Industry Job Bank

  • Make an impact and join the opportunity finance field.

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. Submissions will be reviewed and posted within 1 business day to ensure relevancy to the industry.

If you are looking for internships please visit our CDFI Industry Internship Bank.

Associate, Loan Administrator Opportunity Finance Network
Washington, DC
Job Function: Financial Services
Posted: April 19, 2018

Background:

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:

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.

Requirements:

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.  

Compensation:

Commensurate with experience

How to Apply:

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

Credit Analyst Opportunity Finance Network
Washington, DC
Job Function: Financial Services
Posted: April 19, 2018

Background:

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:

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

Requirements:

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)

Compensation:

Commensurate with experience

How to Apply:

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

Data/Research Analyst Senior Associate Opportunity Finance Network
Washington, DC
Job Function: Research and Analytics
Posted: May 29, 2018

Background:

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:

This position’s primary responsibilities are to assist Knowledge Sharing team members in conducting quantitative and qualitative research on community development financial institutions (CDFI). The position’s essential functions are assisting with the following: implementing online surveys and cleaning survey data; developing data cleaning processes; building and maintaining databases; producing tables, charts, and figures for OFN publications; producing OFN Member Peer Comparisons; responding to information requests from OFN staff, as well as external parties; processing transaction-level data for GIS mapping; improving OFN’s data visualization efforts; and researching topics requested by Knowledge Sharing team members.

Responsibilities:

  • Implements online surveys, including OFN’s annual Member Survey; drafts communications with CDFIs.
  • Oversees the Annual Member Survey process and continuously improves its efficiency, including but not limited to: programming the survey software, conducting the survey, providing assistance to respondents and extensive cleaning of survey data.
  • Conducts survey data validation by reviewing Members’ audited financial statements and tracking survey responses; develops data validation processes.
  • Interacts with OFN Members to ensure high quality survey responses and seeks input on survey designs and processes.
  • Develops and maintains the historical annual Member survey database using MS Access; creates queries in response to internal and external data requests.
  • Coordinates layouts for tables, charts, and figures used in publishable reports including the annual Side by Side publication, OFN Member Peer Comparisons, Inside the Membership, and Member Reviews.
  • Collects and validates transaction-level data for OFN’s CDFI Coverage Map website (a web-based GIS platform); drafts communication to increase Coverage Map participation.
  • Uses data visualization software (e.g., Tableau, GIS) to disseminate OFN’s research to internal and external audiences.
  • Responds independently to information requests from OFN staff as well as external parties and participates on projects as a Knowledge Sharing representative.
  • Researches topics requested by Knowledge Sharing team members.
  • Writes blog posts and other materials related to OFN’s research.
  • Performs other activities as requested by Knowledge Sharing team members.

Requirements:

Education and Experience

  • Bachelor’s Degree or 5-7 years of work experience in lieu of a degree; Master’s Degree a plus
  • 3+ years experience in data analysis using Excel experience with Access or another database software are required
  • 3+ years direct experience in quantitative research required; experience in qualitative research is highly beneficial
  • Experience with statistical software is required (e.g., R, SPSS); experience with Wincross is a plus
  • Experience with ArcGIS software is required
  • Experience with online survey software such as Survey Monkey, Qualtrics and/or similar software a plus
  • Experience with data visualization software (e.g., Tableau) is preferred
  • Experience or volunteer work in nonprofit or small office environment a plus

Knowledge, Skills, Abilities, and Physical Requirements

  • Extensive knowledge of financial statements is essential, understanding of non-profit financial institutions’ financial statements is a plus. 
  • Proficient with MS Office Products; advanced Excel and beginner Access required
  • Strong organizational skills, patience, and attention to detail required
  • Strong analytical skills as well as written and verbal communication skills required
  • Superior interpersonal skills and ability to work well with diverse constituents is required
  • Ability to work independently or in team environment is required
  • Ability to manage multiple tasks in effective and efficient manner required
  • Knowledge of and commitment to community development is highly beneficial; interest in learning about the community development finance field is required
  • Limited travel required (<10%)
  • No extraordinary physical requirements beyond ability to travel
  • Job involves normal physical requirements for an office position  

Compensation:

TBD on experience

How to Apply:

To Apply visit our online application portal at: https://theapplicantmanager.com/jobs?pos=OF137

SVP, Financial Services (Bond) Opportunity Finance Network
Washington, DC
Job Function: Financial Services
Posted: April 19, 2018

Background:

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:

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

Requirements:

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.  

