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Community Development Assistant for Lending Local Initiatives Support Corporation - New York (LISC NYC)
New York, NY
Job Function: Lending/Loan Operations
Posted: December 7, 2018

Background:

Position Opening
Local Initiatives Support Corporation

POSITION TITLE: Community Development Assistant for Lending
REPORTS TO: LISC NYC Director of Lending
JOB CLASSIFICATION: Non-Exempt / Full Time
LOCATION: New York City
¬¬¬¬¬¬¬¬¬¬¬¬______________________________________________________________________________

THE ORGANIZATION:

What We Do
With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families.
Strategies We Pursue

Equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities.

Invest in businesses, housing and other community infrastructure to catalyze economic, health, safety and educational mobility for individuals and communities.

Strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places.

Develop leadership and the capacity of partners to advance our work together.

Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.

Over the last 39 years, LISC and its affiliates have invested approximately $20 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment and other projects that help to revitalize and stabilize underinvested communities. Headquartered in New York City, LISC’s reach spans the country from East coast to West coast in 32 markets with offices extending from Buffalo to San Francisco. Visit us at www.lisc.org.

Position Summary:

The New York City office of the Local Initiatives Support Corporation (LISC NYC) seeks a professional to fill the position of Community Development Assistant for Lending. This position reports to the LISC NYC Director of Lending and works closely with a team of Community Development Officers. The local New York City program, LISC NYC, works with nonprofit, community-based organizations to develop affordable housing, commercial enterprises and community facilities. Since its founding in 1979, LISC NYC has invested over $2.7 billion, leveraging an additional $6 billion in low-income communities. This has resulted in nearly 40,000 affordable homes built and preserved as well as 1.8 million square feet of retail and community space created. We also invest in health, economic development, financial well-being and environmental sustainability so that the communities our partners serve are good places to live, work, do business and raise children. For more information visit http://www.lisc.org/nyc/.

Responsibilities:

• Assist LISC NYC lending staff in underwriting all types of real estate transactions requiring LISC pre-development, acquisition construction, or permanent loans, tax-exempt bond financing, Low Income Housing Tax Credit (LIHTC) and New Markets Tax Credit (NMTC) financing. Conduct financial modeling and presentations to affordable housing development sponsors.
• Assist LISC NYC staff in presenting loan recommendations to LISC’s credit committee. Perform credit analysis, including analyzing borrower operating performance, project financial performance, borrower management capacity, and project feasibility of affordable housing, economic development and mixed-use real estate projects.
• Coordinate with client organizations and internal stakeholders at LISC National regarding all aspects of loan origination and asset management, including assembling and synthesizing due diligence information, preparing credit memos for approval, generating closing checklists and project managing loan closings, and working with LISC asset management to monitor loans post-closing.
• Support LISC local program staff to develop and maintain relationships with client community partners and local government, among others.
• Assist LISC NYC staff in providing technical assistance to LISC NYC’s partners, including nonprofit community development corporations and private entrepreneurs, seeking to develop affordable housing, community facilities, and other types of community development real estate. Assistance includes the preparation of applications and documentation necessary for debt and equity financing, government subsidies, and rental contract maintenance.
• Work in cross functional teams under deadlines with private and nonprofit real estate developers, attorneys, governmental agencies, lenders, equity investors and other entities to structure and close affordable housing transactions.
• Support the launch and implementation of LISC NYC’s New York Land Opportunity Program (NYLOP) 2.0, which provides technical support to owners of HUD 202 senior housing seeking to preserve and possibly develop new affordable senior housing.
• Provide logistical and programmatic support to LISC NYC special events such as meetings, convenings, conferences, training workshops and tours.
• Perform other special projects and related duties as assigned.

