Chief Lending Officer
3 weeks ago
Chief Lending Officer
Massachusetts Growth Capital Corporation - Charlestown, MA
Job Description:
Massachusetts Growth Capital Corporation (MGCC) is seeking a full-time Chief Lending Officer for its Commercial Lending Team. The position reports directly to the Interim President and CEO and works collaboratively with the Senior Management team. The primary function is to oversee the daily functions of the lending team and play a key role in the success of the lending strategy for MGCC.
Key Responsibilities:
- Manage, build, coach, and maintain a staff of Commercial Loan Officers and work closely with the credit department and Senior Management.
- Implement established lending strategies to promote growth and achieve acceptable levels of profitability in the loan portfolio, while minimizing credit losses, and ensuring proper risk/reward in pricing and structure.
- Ensure loan presentations are prepared and delivered timely for appropriate levels of approval and with a strong emphasis on loan presentation cohesion and adherence to MGCC’s loan policy and underwriting guidelines.
- Direct business development and relationship building activities within the lending team.
- Develop a strong sales culture within the lending team to ensure goals are met.
- Oversee preparation and presentation of quarterly loan reviews, ensuring annual site visits to borrowers are performed by lenders.
- Call and visit borrowers, prospects, and referral sources to promote and sell MGCC’s products and services.
- Schedule periodic meetings and presentations with banks and other lending partners with lending team.
- Help develop, drive, and monitor the lending team's annual and long-term business plans.
- Establish and maintain direct involvement with the lending team's customers.
- Ensure that the lending products and terms are competitive and that products are priced to assure acceptable levels of profitability to the organization.
- Monitor and minimize loan delinquencies, credit exposures, and charge-offs; work with the credit department and Workout Officer as needed to support the workout process.
- Actively participate in community and economic development organizations and functions.
- Oversee the loan closing process with the lending team and outside counsel.
- Oversee the approval process for the lending team including presenting writeups to approval committees.
Qualifications:
- Bachelor’s degree in management, finance, or accounting from a four-year college or university; 5-7 years applicable experience.
- Experience leading and managing a lending team is preferred.
- Experience with mezzanine financing is preferred.
- Strong and comprehensive knowledge of commercial lending (C&I and CRE), including a solid understanding of underwriting and credit.
- Excellent leadership/management skills.
- Strong verbal and written communication skills.
- Good organizational and time management skills; ability to prioritize tasks.
- Good delegation skills.
- Thorough knowledge of loan documentation.
- Ability to remain calm and efficient under pressure to meet requirements and deadlines.
About Us:
Massachusetts Growth Capital Corporation (MGCC) was established in 2010 under Chapter 40W of the Massachusetts General Laws, as an independent quasi-public agency that is overseen by the Commonwealth’s Executive Office of Economic Development. MGCC is a resource for small businesses seeking growth capital devoted to making nontraditional business loans and administering grants by working with financial institutions, community development corporations and non-profits. Through these collaborations the agency helps create jobs and foster economic growth across Massachusetts.
Why Join Us:
- Competitive salary and benefits package, including health, dental insurance, employer-paid life insurance, employer-paid vision insurance, employer-contribution retirement plan, paid vacation and a student loan paydown plan.
- Hybrid schedule (2 days/week in Charlestown, MA office).
- Opportunities for professional development.
- A collaborative work environment.
How to Apply:
Interested candidates should submit their resume and a cover letter detailing their qualifications and experience to jobs@massgcc.com. Please include "Chief Lending Officer Application" in the subject line.
MGCC is an Equal Opportunity and Affirmative Action Employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.
Job Type: Full-time
Benefits:
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Retirement plan
- Vision insurance
Schedule:
- Monday to Friday
Ability to Relocate:
- Charlestown, MA 02129: Relocate before starting work (Preferred)
Work Location: Hybrid remote in Charlestown, MA 02129
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