Compensation:

TBD

How to Apply:

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

Chief Lending and Investment Officer Opportunity Finance Network
Washington, DC
Job Function: Investment
Posted: August 13, 2018

Background:

Opportunity Finance Network (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.

Headquartered in Washington, DC, OFN is governed by a 13-member board of directors with an annual operating budget of approximately $10M and a staff of 30.  The Financial Services team manages $600M in lending capital. 

Position Summary:

The Position

Reporting to the President & CEO, the Chief Lending & Investment Officer (CLIO) has the overall responsibility for the strategy, development, implementation, and risk management of OFN’s financial services. Priorities for the CLIO include: driving growth in CDFI Bond Guarantee Program, CDFI Financing Program and Asset Management business; developing new market opportunities which support OFN’s strategic goals; and growing OFN’s capital under management with new capitalization vehicles and new investors alongside of the President and CEO. A member of OFN’s 8-person Leadership Team, the CLIO is responsible for the overall management of the Financial Services team which includes two direct reports and a total current staff of 8.

Responsibilities:

Core Responsibilities:

  • Lead growth opportunities in the CDFI Bond Guarantee Program, CDFI Financing Programs, and Asset Management business with third party investors.
  • Research and develop market opportunities for new financing strategies, products, services, and systems to support OFN’s strategic goals, and directly lead or participate in their design and implementation.
  • With the President & CEO, grow OFN’s capital under management with new capitalization vehicles and with new investors.
  • Oversee senior management in the CDFI Bond Guarantee and CDFI Financing Programs, including new originations, portfolio management, credit policies, and documentation.
  • Develop and maintain a thorough understanding of the market forces that influence and impact the opportunity finance industry and OFN’s business and strategic goals, reporting to President & CEO with analysis and recommendation as appropriate.
  • Serve as a member of OFN’s Leadership Team and participate in strategic and business planning for OFN.
  • Manage, develop, and grow (as appropriate) the Financial Services team to execute on departmental and organizational goals and strategies efficiently and effectively.

Requirements:

Qualifications:

  • Bachelor’s Degree or 12+ years of work experience in the financial services field in lieu of a degree; MBA or Master’s Degree preferred.
  • Direct lending experience required.
  • 12+ years leading and managing a lending or investment team required.
  • 7+ years in a supervisory or managerial capacity required.
  • Experience in corporate or structured finance preferred with experience in credit risk analysis and management; formal credit training required.
  • Strong lending and investment underwriting knowledge, with an understanding of the unique characteristics of the community development finance required.
  • Experience in community development as well as lending to financial institutions preferred.
  • Ability to manage a division independently under strategic direction as well as the ability to champion new opportunities for growth, develop staff and possess a keen understanding of financial markets and products, with exceptional financial, market, and qualitative analysis skills.
  • Excellent writing, verbal, and presentation skills.
  • Demonstrated leadership and motivational ability, superior interpersonal skills, ability to manage and work in teams, and interacting constructively with diverse constituents.
  • Highly energetic, entrepreneurial thinking, creative problem solver exhibiting sound judgment and deep commitment and passion for OFN’s mission.
  • Moderate to heavy travel required (35% of time).

Compensation:

See below.

How to Apply:

Application Process

To apply, e-mail resume, cover letter and salary requirements to: OFN@raffa.com (e-mail applications are required).  For other inquiries contact Eve McGowan at emcgowan@raffa.com. 

Opportunity Finance Network is an equal opportunity employer and ADA compliant. 

