Chief Impact Banking Officer

About Locus

Locus (formerly VCC Social Enterprises) partners with communities where the capital system is not working to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving communities. A capital system that centers community input and impact is essential to making this a reality. Locus is a nonprofit holding company regulated by the Federal Reserve. Locus is the parent organization for a family of social enterprises, which includes Locus Bank, Locus Impact Fund, Locus Capital, and the Community Investment Guarantee Pool, or CIGP. Locus has generated over $2 billion dollars in total impact in local communities to create jobs, energize places, and promote an enhanced quality of life. With offices in Christiansburg and Richmond, Locus offers innovative and flexible financing tools and professional advisory services to individuals and organizations in low-to-moderate income and underserved communities. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors, along with personal and business checking, savings, and certificate of deposit accounts. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org.

Position Overview: 

The Chief Impact Banking Officer (CIBO) reports directly to the President/CEO of Locus and is responsible for the growth and management of the loan and deposit portfolios for Locus Bank and loan portfolio for Locus Impact Fund, and for leadership/oversight of the Capital Region Small Business Development Center (SBDC). Working with the Credit Risk Management team, senior management, lenders, External Affairs team and operations team members, the incumbent will be primarily responsible for loan and deposit production goals, identifying new market needs, representing the organization externally with community and government officials, and leading a team of impact financial professionals toward achievement of corporate impact and growth goals. The existing loan portfolio is comprised of small business, commercial real estate (primarily community facilities and affordable housing), and climate loans. This is a hybrid-remote position. Candidates will be required to work in office on occasions from either our Richmond or Christiansburg offices.

Essential Duties

Impact Lending Leadership – In partnership with the Chief Credit Officer, the CIBO will lead several teams of lending officers on market calling plans, pipeline management, structuring of new loan requests and managing existing credit relationships in adherence with loan policy. This position does not have delegated single signature lending authority – lending authority is in the credit side of the business. This position will also work with External Affairs and the CFO to identify credit enhancement opportunities at foundations and government funding sources to create growth and impact strategies. The CIBO will also provide oversight and develop strategies to leverage the business advisory services offered by the Capital Region SBDC to grow small businesses and to help support Locus’s deep-impact lending initiatives in the region. The teams led by this Executive are the primary customer relationship managers for credit, deposit and business advisory services and the delivery of excellent customer service. Additionally, this team represents the organization at community/industry functions across the various lending focus areas of Locus.

Deposit Sales Leadership – The CIBO will lead the Deposit sales strategy of Locus, which is responsible for new customer development and acquisition, relationship management, alignment of product offerings to customer needs, and pricing of products and services to achieve funding and profitability goals. Locus deposit products are designed to attract impact investors and support the lending function. The Deposit team and the External Affairs team share deposit goals each year.

Regulatory, Policy and Impact Compliance – The CIBO will be responsible for working in partnership with the compliance officer to ensure the organization’s lending and deposit practices comply with approved company policies and regulatory requirements including but not limited to; flood determination requirements, commercial real estate concentrations, loan-to-value requirements, legal lending limits, Reg E, Know Your Customer, Anti-Money Laundering, and all other applicable loan/credit and deposit related regulatory guidelines to which the organization is subject. Additionally, Locus tracks community impact of all relationships and reports results to funders. This group is responsible for imputing data for these reports with each customer relationship.

Credit Administration – The CIBO will support the Chief Credit Officer and credit team with ongoing loan reviews and administration of loan portfolios as needed. In addition, and in partnership with the Chief Credit Officer, this position will prepare quarterly reports on loan and deposit production, pricing and risks for the board of directors.

Executive Staff – This position is part of the executive team of Locus and will be expected to lead the strategic plan execution in partnership and collaboration with the other executive staff. Executives will develop new business opportunities for board consideration, execute on approved strategies, lead, and manage across teams as needed and appropriate, and actively engage in the success of the company and its community impact goals, while consistently demonstrating the organization’s core values of accountability, integrity, collaboration, service excellence and leadership excellence.

Experience/Education/Certifications:

• Master’s degree (or equivalent experience) in business administration, public administration or related field.
• A minimum of 7 years of experience in diverse leadership roles, driving and implementing revenue growth.
• Relevant work experience of at least 10+ years in a commercial loan and deposit sales leadership in a regulated financial institution
• Preference given to candidates who also have community development lending credit experience, with a bank or community development financial institution.
• Credit training (formal and on-the-job) at a commercial bank, or training at a community development financial institution known for its credit risk acumen.
• Must have strong banking skills developed in a regulated environment and should be experienced in commercial real estate lending, preferably including affordable housing and historic tax credits, business credits and commercial deposits. Additionally, a background in solar and climate credit issues is a plus.
• Experience with loan, legal and collateral documentation, and compliance. Experience with deposit product sales and delivery, including compliance and online banking functions.
• Demonstrated ability to drive innovation across areas of responsibility.
• Proven track record of growing revenue through new-product development.
• Significant experience in general management and P&L supervision
• Experience working within a CRM such as Salesforce.
• Ability to craft and execute business strategy effectively.
• Demonstrated experience as a strategic thinker and proficient decision maker.
• Strong experience leading, supervising, and motivating a team of investment/risk professionals.
• Physical/Sensory Demands: Fast-paced working environment, requiring quick decisions within areas of responsibility.

Computer/Technology:

• Excellent Word, Excel, and Windows file management skills mandatory.
• Strong technical experience with Salesforce or other CRM tools.
• Demonstrated web research skills.
• Familiarity with Outlook or similar network-based email and calendar software.
• Extensive computer usage and Microsoft Teams communication.
• Must be able to work independently in a stable remote environment.
• Access to high-speed internet bandwidth and reasonable proximity to Locus or a major metropolitan airport.

Communication:

• Ability to communicate verbally across all levels of the organization in a clear, concise and confident manner.
• Ability to write accurate, clear and organized communications, incorporating a range of information and analysis. Ability to document workflow and procedures.

Compensation and Benefits

• $230,000 - $250,000 annual salary, depending on skills and experience
• Bonus opportunity if bonuses are paid in any given calendar year 
• 20-days of PTO per year 
• 11-Paid holidays per year
• Medical, dental, vision, short- and long-term disability insurance
• 401k savings plan with employer match
• Life Insurance
•  This is a hybrid-remote position. Candidates will be required to work in the office on occasion from either our Richmond or Christiansburg office.

EEO Statement

Locus is an Equal Opportunity Employer. Locus does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or family status, national origin, non-job-related disability, or status as a veteran.