Requirements:

Qualifications
• Associates or Bachelor’s degree from an accredited college or university in real estate, finance, urban planning, public policy or related field preferred.
• One or two years of professional work experience in lending, finance, community development or related field preferred.
• Comfort with financial analysis and excellent writing skills, with demonstrated ability to synthesize complex quantitative and qualitative information from multiple sources.
• Demonstrated ability to manage multiple, complex transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines.
• Commitment to the community development sector and the critical role of nonprofit organizations in driving social change, preserving affordable housing and fostering inclusive economic development.
• Conscientious and very detail oriented.
• Ability to simultaneously work on multiple tasks and set priorities for a challenging work load.
• Excellent technical skills, including competency in full Microsoft Office suite, particularly modeling in Excel.

Compensation:

LISC offers a competitive salary and excellent benefits.

LISC IS AN EQUAL OPPORTUNITY EMPLOYER
COMMITTED TO DIVERSITY AND INCLUSION

How to Apply:

Please send cover letter and resume via e-mail to:

Sam Marks
Executive Director
LISC NYC
501 Seventh Avenue, 7th Floor
New York, NY 10018
liscnycresumes@lisc.org

Community Development Officer for Economic Development Local Initiatives Support Corporation - New York (LISC NYC)
New York, NY
Job Function: Business Development
Posted: December 7, 2018

Background:

THE ORGANIZATION:

What We Do

With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families.

Strategies We Pursue

Equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities.

Invest in businesses, housing and other community infrastructure to catalyze economic, health, safety and educational mobility for individuals and communities.

Strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places.

Develop leadership and the capacity of partners to advance our work together.

Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.

Over the last 39 years, LISC and its affiliates have invested approximately $20 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment and other projects that help to revitalize and stabilize underinvested communities. Headquartered in New York City, LISC’s reach spans the country from East coast to West coast in 32 markets with offices extending from Buffalo to San Francisco. Visit us at www.lisc.org.

Position Summary:

Position Description
The New York City office of the Local Initiatives Support Corporation (LISC NYC) seeks a professional to fill the position of Community Development Officer for Economic Development. This position reports to the LISC NYC Director of Lending and works closely with the Director of Policy. The local New York City program, LISC NYC, works with nonprofit, community-based organizations to develop affordable housing, commercial enterprises and community facilities. Since its founding in 1979, LISC NYC has invested over $2.7 billion, leveraging an additional $6 billion in low-income communities. This has resulted in nearly 40,000 affordable homes built and preserved as well as 1.8 million square feet of retail and community space created. We also invest in health, economic development, financial well-being and environmental sustainability so that the communities our partners serve are good places to live, work, do business and raise children. For more information visit http://www.lisc.org/nyc/.

Responsibilities:

Responsibilities
The Community Development Officer for Economic Development will be responsible for building a pipeline of real estate projects that foster inclusive economic development. The Community Development Officer will provide technical assistance and financing to LISC NYC’s nonprofit partners and other mission-aligned partners to develop projects that will ensure their neighborhoods have critical jobs, services and community assets to complement housing. Examples include multi-tenant industrial buildings, “maker spaces,” commercial spaces, community centers and arts and culture venues. While primarily responsible for economic development, the Community Development Officer will work in collaboration with other LISC NYC staff who focus on affordable housing, and may collaborate on mixed-use projects as well as participate in cross-training / cross-learning opportunities. In addition to sourcing, underwriting, and closing lending transactions, the Community Development Officer will also support the Director of Policy and other senior staff in shaping LISC NYC’s inclusive economic development strategy, sharing lessons learned across the field, measuring outcomes, and carrying out a policy and advocacy agenda that seeks to ensure that public and private investments generate middle skills jobs that provide economic mobility for low- and moderate-income people.

Specifically, the Community Development Officer for Economic Development will be focused on the following:

Business Development, Lending & Technical Assistance

• Develop and manage relationships with local economic development partners including community-based organizations, mission-driven developers, impact investors, financial institutions and local/state, agencies in order to grow LISC NYC’s pipeline of real estate projects that foster inclusive economic development.

