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The track record of today’s opportunity finance industry is impressive. All financing directly benefits low-income and low-wealth people to increase access to homeownership opportunities, affordable rental housing, thriving small businesses, and critical services such as childcare, healthcare, and education.

Do you want to develop innovative strategies? Combine your business acumen with an unwavering dedication to making a difference in people’s lives? Change the rules of financing? Make your impact and join the opportunity finance field.

To submit a job listing, please use our online form. To edit or remove a posting please contact info@ofn.org.

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Senior Accountant and Compliance Officer–P3 Portfolio National Development Council
New York, NY
Job Function: Accounting
Posted: February 15, 2017

Background:

The National Development Council (NDC) is one of the oldest national economic development non-profits in the country, headquartered in NYC, whose mission is to increase the availability of affordable housing and quality jobs through developing and implementing economic and community development strategies that increase the flow of capital to urban and rural communities. 

NDC undertakes our work through providing Technical Assistance, training and capacity building, and financing and development. In all areas, we bring resources to the implementation side of development projects through either technical advice or direct capital in the form of SBA loans, low income housing tax-credits (LIHTC), and new markets tax credits (NMTC).

In 1988, NDC expanded its mission through the creation of NDC Housing & Economic Development Corporation (HEDC). This model has allowed NDC, through HEDC, to lessen the burdens of government and promote economic development by designing, building, financing, operating, and maintaining buildings for government and not for profit Sponsors.  Since its inception, HEDC has developed 43 projects with total project costs exceeding $2.5 billion. Project types range from University Laboratories, Student Housing, Government use office buildings, Parking facilities and a Community Theater. The HEDC active portfolio consists of 20 projects. The majority of the projects are located in the Pacific Northwest and Northeast.

Position Summary:

This newly created position will be responsible for managing the reporting and compliance requirements of a wide-ranging P3 portfolio. This individual will work closely with the P3 asset management team and property managers to ensure the accounting and finance operations are working efficiently. The position will require occasional visits to the communities in which the projects are located. NDC’s expectation is that the candidate will work from NDC’s NYC office. The position will report directly to the Chief Financial Officer.

Responsibilities:

  • Ensure that quarterly and annual reporting requirements are met
  • Manage relationships with 3rd party accountants and auditors
  • Manage tax-exempt bond compliance and reporting
  • Provide support to the asset management team and project sponsors

Requirements:

Ideal candidates will have both a commitment to NDC’s mission, and a proven understanding of generally accepted accounting standards (“GAAS”) related to real estate transactions. CPA preferred. A bachelor’s degree in finance, accounting, business administration, public administration or related field, and a minimum of five years of experience in a similar position or combination of experience and education that result in the required knowledge, skills and abilities to perform the work. Preference will be given to individuals experienced with the compliance and reporting requirements associated with tax-exempt bonds. 

Compensation:

Excellent compensation package.  EOE.

How to Apply:

Email resume and cover letter to aennis@ndconline.org

Loan Officer, Project Finance Philadelphia Industrial Development Corporation (PIDC)
Philadelphia, PA
Job Function: Credit
Posted: February 14, 2017

Background:

PIDC is Philadelphia’s public-private economic development corporation. Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. We offer flexible financing products, a targeted portfolio of industrial and commercial real estate, and decades of Philadelphia-based knowledge, to help our clients invest, develop, and grow throughout the city of Philadelphia. 

Over the last 59 years, PIDC has invested financing and real estate resources into more than 6,900 transactions with a diverse range of clients, totaling nearly $15 billion in financing and more than 3,100 acres of land sales. These transactions have leveraged over $26 billion in total investment and assisted in retaining and creating hundreds of thousands of jobs. Its direct loan and managed third-party portfolio at year-end 2016 was nearly $590 million, representing 500 loans. For more information, please visit: www.pidcphila.com

Position Summary:

PIDC offers a wide range of financing products to businesses, developers, and non-profits of all shapes and sizes throughout Philadelphia. PIDC’s lending activity is managed by the Financial Services underwriting staff; guided by a risk rating system, and reviewed and approved by a Loan Committee comprised of PIDC Board members and outside advisors.  

All members of PIDC’s Finance Group are expected to contribute towards its five objectives, which are to:

  • Provide superior client service;
  • Meet or exceed PIDC activity, financial, and impact goals;
  • Support City’s policy objectives; 
  • Serve and support PIDC Market Development, Real Estate and Administration Groups; and,
  • Promote existing and identify new capital resources 

Responsibilities:

  • New business development and relationship management: Coordinate with PIDC’s Marketing and Business Development and Real Estate Teams to cultivate relationships with existing clients and prospects.  Develop a network of real estate developers / investors, nonprofits, and third party intermediaries (including bankers, NMTC consultants, and finance brokers) seeking capital for EB-5 financing, TIF, NMTC, subordinate term loan and bridge loans, and maintain primary relationships with existing private developer PIDC clients. 
  • Application intake, review and analysis: Schedule and attend preliminary prospect meetings and provide advice and guidance including indicative size and structure of financing; assemble application materials, and develop written credit report including project description, market and financial analysis
  • Approvals: Present credit report internally and to PIDC’s Loan Committee; obtain City and other governmental approvals for financing as needed including negotiation and preparation of forms or contracts in coordination with City, State and Federal officials.
  • Settlement: Manage financing settlement process including drafting of commitment letter, coordination of internal and/or external counsel, and negotiation of transaction terms with client. Prior to loan closing formally introduce the Portfolio Administration team as the primary contacts for disbursements, loan reporting, post-closing loan covenant monitoring and financial statement collection.
  • Administration of Resources: Proactively promote and monitor PIDC funding sources to meet annual disbursement goals.  Develop program expertise for all funding sources to include, but not limited to CDBG, EB 5, HUD, EDA,TIF’s and NMTC.  Work with the Director of Policy and Resource Innovation on applications, reporting requirements and other support, as needed.  

