Underwriter (contract)

Background

Founded in 2013, Appalachian Community Capital (ACC) is a Community Development Financial Institution (CDFI) serving member CDFIs across the 13-state footprint of Appalachia with a mission to increase small business lending across this underserved and primarily rural region. By providing capital, capacity building, and innovative programming to its members, ACC catalyzes entrepreneurship, opportunity, and growth in distressed communities. ACC has 43 members who manage over $4 billion in total assets. Investors and supporters of ACC include: the Appalachian Regional Commission, US Treasury CDFI Fund, the Ford Foundation, Goldman Sachs, Bank of America, Truist, US Bank, Wells Fargo, Benedum Foundation, Dogwood Foundation, Mastercard Foundation, and many others. Visit Appalachian Community Capital for more information.

Summary

ACC is seeking a skilled Underwriter to conduct financial underwriting on our 43-member institutions, all of which are Community Development Financial Institutions (CDFIs). The Underwriter will focus on assessing the financial health and risk associated with these institutions, ensuring they align with ACC’s financial standards and regulatory requirements.  The contractor will report to the President and CEO of ACC.

The complete Scope of Services is provided in the RFP, and includes:

• Conduct detailed financial analysis and underwriting on CDFIs seeking financing from ACC, focusing on their financial statements, operational performance, and compliance with financial regulations.
• Prepare and present underwriting reports to ACC’s CEO and loan committee members.
• Conduct an annual Portfolio Review and quarterly Portfolio Risk Assessments.
• Develop risk mitigation strategies.
• Remain current with financial regulatory changes that impact CDFI operations and underwriting criteria.
• Undertake quarterly trainings for ACC member CDFIs related to loan underwriting.

Responsibilities

• Conduct detailed financial analysis and underwriting on CDFIs seeking financing from ACC, focusing on their financial statements, operational performance, and compliance with financial regulations.  It is anticipated that 12 CDFIs will require underwriting annually.
• Assess the creditworthiness and financial stability of CDFIs applying for funding, employing a thorough understanding of nonprofit accounting and financial services industry standards.
• Prepare and present underwriting reports to ACC’s CEO and loan committee members, highlighting potential risks and recommendations.
• Conduct an annual Portfolio Review and quarterly Portfolio Risk Assessments.
• Develop risk mitigation strategies.
• Remain current with financial regulatory changes that impact CDFI operations and underwriting criteria.
• Work closely with the finance and compliance teams to ensure all underwriting activities adhere to internal policies and external regulations.
• Undertake quarterly trainings for member CDFIs related to loan underwriting.

Requirements

• Proven experience in financial underwriting, specifically with CDFIs or similar financial service providers.  Five or more years of experience preferred.
• Strong proficiency in nonprofit accounting and financial analysis.
• Excellent analytical, decision-making, and problem-solving skills.
• Ability to communicate complex financial information clearly to non-financial stakeholders.
• Bachelor’s degree in Finance, Accounting, or related field; a Master’s degree or relevant certifications (e.g., CFA, CPA) is a plus.
• Experience living in or working with rural and underserved communities a plus.

Compensation and Benefits

What we offer –

• A pivotal role in supporting the financial stability and development of CDFIs.
• Opportunities for professional growth and development within the financial services sector.

This is a contract position and no benefits are provided.

How to Apply

Contractors seeking to provide services should submit the following:

• Description of relevant activities undertaken with clients, or in prior roles.
• Budget that provides rates and payment schedule, including any indirect costs.
• Biography/resume for all personnel noted in proposal.
• Organizational Background, if relevant.

Please provide a cover letter and the above information in one pdf to Kelli Bryant [email protected]. Review of submissions will begin upon receipt.