• Provide loans and technical assistance to LISC NYC partners undertaking economic development related real estate projects. This includes assistance with assessing project feasibility, underwriting, developing financing strategies, lending, advising on the selection and coordination of third party consultants, and accessing financing via public subsidies and conventional sources.

• Conduct financial modeling for all types of real estate transactions and identify potential sources of financing including pre-development loans, construction and permanent loans, tax-exempt bonds, IDA bonds and New Market Tax Credits.

• Connect partner organizations with expertise and resources from LISC National programs such as small business lending, creative placemaking, and economic development; LISC affiliates such as the New Markets Support Corporation; and external consultants.

• Work under deadlines with cross-functional teams of private and nonprofit real estate developers, attorneys, governmental agencies, lenders, equity investors and title companies to structure and close economic development transactions.

Thought Leadership & Policy Systems Change

• Support the Director of Policy and senior staff to refine LISC NYC’s strategic approach to economic development, identify opportunities and partners, and match financing tools to economic development project needs.

• Assist in tracking the impact of LISC NYC’s inclusive economic development projects.

• Work closely with public sector agencies to identify and make available new resources for economic development real estate projects and partner with the LISC NYC Director of Policy to develop policy & advocacy solutions for economic development real estate.

• Contribute to LISC NYC’s thought leadership on inclusive economic development as a means of generating middle skills jobs that provide economic mobility for low-and moderate-income people, including helping to plan and carry out a convening for industry partners to share best practices.

• Collaborate with other champions of inclusive economic development, including key funders, represent LISC NYC as an expert on economic development lending, and share best practices at conferences, trainings and events.

• Prepare reports and findings for investors, funders and other stakeholders as needed.

• Work with LISC NYC staff to develop and implement programs that apply LISC’s technical assistance and financing capabilities to solve critical challenges identified through LISC NYC’s strategic planning process.

Requirements:

Qualifications
• Bachelor’s degree from an accredited college or university required. Master’s degree in real estate, finance, urban planning, public administration or related field highly preferred.
• At least 5 years of experience in lending, finance, community development or related field, with demonstrated experience in real estate development, particularly underwriting, deal structuring and financial analysis.
• Familiarity with the New York City area market, along with familiarity with city, state and federal government financing programs available to support economic development projects.
• Knowledge of financing products such as predevelopment, acquisition, construction, bridge and permanent loans; lines of credit; and tax credit equity.
• Demonstrated ability to manage multiple, complex transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines.
• Commitment to the community development sector and the critical role of nonprofit organizations in driving inclusive economic development and preserving the unique cultural heritage of neighborhoods.
• Ability to work collaboratively with co-workers and representatives from the nonprofit, corporate, philanthropic and public sectors, and demonstrated flexibility and poise in dealing with a diverse range of individuals and organizations.
• Entrepreneurial spirit and ability to work independently on multiple tasks and projects, set priorities fora challenging workload, and be a positive, solution-oriented professional.
• Excellent writing, financial analysis and verbal communication skills required.

Compensation:

Candidates with commensurate experience may be considered for the title Senior Community Development Officer for Economic Development.

LISC offers a competitive salary and excellent benefits.

How to Apply:

Please send cover letter and resume via e-mail to:

Sam Marks
Executive Director
LISC NYC
501 Seventh Avenue, 7th Floor
New York, NY 10018
liscnycresumes@lisc.org

LISC IS AN EQUAL OPPORTUNITY EMPLOYER
COMMITTED TO DIVERSITY AND INCLUSION

Acquisitions Associate The Community Development Trust (CDT)
New York, NY
Job Function: Finance
Posted: December 5, 2018

Background:

Established in 1999, The Community Development Trust (“CDT”) is a national Community Development Finance Institution (“CDFI”) and the first and largest private real estate investment trust created for the development and preservation of affordable housing. Over our 19-year history, CDT’s focus has been on providing debt and equity capital to support affordable rental housing communities. CDT has invested over $1.6 billion in multifamily communities in 44 states and regions.