Closing Manager (Loans and Grants) Greater Minnesota Housing Fund
SAINT PAUL, MN
Job Function: Lending/Loan Operations
Posted: August 8, 2018

Background:

Greater Minnesota Housing Fund (GMHF) is Minnesota’s leading nonprofit affordable housing lender. More than just a lender, GMHF is known for its innovation and its creative approaches to Minnesota’s affordable housing challenges.

GMHF is Minnesota's largest non-profit certified community development finance institution (CDFI) serving housing development organizations, local governments and builders & developers with loans & grants, permanent financing, tax credit equity, technical assistance, research and policy analysis. Concentrations in affordable rental housing, home ownership, sustainable development, supportive housing with services, housing preservation, neighborhood revitalization, and the preservation of naturally occurring affordable housing. Minnesota Equity Fund (MEF) is GMHF's low income housing tax credit syndication subsidiary capitalized with $50 million in initial investor equity. MEF invests in affordable multifamily housing developments in Minnesota and other states. NOAH Impact Fund (NOAH) is GMHF’s naturally occurring affordable housing subsidiary. NOAH targets rental properties at risk of conversion to higher rents and the threat of displacement of low- and moderate-income residents.

GMHF is certified by the Department of Treasury as a Community Development Financial Institution (CDFI), and is a 501(c)(3) nonprofit organization founded in 1996 to address the affordable housing needs of Minnesota’s under-served areas including cities, towns, rural areas, and tribal nations. GMHF is rated Four-Star, AA Policy Plus by Aeris and is a member of the Federal Home Loan Bank of Des Moines.

Position Summary:

The Greater Minnesota Housing Fund Closing Manager is responsible for managing GMHF’s closing process for a range of financing activities including grants, loans, and equity products. The Closing Manager works directly with other professionals, including legal counsel, real estate developers, lenders, and representative of other agencies and organizations in order to bring funded projects to closing. This position is also accountable for closing document management, permanent record retention, and reporting on closing activities.

The Closing Manager role requires knowledge of common affordable housing financing structures including Low Income Housing Tax Credits and Tax Exempt Bonds. The Closing Manager reports to the Director of Programs and Lending and works closely with other public and private financing entities. The Program and Loan Assistant reports to the Closing Manager.

Responsibilities:

Pre-closing Due Diligence 
• Prepare and distribute due diligence checklists to borrowers.
• Attend due diligence calls with borrower and other partners.
• Prioritize and monitor workflow to meet closing deadlines; track status of due diligence items and follow up to facilitate timely and efficient review.
• Coordinate review of documents by GMHF staff and attorneys.
• Review financing documents to ensure comments and edits are incorporated as agreed.
• Review preliminary documents from closing agent such as the legal description of the property to be encumbered, settlement statement, title commitment, organizational documents, survey, insurance policy and UCC searches to ensure the title of the property is acceptable to GMHF
• Prepare final documents and coordinate execution as required for closing.
• Verify closing draws and prepare loan funding documentation.
 
Closing
• Perform thorough review of financing package to ensure that the transaction complies with the terms outlined in the Loan Commitment/Credit Report at final approval. 
• Coordinate loan funding with closing attorney, prepare and submit wire request as required. 
• Attend closing in person as needed.
 
Post-Closing
• Perform a post-closing review of executed financing documents to ensure all documentation is complete, accurate, and in compliance with regulatory requirements.
• Assemble collateral file, assign number and input loan data into applicable line of business application (TEA).
• Review all invoices for third-party fees and submit for payment.
• Facilitate timely hand-off of closed loans to asset management for ongoing monitoring.
 
 
 
Grant Award Execution
• Track grant award activity and perform or direct needed follow-up including issuance of grant award notifications, execution of grant agreements, entry of data into applicable line of business application (TEA), and disbursement of funds. 
• Assemble and retain official record of activity for each grant. 
 
Record Retention & EDMS Administration 
• Maintain official financing records in accordance with legal record retention requirements and GMHF’s electronic document management protocol.
• Organize drafts and final documents from pre-closing through the final closing to allow for efficient search and retrieval of items needing review and execution.
• Conduct complete post-closing audit of each financing to ensure retention of accurate and complete records.
 
