Careers at OFN

  • Join our team and work to align capital

  • with social, economic, and political justice.

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.

Please view all current OFN careers here and all internships here.

If we don't currently have an open position in your area, you may submit a Resume.

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 2018 Internships

Visit our Internships page for more information about the internship program.

Apply Now

Click here to apply for an open position.

Associate, Loan Administrator

Company Summary

OFN is a leading national network of CDFIs (community development financial institutions) with offices in Philadelphia and Washington D.C. In pursuit of a mission to align capital with social, economic, and political justice, OFN supports its member CDFIs with money, strength, and voice to drive transformational change in underserved communities nationwide.

Position Summary and Essential Functions:

This position is primarily responsible for assisting the Vice President, Loan Operations in the administration of OFN’s Bond Guarantee Loans. Such assistance will include collateral management, compliance management, database management, loan servicing monitoring and recordkeeping. Responsibilities also include assistance with OFN’s existing loan portfolio.

Responsibilities:

  • Support the preparation and submission of the Bond Guarantee Program application via collection, organization and remittal of financial documents.
  • Review and coordinate documents associated with borrowers requisition of Bond funds for completeness and compliance with the Bond Guarantee Program requirements.
  • Provide payment oversight of Bond Loans, management of Bond Loan collateral. Ensure proper administration of all Secondary Loan documents by the borrower 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 borrowers maintain the required amount of collateral per Bond Loan legal documents.
  • Monitor escrow agent activities and the custody of Secondary and Tertiary Loan documents held by the escrow agent.
  • Review, coordinate and test for compliance with covenants of the borrower.
  • 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.
  • Assist with administration of OFN’s existing loan portfolio including collection and coordination of loan documentation, on-boarding and modifications to existing loans, ensure closing conditions are met, and initiate the funding for each loan closing.
  • Prepare timely submissions of internal and external departmental reports.
  • 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.

Education and Experience:

  • Bachelor’s Degree or 5+ years direct work experience required.
  • 1-3 years of experience in lending markets that have similar characteristics to the loans of OFN, and/or title or mortgage industry experienced required.
  • Experience in loan operations with a financial and /or nonprofit institutions preferred.
  • Experience in multi-party lending structures, with borrowers, lenders, banks and servicers and backup servicers preferred.
  • Experience preparing loan documents utilizing a Loan Servicing Software or standard templates as well as CRM system experience desirable.
  • Experience or knowledge of the CDFI Industry a plus.
  • Experience in nonprofit or small office environment a plus.

Knowledge, Skills, Abilities, and Physical Requirements:

  • Knowledge of accounting or lending practices required.
  • Superior analytical and organizational skills required.
  • Superior written and verbal communication skills required with emphasis on clarity, conciseness and relevance.
  • Ability to understand and modify financial statements is preferred.
  • Ability to understand loan documentation is required.
  • Ability to review the work of other partners/subcontractors is required.
  • 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.  

To Apply visit our online application portal at: https://theapplicantmanager.com/jobs?pos=OF134

Credit Analyst

Company Summary

OFN is a leading national network of CDFIs (community development financial institutions) with offices in Philadelphia and Washington D.C. In pursuit of a mission to align capital with social, economic, and political justice, OFN supports its member CDFIs with money, strength, and voice to drive transformational change in underserved communities nationwide.

Position Summary and Essential Functions:

The Credit Analyst supports senior Financial Services staff with servicing of the CDFI Fund Bond Guarantee Program, performing annual borrower reviews, and analytical support of loan underwritings. Responsibilities also include financial statement analysis, borrower credit reviews, loan requests, loan covenant compliance, and portfolio management duties. Assistance mainly involves gathering and compiling data, analyzing and preparing reports, composing written summaries, spreading financial statements, maintaining borrower and loan production files, communicating with borrowers, and preparing information for internal and external reviews.

Responsibilities:

  • Assist senior Financial Services staff with the management of the CDFI Bond application process including support in servicing and managing assets under the CDFI Bond program.
  • Manage loan covenant compliance, including financial statement collection, borrowing base compliance with loan agreement, and following up with borrowers in the case of covenant violations
  • Spread borrowers’ financial statements into template
  • Assist Financial Services team in loan underwritings, including various analyses, calculations, summaries and other tasks as required by the underwriter
  • Assist in analysis and preparation of annual loan portfolio review
  • With support from senior staff, perform annual credit reviews of borrowers
  • Communicate status of receipt of quarterly financial statements, quarterly compliance checks and reporting, portfolio reports, spreads and scheduling of annual reviews
  • Assist in drafting and updating written procedures for credit administration
  • Analyze portfolio trends and identify portfolio vulnerabilities by interpreting data on payment trends, borrower financial ratios, pricing, economic influences, and other factors affecting the portfolio
  • Oversee maintenance of accurate, complete and up-to-date files and records
  • Schedule Investment Committee meetings, compile/distribute investment committee packages and follow-up with committee members needs/requests for information as well as take meeting minutes
  • Provide quality customer service at all points of contact with OFN borrowers and prospects as well as answer questions and advise customers regarding loans and transactions with OFN borrowers and prospects