Position Summary:

The Acquisitions Associate will assist in managing the evaluation, acquisition, and, in some cases, rehabilitation of existing affordable housing properties throughout the United States. CDT forms joint ventures with experienced affordable housing operators to acquire and preserve existing income- and rent-restricted (LIHTC, Section 8, etc.) properties.

The primary responsibility for the Acquisitions Associate will be to quickly analyze and underwrite potential investment opportunities and provide CDT’s Community Investments staff with feedback on the potential risks and benefits of each opportunity. For approved investments, the Acquisitions Associate will coordinate with various departments at CDT to ensure a successful closing.

Responsibilities:

DUTIES AND RESPONSIBILITIES:

1. Collaborate with CDT’s senior staff and joint venture operating partners to conduct an initial feasibility analysis for potential acquisitions. Quickly and independently identify whether the property, partner, and business plan for the acquisition are consistent with CDT’s investment criteria.
2. Identify and obtain critical due diligence information for underwriting purposes.
3. Review and analyze financial statements, rent rolls, loan documents, regulatory agreements, and other due diligence information to underwrite the potential investment.
4. Adjust and customize CDT’s Microsoft Excel-based equity investment model according to the unique terms of and business plan for each transaction.
5. Identify the most significant risks and opportunities for each transaction and effectively communicate these to senior staff.
6. Coordinate third party reports and site inspections.
7. Compose Investment Proposals for submission to the Program & Investment Committee.
8. Manage the closing process and any required lender underwriting of CDT.
9. In some cases, monitor construction progress and process construction requisitions with CDT’s joint venture partners.

Requirements:

Bachelor’s Degree plus 1 – 3 years relevant experience.

Compensation:

Salary commensurate with experience plus bonus potential.

How to Apply:

Please send cover letter and resume to: jobpostings@cdt.biz

Controller National Housing Trust
Washington, DC
Job Function: Accounting
Posted: December 3, 2018

Background:

The National Housing Trust is a strong national nonprofit engaged in affordable housing advocacy, community lending, real estate development, and energy solutions. Our mission is to preserve and improve affordable multifamily homes to support quality, healthy neighborhoods with a range of housing options so that families of all income levels have an opportunity to thrive. NHT is an award-winning nonprofit with a focused agenda. The ideal applicant thrives in a fast-paced environment, working with dedicated and entrepreneurial colleagues.

Position Summary:

The Controller reports to the CFO and leads the day-to-day operations of the finance and accounting department. He/she is responsible for oversight of all finance, accounting and reporting activities, along with establishing, monitoring and enforcing accounting policies and procedures. He/she is responsible for preparation and distribution of all NHT entity internal financial statements to management, maintenance of the organization’s general ledger, review of reconciliations, managing the year-end audit process and ensuring that all transactions and documentation complies with US GAAP.

Responsibilities:

- Manage daily activities for the finance and accounting department, ensuring staff have prioritized duties and are completing required assignments.
- Oversee all financial, project/program and grants accounting; ensure that expenditures are consistently aligned with grant and program budgets throughout the grant/fund period; collate financial reporting materials for government, corporate, and foundation grants.
- Manage the monthly closing process for all NHT entities, including reconciliations and analysis of related accounts; while maintaining the chart of accounts.
- Ensure intercompany allocations are appropriate and correct and that intercompany billings are generated and paid monthly.
- Prepare monthly investment schedules and related journal entries.
- Develop and maintain the integrity of the financial reporting process and financial controls.
- Maintain, update, and if necessary, develop standard operating policies and procedures, in conjunction with CFO, ensuring they are documented.
- Research and resolve accounting issues including evaluation and implementation of new accounting pronouncements to ensure US GAAP compliance.
- Assist NHT’s CFO and senior leadership in the annual budgeting and planning process; administer and review all financial plans and compare to actual results with a view to identify, explain, and correct variances as appropriate.
- Coordinate audits with the external auditors.
- Manage organizational cash flow forecasting by working in partnership with colleagues and department managers; collaborate with department managers to assess the financial efficacy of program operations and establish finance and administrative systems to support program operations.
- Consistently analyze financial data and present financial reports in an accurate and timely manner; clearly communicate monthly, quarterly, and annual financial statements; monitor progress and changes and keep senior leadership abreast of NHT’s financial status.
- Partner with the CFO to lead and support key finance strategic initiatives, such as developing management P&Ls, actual and expected profitability models and metrics, performance dashboards, and forecasts.