Reporting & Quality Control 
• Maintain compliance with established work flow; recommend process improvements and help identify technology needs related to efficient closing of financing products.
• Implement process changes as directed to improve efficiency, customer service, and work product quality.
• Report on loan production activity to Director of Lending and provide updates as required for effective cash management. 
• Coordinate data reporting with Loan Portfolio and Data Analyst and Manager of Accounting.
 
Other
• Participate in projects as needed to accomplish overall goals and strategies.
• Other duties & responsibilities as assigned.

Requirements:

Professional Qualifications
• Bachelor’s Degree or equivalent experience 
• 3- 5 years of loan closing experience with multifamily or single family housing;
• Ability to understand and analyze legal documents associated with real estate sales and development.
• Analytical skills and attention to detail with strong housing finance knowledge is essential.
• Ability to plan, schedule, and prioritize responsibilities, work under pressure to meet strict deadlines, and consistently produce high quality work products;
• Ability to work both independently and collaboratively in a dynamic organization;
• Knowledge of affordable housing finance programs such as:
o state agency financing programs,
o federal low income housing tax credits and tax exempt bonds,
o HUD and USDA-RD federally subsidized mortgage products,
o Freddie Mac and Fannie Mae affordable housing products;
• Proven track record of effective project management involving multiple objectives, stakeholders and programs;
• Proficiency in MS Office (word processing, spreadsheet, database, other applications);
• Experience with lending, banking, affordable housing and/or community development lending.
• Experience with loan servicing software.
 
Personal Qualifications
• Ability to creatively and effectively conduct successful work-outs of troubled projects;
• Ability to travel (20-25%) in Greater Minnesota (80 counties outside of the metro);
• Personal maturity, highly professional social skills, ability to remain objective, rational and discrete in stressful situations such as business negotiations, resolving differences of opinion, completing complex transactions, and collaborating with multiple internal and external stakeholders;
• Interpersonal skills necessary to deal effectively with staff, funders, the public;
• Excellent oral communication skills, writing and publication skills;
• Passion for affordable housing, community development, social justice.

Compensation:

Negotiable

How to Apply:

Please email your resume, the job you are applying for, and where you found the job posting to asheets@gmhf.com.

Accounting Associate Partners for the Common Good
Washington, DC
Job Function: Accounting
Posted: August 7, 2018

Background:

Join a thought provoking and innovative leader within the Community Development Financial Institution (CDFI) industry.  Partners for the Common Good (PCG), a Washington, DC based community development loan fund, is seeking an Accounting Associate.

Founded in 2000, PCG’s mission is to advance economic justice and opportunity for low-income people and communities.  We do this by partnering with CDFIs and socially motivated investors across the United States to serve borrowers that promote affordable housing, neighborhood revitalization, and healthy communities through support of education, community health centers, human service providers, day care and others.

PCG founded the CDFI industry’s first wholesale loan participation network that today has partnered with nearly 50 CDFIs in Washington, DC and 36 states, originated  $78 million in participation transactions, and developed a five-year strategic plan with an objective of growing its portfolio to $50 million.

PCG also participates as a community development entity (CDE) allocating New Markets Tax Credits (NMTC).  PCG received $50 million in NMTC allocations and to date has closed five (5) transactions for a total of $29.5 million in allocations.

PCG is leading the CDFI industry into the digital sector with its groundbreaking CapNexus platform (CapNexus.org).  CapNexus matches community development finance opportunities with sources of capital.  The platform has 800+ users and has posted over $1 billion community development transactions.  

PCG is also a leader in social impact assessment and public policy advocacy.  Our work is pioneering in its creation of new tools and infrastructure for community development finance organizations to manage portfolios and grow scale and impact.

PCG’s office is located in Washington DC.

Position Summary:

The Accounting Associate reports to the Chief Accounting and Administrative Officer, and is responsible for assisting with the financial management and general administration functions of the office. Position is full-time.

