OFN's core mission is to align capital with social, economic, and political justice. We seek qualified candidates committed to this mission and to upholding OFN's standards for excellence. OFN is currently hiring for the following staff positions. Internships are also available - click the link at right.
If we don't currently have an open position in your area, you may submit a Resume.
President/Chief Executive Officer
The President/Chief Executive Officer (CEO) of OFN leads and directs the organization to maximize its effectiveness in providing real and substantial value to its Members and positive impact upon underserved communities around the country.
Primary duties and responsibilities include:
- Leadership—A skilled communicator, the CEO will be equally comfortable inspiring the OFN staff and a truly diverse national membership to achieve their shared vision. The CEO must be an equally adept influencer given the important role of funders, investors, and policymakers to work of members. They will understand and appreciate the geographic diversity and differences in capital needs and opportunities inherent in a national membership organization.
- Vision & Strategy—An entrepreneurial pragmatist, the CEO must present a strategic roadmap that outlines to the membership how the CEO will advance the vision of OFN for the industry.
- Advocacy—Works extensively with elected officials at the national, state and local level to develop policies that advance the CDFI industry.
- Community and Public Relations—Assures the organization and its mission, programs, products, and services are consistently presented to convey a strong, positive industry image to relevant stakeholders. • Outreach/Collaboration—Partners with government, corporations, foundations, banks, and other opportunity investors to drive change and provide opportunity in disinvested communities.
- Governance—With the chair and other officers, leads, enables and supports the Board of Directors in its governance responsibilities.
- Program, Product and Service Delivery—Oversees all aspects of OFN products and services, including structure, process, delivery, and quality to a diverse set of stakeholders.
- Financial, Tax, Risk, and Facilities Management—Recommends yearly budget for Board approval and prudently manages organization's resources to achieve priorities. The CEO will have fiscal responsibility for an annual operating budget of $15 million, and Total Assets of $140 million, plus off-balance sheet assets of another $500 million.
- OFN Team—Recruits, builds, and directs effective teams of professionals to advance the mission of OFN. The CEO leads a staff of 42 committed and highly skilled professionals in offices in Philadelphia and Washington, DC.
The ideal candidate will have at least seven years of experience as a CEO or in a very senior leadership position in a diverse membership organization or another highly complex organization with a diversity of stakeholders. The CEO will bring extensive experience and demonstrated success across multiple dimensions including: political and governmental affairs; public relations; financial management; and personnel management. Experience within the finance industry is strongly preferred.
The CEO will additionally have demonstrated decisive management abilities, have exceptional oral and written communication skills, will be well-organized, and possess strong business ethics.
The successful candidate will also have a demonstrated commitment to working with underserved communities.
Other important areas of focus will be:
- Seamless leadership transition to ensure continued service to members, focus on priorities, and sound fiscal management. Must be a collaborative leader who is inclusive of diverse viewpoints throughout their decision making process.
- Carrying out a broad mission and vision that incorporates and unifies the diverse OFN membership. Driving partnerships across a broad swath of organizations to move OFN’s membership forward – a true connector that can innovate with external stakeholders.
- Creatively tapping into greater streams of capital both private (impact investors, social enterprise, family offices, etc.) and public for OFN’s Members to further the mission of providing affordable financing to all.
- Development of sound relationships with key constituencies including the board, leaders from CDFIs of all sizes, and key federal and state stakeholders.
- Successful management of OFN staff, ensuring a positive working environment and cohesiveness around operational goals and objectives.
- Implementation of an aggressive strategy to enhance the industry’s public image and advance political and policy objectives.
- Enhancing brand awareness of OFN’s mission to the public more broadly, embarking on a campaign to brand OFN as a critical part of creating a more equitable and inclusive financial market. And, ensuring the marketing strategies promote OFN’s ability to raise additional funds.
- Effective representation of the OFN before all key government bodies, the media, and the public on priority issues.
- Development and execution of a Member adopted strategy, with agreement on a shared vision and an outline of the priority issues OFN wishes to tackle.
- Successful leadership of all OFN activities and key events.
- Execution of a formal budget review and three-year forecast. And, to the extent needed, successful implementation of appropriate budget modifications with Board collaboration and approval. Very fiscally strong, and a good steward of resources.
Interested parties should submit their resume here.
