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MassDevelopment

Vice President of Commercial Lending – Greater Boston Region

About MassDevelopment:

Massachusetts Development Finance Agency (MassDevelopment), the state’s development finance agency and land bank, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth. During FY2021, MassDevelopment financed or managed 416 projects generating investment of more than $1.86 billion in the Massachusetts economy. These projects are estimated to create or support 6,578 jobs and build or preserve 1,909 housing units.

Why join our team?

MassDevelopment is committed to achieving three goals: stimulating business, driving economic growth, and helping communities across Massachusetts. Join our team of dedicated professionals to help drive our mission and make a meaningful impact in the communities we live and work in. MassDevelopment fosters a diverse and inclusive workplace and encourages all qualified applicants, including minorities, women, protected veterans, and individuals with disabilities, to apply.

Our total rewards package offers many generous benefits, including:

  • Premium Medical and Dental Coverage
  • Employer Contributions to Retirement Savings Plans
    • 7.5% employer contribution into a 401(a) Defined Contribution Plan; 457(b) (with employer match up to 5%)
  • Flexible Spending Accounts (FSAs)
  • Employer-Paid Short- and Long-Term Disability
  • Paid Parenting Leave
  • Paid Time Off
  • 12 Paid Holidays
  • Fitness/Wellness Reimbursement
  • Tuition Reimbursement
  • Matching Gifts
  • Transportation Reimbursement
  • Variety of Hybrid Work Opportunities

Take the next step in your career!  

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Job Summary:

MassDevelopment is accepting applications for a Vice President of Commercial Lending – Greater Boston Region in our Lending Department. Due to COVID-19, this position will be 100% remote to start until normal operations are resumed at which time the position will be located in our Quincy office. 

Under the general direction of the Senior Vice President of Lending, the Vice President of Commercial Lending originates, evaluates, underwrites, negotiates, and prepares loan and mortgage insurance guarantee requests for approval within the agency. Upon approval, the Vice President of Commercial Lending follows loans and mortgage guarantees through commitment, documentation, and closing. The position is responsible for loan servicing and relationship management of assigned borrowers, as well as for marketing the loan products of the agency and cross-selling other agency products.

Essential Functions: 

  • Evaluate and analyze credit worthiness of loan and guarantee requests.
  • Evaluate the quality and capacity of development teams and developers, architects, and contractors for construction loans.
  • Negotiate and structure loan and guarantee requests with potential borrowers.
  • Underwrite and prepare loan and guarantee presentations for approval to the credit committee and the Board of Directors for approval as needed.
  • Follow approved loans through commitment, documentation, and closing, ensuring all terms and conditions of approval have been met, including loan documentation that is consistent with agency policies, procedures, and terms and conditions of approval.
  • Review borrowers’ requests for loan and construction advances, ensuring terms are accurate and consistent with loan documentation. Address and resolve problems that may arise in the approval, commitment, documentation, and closing phases.
  • Work with other agencies and banks to promote lending through participations, guarantees, and co-lending arrangements.
  • Establish and maintain a calling program with various banks, bankers, agencies, and other referral sources.
  • Represent the agency at events, including speaking engagements and tradeshows. 
  • Maintain loan system, updating pipeline for new and existing relationships and ensuring accurate portfolio information.
  • Manage regional portfolio of existing borrowers and perform annual reviews of all assigned accounts. Monitor loan portfolio and maintain satisfactory credit information and files, ensuring timely financial information as required. Monitor for covenant compliance and accurate risk rating assessment. Identify and respond as appropriate to changes in borrowers’ financial condition, including working with borrowers to develop and achieve resolution.
  • Cross-sell other agency products.

Minimum Qualifications:

  • Bachelor’s degree.
  • Five years of work experience in commercial lending or mix of education and experience.
  • Excellent analytical and problem-solving skills.
  • Excellent verbal and written communication skills.
  • Exceptional time-management skills.
  • Working knowledge of loan operations and strong documentation skills.
  • Proficiency in Microsoft Word and Excel.
  • Success working in a team environment.
  • Relationship-management and business-development skills.
  • Ability to travel independently throughout the Commonwealth to attend various functions and meetings with borrowers.

Preferred Qualifications: 

  • Bachelor’s degree in finance, accounting, or business administration.
  • Five years experience in any combination of business lending, commercial lending, commercial real estate lending, or construction lending.
  • Formal credit training.
  • Bilingual a plus. 

Equal Opportunity Employer

MassDevelopment is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, sex, color, religion, national origin, ancestry, age over 40, protected veteran status, disability, sexual orientation, gender identity/expression, marital status, or other protected class.

This posting remains open until filled.  

Interested candidates should click on the link below to apply:

Apply here