Requirements:

This is an extraordinary opportunity for a mature leader with five to ten years of accounting and finance experience, She/he will ideally have experience in a complex nonprofit that has multiple programs. Specific requirements include:
- Minimum of a BA and CPA with public accounting experience.
- Experience with GAAP and not-for-profit accounting principles, practices and regulations; real estate, consolidation, and loan accounting strongly preferred.
- Advanced knowledge of accounting and reporting software; experience with Sage Intacct preferred.
- Commitment to recruiting, mentoring, training, and retaining a diverse team; with the foresight and ability to delegate accordingly.
- Keen analytic, organization and problem-solving skills which allows for strategic data interpretation versus simple reporting.
- Ability and desire to translate complex financial concepts to individuals at all levels including finance and non-finance managers.
- Leverage strengths of the current finance team members, helping to clarify roles and responsibilities, while transferring knowledge.
- Provide leadership in strengthening internal communications with staff at all levels throughout the organization; create and promote a positive and supportive work environment.
- Personal qualities of integrity, credibility, and unwavering commitment to NHT’s mission; a proactive, hands-on strategic thinker who will own, in partnership with the CFO, the responsibility for finance.

Compensation:

Base Salary—commensurate with experience.

How to Apply:

If you are interested in this position, please email your resume and a brief cover letter explaining why you are a great fit to hr@nhtinc.org. Please keep cover letters short and specific to job description. Please write "Controller" in the subject line of the email. No phone calls.

Market Maket IFF
Chicago, IL
Job Function: Finance
Posted: November 29, 2018

Background:

The Organization

IFF improves the world by strengthening nonprofits and the communities they serve. As a mission-driven lender, real estate consultant, and developer, IFF helps communities thrive by creating opportunities for low-income communities and persons with disabilities. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Across the Midwest, we help clients from every sector, including human service agencies, health centers, schools, affordable housing developers, and grocery stores. Staff contributes its extensive business experience with an unrivaled connection to the mission of IFF and the nonprofit clients it serves.

IFF is looking for candidates with a commitment to the work it does and can demonstrate their creativity, detail-orientation, diligence, efficiency, enthusiasm, flexibility, organization, thoughtfulness, and sense of humor.

Our staff of about 100 professionals works from our Chicago headquarters, and we also serve the Midwest from six regional offices: Indianapolis, IN; Detroit, MI; Kansas City, MO; St. Louis, MO; Columbus, OH; and Milwaukee, WI.

Position Summary:

Basic Job Function

The Market Maker will be responsible for accelerating the flow of capital between new and existing investors and nonprofits in IFF’s full service markets. The position will be located in Chicago, but will include additional geographic coverage of IFF’s Full Service Markets, which as of now includes Chicago, IL, Detroit, MI and St. Louis and Kansas City, MO. The Market Maker will sit between the supply and demand of capital to make markets more efficient by connecting stakeholders in the marketplace to the pipeline of projects cultivated by IFF.

The individual will cultivate a network of investors across the capital continuum, understand their requirements, structure funds as necessary to optimally utilize that capital, and leverage IFF’s knowledge and skillsets to make projects happen. The Market Maker will also early on develop a plan to develop the capacity to syndicate loans as a new, fee-based service offering. The Market Maker will report to the President Core Business Solutions and will work closely with the Senior Vice President Capital Solutions, the Chief Financial Officer, the President of the Social Impact Accelerator, the Executive Directors based in Detroit, Chicago, and St. Louis, and the Vice President of Strategic Partnerships & Resource Development. This is a new position for IFF and requires flexibility and adaptability as we learn more about how to best evolve this role.