Position Summary and Essential Functions:
This position is primarily responsible for assisting the Vice President, Loan Operations in the administration of OFN’s existing loan portfolio and OFN’s Bond Guarantee Loans. Such assistance will include compliance analysis, database management, file maintenance, and recordkeeping.
General Loan Administration responsibilities include but are not limited to:
- Prepare, collect and coordinate loan documentation and internal funding requests.
- Coordinate and implement the on-boarding of new loans and modifications to existing loans.
- Prepare, and coordinate loan commitment and closing documentation, ensure closing conditions are met and initiate the funding for each loan closing.
- Document all modifications and renewals and share with other internal departments as required.
- Prepare timely submissions of internal and external departmental reports.
- Assist with the implementation of a Loan Origination/Servicing/Accounting System.
- Review quarterly interest payments from accounting for accuracy.
- Prepare and review invoices for loans and asset management.
- Preserve, maintain and update borrower files and legal documents as needed.
- Assist other financial services team members on projects or deliverables, as requested by the VP, Loan Operations.
Bond Guarantee Program Responsibilities include but are not limited to:
- Support the preparation and submission of the Bond Guarantee Program application via collection, organization and remittal of financial documents.
- Review and coordinate documents related to Eligible CDFIs’ requisition of Bond Funds, payment oversight of the Bond and Bond Loans, management of Bond Loan collateral, and Eligible CDFI and OFN compliance with Bond Guarantee Program requirements.
- Review and coordinate documents from Borrower regarding Loan Requisition/Advance requests for completeness and compliance with the Bond Loan legal documents, regulations, and Secondary Loan Requirements.
- Ensure proper administration of all Secondary Loan documents by the Eligible CDFI including the creation and perfection of required security interests and liens on Secondary Loans. Perform first level review of the performance, replacement and removal of Bond Loan Collateral and ensure Non-Performing Collateral is replaced in a timely fashion. Ensure the Eligible CDFI maintains the required amount of collateral per Bond Loan legal documents.
- Review Escrow Agent activities and the custody of Secondary Loan documents held by the Escrow Agent.
- Review, coordinate and test for compliance with covenants of the Eligible CDFI per the Regulations and Bond Loan legal documents.
- Track and submit monthly, quarterly and annual reports to the CDFI Fund to support compliance with the terms and conditions of the Bond documents via database management systems.
- Process documentation as needed to declare Events of Default under the Bond Guarantee Program and initiate remedies when necessary.
- Bachelor’s Degree or 5+ years direct work experience in lieu of degree required.
- 1-3 years experience in lending markets that have similar characteristics to the loans of OFN, and/or title or mortgage industry experienced required.
- Experience in loan documentation, preparation and review preferred.
- Experience in lending to financial and /or nonprofit institutions preferred.
- Experience in multi-party lending structures, with borrowers, lenders, banks and servicers and backup servicers preferred.
- Experience with Quality Control Audits a plus.
- Ability to understand loan documentation is required.
- Ability to review the work of other partners/subcontractors is required.
- Experience in nonprofit or small office environment a plus.
- Knowledge of accounting or lending practices required.
- Superior written and verbal communication skills required with emphasis on clarity, conciseness and relevance.
- Ability to understand and modify financial statements is preferred.
- Superior interpersonal skills and ability to work well with diverse constituents is required.
- Knowledge of and commitment to community development preferred.
- Proficiency with MS Office and database software is required.
- Ability to work independently or in team environment as required.
- Ability to manage multiple tasks effectively and efficiently under moderate supervision.
- Some travel required (<10% of time).
- No extraordinary physical requirements beyond ability to travel.
- Job involves normal physical requirements for an office position.
Interested parties should complete an application and submit their resume and letter of interest at: https://www.theapplicantmanager.com/edit_position?pos=OF118
Application deadline: October 7, 2016
Search: Associate, Financial Services
Opportunity Finance Network
620 Chestnut Street Suite 572
Philadelphia, PA 19106
Each summer OFN offers several internships across the organization. Our program is designed to give interns work experience in their field of interest. It also introduces them to the opportunity finance industry and the transformative work CDFIs do in low-income communities across the country.
Available Summer 2016 Internships
All OFN 2016 Summer Internships have been filled. Visit our Internships page for more details.