Requirements:

  • A Bachelor’s Degree with major course work in, economics, finance, accounting or a related field.   Master’s degree is desirable.
  • Proficiency in MS Office Suite and Sales Force, or other CRM.
  • Prior work-related experience with community development lending, New Market Tax Credits, EB-5, TIF’s as well as traditional and alternative loan programs is desirable.
  • Considerable related credit and financial analysis experience. Strong analytical ability.
  • Familiarity with financial statement presentation of for-profit and not-for-profit companies.
  • Strong oral and written communication skills.
  • Six to eight years loan sizing, creative deal structuring, negotiation and loan closing experience.  
  • Flexible, self-motivated and strategic thinker.
  • Capacity and desire to function in a high profile, public sector environment.  
  • Demonstrated leadership skills and the ability to take ownership of assignments.
  • A valid driver’s license. 

Must be a resident of the City of Philadelphia or willing to relocate within six (6) months of employment. 

Compensation:

Compensation commensurate with professional experience

How to Apply:

Interested candidates should submit a cover letter and resume electronically by Friday, February 24 to:

Mr. Marquis Upshur
Director, Human Resources
Philadelphia Industrial Development Corporation (PIDC)
mupshur@pidcphila.com

PIDC is an equal opportunity employer.

Senior Loan Officer Vital Healthcare Capital
New York, NY
Job Function: Credit
Posted: February 12, 2017

Background:

Vital Healthcare Capital (V-Cap) is an innovative social impact loan fund (CDFI) which finances quality care and good healthcare jobs in low-income communities across the U.S. V-Cap has a pipeline of high impact projects, $35 million in capital and a goal of growing to $100 million in 5 years.

V-Cap provides financing and technical assistance to help excellent safety-net healthcare organizations innovate and grow in a rapidly evolving healthcare sector.   V-Cap focuses on integrated and person-centered care for low-income and vulnerable populations, including the elderly, at-risk youth, people with disabilities, and people with behavioral health needs. V-Cap prioritizes healthcare organizations that enhance job quality and job skills for frontline healthcare workers. V-Cap provides flexible facility, bridge and business loans.  

V-Cap is headquartered in New York, but national in scope, with initial activity focused in MA, NY, CO, and CA.  For more information, visit http://www.vitalcap.org.

Position Summary:

The Senior Loan Officer will handle all aspects of evaluating and underwriting loans to community-based healthcare providers, including initial review, loan structuring, full underwriting and closing.  The position will also involve managing a portion of V-Cap’s loan portfolio.  The Position will report to the Chief Lending Officer (“CLO”) and will support V-Cap’s business development and lending activities across its footprint.  

Responsibilities:

  • Develop a deep understanding of the healthcare sector, including financial, market and regulatory issues required to successfully evaluate, underwrite and service loans.  
  • Under the direction of the CLO, assist business development staff to evaluate potential loan opportunities, and manage new and existing borrower relationships.
  • Under the direction of the CLO, evaluate,  underwrite and close new loans, including:
    • Perform due diligence review of potential borrowers, including detailed analysis of their financial statements, organizational capacity, proposed use of loan proceeds, market and regulatory environment.
    • Identify and mitigate key financial, organizational, market, regulatory and implementation risks of proposed loans.
    • Structure new loan proposals, including evaluating potential loan terms and preparing draft term sheets.
    • Prepare initial loan summaries and comprehensive credit memos, and present proposed loans to management and Loan Committee for review and approval.
    • Manage all aspects of the closing process, including working with outside legal counsel, reviewing closing due diligence and negotiating loan documents.
  • Manage a portfolio of existing loans, including reviewing financial, impact and other reporting, monitoring compliance with loan terms, handling loan modifications and workouts and conducting annual site visits.
  • Performing other related work as needed.

 

Requirements:

  • Master’s Degree in Business Administration, Finance, Public Health, Public Policy or related field, or B.A. plus equivalent experience.
  • 5-7 years’ of lending experience in community development finance, healthcare finance, commercial lending or related field.  Demonstrated underwriting experience required.
  • Demonstrated experience in structuring, underwriting and negotiating complex community development financial transactions, including balancing mission goals with solid underwriting judgement and risk mitigation.
  • Knowledge of the healthcare industry, business lending and/or formal credit training a plus.
  • An understanding of financial accounting is required. 
  • Strong analytic skills, including financial analysis, business planning or organizational assessment, and qualitative research.
  • Ability to identify, evaluate and mitigate risk.
  • Ability to think proactively and creatively to effectively solve problems. 
  • Strong interpersonal skills.
  • Ability to manage multiple tasks effectively to meet deadlines.
  • Strong verbal and written communication skills.
  • Must be highly motivated, able to work independently, with modest supervision, and collaboratively in a team setting.
  • Modest travel required.
  • Must demonstrate strong ethics in interpersonal relations.
  • Proficient knowledge of Excel, MS Word and Power Point.
  • Demonstrated passion for working in a mission driven organization with a commitment to affecting positive change in low-income communities.

 

Compensation:

Salary and benefits are competitive and commensurate with experience.