Education and Experience

  • Bachelor’s Degree or 5-7 years of work experience in lieu of a degree
  • 1-3 years of experience in financial statement analysis and credit underwriting in a commercial lending environment desirable
  • Experience preparing loan documents utilizing a Loan Servicing Software or standard templates as well as CRM system experience desirable
  • Experience or knowledge of the CDFI Industry a plus
  • Experience or volunteer work in nonprofit or small office environment a plus

Knowledge, Skills, Abilities and Physical Requirements

  • Superior written and verbal communication skills required with emphasis on clarity, conciseness and relevance
  • Superior interpersonal skills and ability to work constructively with diverse constituents is required
  • Ability to analyze non-profit financial institutions’ financial statements required
  • Ability to understand loan documentation
  • Strong organizational skills and ability to manage multiple tasks under moderate supervision in and effective and efficient manner required
  • Ability to work independently or in team environment as required
  • Understanding of and commitment to opportunity finance required
  • Proficient with MS Office Products/Internet
  • Job involves normal physical requirements for an office position.
  • Some travel required (10% of time)

To Apply visit our online application portal at: https://theapplicantmanager.com/jobs?pos=OF135.

SVP, Financial Services (Bond)

Company Summary

OFN is a leading national network of CDFIs (community development financial institutions) with offices in Philadelphia and Washington D.C. In pursuit of a mission to align capital with social, economic, and political justice, OFN supports its member CDFIs with money, strength, and voice to drive transformational change in underserved communities nationwide.

Position Summary and Essential Functions:

The SVP, Financial Services contributes to the growth in influence and impact of OFN’s Financial Services through working to increase responsible and affordable capital for the CDFI industry.

The position is responsible for the expansion and implementation of OFN’s participation in the U.S. Treasury CDFI Bond Guarantee Program as a Qualified Issuer. Helps OFN successfully play its role as a "go between" financier to the broader CDFI community by offering long-term credit at below-market interest rates. Works with the CDFI Fund and other parties to expand access to more CDFIs and provide training to Eligible CDFIs.   Insures that more CDFIs have access to this program that incentivizes and empowers CDFIs to execute high impact projects including real estate, housing, daycare or healthcare centers, and municipal infrastructure.

Essential functions for the position include managing a team that helps CDFIs through the phases of application, underwriting, closing and bond disbursement, and in servicing, compliance and reporting to the US Treasury CDFI Fund. The SVP works closely with VP, Operations to contribute to the success of the overall OFN Financial Services team.

Responsibilities:

  • Manage all aspects of OFN participation as Qualified Issuer in the CDFI Bond Guarantee Program.
  • Build upon established practices for guiding CDFIs in the application, closing, disbursement, compliance and reporting phases of the CDFI Bond Guarantee Program.
  • Source Eligible CDFIs and structure high quality multi-party bond issuances.
  • Collaborate with senior leadership of OFN on relationship management with OFN borrowers
  • Collaborative member of the Financial Services Strategies Team in the development of new financial programs at OFN
  • Work in partnership with the CDFI Fund to expand access and eligibility to the CDFI Bond Guarantee Program
  • Assist on enterprise-wide initiatives as required
  • Manage the following activities with subordinate assistance:
    • Ensure compliance with government regulations, OFN policies and procedures and provides correction of inconsistencies and monitors error resolution
    • Oversee loan closing, documentation and processing duties

Education and Experience:

  • Bachelor’s Degree and 12 years work experience required; Master’s Degree preferred
  • 7+ years of direct experience in the financial services field; direct lending experience required
  • 5+ years supervisory experience required
  • Experience in financial statements analysis and credit underwriting required
  • Experience in lending required; experience in lending to financial and/or non-profit institutions will be an advantage
  • Exposure to complex financial transactions and deal structures a plus
  • Experience in nonprofit or small office environment a plus

Knowledge, Skills, Abilities, and Physical Requirements:

  • Superior analytical, problem solving, and organizational skills required
  • Superior written and verbal communication skills required with emphasis on clarity, conciseness and relevance
  • Management, leadership and motivational ability required
  • Ability to understand and modify financial statements in order to perform credit and financial underwriting is required
  • Ability to perform and recommend best practice approaches to loan documentation is required
  • Superior interpersonal skills and ability to work well with diverse constituents is required Knowledge of and commitment to community development preferred
  • Ability to work independently or in team environment as required
  • Ability to independently manage multiple tasks effectively and efficiently
  • Modest travel required (25% of time)
  • No extraordinary physical requirements beyond ability to travel. 

Job involves normal physical requirements for an office position.

To Apply visit our online application portal at: https://theapplicantmanager.com/jobs?pos=OF136

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