SVP, Community Development Lender

We are seeking a dedicated SVP, Community Development Lender to support Mascoma Bank and Mascoma Community Development. The ideal candidate will play a crucial role in fostering community growth and development through effective lending practices and collaboration with various stakeholders.

Working closely with the SVP Community Development Lending Manager/ Managing Director, the SVP, Community Development Lender will examine, market, evaluate, and authorize or recommend approval of customer applications for New Markets Tax Credit Direct and Leverage, and applications submitted by HTC Permanent and Bridge, and LIHTC Construction. The Lender will work with the Managing Director to develop the annual budget and marketing program, submit the annual NMTC award application, as well as provide support to the Managing Director in the ongoing effort to ensure that MCD remains an important component of the Bank's CRA program.

Further responsibilities of this role under Mascoma Bank and Mascoma Community Development are as follows:

SVP Community Development Lender, Mascoma Bank

Generates new NMTC, HTC, and LIHTC commercial loans and other business. Generates and underwrites new NMTC, HTC and LIHTC tax credit investments:

• Reports directly to the SVP Community Development Lending Manager.
• Interviews applicant and requests specified information for loan application.
• Requests applicant credit reports, background checks, reference checks, and other information pertinent to loan applicant's evaluation.
• Analyzes applicant financial status, credit, and property evaluation to determine feasibility of granting loan or submits application to credit analyst for verification and recommendation.
• Corresponds with or interviews applicant or creditors to resolve questions regarding application information.
• Compiles loan package and facilitate negotiation of loan structure with applicant, including fees, loan repayment options, and other credit terms. Ensures that negotiated structure works within the specific tax credit transaction structure, while mitigating the specific risks of the various tax credit transactions.
• Approves loan within specified limits or refers loan to loan committee for approval.
• Ensures timely loan closing and funding activities.
• Works collaboratively with business partners (legal counsel and bank consultants) to ensure properly documented transactions.
• Identifies and analyzes potential loan markets to develop prospects for tax credit commercial loans.
• Promotes and cross-sells other Bank products and services as appropriate to customer requirements.
• Engage with SVP Community Development Lending Manager and all team members, along with the Bank's CRA staff, to consistently promote the Bank's CRA and Community Development efforts.
• Works with the SVP Community Development Lending Manager to develop and underwrite new NMTC, HTC and LIHTC investments for the Bank.

Mascoma Community Development responsibilities

Generates new NMTC allocation deployments, resulting in QEIs and QLICI Loans. Engages in the budgeting process and marketing plan development process:

• Reports to the Managing Director.
• Works with the Managing Director, the Bank's Chief Commercial Lender and the Bank's Chief Financial Officer in the development of MCD's annual operating budget.
• Works with the Managing Director, and the Bank's Chief Innovation and Brand Officer to develop a comprehensive marketing plan for MCD, annually.
• Prepares reports for, and responds as required to, the Managing Director. Develops and maintains relationships with investors, leverage lenders, other community and economic development entities, and other active organizations in the industry; conducts outreach and identifies potential new projects; and negotiates CDE and QLICI documents with investors, lenders and project sponsors.
• Educates project sponsors on how the NMTC program can help their projects, while helping them to structure a NMTC transaction that complies with all NMTC program rules and IRS revenue procedures and meets the requirements of MCD's CDFI Allocation Agreements.
• Structures New Markets Tax Credit financing transactions with other sources of funding, such as federal, state, regional and municipal lenders, grant providers, and other forms of capital with new sources of financing (e.g., debt guaranties, Federal grants, etc.)
• Participates in the development and ongoing maintenance of the project pipeline and assists the Managing Director and Baker Tilly in evaluating project impact and readiness to proceed.

Services Customer Portfolio:

• Provides exceptional customer service to their customer base. Works with Commercial Loan Assistant/Asset Management Associates to effectively resolve problems and address customer needs in a timely and professional manner.
• Participates in workouts of troubled investments and partnerships, as necessary.
• Meets regularly with customers to strengthen the relationship, keep apprised of customer's business, and expand the relationship as appropriate.
• In conjunction with asset management, monitors customers' financial performance, maintains and updates credit file.
• Works proactively with delinquent and/or deteriorating credits/investments.
• Engages with investors, lenders and other stakeholders in any transaction that is experiencing any form of credit problem.

This job description is not a comprehensive or exhaustive list of all duties and responsibilities.

Work Location: This a hybrid position based in our Portland, ME or Hanover, NH office.

What You Bring

• Bachelor's degree; or equivalent combination of education and experience in the business/banking field; Graduate degree helpful.
• Minimum of 10 years' experience in real estate development financing, commercial and industrial lending, community development financing and investment.
• Demonstrated expertise in capital stack development for affordable housing and community development.
• Business development skills
• Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or government regulations
• Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the public
• Ability to work mathematical concepts such as probability and statistical inference; Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations
• Ability to define problems, collect data, establish facts, and draw valid conclusions
• Ability to work with computer programs such as Microsoft Excel, Word, etc.
• Ability to use and working knowledge of computers/strong typing skills
• Good interpersonal communication
• Must maintain confidentiality and privacy

Why Mascoma Bank?

• Strong culture of belonging with a team that values creativity, new perspectives, and innovation.
• Community first minded. We care about our employees and the communities we serve.
• Competitive compensation.
• Flexible work environment with onsite, remote and hybrid opportunities.
• Career development and internal career mentorship.
• Comprehensive health care, dental care, and vision.
• 401(K) Program: 4% safe harbor employer match on top of 5% non-elective contributions following one year of service.
• Generous PTO starting at 22 days per year, not including 11 paid holidays and 16 hrs. of Volunteer Time Off.
• Tuition Reimbursement.
• Student Loan Paydown and so much more!

Background and Credit Check

As part of our commitment to maintaining a secure financial institution, all final candidates will be required to successfully complete background and credit screenings as part of the hiring process. These screenings will be conducted in accordance with applicable laws and industry regulations.

Please note: Having a record on a background or credit report does not automatically disqualify you. We evaluate results on a case-by-case basis, considering their relevance to the role and any regulatory requirements.

Our Commitment to Belonging!

The communities served by Mascoma Bank consist of individuals from diverse backgrounds. Our employees likewise bring unique perspectives, experiences, and approaches to the bank. We strive to create a safe and welcoming environment for all who pass through our doors and a workplace that actively demonstrates mutual respect and trust, one of our core values. A truly inclusive culture leads to a sense of belonging and support for all team members and inspires innovation and creativity. We are committed to recruiting and retaining a diverse talent pool, increasing team member engagement through professional development and community outreach activities, and offering personal growth workshops and team-building opportunities. By embracing diversity, equity, and inclusion, we strengthen our communities and ourselves.

Mascoma Bank is proud to be an Equal Employment Opportunity and Affirmative Action employer. We do not discriminate based upon race, ethnicity, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, veteran status, status as an individual with a disability, or other applicable legally protected characteristics. To request reasonable accommodations, please contact careers@mascomabank.com.

Mascoma Bank is an Affirmative Action and Equal Opportunity Employer, M/F/D/V.