Responsibilities:

• Input, review, and post accounting entries into the accounting system (Abila MIP Fund Accounting)
• Process vendor invoices, bills and employee expense reports
• Process investor payments and interest payments on investor CDNs
• Prepare borrower check and wire payments for entry into the Portfol loan servicing software by Loan Servicing and Compliance Associate
• Verify borrower check and wire payments in the Abila MIP Fund Accounting system
• Process other bank deposits
• Maintain records on all financial transactions
• Maintain portfolio reconciliations of the loans outstanding and loan loss reserve
• Manage investor maturities, renewals, and interest donation campaigns
• Assist in preparation of documentation and materials for annual audit
• Assist in coordination of day-to-day office administrative functions
• Assist with duties related to Human Resources management
• Support Chief Accounting and Administrative Officer on special projects
• Other tasks as required

Requirements:

This is an entry level position, perfect for a recent college graduate.  An Accounting degree is preferred, but not required. 

  • The position requires an interest in accounting, bookkeeping, and office administration. 
  • requires an individual who can manage multiple tasks at a time, pays attention to detail and can meet deadlines.
  • Independence, interpersonal skills and flexibility are a plus. 
  • Basic computer and research skills along with knowledge of MS Office (Excel, Word, PowerPoint). 
  • Familiarity with contact management databases, such as Salesforce, is a plus. 
  • Familiarity with non-profit accounting, generally accepted accounting principles, and accounting systems preferred, but not required.  

Compensation:

Competitive salary, excellent benefits and a pleasant, challenging work environment. PCG is an equal opportunity employer.

How to Apply:

For more information about the organization, and to apply, please visit our website at www.pcgloanfund.orghttp://www.pcgloanfund.org

Loan Portfolio Manager Entrepreneur Works
Philadelphia, PA
Job Function: Lending/Loan Operations
Posted: August 7, 2018

Background:

Entrepreneur Works Fund is a non-profit, certified Community Development Financial Institution (CDFI) focused on growing small businesses and creating jobs in the Philadelphia metropolitan area. Our mission is to cultivate and promote successful entrepreneurs among underserved populations and in underserved areas of the region — entrepreneurs who then become economic engines in their own communities.
Our loan portfolio provides affordable microloans between $500 and $50,000 to entrepreneurs who might otherwise be unable to secure capital from a traditional bank. We have no minimum credit score and can be flexible around collateral as well as the age and revenue of the business. By connecting hundreds of entrepreneurs each year with access to capital, one-on-one technical assistance, business training and networking opportunities, Entrepreneur Works Fund helps promising individuals develop economic self-sufficiency and create job opportunities through business ownership.

 

Position Summary:

Entrepreneur Works Fund seeks a Loan Portfolio Manager to be responsible for the management and soundness of the organization’s small business loan portfolio. The Loan Portfolio Manager will work with Entrepreneur Works Fund’s lending unit to manage the small business loan portfolio and be responsible for loan closing, processing, servicing, reporting, and coordinating technical assistance for current borrowers, in addition to assisting with expanding the portfolio through loan sourcing, origination, underwriting and loan policy research.
Entrepreneur Works is currently focused on expanding the small business loan portfolio and developing new, competitive products that are relevant to the populations that the organization serves. The Loan Portfolio Manager will be integral to this effort — building community partnerships, engaging current borrowers, designing new products, and bringing efficiency to department operations.

Responsibilities:

This position requires an energetic, flexible, highly detailed-oriented and organized individual with superior written and verbal communication skills who thrives in a fast-paced, deadline-oriented work environment and as part of a dynamic, multicultural team of talented professionals. The ideal candidate will be an experienced loan administrator who is passionate about our mission, has a commitment to excellence, and can demonstrate a proven ability to multitask, prioritize and manage projects under tight deadlines.
Principal Responsibilities:
Portfolio Servicing and Management
• Monitors and manages the performance of the loan portfolio including loan delinquency management, collections, problem loans and workouts within established policies and performance standards
• Collects and enters all required client and transaction data into loan processing system and database
• Prepares and tracks the disbursement and repayment of loans, including associated fees and interest payments
• Prepares closing documents for approved loans, coordinates loan closings, and maintains loan files
• Coordinates on-going technical assistance to borrowers to ensure timely and complete loan repayment 
• Prepares reports and presentations for senior management, loan committee, funders and the board
• Assists accounting and administrative staff to ensure accurate and timely financial recordkeeping and preparing for the annual audit
• Ensures that data collection, reporting and filing systems meet organization’s reporting needs and complies with any and all contract, funder and audit requirements
• Responds to periodic industry and funder surveys
• Works closely with the senior management team to prepare proposals for the funding and financing of operations and the loan fund for current needs and anticipated growth
• Conducts research on legal, regulatory and public policy issues relevant to community development finance and updates loan policy and operating procedure documents, manuals, loan applications and related documents as needed
Additional Responsibilities:
New Business Development and Loan Origination
• Assist with marketing and outreach to prospective borrowers
• Cultivates relationships, makes presentations to and builds referral networks with banks, local government agencies, community organizations, business associations and other financial intermediaries
• Loan applicant intake, underwriting and analysis
• Identifies, develops and implements new financial products to serve the market and meets loan production and operating efficiency goals

Requirements:

• Bachelor’s Degree required (relevant experience will be considered); 
• Two or more years of small business loan administration experience in a commercial bank, CDFI or similar organization is preferred, but experience in mortgage or consumer lending will be considered;
• Superior writing, verbal, presentation and interpersonal skills;
• Strong financial analysis skills;
• Demonstrated interest in microfinance, entrepreneurship and working with diverse and underserved populations;
• Experience working/volunteering for a non-profit organization a plus
• Proven proficiency in Microsoft applications (Word, Excel and Power Point) and experience with relational database applications;
• Must be a detail-oriented, highly organized team player who is able to work independently in a fast-paced, deadline-oriented environment

Compensation:

Salary commensurate with experience, plus full benefits package

How to Apply:

Please email a cover letter and resume with salary requirements by August 31, 2018 to   loans@entre-works.org with “Loan Portfolio Manager 2018” in the Subject Line. No phone calls, please.

Loan Portfolio Manager Community Health Center Capital Fund
Boston, MA
Job Function: Lending/Loan Operations
Posted: August 6, 2018

Background:

Community Health Center Capital Fund, a nonprofit, certified Community Development Financial Institution, is seeking an experienced professional for a position responsible for servicing, monitoring, compliance, reporting, and administering its loan portfolio. The individual will also provide assistance with originating and closing new loans. 

Position Summary:

The Loan Portfolio Manager reports to the Director of Loan Programs and is responsible for assisting the director in the following loan portfolio administration duties:

Responsibilities:

• Monitoring loan fund receivables and payables
• Tracking loan and grant reporting and covenant compliance
• Annual and quarterly loan-related reporting
• Monitoring the construction process for health center capital development loans
• Spreading and analyzing quarterly and annual borrower financial statements and preparing various analyses and management reports.
• Interact closely with borrowers, lenders and other funding sources as well as with staff members at the firm’s affiliate organization, Capital Link.

Requirements:

• The position requires a proven track record of success in accounting, financial and quantitative analysis.
• Excellent organizational and administrative skills are essential.
• The ability to multi-task effectively and work both independently as well as in a team environment is essential.
• Previous experience within a lending environment is preferred including loan operations and servicing and familiarity with fixed income products and legal documents, preferably in a non-profit organization.
• Excellent MS office skills (Word/Excel/PowerPoint)
• Familiarity with online reporting systems
• Accuracy and attention to detail
• Strong communication and interpersonal skills are required.
• A bachelor’s degree in accounting or finance is required, and a master’s degree preferred.
• Formal credit training, familiarity with the New Markets Tax Credit financing program and/or loan underwriting are all a plus.

Compensation:

Please submit salary requirements with cover letter & resume.

How to Apply:

The position involves some travel (up to 5% of time) to industry conferences, events or client meetings.

