GENERAL FUNCTION:The Community Development Lending Director I (CDL Director) is responsible for originating Community Development Loans (CDLs) primarily LIHTC affordable housing developments, that qualify for CRA benefit across the Bank's footprint. The primary client focus of the CDL Director I will be Low Income Housing Tax Credit (LIHTC) Developers/ Sponsors of Affordable Housing. Responsible for profitable business development and monitor the quality of an existing portfolio of affordable housing loans within an assigned geographic area.
This individual contributor position is focused on the execution and delivery on the Bank's CDL Strategy. Individuals in this position must be skilled, experienced Community Development relationship managers with experience originating Low Income Housing Tax Credit (LIHTC) affordable housing loans, capable of independent activity including origination, structure, and execution of large complex Community Development transactions.
Responsible for achieving assigned CD Lending goals plus developing revenue growth through generation of loans, deposits, and cross-selling bank services to existing customer base. Services include financing and depository products related to real estate investments, income property, development, construction, etc. In addition to the high level of subject matter expertise with LIHTC, the CDL Director I must also be proficient with other Community Development structures including New Markets Tax Credits (NMTC); Historic Tax Credits; Tax Increment Financing (TIF); and Community Development Financial Institutions (CDFIs).
ESSENTIAL DUTIES AND RESPONSIBILITIES:- Develop and maintain important client relationships
- Produces and maintains profitable Community Development loan volume, with primary responsibility for cross-sell, return generation, and First Line of Defense.
- Qualifies prospects and takes lead in the development of new business opportunities from those prospects and existing customer base.
- Ensure that relationships are managed to profit potential for the Bank, develop profitable new business, cross-sell applicable 5/3 products and services an existing portfolio, and manage the sales process in a specific geographic area for commercial real estate loans.
- Assists in the development of new Community Development Directors, Associates, and Analysts.
- Develop intimate knowledge of all customers and businesses within the Community Development space.
- Develops good working relationships with peers and senior leaders in Credit Solutions; Credit Risk; Commercial Real Estate; Community Development & Social Responsibility and the rest of the organization.
- Underwrite credit requests and approve real estate loans within established lending limits or make recommendations on loans that require higher approval authority.
- Monitor, on an ongoing basis, information concerning customer performance, abilities, and industry to determine that loan is an acceptable risk.
- Ensure proper reporting, documentation, and review to determine that a loan is an acceptable risk.
- Identifies acceptable credit opportunities that have the potential of leading to significant non-credit sales.
- Responsible for the delivery of value-added financial solutions (ranging from traditional to customized products) to existing and prospective clients that will help them to enhance their business.
- Keep abreast of trends, developments and current regulations in the industry and in local markets.
- Coordinate all client-facing activities related to their clients, including credit support and other product areas (i.e. Treasury Management) partners
- Attend community and/or industry-specific forums, conferences and/or meetings in order to broaden relationship network and continually deepen knowledge of trends, practices, products and competitors.
- Participate in various community affairs and projects to promote the image of the Bank.
SUPERVISORY RESPONSIBILITIES:No direct reports, however incumbent may provide oversight and direction for Associates, Analysts and Commercial Leadership Program participants.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:- Undergraduate degree required, graduate degree preferred.
- 5+ years of experience in Banking, Finance or related field.
- 2+ years of Community Development Real Estate Lending experience and sales management preferred. This position requires a strong understanding of the Low Income Housing Tax Credit and the New Market Tax Credit programs.
- Formalized commercial credit training or equivalent credit experience required. Ability to structure complex financial situations that utilize tax credits and other incentives in the capital stack.
- Excellent interpersonal, written, and verbal communications, negotiation and analytical skills.
- Demonstrated sales and negotiation experience.
- Ability to handle and prioritize multiple tasks.
- Strong credit training required and underwriting skills preferred.
- Proven track record of success in working as a part of a team to originate, and close complex financial transactions.
- Ability to interact effectively with senior executives inside and outside our organization.
- Strong relationship building skills.
Community Development Lending Director
Total Base Pay Range 96,500.00 - 207,500.00 USD Annual
At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.
The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.
Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.
LOCATION -- Chicago, Illinois 60606
Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes - no matter how they are submitted - will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee.