How to Apply:

To apply, please submit your resume, cover letter and salary requirements to recruiting@vitalcap.org, with “Senior Loan Officer” in the Subject line.  

Vital Healthcare Capital is an equal opportunity employer, is committed to inclusion, and and welcomes candidates from diverse backgrounds.

Western States Director of Community Healthcare Investments Vital Healthcare Capital
New York, NY
Job Function: Business Development
Posted: February 12, 2017

Background:

Vital Healthcare Capital (V-Cap) is an innovative social impact loan fund (CDFI) which finances quality care and good healthcare jobs in low-income communities across the U.S. V-Cap has a pipeline of high impact projects, $35 million in capital and a goal of growing to $100 million in 5 years.

V-Cap provides financing and technical assistance to help excellent safety-net healthcare organizations innovate and grow in a rapidly evolving healthcare sector.   V-Cap focuses on integrated and person-centered care for low-income and vulnerable populations, including the elderly, at-risk youth, people with disabilities, and people with behavioral health needs. V-Cap prioritizes healthcare organizations that enhance job quality and job skills for frontline healthcare workers. V-Cap provides flexible facility, bridge and business loans.  

This position can be based in California or Colorado. V-Cap is headquartered in New York, but national in scope, with initial activity focused in MA, NY, CO, and CA. For more information, visit http://www.vitalcap.org.

Position Summary:

The Western States Director leads V-Cap lending and product development in Western States, including California and Colorado.  This position develops and maintains relationships with prospective borrowers; sources, develops and performs due diligence for lending opportunities; and develops lending strategies to advance healthcare development in target markets. The Western States Director is responsible for cultivating V-Cap’s strategic relationships with healthcare organizations, funders and investment partners, healthcare policy makers and other thoughts leaders to make V-Cap a valued strategic and financial partner to some of the most impactful healthcare organizations in otherwise underserved communities.    

This is an ideal opportunity for a highly energetic, creative and skilled professional to join a great team, and have high impact on the health and economic well-being of low-income communities.

Responsibilities:

Responsibilities include, but are not limited to:

Business development:

  • Source transaction opportunities and maintain a strong loan pipeline through active networking with healthcare providers in low-income communities, healthcare and workforce advocates, advisory groups, and other healthcare stakeholders. 
  • Maintain and manage relationships with potential borrowers.
  • Develop opportunities into proposed transactions, including through consultation and technical assistance to potential borrowers.
  • Manage regional lending programs, including the Colorado Strengthening Primary Care loan program in partnership with the Colorado Health Foundation.

Loan screening and underwriting:

  • Evaluate lending opportunities, including fit with V-Cap’s credit and impact guidelines.
  • Perform initial due diligence review of potential borrowers, including detailed analyses of financials, organizational capacity, proposed use of loan proceeds, and market and regulatory environment.
  • Work with V-Cap’s credit team to structure loans, identify and mitigate risks, and obtain credit approval.

Program and product development:

  • Assess and identify capital constraints for healthcare providers in V-Cap target markets.
  • Collaborate with funders and industry stakeholders to develop capital solutions to support providers’ ability to grow and mature their services

 

Requirements:

The ideal candidate will possess the following qualifications:

  • Demonstrated passion for working in a mission driven organization with a commitment to affecting positive change in low-income communities.
  • 5+ years of professional work experience in community development finance, healthcare finance, commercial lending, or a related field.  
  • Strong analytic skills, including experience in financial or credit analysis.
  • Exceptional interpersonal skills, with the ability to develop strong relationships across a diverse spectrum of stakeholders
  • Strong written and oral communication skills, with the ability to represent to a diverse range of stakeholders.
  • Strong project management skills including initiative, creativity, attention to detail, and ability to manage multiple parallel workflows.
  • Ability to travel extensively as needed.
  • MBA, MPA, MPH or comparable advanced degree preferred, and education or training must include finance and accounting

Compensation:

Salary and benefits are competitive and commensurate with experience.

How to Apply:

To apply, please submit your resume, cover letter and salary requirements to recruiting@vitalcap.org, with “Western States Director” in the Subject line.  

Vital Healthcare Capital is an equal opportunity employer, is committed to inclusion, and and welcomes candidates from diverse backgrounds

Executive and Program Assistant Vital Healthcare Capital
New York, NY
Job Function: Other
Posted: February 12, 2017

Background:

Vital Healthcare Capital (V-Cap) is an innovative social impact loan fund (CDFI) which finances quality care and good healthcare jobs in low-income communities across the U.S. V-Cap has a pipeline of high impact projects, $35 million in capital and a goal of growing to $100 million in 5 years.

V-Cap provides financing and technical assistance to help excellent safety-net healthcare organizations innovate and grow in a rapidly evolving healthcare sector.   V-Cap focuses on integrated and person-centered care for low-income and vulnerable populations, including the elderly, at-risk youth, people with disabilities, and people with behavioral health needs. V-Cap prioritizes healthcare organizations that enhance job quality and job skills for frontline healthcare workers. V-Cap provides flexible facility, bridge and business loans.  

V-Cap is headquartered in New York, but national in scope, with initial activity focused in MA, NY, CO, and CA.  For more information, visit http://www.vitalcap.org.

Position Summary:

V-Cap seeks a resourceful, organized and energetic individual to provide executive and program assistance in an entrepreneurial and mission-focused organization. This is a great opportunity for an individual with strong drive to learn from and contribute to multiple aspects of a social impact fund, and to be part of an entrepreneurial team.

