, testing, and process enhancement.

• Maintain and revise underwriting guidelines, procedures, policies, and supporting documentation.

• Assist with credit and risk special projects, new lending products, and other assigned functions.

• Ensure data integrity in compliance with organizational policies.

⛳️ Requirements

• Bachelor’s degree or advanced degree in business or public administration, finance, or a related field is preferred; educational qualifications will be evaluated in conjunction with work experience.

• A minimum of 10 years of advanced experience in commercial and community development lending underwriting and/or lending.

• Proficiency in cash flow analysis, sensitivity analysis, stress testing, leverage and liquidity analysis, collateral and guarantor assessment, risk ratings, debt service capacity evaluation, collateral valuation, loan structuring, and risk mitigations.

• Proven track record of exercising credit judgment and making or presenting recommendations on complex transactions, policy exceptions, restructurings, and significant amendments and modifications.

• At least three (3) years of experience managing direct reports.

• Strong expertise in underwriting, credit risk management, and impact areas.

• Excellent written and verbal communication skills, along with strong management/coaching, process management, operational effectiveness, decision-making, and analytical abilities.

• Capacity to maintain a broad perspective while focusing on detailed tasks and providing comprehensive documentation.

• Ability to work efficiently and accurately in a dynamic environment with multiple projects and tight deadlines.

• High proficiency in using Google, Microsoft Office, Adobe Acrobat, Salesforce, and other loan origination systems.

• Adaptability to evolving IT environments.

• Display professionalism, diplomacy, composure, and flexibility.

• Exceptional communication and collaboration skills across all organizational levels.

• Strong loan compliance and risk management skills; sound judgment and the ability to manage ambiguity, complexity, and organizational financial exposure.

• Deep commitment to the Momentus mission.

• Previous experience with Community Development Financial Institutions (CDFIs) is advantageous.

• Must be legally authorized to work in the United States; the company will not sponsor work visas.

🏝️ Benefits

• May qualify for an annual discretionary incentive.