As a growing entrepreneurial non-profit organization, Capital Fund provides exceptional opportunities to its staff members.  Position offers a competitive salary and benefits package.  Complete job description available at http://chc-capitalfund.org/. Interested candidates should send a cover letter, resume, salary history, and salary requirements to Kathryn Graves, graveskatl@gmail.com. 

No phone calls, recruiters, or staffing firms please!!  

**Capital Fund is an Equal Opportunity Employer and considers applicants for all positions without regard to race, color, age, sex, sexual orientation, religion, veteran’s status, military status, creed, physical or mental handicap/disability or national origin. 

Mortgage Processor/First Home Club Manager Cooperative Federal
Syracuse, NY
Job Function: Lending/Loan Operations
Posted: August 3, 2018

Background:

Cooperative Federal is a unique combination of a traditional credit union and a non-profit community development organization. We operate four community-based offices in the city of Syracuse, NY and three high-school branches. Joining our team is making a choice to dedicate yourself to building our local community and advancing social justice.

As a non-profit, certified Community Development Financial Institution, we have spent the past 36 years developing a comprehensive selection of accounts, loans, financial education, and financial counseling services to help our predominantly low-income members build credit, buy cars, become homeowners, avoid foreclosure, launch businesses, and more, particularly in neighborhoods that have become “bank deserts.” In this way, we use the tools of finance to foster inclusion, equity, and solidarity.

Why Work Here?
“We use the tools of finance to work for social justice.”

Position Summary:

We are seeking a First Home Club Manager and Mortgage Processor.

The position can be tailored to the mortgage lending experience of the person hired.

Responsibilities:

First Home Club program - Matching grant program for first-time homebuyers
• Manage caseload of First Home Club program and guide participants from enrollment through mortgage closing
• Pre-screen and qualify participants for First Home Club based on guidelines set forth by the Federal Home Loan Bank of NY
• Enroll participants and open member accounts related to the First Home Club program
• Coordinate with all parties to facilitate a smooth loan closing including attorneys, real estate agents, mortgage officers, etc.
• Ensure post-closing documentation is submitted to FHLBNY to reimburse credit union monies
• Complete First Home Club monthly reporting accurately and in a timely manner
Mortgage Loan Processor
• Assist members with the loan application process, explain the loan process, and answer member questions during the loan process to ensure completeness of information
• Intake of loan applications in-person, over the phone, or electronically. Gather documentation, perform income and employment verifications. Advise applicants about the credit union's mortgage loan products.
• Prepare loan packages in compliance with policies, procedures, secondary market investor guidelines, and Private Mortgage Insurance guidelines. Underwrite PMI coverage in accordance with vendor policy.
• Prepare mortgage loan application and document packet for closing; coordinate with appropriate parties to ensure closing deadlines are met per purchase contract, grant funding sources, etc.
• Complete execution of security interest of credit union; ensure that the documentation on titles is accurate and up-to-date
• Participate in all Lending Department training to ensure updated knowledge on credit union policy, procedures, guidelines, secondary market investor guidelines, PMI guidelines, and any applicable laws and regulations.

Requirements:

Required Skills:
• Must have strong organizational skills and attention to detail
• Must have excellent interpersonal, organizational and communication skills
• Must have or develop thorough knowledge of loan servicing functions, specifically loan documentation and collateral requirements;
• Ability to research and compile information for the purpose of formulating recommendations
• Proficient in PC, math and analytical skills
• Ability to work both independently and as a team member
• Strong computer skills, specifically Microsoft Word, Access, and Excel, and must develop proficiency in the credit union core system software.
• Project management experience preferred.

Compensation:

Competitive nonprofit salary based on experience, education, and skills and a benefits package, including health insurance, 401(k) retirement plan, life insurance, generous paid time off, and 11 paid holidays annually.

How to Apply:

To apply, please email a brief cover letter and your resume to hr@coopfed.org.

You can also direct resumes, cover letters and inquiries to:
Cooperative Federal, Attn: Staff Search, 800 N Salina St, Syracuse, NY 13208

To apply by fax, send resume and cover letter to (315) 476-0567, ATTN: Staff Search

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