The Assistant will act as Executive Assistant to V-Cap’s senior leadership team, including managing scheduling, travel, preparation of materials, and meeting planning. The Assistant will also take on programmatic projects touching on V-Cap’s lending, impact assessment, and fund development activities.  Those projects draw on writing, presentation, research and data skills.  The successful applicant will demonstrate the ability to be a reliable contributor to support the rest of the V-Cap team, while bringing a well-rounded mix of skills to be able to be a versatile team contributor.  

Responsibilities:

Executive Support roles include:

  • Manage scheduling, travel and logistics for V-Cap’s senior leadership team.
  • Interact with outside individuals and organizations to schedule appointments, and make logistical preparations for meetings.
  • Maintain records and assist with contact management, including entering and updating data; safeguard confidential and sensitive information.
  • Provide administrative and operational support as needed. 
  • Create, format, and edit documents and presentations in a variety of formats.

Program Support projects examples include:

  • Research and draft descriptions of community healthcare projects that V-Cap is financing for circulation with V-Cap investors, and for use as source material for publicity.
  • Review social impact data from V-Cap borrowers, and preparation of reports summarizing how V-Cap’s investments are impacting health and jobs outcomes.
  • Compile information on community healthcare providers for use in V-Cap outreach to potential borrowers.
  • Assist in the preparation of grant proposals, reports to funders, and similar documents.

 

Requirements:

  • Bachelor’s Degree 
  • Previous work and/or volunteer experience that demonstrates the ability to be a valued performer in a team-based professional environment
  • Exceptional judgment and attention to detail; creative in managing competing priorities; excellent organizational and time-management skills
  • Excellent verbal and written communications skills, with an appreciation for nuance and relationship management when interacting with a variety of stakeholders
  • Ability to get things done efficiently and effectively, to thrive in a fast-paced environment, and to work independently as well as collaboratively, navigating a variety of working styles and personality types
  • Readiness to pitch in flexibly to make the team successful, from everyday tasks to more complex and knowledge based projects
  • Proficiency in and comfort with the use of various technology tools, including Microsoft Office (Excel, Word, PowerPoint, etc.) is required; familiarity with Adobe Acrobat Pro and database applications (such as Salesforce or other customer relationship management (CRM) platforms) strongly preferred
  • Experience supporting senior leadership or management is strongly preferred
  • One year minimum commitment required

 

Compensation:

Salary and benefits are competitive and commensurate with experience.

How to Apply:

To apply, please submit your resume, cover letter and salary requirements to recruiting@vitalcap.org, with “Executive and Program Assistant” in the Subject line.  

Vital Healthcare Capital is an equal opportunity employer, is committed to inclusion, and and welcomes candidates from diverse backgrounds.

President/CEO The Housing Fund
Nashville, TN
Job Function: Other
Posted: February 10, 2017

Background:

The Housing Fund (THF) seeks a dynamic, entrepreneurial leader to serve as its President/CEO. THF has a 20-year track record of financing affordable housing and neighborhood revitalization projects throughout Tennessee with a primary focus on the Middle Tennessee area. THF fulfills its mission by providing lending programs to low- and moderate-income individuals for home ownership, and to for-profit and not-for-profit developers working to meet the housing and community development needs of low and moderate income individuals and their communities. 

The Organization

THF is a not-for-profit Community Development Financial Institution (CDFI) located in Nashville, TN that was created in 1996 as a part of a community wide visioning effort, Nashville’s Agenda, that included affordable housing as one of its “21 goals for the 21st Century.” 

THF’s mission has evolved over the years. Its current work includes helping homeowners attain their first home, financing residential developments that provide affordable housing opportunities, lending for non-residential projects that benefit low to moderate income communities and loans for artists’ living and work space. THF will continue to assess new financing gaps that need to be filled that are consistent with its vision. Some of THF’s greatest areas of community impact to date include:

  • Loaned more than $25 million to over 4,000 first-time homebuyers for down payment assistance;
  • Loaned over $51 million to non-profit and for-profit developers for the construction and development of over 1,500 units;
  • Leveraged in excess of $456 million in private financing for the activities above; and
  • Responded to immediate community needs and opportunities, such as leading Nashville’s flood recovery efforts for homeowners impacted by a 500-year event in 2010, and writing and coordinating the Nashville consortium application for a $30 million Neighborhood Stabilization Program 2 (NSP2) Grant.

Strategic Thinking

THF’s growth and accomplishments have not come without some challenges over the years. Like most lenders, THF struggled to deploy its funds five years ago, but the challenges today are expanding the capitalization of its loan fund and efficiently managing a growing portfolio.
THF’s current strategic plan defined four specific goals:

  1. Be a creative leader in cooperatively developing housing and community development solutions.
  2. Use THF resources to give more people access to healthy places to live.
  3. Construct a sustainable financial model.
  4. Build organization strength to propel its shared vision.

The development of a new strategic plan will be a top priority for THF’s new President/CEO in his/her first year. The current strategic plan has led to:

  • Building a gross loan portfolio of $18.6 million;
  • Assisting 324 households through THF programs and services, with 46% having incomes below 80% MFI since 2012;
  • Originating community and housing development loans of $10+ million since 2012;
  • Updating systems and policies, and training new and reassigned staff to meet the programming requirements outlined in the Strategic Plan;
  • Increasing THF’s external presence and work with other community stakeholders to organize and implement more of a place-based neighborhood improvement strategy; 
  • Providing community leadership in researching and understanding housing issues; and
  • Identifying new products and services, as appropriate, to meet housing gaps and identified needs.

