Director / VP of Credit

For over a decade, PACE Equity Finance has funded commercial real estate projects in innovative ways, providing better financing for better buildings. We’ve funded projects across the U.S., enabling energy-efficient commercial development totaling over $2.7 billion while eliminating over 1.2 million metric tons of carbon emissions. PACE Equity Finance offers capital funding and project support that allow customers to improve returns while lowering carbon emissions, intelligently meeting the demands of today's consumers and tomorrow's building requirements. We put the customer at the center of all that we do.

About the Role

This hire will lead the underwriting efforts for PACE Equity Finance, focusing on ensuring the highest credit quality, underwriting standards, and investment committee governance. The role serves as the firm’s internal authority on credit-driven structuring and underwriting strategy, partnering closely with Originations, Capital Markets, and Executive Leadership. This individual will lead credit review at the Investment Committee level, present to Committee members, oversee portfolio performance and emerging risks, and mentor a growing team of underwriters.

The role requires deep experience in underwriting complex, non-standard commercial real estate debt and navigating sophisticated capital structures. It offers the opportunity to expand responsibilities, including a potential seat on the Investment Committee, subject to credit and team performance. This role is ideal for a candidate with deep commercial real estate experience, strong analytical rigor, and the leadership presence to shape credit culture in a fast-growing, mission-driven organization.

Responsibilities

• Credit Leadership & Governance
  • Own and uphold credit integrity, risk governance, and overall investment quality across the portfolios.
  • Lead credit review and present loan proposals to the Investment Committee, recommending structures, terms, and pricing to mitigate credit risk.
  • Provide independent approval, conditional approval, or decline recommendations consistent with credit policy and approval limits.
  • Ensure accurate risk ratings for individual transactions during committee reviews.
  • Create, update, communicate, and enforce lending and credit policies and procedures to improve efficiency and minimize risk.
  • Serve as the internal authority on credit-driven structuring solutions and risk mitigants.
  • Maintain deep awareness of industry trends, economic conditions, regulatory considerations, and competitive factors.
• Underwriting & Structuring
  • Utilize excellent credit analysis and financial modeling skills to structure new transactions.
  • Underwrite complex, non-standard CRE transactions including CPACE, mezzanine, bridge, construction, preferred equity, and specialty finance.
  • Analyze and structure transactions involving complex capital stacks (e.g., HTC, STC, NMTC, TIFs, layered incentives).
  • Clearly articulate risks, mitigants, downside scenarios, and stress outcomes to internal and external stakeholders.
  • Partner proactively with the Originations Team to balance risk, reward, and execution certainty.
• Portfolio Risk Management
  • Monitor portfolio performance, concentration exposure, and emerging credit risks.
  • Prepare and share reporting on credit trends, loan quality, and growth patterns with senior leadership and stakeholders.
  • Identify early warning indicators and recommend proactive risk mitigation strategies.
  • Support portfolio surveillance, amendments, waivers, and restructurings as needed.
  • Take on special projects, gather data, and prepare ad hoc and recurring reports for senior management and other stakeholders.
• Leadership & Talent Development
  • Mentor, develop, and coach credit and underwriting professionals.
  • Provide leadership through strong communication, delegation, and decision-making.
  • Foster a culture of accountability, analytical rigor, and continuous improvement.
  • Act as a senior thought partner to leadership on credit strategy, product evolution, and risk appetite.

Requirements

• Experience & Expertise
  • Minimum of 6+ years of experience in commercial real estate credit and underwriting.
  • Extensive experience underwriting complex, non-standard CRE debt structures.
  • Proven ability to lead credit decisions and provide independent, well-defended viewpoints.
  • Strong working knowledge of credit agreements, loan documentation, and negotiated deal structures.
  • Demonstrated experience creating and enforcing credit policy and risk frameworks.
• Skills & Capabilities
  • Excellent credit analysis and financial modeling skills.
  • Strong organizational and time management skills, with the ability to manage competing priorities.
  • Ability to clearly communicate complex risks, structures, and mitigants in a concise, executive-level manner.
  • Exceptional verbal, written, and interpersonal communication skills for effective training, document interpretation, and stakeholder interactions.
  • Proficient in standard business software including word processing, spreadsheets, and presentation tools.
  • Strong judgment, intellectual curiosity, and comfort operating in ambiguous, fast-moving environments.
  • Capable of resolving complex problems in non-standard situations.
  • Proven ability to mentor, train, and develop less experienced team members while ensuring quality control and optimal resource allocation.
  • Experience with planning, staffing, training, and performance monitoring responsibilities.

Qualifications

• Bachelor’s degree in Finance, Accounting, Business, or a related field (required).
• Advanced certifications (e.g., MBA) a plus but not required.

Benefits

• Medical, dental, and vision insurance.
• Health Spending Account with employer contribution.
• Life Insurance and Short-Term and Long-Term Disability Insurance.
• 401(k) eligibility on the first day of the month following the date of hire – 100% match up to 5%.
• Parental leave for all parents.
• Caregiver benefits.
• Tuition reimbursement.
• 11 paid company holidays.
• Paid time off.
• Free parking at our downtown Milwaukee office.
• Employee Assistance Program.
• Work from home one day per week.