Director, CDF Loan Portfolio Management

OVERVIEW

First Citizens Bank's Community Development Finance (CDF) team is responsible for executing the Bank's Community Reinvestment Act (CRA) strategy through the origination and management of Community Development Loans and Investments. First Citizens Bank commits millions of dollars in loans and investments each year to support the new construction and rehabilitation of affordable housing for low-income seniors, families, veterans, individuals with special needs or disabilities, and chronically homeless individuals. With these loans and investments, First Citizens Bank aims to make a meaningful impact in the communities where we do business.

The CDF team is undertaking a major ramp-up initiative to significantly grow our lending origination and portfolio management program as First Citizens Bank integrates the community development operations of First Citizens bank, CIT Bank and recently acquired Silicon Valley Bank. This team member will play a pivotal role in bringing together the community development loan portfolios of these three organizations into a united portfolio management program.

The Director of Portfolio Management for Community Development Finance is a senior team leader reporting to the Group Head. This is a key role involving a national portfolio of over $1.5 billion in loan outstandings and commitments and targeted for substantial growth over the next 5 years.

The Director is supported by Portfolio Management Team Vice Presidents and Associates, and is ultimately responsible for all aspects of all construction and permanent loans and equity equivalent loans under his/her/their management until the loans are repaid. In addition to portfolio management oversight, the Director is responsible for training and nurturing the careers of VP's and Associates on the Portfolio Management Team to encourage service excellence, long-term thinking and powerful results in team member performance and positive client experience.

RESPONSIBILITIES

Overseeing the monitoring, management and reporting functions related to the Community Development Finance team's lending and EQ2 portfolios so that the Bank's CRA lending and EQ2 facilities are managed prudently and in line with the values of First Citizens Bank. In addition to portfolio management oversight, the Director is responsible for training and nurturing the careers of VP's and Associates on the Portfolio Management Team to encourage service excellence, long-term thinking and powerful results in team member performance and positive client experience.

• Direct Report Oversight & Training: Manage the work of portfolio management staff directly reporting to Director; assign specific duties and ensure adherence to quality standards, deadlines, and proper procedures. Provide ongoing support to, training and career development mentorship of a team of 3-5 direct reports with varying degrees of portfolio management experience. Oversee staff members' job performance on an annual basis and recommend appropriate professional development opportunities to enhance engagement and performance.
• Loan Management Policy Development & Implementation: Coordinate the development and/or revisions of portfolio management and interdepartmental policies, procedures and agreements to ensure compliance with regulatory process and ensure consistent and accurate team member execution of policies.
• Construction Management: Oversee Portfolio Management VP and Associates' management of the construction loan disbursement process, in collaboration with Loan Operations Officers, by reviewing and approving monthly draws, monitor covenant and reporting compliance, and track construction completion progress through regular attendance of payment draw meetings and sponsor communication.
• Portfolio Management: Monitor client's operating performance and financial conditions to proactively identify credit issues and opportunities. Recommended risk ratings of projects and sponsors to senior management based on Annual Reviews. Problem loan management: presented underperforming loans in written form and verbally to senior management, interfaced with external clients to encourage improved loan performance, and underwrite or oversee VP or Associate unwriting of moderate to complex credit extensions and modifications. Prepare, or oversee VP's or Associates in the preparation of portfolio report, quarterly covenant confirmations, Criticized Loan packages.
• Credit Exams/Audits: In partnership with Director, Loan Operations, lead preparation of files and reports for internal audits and external exams. Coordinate with representatives of internal and external credit exam and audit parties to ensure all questions are address. Create and implement any necessary remediation plan and/or framework to encourage continuous improvement and monitoring.
• Systems Design & Integration: Provide leadership and vision in the design and implementation of the integration of different loan management systems across the First Citizens Bank organization. Partner with technology business partners to identify portfolio management-related business and operational challenges and discover and implement solutions to ensure accessible and seamless employee systems access experiences to enable high level team member performance.
• INTERNAL COLLABORATION - participate in meetings, trainings (inclusive of bank required compliance courses), Bank-sponsored community events, and other duties as assigned by management.
• STRATEGIC PLANNING - collaborate with Head of Community Development Finance and CRA Officer to formulate CD Lending strategy for the CRA Plan. Engage with internal stakeholders to facilitate cross-sell opportunities.

The base pay for this position is relative to your experience but the range is generally $175,000-$200,000 per year.  This position is eligible for variable compensation, which may be in the form of incentive, bonus, or commission pay. First Citizens offers a competitive, comprehensive benefits program which you can review here: https://jobs.firstcitizens.com/benefits

QUALIFICATIONS

Bachelor’s Degree and 10 years of experience in Finance including commercial real estate, asset management or portfolio Management. 

or

HS Diploma and 15 years of experience in Finance including commercial real estate, asset management or portfolio Management. 

Additional Requirements:

Community Development Finance

Affordable Housing Lending

Experience creating Excel financial models and spreadsheets

Preferred Qualifications:

MBA, MPP, MPA

Urban Policy Experience

Commercial Mortgage Banking Experience

Working knowledge of applicable federal/state banking regulations

Knowledge of commercial credit products, concepts, processes, and functions