Director, Capital Investment, New York State
The Primary Care Development Corporation (PCDC) is a nonprofit organization dedicated to expanding access to quality primary care to improve the health of families and communities, reduce disparities and lower healthcare costs. PCDC was founded in 1993 to address a critical lack of access to primary care in New York City’s underserved communities, and has since expanded its reach and services throughout New York and across the United States.
The organization has three primary operating divisions: the Capital Investment group, the Performance Improvement Practice, and the Public Affairs and Policy division. These three operating divisions collaborate closely to create and maintain a synergy that is directly responsible for PCDC’s leadership position in the market and industry. PCDC is governed by a distinguished 24 member Board of Directors and receives strategy and policy advice from an equally distinguished 14 member Leadership Advisory Council.
The Capital Investment group at PCDC is one of the leading non-profit, federally-certified Community Development Financial Institutions (CDFI) in the US. As the first CDFI in the country specializing in primary care financing for low-income communities, PCDC provides capital to expand practices, build new facilities, and upgrade systems, and equipment, leading to better services for more patients. PCDC’s financing programs cover all stages of health center development, and include loans, tax-exempt bond and New Market Tax Credit financing. PCDC has financed over 100 health care projects to-date, providing and leveraging over $750 million in development costs. PCDC’s portfolio consists of $60 million in loan and bond investments and $92 million in NMTC, and $50 million in portfolios managed on behalf of third parties.
As PCDC’s Capital Investment work continues to grow with state-specific funds, PCDC is now seeking a Director, Capital Investment – New York State. The Director plays a central role in the growth and expansion of PCDC’s lending business, with primary responsibility for managing the due diligence, underwriting, and structuring of financing products and portfolios in the New York State market. The Director is responsible for marketing and sourcing business and for relationship management of clients and partners. In addition, the Director is responsible for the management of existing and emerging programs developed to support borrowers in New York State. The Director maintains knowledge of local, regional and national healthcare trends, and applies that knowledge to support and inform the underwriting process and the development of new products. This position is part of an innovative and growing team, and reports to the Chief Lending Officer.
- Engage with clients to understand needs and develop financing solutions to meet those needs.
- Conduct due diligence and analysis, underwrite, structure, and negotiate financing requests for loan, bond, and NMTC transactions, and third party delegated underwriting within appropriate and relevant credit policy guidelines. Work with borrowers through all stages of the financing process.
- Prepare and present proposals to loan committees. Prepare commitment letters and coordinate the loan closing process, including the preparation of loan documentation, in accordance with committee approvals.
- Develop and maintain knowledge of markets, particularly New York State, and maintain relationships with key stakeholders.
- Maintain a culture of quality customer service at all points of contact.
- Support efforts to research, identify, develop, and secure new lending opportunities to achieve business goals. Cultivate and maintain strong relationships with current and future borrowers and partners.
- Work closely with a variety of relationships across the organization, ensuring alignment with the Policy and Performance Improvement Practice to ensure the best outcomes for communities served by PCDC.
- Develop and apply knowledge of clients throughout New York State to identify evolving trends, and risks and opportunities.
- Identify and explore opportunities and cultivate relationships across the spectrum of community health providers throughout New York State, including behavioral health and primary care providers.
- Disseminate knowledge to inform Capital Investment practice and PCDC broadly, including working with staff across the organization. Support the process of bringing new products to market.
- Develop processes to support program delivery, including training and educating participants, application, underwriting, and asset management.
- Oversee the implementation and delivery of existing and emerging lending programs in New York State.
- Monitor and provide assistance with the maintenance of performance of program loans in the portfolio.
- Oversee management and compliance of statutory and regulatory requirements for funds held under PCDC’s management.
- Minimum of 7 years lending experience in commercial, commercial real estate and/or community facility financing, including underwriting and management of construction and permanent commercial loans and bond financing, preferably with a Community Development Financial Institution (CDFI) or other community development lender.
- In-depth knowledge of credit and lending products and services, as well as analysis of financial indicators related to credit management.
- Strong financial analysis skills, particularly with nonprofit accounting.
- Outstanding interpersonal and oral/written communication skills with community and client relationships as well as working well in interdisciplinary teams.
- Record of successful business development execution, ideally building effective relationships with primary care providers and communities throughout New York State.
- Experience building, refining or managing relevant financing programs; ability to make clear and persuasive written and oral presentations.
- Knowledge of or commitment to the healthcare industry and primary healthcare. Experience in health care financing and/or commercial real estate lending preferred.
- Knowledge of New Markets Tax Credits (NMTC) and CDFIs is preferred.
- Ability and willingness to travel up to 65% of the time; maintains a valid driver’s license.
- Bachelor’s degree required ideally in Business or Finance; Master’s Degree in Business, Finance or related field preferred.
Please upload a resume and thoughtful cover letter, outlining how your skills and experience meet the qualifications of the position and stating how you heard about this opportunity, both in Word or PDF format, addressed to Bill O’Brien, Chief Lending Officer. Applications will be reviewed on a rolling basis.
PCDC offers a competitive salary and benefits, commensurate with experience and skills.
PCDC is an equal opportunity employer.
About Commongood Careers
PCDC has partnered with Commongood Careers to conduct the search for a Director, Capital Investment – New York State. Commongood Careers is a mission-driven search firm that supports the hiring needs of high-impact nonprofits. With an approach that leverages robust talent networks, recruitment and search management expertise, and a deep understanding of our clients’ missions and cultures, we help organizations secure the talent they need to create greater social impact. Since our founding in 2005, Commongood Careers has led more than 700 searches at 275 organizations in 33 states, making us one of the most experienced and dedicated nonprofit search firms in the country. Learn more about nonprofit job opportunities at Commongood Careers.