Senior Loan Program Manager

Background

The Metropolitan Consortium of Community Developers (MCCD) is an association of 35 community development corporations and a Community Development Financial Institution (CDFI) working collectively to advance racial and economic justice by leveraging and stewarding community development resources.

MCCD supports entrepreneurs at all stages of business development and growth by providing free technical assistance and access to capital to individuals and groups who are unable to access the commercial banking system. Our core constituencies include Black, Indigenous and People of Color (BIPOC), low-wealth residents, and other Minnesota residents who struggle to access traditional capital markets.

Summary

The Senior Loan Program Manager (SLPM) provides leadership and management of all lending activities. The SLPM is responsible for implementing effective lending strategies, managing the loan portfolio, and ensuring CDFI and other government related compliance. The SLPM underwrites loans and makes recommendations to the Loan Committee. The position also oversees the loan operations and manages the Loan Operations Manager and Loan Operations Coordinator.

Responsibilities

Portfolio Compliance & Performance

• Work with the CFO and Finance Manager to ensure CDFI compliance.
• Determine and coordinate lending activities to ensure compliance with state and federal laws, and rules and regulations.
• In collaboration with the CFO, and Senior Credit Manager, analyze economic conditions that effect the Organization’s portfolio performance and make recommendations for corrective action.
• Work with the CFO and Finance Manager to ensure quality data for internal and external reporting.
• Work with CEO & CFO to evaluate performance risk in the portfolio and determine allowance for bad debt.
• Ensure compliance with Organization’s Loan Policies and Procedures.
• Continuously improve policies and procedures to meet program goals and the mission of the Organization.
• Proactively mitigate loan portfolio risk through loan extensions, enhanced monitoring, restructuring, and workouts and adjustments to risk ratings and loan loss reserves.
• Oversee monitoring of portfolio working closely with the Senior Credit Manager and CFO.

Loan Underwriting and Origination

• Work with loan clients throughout the loan process.
• Carry out credit analysis activities in partnership with Business Advisors.

Management & Staff Development

• Monitor Loan Department’s annual budget.
• Oversee the loan operations processes and staff to ensure loans are closed in a timely process and customers are treated fairly and with respect.
• Ensure Loan department staff are adequately trained and knowledgeable in best practices.
• Ensure staff operates consistent with internal policies and procedures, organizational mission, and operating plan.
• Ensure the Loan Operations staff collect with compassion. Ensure the staff follows established policies and procedures if borrowers are late with payments.
• Foster a strong client-centric team.
• Develop, manage, and oversee all lending standards, practices and procedures and protocols.
• Partner with appropriate staff to complete funding applications for lending and grant management deployed by the lending team.
• Work closely with the CFO and Loan Operations Specialist to ensure timeliness of lending activities and accuracy of lending funds available balance, loan repayments and reimbursements to external partners.

Strategy Development

• Develop the annual capital fundraising plan in partnership with MCCD’s Director of Advancement, CFO, CEO, and Director of Small Business Development, ensuring consistency with the Organization’s strategic plan and operating goals.
• Work with MCCD’s Communications Manager and Director of Small Business Development to develop strategy for marketing lending products in existing and new markets.
• Study the loan portfolio to expand into new markets and/or new products while retaining strong client base to include:
  • Research and evaluation of feasibility of new lending products
  • Developing and implementing plans for expansion of lending programs.
• Keep abreast of changes in the industry and changing trends in lending and in collaboration with the Senior Credit Manager, react to changes in a way that maintains competitiveness in product design and delivery channel.
• Actively lead the department in an ongoing development process by generating ideas for improvement, taking advantage of opportunities, and suggesting innovations.

Relationship Building

• Develop Loan Committee and Portfolio Review Committee; lead Committee meetings.
• Proactively work with staff and external partners (financial institutions, foundations, other stakeholders) to expand the availability of lending capital.
• Work with MCCD’s Leadership Team to ensure lending products and program goals serve local needs.
• Represent MCCD at partner and community events.

Requirements

MCCD acknowledges that applicants may not have all the qualifications we are seeking for this role, but if you feel you have many, please apply.

Assets of most interests include the following:

• A strong personal commitment to racial and economic justice and an ability to apply a racial justice lens to your work.
• Ability to work cross-culturally to achieve understanding and results. Ability to establish and maintain trust with a diverse set of partners.
• Minimum of 7 years of experience in the lending industry.
• Ability to read and interpret loan documents.
• Experience in loan underwriting and credit analysis.
• Strategic thinking – demonstrates the ability to analyze the Organization’s competitive position.
• Ability to gain others’ support for ideas, proposals, projects, and solutions.
• Sense of humor.
• Display emotional intelligence and the ability to withstand pressure on an on-going basis. Deal with difficult situations while maintaining performance and professionalism.
• Outcome focused.
• Thorough knowledge of credit and collection laws.
• In-depth knowledge of CDFIs, consumer, and small business lending.
• Interest in cooperative ownership models.
• Knowledge of community development principles.
• Ability to represent the interests of MCCD at all levels of government and with the community and civic leadership.
• Works ethically and with integrity; upholds organizational values; accepts responsibilities for own actions.

Compensation and Benefits

SALARY RANGE: $80,000 – $95,000 per year

BENEFITS:

• Hybrid work schedule.
• Medical & Dental Insurance 100% paid by the organization for the employee and employee’s partner and/or family.
• 403(b) Plan – Eligibility starts at date of hire, MCCD will match contributions up to 5%. Employees are 100% vested at the date of hire.
• Life Insurance – MCCD provides and pays for a benefit level up to $50,000.
• Long-Term Disability & Accidental Death and Dismemberment – MCCD provides this at no cost to the employee.
• Holidays – MCCD provides 10 employee-determined paid holidays
• Paid Time Off – For the first two years of service, employees accrue 18.5 days (148 hours) annually.
• Parental Leave – Eight weeks paid parental leave for employees who have given birth, adopted or are fostering a child. (Employee may be a spouse or committed partner who has given birth to a child)
• End of Year Respite – MCCD closes its office for the last week of the calendar year.
• Professional Development – Annual allowance for the employee’s professional development activities.
• Wellness – MCCD provides it’s staff with quarterly wellness activities.
• MCCD is a dog-friendly office environment! Based on the personalities of the pups, we may rotate dogs. Some don’t play well with others.

How to Apply

MCCD is committed to providing reasonable accommodation for applicants with disabilities. If you require any accommodation to participate in the recruitment process, please inform us when you apply for a position or contact the office at (612) 789-7337 to request assistance.

Email application materials to [email protected]. Application should include a resume, and cover letter in one PDF. The resume and cover letter should reflect your motivation to work at MCCD and how your experiences will advance our work to create more equitable communities.

MCCD IS AN EQUAL OPPORTUNITY EMPLOYER

Black, Indigenous, People of Color (BIPOC), LGBTQIA+, people with disabilities, women and non-binary persons, veterans, and bilingual individuals are strongly encouraged to apply.