The Leadership Opportunity 

THF is ready for a new generation of leadership. The last several years have seen an increased urgency in the affordable housing and equitable neighborhood development conversations. The political climate is supportive of innovation and coalitions dedicated to expanding housing and community investments. A new leader will work in this larger context to update and refine THF’s strategic position, outline new partners and collaborators, ensure financial sustainability, and galvanize staff and board around a leading vision. There is broad consensus within the organization that THF is in an ideal position to grow its impact and expand its community leadership roles. This consensus has been built through a focused review process including both board and staff, led by an experienced Interim CEO over the past seven months. That Interim CEO will continue to provide leadership through the first half of 2017.

A 15-member board of directors governs THF, with its day-to-day business operations managed by the executive and a team of 9 energized and motivated staff. The organization’s annual operating budget exceeds $2 million with net assets of $10.5 million. More information on THF may be found at www.thehousingfund.org. 

Position Summary:

The President/CEO carries the full range of responsibilities typically associated with such a position. Reporting to the board of directors, the President/CEO’s responsibilities can be grouped in five major areas: organization leadership and management, strategic planning, resource development, management of loan portfolio and lending operations and community external relations.

Organization Leadership and Management

The President/CEO is the chief leader and administrator, with oversight responsibility for both program and management systems. The President/CEO will be an educator, motivator and coach—supporting staff in their roles as internal experts and community leaders. The position requires knowledge of the CDFI landscape and financial expertise to oversee growth and management of the lending and program portfolios. The President/CEO will outline and set a work culture that supports community impact, organizational integrity, leadership and cooperation. The President/CEO will manage the board and external partners with an eye toward community transformation and collective impact, and strive toward equity inside and outside of the organization.

The ideal candidate will have a wide knowledge of community development and/or CDFI related policies and best practices. The President/CEO will engage with regional and national thought leaders and align THF’s work with cutting edge practices and programs. The President/CEO will be a dynamic thinker and act to bring new ideas and solutions to bear on THF and the field at large.

Strategic Planning

The President/CEO will have a track record of strategic activation and alignment of people and resources toward public impact. Specifically, the President/CEO will work with board, staff and community partners to shape the organization’s direction and set annual lending and program benchmarks and measurable community impact. Specific expertise in strategic alliances, federal/state/local grants management, and program implementation are required skillsets. THF views strategic thinking and planning as an ongoing and adaptive process and needs a leader who thrives and embraces constant change. 

Resource Development

The President/CEO’s primary responsibility is that of developing diversified capital resources for the sustainable funding needs of the organization. The ideal candidate will have a clear track record of fund development through federal and state grants, private sector philanthropy and, optimally, corporate socially responsive investments. The President/CEO must demonstrate new thinking around revenue stability in the rapidly changing CDFI and lending market place and show a dedication to diversified program and administrative resource development. 

Oversight of Loan Portfolio and Lending Operations

As a CDFI, THF is a lending institution. The President/CEO has signature authority on loans up to $100,000, with all other loans being authorized by the Board. Primary responsibilities include overseeing the underwriting of new loans, and keeping THF’s loan products relevant in our market. The President/CEO works closely with the CFO and lending staff, in consultation with the Board loan committee to manage risk, ensure that lending guidelines are up to date and appropriate, and ensure that these guidelines are being followed.

Community and External Relations

The President/CEO is the chief spokesperson and public expert for The Housing Fund. The ideal candidate will have a successful track record of effective communication in diverse communities and cultural settings. The President/CEO must have a working knowledge of government affairs and be able to partner with the Mayor’s Office, City Council and state and federal agencies. A working relationship with private sector partners (financial institutions, not- for-profits and developers) is also preferred.  The President/CEO will be an articulate communicator who inspires action and motivates innovation in the community and in the CDFI industry. 

Responsibilities:

Top 12 – 18 month Priorities

The board has outlined the following priorities for the first 12–18 months of the incoming President/CEO’s tenure:

  • Review and assess the adopted strategic priorities in relation to the current city/state housing and community development context;
  • Identify 6-12 month targets for programs that will drive resource diversification and stability;
  • Review staff roles and responsibilities to support clear program and revenue priorities and lines of business;
  • Establish a clear “value proposition” for THF in the community and with key stakeholders; and 
  • Identify national or regional best practices, partnerships and alignments that should inform and support future work and products of THF.

Requirements:

Ideal candidates for this position will have a passion for housing and community development. The candidate should share THF’s commitment to help individuals and communities create and maintain affordable and healthy places to live and work. Qualified applicants must possess an undergraduate degree in a relevant field of study, with preferred management experience in a complementary community development corporation or not-for-profit organization. The ideal candidate will have 8–10 years in senior organization leadership and management including oversight of a comparable budget and staff (advanced degree may substitute for some years of experience) as well as demonstrated experience in the following:

  • Financing of affordable housing and community development projects, including working with organizations and individual borrowers;
  • Administering affordable housing and community development programs;
  • Cultivating funding relationships and raising private, public and foundation capital and operating support;
  • Managing and/or leading a diverse professional staff;
  • Demonstrating exceptional interpersonal and communication skills and a record of building and maintaining strong working relationships with internal and external stakeholders;
  • Developing and implementing a strategic plan or organization change management; 
  • Developing and/or directing the preparation of reports, industry studies and grant applications; and
  • Innovating, adapting and recognizing trends to keep the organization agile and responsive to new opportunities and requirements.

