Community Affordable Housing Equity Corporation (CAHEC) is currently seeking candidates for a Manager, Lending position for CAHEC Capital, Inc. – a nonprofit Community Development Financial Institution (CDFI) that serves as the lending affiliate of CAHEC. CAHEC is a non-profit tax-credit syndicator based in Raleigh, NC that fosters healthy neighborhoods by raising equity capital and investing in affordable rental housing and community revitalization. Our portfolio comprises 700 assets in eleven states. CAHEC Capital promotes sustainable housing opportunities by providing flexible and affordable loan products to affordable housing developments financed by CAHEC.
The Manager, Lending is a CAHEC employee who serves as the primary liaison to CAHEC Capital, Inc. The position is responsible for strategic planning, budgeting, raising and deploying capital, and administering the operations of CAHEC Capital and other CAHEC lending programs. Operational oversight includes providing administrative and professional support to the Board of Directors of CAHEC Capital and coordinating and managing the efforts of key CAHEC employees and third-party providers who support CAHEC Capital’s activities. Based on experience and judgement, the position analyzes, evaluates, and presents recommendations regarding the financing and investment in complex real estate transactions.
The employment classification or this position is exempt.
Specific functions include:
- Independently manage CAHEC Capital’s Loan Programs that are geared specifically toward affordable housing developers within the LIHTC industry.
- Oversee day-to-day operations of CAHEC Capital and serve as liaison to CAHEC Capital’s independent Board of Directors.
- Pursue business development opportunities to expand and enhance borrower relationships and lending opportunities.
- Evaluate existing loan products and develop new opportunities that support community development and affordable housing.
- Oversee lending program operations including loan production goals; design and implementation of new and updated financial products and services; portfolio management; loan policies and systems, reporting of the loan portfolio reporting; loan servicing, and business development.
- Manage the entire loan closing process including coordination with internal departments, borrowers, and external legal counsel.
- Maintain CAHEC Capital’s status as a certified CDFI including reporting requirements and serve as the lead for all future grant applications.
- Maintain a quality CAHEC Capital Board of Directors and provide ongoing analysis of operations and lending activities.
Bachelor’s degree in real estate, finance, business, city planning, or economics. Or, an equivalent combination of education and comparable work.
Minimum five (5) years progressively responsible work experience relevant to real estate financing and lending, including knowledge of underwriting and partnership law and taxation, the CDFI/community development financing industry, and/or Low Income Housing Tax Credits.
Knowledge, Skills, and Abilities
Working knowledge of lending including the loan functions of closing, servicing, reporting, and administration.
Proven ability of the following: seek and develop productive working relationships in order to promote and present complex lending products, negotiate complex transactions tactfully, analyze and develop complex financial lending models, and demonstrate advanced proficiency in Microsoft Word and Excel.
This position is based out of CAHEC’s corporate office in Raleigh, NC. Certain objectives require working on-site at various locations, such as industry conferences and events at properties in CAHEC’s investment portfolio, and some professional training opportunities may require travel.
Compensation and Benefits: CAHEC is an equal-opportunity employer that offers a competitive compensation and benefits package.