Responsibilities:

Job Duties and Responsibilities:

1. Work with IFF colleagues to develop a pipeline of supply and demand of capital to advance complex nonprofit projects.

-Supply. Working in coordination with the VP Strategic Partnerships, Executive Directors and the President Social Impact Accelerator, develop relationships with key foundations and impact
investors to both ascertain their investing preferences (by geography, sector, and financing vehicle) and raise impact investments for IFF.

-Demand. Working with the SVP Capital Solutions, SVP Real Estate Solutions, Executive Directors and President Social Impact Accelerator, curate a pipeline of projects that require financing
aligned with the above supply of impact investing possibilities.

2. Lead IFF’s effort to create an off-balance sheet Community Facilities Fund (CFF), working closely with the President Social Impact Accelerator and CFO. Engage third party legal counsel and audit expertise to most effectively create a CFF which would raise direct equity and debt investments from IFF stakeholders. Work with Marketing Manager to create collateral material and with Communications to broadcast opportunities for impact investing into the CFF.
3. Develop a strategy and tactical plan to create a fee-based loan syndication offering for IFF. The plan would need to include specific guidance to IFF’s lenders about how to identify opportunities to offer this service, and how IFF would build the internal capacity to standardize an underwriting and structuring approach to these financing transactions.
4. Serve as the IFF “expert” on Opportunity Zones and work with the CFO, President Social Impact Accelerator and SVP Capital Solutions to best determine and refine IFF’s strategy for deploying these funds into IFF development projects and/or the establishment of an IFF Opportunity Zone Fund.
5. Other duties as assigned.

Performance Measures:

1. Creation of a Community Facilities Fund that meets IFF’s objectives (year1). On an on-going basis, the growth of the CFF to support transformative nonprofit facilities projects leveraging multiple strands of impact investor equity and debt.

2. The development of an approved strategic and operational plan to introduce loan syndication services.

3. Leadership in building IFF’s role as Market Maker, including diversification of IFF’s investor base and raising agreed upon levels of impact investments.

4. Cultivates a culture of openness in information sharing. Encourages open communication, cooperation, and the sharing of knowledge.

5. Models personal accountability that promotes ownership and engagement.

6. Builds and maintains effective working relationships with colleagues, peers and team members.

7. Values and supports differences in others, contributing to an inclusive work environment. Demonstrates the ability and willingness to communicate effectively with people of diverse backgrounds and experiences to create a collaborative, collegial, and caring community.

8. High level of satisfaction with both internal colleagues and external contacts.

Requirements:

Position Qualifications:

Education: Master’s Degree in business, management, community development, or a related field.

Experience:Ten years of experience with increasingly responsible management and financial roles and a comprehensive working knowledge in community development finance, human services, real estate development or a related field.

1. Experience with federal and other government funding programs required.

2. Experience with investors and investment products required.

3. Experience with financial packaging and structuring preferred (e.g., New Markets Tax Credits).

4. Demonstrated leadership and management skills and a track record of career growth and success.

5. Excellent written and oral communication skills and excellent interpersonal skills.

6. Ability to recognize and communicate strategic opportunities.

Unusual Requirements: Regular travel throughout the assigned region and periodic travel nationally. Occasional evening and weekend work.

Compensation:

Compensation package will be addressed at time of phone screening

How to Apply:

Application Instructions: Please submit a cover letter, resume and salary requirements to careers@iff.org with "Market Maker” in the subject line of the email.

Loan Officer Business Center for New Americans
New York City, NY
Job Function: Lending/Loan Operations
Posted: November 29, 2018

Background:

The Business Center for New Americans (BCNA) is an award winning Small Business Administration (SBA) Approved Microloan Intermediary Lender and is certified as a Community Development Financial Institution (CDFI) by the CDFI Fund at the US Department of Treasury. To date, we have made over $22 million in micro and small business loan which range from $500 to $250,000.
BCNA is a 401(c)(3) non-profit with the mission of creating a a pathway to self-sufficiency for immigrant and refugee entrepreneurs in New York City by providing access to affordable credit, empowering them with financial education, and offering training in best business practices. More information is available at www.nybcna.org.