Compensation:

Salary is competitive and commensurate with qualifications and experience.

How to Apply:

To apply, email cover letter, vitae/resume, and salary requirements to: THF@raffa.com (email applications are required). For other inquiries, contact Dave Erickson-Pearson at dericksonpearson@raffa.com or 303-703-6165. 

Communications will be treated with confidence, and resumes will be accepted until the position is filled; however the active application period is now through March 31, 2017. Resume reviews begin immediately.

THF is an equal opportunity employer.

Community Development Credit Analyst Wells Fargo
Minneapolis, MN
Job Function: Other
Posted: February 9, 2017

Background:

Wells Fargo Community Lending and Investment (CLI) is an industry leader in offering debt and equity capital to organizations that provide economic development, job creation, and affordable housing in communities of need nationwide.

Position Summary:

CLI plays a key role in providing much needed lending capital to Community Development Financial Institutions (CDFIs) and as a Credit Analyst, you would support the team to underwrite and manage our national portfolio of CDFI borrowers. In this position, you will work closely with our senior relationship managers in reviewing and analyzing CDFI’s financial statements and conducting due diligence on loan portfolio performance, loan policies, management team, etc. You will also have portfolio management duties to monitor and manage the credit portfolio. This job represents a unique opportunity to combine background and skills in banking and finance with an interest in and commitment to nonprofits and community development.

Responsibilities:

  • Analyze borrower’s financial performance and capital structure by evaluating and spreading financial statements and projections.
  • Assess quality of loan receivables portfolio, loan policies and procedures, loan products, etc.
  • Conduct annual credit reviews and compliance certification.
  • Assist in early identification, classification and management of impaired credits (including the preparation of downgrade memos).
  • Assist relationship managers with the underwriting and approval of new deals.
  • Perform portfolio management duties such as maintaining customer database and files, monitoring upcoming maturities, tracking unit’s work flow, preparing portfolio reports for senior management,  and conducting research/analysis related to portfolio and industry trends.

 

Requirements:

Minimum

  • Bachelor’s degree in accounting, finance, or related field
  • 3+ years of commercial credit analysis experience
  • Demonstrated competence in commercial lending terminology and financial statement analysis.
  • Excellent organizational skills and attention to detail
  • Ability to work on multiple transactions simultaneously and prioritize assignments to meet deadlines
  • Strong analytical and problem solving ability with high attention to detail and accuracy
  • Strong communication and interpersonal skills
  • Excellent team player
  • Proficient in Microsoft Office including Excel, Word, Outlook

Desired

  • Demonstrated commercial underwriting experience, including performing due diligence, analyzing financial statements, identifying risks & mitigants
  • Knowledge of non-profit accounting
  • Knowledge of Community Development Financial Institutions
  • Demonstrated background or interest in community development activities such as affordable housing, microfinance, social services, etc.
  • Knowledge of CRA regulations
  • Demonstrated portfolio management experience
  • Experience with database development and maintenance (Salesforce)
  • Intermediate Microsoft Office skills (Word, Excel, Outlook)

Compensation:

N/A

How to Apply:

To view a detailed job description and to apply, please visit wellsfargo.com/careers and search Job Opening ID #5309937

Director of Applied Research Woodstock Institute
Chicago, IL
Job Function: Research and Analytics
Posted: February 6, 2017

Background:

Woodstock Institute is a leading nonprofit research and policy organization that works locally and nationally to create a financial system in which lower-wealth persons and communities of color can safely borrow, save, and build wealth so that they can achieve economic security and community prosperity. Based in Chicago, the 44-year-old organization is a nationally recognized economic justice leader and bridge builder between communities and policymakers.

Position Summary:

The Director of Applied Research designs and conducts applied research projects to examine the relationships between economic and demographic characteristics and disparities in access to economic opportunity and to support Woodstock Institute’s policy advocacy.

Responsibilities:

The research encompasses equitable lending and investments, wealth creation and preservation, and access to safe and affordable financial products, services, and systems, and how they impact lower-wealth persons and communities of color.  The position gives a qualified research professional an unusually good opportunity to see the results of his/her research have an impact in policy changes.  The Director also collaborates with local and national colleagues on research; convenes and participates in regional coalitions; makes presentations and conducts communications, media, and advocacy outreach; supervises other staff researchers and interns; and, plays a major role in foundation, corporate, and contract fundraising. The Director is a member of the senior management team and reports to the President.

Requirements:

  • Experienced researcher with a graduate degree in economics, urban planning, policy, or related field, with strong quantitative research and analysis skills.
  • At least 5 years’ experience in research and policy advocacy in areas of fair lending, wealth creation, community development and/or financial systems reform, including work with HMDA, CRA, mortgage, small business, and consumer lending data, and public data at the local level.
  • Demonstrated commitment to economic justice issues. Familiarity with economic and racial justice research, practitioners, and thought leaders.
  • Warm and collaborative interpersonal skills. Comfortable with diverse groups, including community groups, nonprofit advocates, funders, policymakers, regulators, and academics.
  • Self-starter with ability to work independently and juggle multiple tasks and deadlines.
  • Excellent writing, public speaking, and presentation skills. Demonstrated ability to write, edit, and publish research reports and related policy recommendations.
  • Fundraising and grant writing/reporting experience.
  • At least 2 years’ experience in hiring, training, and supervising junior staff and/or interns. 
  • Willingness to travel frequently within the state and across the country.

