Investment Associate

Civic Builders

Posted: 10/23/2019

Position Type: Full-Time (Paid)

Function: Finance/Accounting

Primary domain: Education

City: New York

Postal code: 10014

State: New York

Country: United States

Organization Information:

Budget:

$1M - $3M

Website:

www.civicbuilders.org

Mission statement:

Real estate will never be a barrier to great education.

Position Details:

Job Description:

ABOUT THE ORGANIZATION:

Civic Builders transforms children’s lives and revitalizes communities by building inspirational schools for students in underserved neighborhoods.  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 schools give underserved students—82% of students at Civic Builders schools live in poverty and 96% are minorities—the opportunity to excel.

In addition, the success these students achieve goes beyond the classroom, as Civic Builders schools become anchors for the low-income, underserved neighborhoods where they are located. Civic Builders schools revitalize communities by providing beautiful spaces where generations of students can learn and where communities come together to support their children’s futures.


ABOUT THE POSITION:

The Investment Associate will report to the Vice President of Finance and Lending in support of a national charter school lending platform.  On a day-to-day basis, he or she will work closely with internal and external stakeholders on the full-cycle of activities related to real estate based lending, including origination, underwriting, technical assistance, closing transactions and transitioning loans into asset management.  He or she may also support the Financial Services team on development financing projects and/or other lending platforms on an as-needed basis.   

Candidates interested in this role should demonstrate the following competencies and have the ability to fulfill the described responsibilities:

  • Due Diligence: 
    • Manage the collection of the loan application materials from the borrower and commission third-party due diligence reports (e.g., appraisal, plan and cost review, etc.) from vendors. Use the application package and third-party due diligence reports to underwrite the loan request.  Underwriting will include analysis of: 
      • Pro-forma financial projections, historical financial statements of the borrower and any guarantor organizations, budgets, repayment sources;
      • Market and regulatory conditions;
      • Borrower operating information including enrollment history, demand data and academic performance outcomes;
      • Appraisal reviews, entitlement/land use assessments, environmental reports, plan and cost reviews, property conditions reports;
      • Requirements related to other capital sources and enhancements; and
      • Other analysis as appropriate to assess credit risk on a given transaction
    • Conduct a site visit as part of underwriting each transaction and will attend prospect/customer calls as needed to support market other members of the Finance and Lending team
    • Compare the credit to relevant investment guidelines for the primary investment fund to ensure conformance or identify exceptions
    • Prepare written loan approval requests for presentation to the internal loan committee for approval.  He or she will prepare exhibits (e.g., financial analysis) for the loan approval package and work closely with the Vice President of Finance and Lending to present the credit approval requests to primary funders, as needed.
  • Deal Structuring: Collaborate with internal and external parties (banks, co-lenders, attorneys, foundations, local government units, etc.) to structure financings including managing inter-creditor negotiations; reviewing real estate contracts, leases, conducting due diligence; and identifying and negotiating key risk mitigants including reserves, guarantees and other forms of credit enhancement.
  • Customer Service:  Maintain a positive and professional relationship with customers and business partners (which include third party lenders, attorneys and other external parties such as appraisers) by both initiating and responding promptly to any and all requests in a responsive, consistent, and accurate manner.
  • Internal Responsibilities: Participate in ongoing efforts to establish and/or improve internal processes and procedures to improve efficiencies across the organization. Bring an entrepreneurial energy and open-minded perspective to your work.

Qualifications:

CANDIDATE REQUIREMENTS:

The ideal candidate will possess the following qualifications:

  • 5+ years of experience with community development lending projects (e.g., affordable housing developments, charter schools, community health centers, etc.) and/or products (CDFI bond guaranty program, New Markets Tax Credits) and strong analytic skills
  • Community development lending or borrowing background including experience with nonprofit public charter schools
  • Strong relationship management skills, with a track record of building relationships among a demanding client base with diverse backgrounds and leading through influence
  • Passionate about Civic Builders’ mission to provide equitable access to education, and specifically facilities

  • Thrive in high-growth, fast-paced environment, with the ability to build out new initiatives and navigate ambiguous situations

  • Flexible and committed to contributing to a small, collaborative and ambitious team

  • Bachelor’s degree; MBA or similar advanced degree a plus

Benefits:

Salary and benefits will be competitive and commensurate with experience.

Salary:

Commensurate with Experience

Posting Expiration Date:

12/22/2019

How to Apply:

Please submit your resume and cover letter for consideration to: [email protected]


Please use your cover letter to describe your direct experience performing the required responsibilities and meeting the candidate requirements.


Civic Builders is an equal opportunity employer and welcomes candidates from diverse backgrounds.


 

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