Director Operations, Community Development Finance

First Citizens Bank hiring for Director Operations, Community Development Finance jobs in CA, US

The Community Development Finance (“CDF”) team of First-Citizens Bank & Trust Company (the “Bank”), is responsible for executing the Bank’s Community Reinvestment Act (CRA) and Community Benefits Plan (CBP) strategies through the origination and management of Community Development Loans and Low-Income Housing Tax Credit (LIHTC) equity investments. The Bank currently has a national portfolio of $2.8+ billion in committed investments that support the new construction or rehabilitation of affordable housing for low-income seniors, families, veterans, individuals with special needs or disabilities, and the chronically homeless, and we are embarking on a massive effort to expand the Bank’s commitments to low- and moderate-income communities. Note that the Bank operates under the Silicon Valley Bank brand, as a Division of First-Citizens Bank & Trust Company, in the majority of the Bank’s California affordable housing markets

The Director CDF Operations manages, leads, coaches, develops and trains the CDF operations staff on a variety of operational, loan processing, loan closing, loan servicing and quality control functions that are community development affordable housing/real estate loan, loan participation, loan pool and subsidy related.

Ensures Community Reinvestment Act (CRA) and Regulatory compliance for all CDF loan products. Participates in the creation and implementation of new loan and certain investment products, with CDF operational policy, procedure and process oversite responsibility.  Provides applicable CRA and Regulatory reporting to management.  Builds relationships with, and acts as a resource to internal and external partners (CDF, GLO, GDO, Credit, Treasury and Accounts Payable, client’s, attorneys, construction consultants/inspectors, title/escrow officers), while also partnering on bank initiatives with members of the SVB Compliance, Audit, Wine and Private bank teams.

• Coordinates and/or responds to all required Internal Audit, Compliance and external Fed exams for CDF, for satisfactory or better audit/exam results/achievement.
• Prepares/documents and closes one to three CDF’s EQ2 Investments annually, in accordance with Investment Committee approvals, legal counsel and Relationship Manager/VPs (RM/VPs) review; and provides quarterly manual payment servicing, coordinating same with Treasury.
• Provides all applicable CDF monthly and/or quarterly reporting to management and other internal teams, as needed or required, including loan operations pipeline, portfolio (active and paid off) for loans, AHP subsidies and CDF Investments, true loan sale/loan participations, HMDA, SOX, FDIC, 1098, Reg W (23A) reports.
• Oversees and manages the accuracy, completion and is responsible for the CDF Construction Loan, Loan Participation, Loan Pool and AHP 1 and 2-Step Subsidy, closing functions, as performed by the Operations Officer(s) and/or Sr Operations Officer(s), as new loan, loan participation, loan pool and subsidies (taxable, complex and/or tax exempt loan structures) are closed/booked and serviced/managed. 
• Regulatory/Compliance, Special Projects and Process Improvement, which includes training the entire CDF team

The base pay for this position is relative to your experience, but the range is generally $125,000 to $225,000 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.

High School Diploma/GED and 10 or more years of related managerial/supervisory experience in the originating/closing and servicing of multi-family residential and income/commercial real estate loans, specifically in the affordable housing/community development lending/banking field.

Preferred Qualifications: 

• Bachelor's Degree
• Paralegal Certification 

Other:

• Demonstrates excellent communication/listening skills in order to develop strong positive relationships when interfacing with internal partners, client/borrowers, city/agency co-lenders, legal counsel (internal and external), construction consultants/inspectors, title/escrow companies, and partner banks.
• Demonstrates excellent analytical skills with an aptitude for determining root cause or underlying circumstances and identifying solutions during the loan closing and loan servicing/disbursement processes.
• Exhibits a high level of attention to detail and strives for accuracy to ensure satisfactory audit/exam results.

Position will be based in California 

Occasional travel will be required between the St Helena and San Francisco offices; and on rare occasions may be required to the Tasman or Tempe offices.