 

Compensation:

  • Salary will depend on experience. Likely range between $60,000~$90,000.
  • Generous benefits package, including 6 percent contribution by organization to retirement plan.

 

How to Apply:

Please submit resume and cover letter by February 28, 2017, to David Erickson-Pearson Executive Search at epdavid@earthlink.net.  Preferred start date: April 17, 2017
Woodstock Institute is an equal opportunity employer and strongly encourages qualified applicants from diverse backgrounds and protected classes to apply.

 

Portfolio Administration Associate - Health Care Community Development Lending Primary Care Development Corporation
New York, NY
Job Function: Lending/Loan Operations
Posted: February 6, 2017

Background:

Primary Care Development Corporation (PCDC):  Catalyzing Excellence in Primary Care.

Quality primary care is transformative and a cornerstone of healthy, thriving communities. PCDC catalyzes excellence in primary care through strategic community investment, capacity building, and policy initiatives to achieve health equity.  PCDC is a national community development financial institution (CDFI), with a 24 year history of investing in communities and providing technical assistance to improve health care and the health of the community. PCDC works with primary care providers, policymakers, industry leaders, and other advocates to advance polices that increase access to quality primary care, enabling it to more successfully improve health outcomes, reduce costs and improve health equity. Our key policy priorities include strengthening the primary care delivery system, expanding and sustaining primary care investment and supporting healthy communities.  

PCDC's Capital Investment Program provides financing to community-based health care providers nationally.  PCDC’s financing programs cover all stages of health center development, and include loans, tax-exempt bond and New Market Tax Credit financings.  PCDC has financed over 100 health care projects to-date, providing and leveraging over $600 million in development costs.  PCDC’s portfolio consists of $70 million in loan and bond investments and $87 million in NMTC, and $50 million in portfolios managed on behalf of third parties.

Position Summary:

PCDC is seeking a Portfolio Administration Associate for its Capital Investment Program.  The Associate will play a central role in monitoring credit quality and compliance of PCDC’s loans and New Market Tax Credit (NMTC) investments.  In accordance with PCDC policies and guidelines, the Associate works with borrowers in the Capital Investment portfolio.  Primary responsibilities include ensuring accuracy and data integrity of portfolio information and monitoring compliance performance of the portfolio, which consists of loans, bonds, and NMTC investments.  The position partners internally, working with the Capital Investment team to support the achievement of lending goals.  The position contributes recommendations for asset and risk management process improvements.  This position reports to the Chief Credit Officer.

Responsibilities:

Portfolio Administration:

  • Ensure accuracy and data integrity of the loan and NMTC origination/recording process; perform transaction set-up, documentation, and management. Maintain PCDC loan management processes and information systems – primarily PCDC's loan management system and Salesforce.    
  • Order UCC, lien, and property searches, prepare security filings and maintain system to ensure timely continuations. Maintain accuracy of loan/collateral files.  
  • Maintain system to ensure timely receipt of borrower insurance certificates; review insurance certificates against requirements to ensure compliance with loan agreements.
  • Maintain system to ensure that executed compliance certificates are received on a quarterly basis.   Collect and track compliance documents (financial reports, impact reports, compliance certificates.)  
  • Review borrowing requests and loan documentation, and facilitate the approval and processing of loan disbursements. 
  • Develop and generate reports to provide visibility to the Capital Investments team on the status of borrower reporting and covenant compliance.
  • Develop and maintain proactive system to meet PCDC’s requirements to its lending participants, including reporting, notices, approvals, etc. 
  • Collect and maintain loan impact data. Provide information and assistance in the preparation of impact reports for management, investors, committees, and the CDFI Fund.
  • Recommend improvements to processes and systems.
  • Other duties as may be assigned.

NMTC Compliance Monitoring:

  • Maintain complete and accurate files for the PCDC NMTC Program, including project eligibility, NMTC Advisory Board eligibility, compliance checklists, and tracking of disbursements/fees/interest payments.
  • Prepare reports for Capital Investment team, management, and committees on NMTC allocation.
  • Compile data and other reports and assist in the preparation of the NMTC allocation application.
  • Assist with annual preparation of audits, corporate filings, and other reports.

Investor reporting and administration:

  • Prepare reports and coordinate information packages for institutional investors.  
  • Monitor compliance on investor covenants.

Corporate meetings and communications:

  • Compile information and assist in the preparation of for loan/grant applications and asset quality reports for risk management and committees.
  • Prepare and disburse reports and presentations for Capital Investment team, management, committees, board of directors, auditors, and investors.
  • Record and draft minutes for committee meetings. 
  • Assist with internal and external communications.
  • Work across the Capital Investment team and the organization to ensure the delivery of seamless and high quality client service.

Requirements:

  • Undergraduate degree in business, finance, economics, accounting or related field
  • Minimum of two years of lending experience in real estate and/or community facility financing; knowledge of New Markets Tax Credits (NMTC) and Community Development Financial Institutions (CDFIs) is preferred.  
  • Familiarity with commercial real estate loan documents and basic legal terms
  • Must demonstrate a high level of attention to detail and commitment to accuracy
  • Excellent communication and organizational skills
  • Demonstrated ability to consistently multi-task and manage a varied and occasionally intense workload 
  • Exhibit a high degree of professionalism demonstrating accuracy, timeliness, and teamwork
  • Enthusiasm, entrepreneurial spirit, and a strong commitment to work in community development
  • Ability to develop strong relationships with clients and other stakeholders.

 

Compensation:

We offer a competitive salary and comprehensive benefits package.

How to Apply:

For immediate consideration, please email your cover letter, resume and salary requirements to: employment@pcdc.org with "Portfolio Administration Associate" in the subject line.

Managing Director, Catalyst Funds Living Cities
New York, NY
Job Function: Other
Posted: February 3, 2017

Background:

Living Cities, a collaborative of 22 of the world’s largest foundations and financial institutions, supports bold and promising approaches to bring opportunities and the power of mainstream markets to urban neighborhoods and residents historically left behind. Living Cities executes its mission through strategic deployment of loans, grants, and the intellectual capital and convening power of its membership. Over the past 15 years, Living Cities' members have collectively invested more than $1 billion in America’s cities, an investment that has resulted in over $16 billion in development and follow-on investments. Yet members are not simply funders. They participate at the senior management level on the Living Cities Board of Directors and contribute the time of 80+ expert staff toward crafting and implementing the Living Cities agenda.

Capital Innovation work at Living Cities is focused on blending and deploying all types of capital – grants, philanthropic debt and commercial capital – to improve the lives of low-income residents. ImpactAssets 50 has named Living Cities’ Catalyst Fund “one of the top 50 impact investing funds in the world” for the last six years in a row.

These activities include:

  • The Catalyst Family of Funds (e.g., Catalyst Fund and Blended Catalyst Fund, totaling ~$80M), Living Cities’ impact investment funds which are used to test innovative financing vehicles;
  • Contributing to the development of new investment products and tools such as Pay for Success, a nascent financing vehicle used to invest in human capital to get better outcomes for low-income people, and working with partners in the field to develop a commercially viable market;
  • Work to harness the power of domestic impact investing to improve the flow of private capital to low-income communities;
  • Using capital to support Living Cities’ cross-cutting programs and priorities including the seven-site Integration Initiative;
  • The generation of knowledge from these and other activities to influence the broader field of capital innovation.

Position Summary:

This is an exciting opportunity for a strategic leader to blend public, private, and philanthropic financial resources in new ways to improve cities and the lives of their low-income residents. Reporting to the Chief Operating Officer and partnering with an outstanding team of colleagues, associates, consultants and external partners, the Managing Director will manage the lending activities for the Catalyst and Blended Catalyst Funds, leading the development of strategy for the funds, accelerating the adoption of innovative financing, and sharing insights with the broader field.

Responsibilities:

Fund & Team Management:

  • Develop and execute on Catalyst Fund and Blended Catalyst Fund’s (Catalyst Family of Funds) business strategy to realize Living Cities articulated results, innovation, and learning
  • Oversee day-to-day fund operations including marketing and outreach, loan origination, closing, servicing, asset management, investor repayment and impact measurement
  • Maintain thorough knowledge of all investments, oversight of annual review of credits, and consideration of any requests for modifications
  • Work closely with investors, anticipate investment committee concerns and questions, help staff prepare for investment committee presentations, and follow-up on investment committee comments and questions
  • Review quarterly and annual financial and impact reports to investors for accuracy and clarity
  • Develop, execute and continuously improve lending and investment policies, insuring compliance with all funding/financing sources
  • Provide direct management, oversight, and professional development for 1-2 team members, including but not limited to reviewing credit memos, providing thought partnership, coaching, and mentoring. Also serve as a coach and mentor to Living Cities’ staff more broadly as a senior member of the team
  • Work closely with Living Cities staff to maximize alignment of investments from Catalyst Family of Funds and other Living Cities efforts towards results

Partnership Development & Thought Leadership:

  • Cultivate new partners and investors, as well as prospect for loan opportunities through Living Cities’ programmatic partners and networks
  • Build and nurture strategic relationships with investors, Living Cities’ member institutions, and other stakeholders. Provide thought partnership to borrowers as their work evolves due to Living Cities’ investment
  • Regularly reflect, through articles, blogs, meetings, speaking engagements and social media, on learnings gained from the portfolio including but not limited to lessons learned about what’s working, partnering, blending capital, barriers to success, and the iteration of capital and grant-making activities
  • Participate in meetings, provide appropriate reports, and coordinate convenings, as needed, to ensure that the work of the Catalyst Family of Funds is fully integrated into the work, financial reporting, and overall narrative of Living Cities

Requirements:

  • Bachelor’s degree required; graduate degree preferred
  • 10-12+ years of professional work experience, with expertise in commercial lending, intermediary lending, CDFIs, a housing finance agency or analogous financial institutions. Competitive candidates will offer experience managing funds $25M+
  • Robust understanding of lending principles that transcend sectors; fluency and experience in commercial, business and/or multi-family development lending
  • Breadth of experience employing a range of innovative and/or alternative business lending models and strategies
  • Experience in the community development sector – as a board member, staff, investor and/or volunteer – is highly desired
  • Experience managing staff in both direct management and collaborative project-based settings
  • Superior relationship building and management skills
  • Demonstrated ability to synthesize and clearly communicate complex issues to a range of audiences
  • Detail orientation, especially related to compliance issues
  • Highly engaged, entrepreneurial and creative problem solver exhibiting sound judgment and deep commitment and passion for Living Cities’ mission
  • Some travel (approximately 10-20% of time) required

Compensation:

Salary and benefits will be competitive and commensurate with experience.

Living Cities is an equal opportunity employer and welcomes candidates from diverse backgrounds.

How to Apply:

https://www.on-ramps.com/jobs/1168

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