We are currently looking to expand our lending services and have an excellent opportunity for a Loan Officer to be based in our main office in downtown Manhattan, with some work at our Jackson Heights office.

Position Summary:

Job Description Summary

Reporting to the Director of Lending, the Loan Officer will share in the management of BCNA loan accounts, including underwriting; pre and post loan technical assistance to individual clients; collections, file management and reporting; outreach and marketing. The goal of BCNA’s microloan program is to help under-served small business entrepreneurs by providing access to micro-loans in order to help participants increase assets, income, and independence through their successful ownership of businesses.

Responsibilities:

Responsibilities

• Underwrite small business loans up to $50,000.
• Prepare comprehensive credit memoranda for Loan Committee review, based on loan application data and other pertinent information collected from the loan applicant(s) and various sources.

• Prepare spreadsheet and analyze loan client financial statements and tax returns using internal computer systems and files.

• Ensure that all credit memoranda are accurate and complete with proper loan structuring, identify risk analysis and risk mitigation strategies, and adhere to BCNA’s Loan Policy and Procedures.

• Maintains clients’ records as defined in BCNA’s Loan Policy and Procedures.

• Attend Loan Committee meetings and, as needed, participate in credit discussions with Loan Committee members.

• Participate in marketing and outreach.

Requirements:

Requirements

• Minimum 2-3 years experience in credit analysis of small business loans in a non-profit or for-profit environment. CDFI experience a plus.

• Bachelor’s degree, preferably in business, finance or economics.

• Strong English verbal and written communications skills.. Proficiency in Spanish is strongly preferred.

• Working knowledge of credit principles, policies, practices and financial / cash flow analysis. Excellent mathematical, analytical and computer skills, including strong proficiency with Excel and databases.

• Desire to work in a multicultural environment; commitment to working with refugees and immigrants. Ability to work with clients in a respectful and understanding manner, to maintain confidentiality and to coordinate and prioritize to meet specified deadlines.

• Knowledge of NYC with willingness and ability to travel to engage in marketing and outreach activities. Normal office hour are 9:00 a.m. to 5:00 p.m Availability to work occasional evenings and weekend days to attend meetings, seminars and community events and to travel for multi-day conferences.

Compensation:

Salary range
$55.000-65,000 depending on experience and qualifications.

Benefits
Competitive benefits package including 3 weeks’ vacation with increase to 4 weeks after one year; 12 paid holidays, 8 sick days, 2 personal days; medical and dental insurance; 403(b) Plan. Opportunities for professional development.

How to Apply:

Please include a cover letter with your resume. Respond to hr@nybcna.org.

Loan Officer Business Center for New Americans
New York City, NY
Job Function: Lending/Loan Operations
Posted: November 29, 2018

Background:

The Business Center for New Americans (BCNA) is an award winning Small Business Administration (SBA) Approved Microloan Intermediary Lender and is certified as a Community Development Financial Institution (CDFI) by the CDFI Fund at the US Department of Treasury. To date, we have made over $22 million in micro and small business loan which range from $500 to $250,000.
BCNA is a 401(c)(3) non-profit with the mission of creating a a pathway to self-sufficiency for immigrant and refugee entrepreneurs in New York City by providing access to affordable credit, empowering them with financial education, and offering training in best business practices. More information is available at www.nybcna.org.

We are currently looking to expand our lending services and have an excellent opportunity for a Loan Officer to be based in our main office in downtown Manhattan, with some work at our Jackson Heights office.

Position Summary:

Job Description Summary

Reporting to the Director of Lending, the Loan Officer will share in the management of BCNA loan accounts, including underwriting; pre and post loan technical assistance to individual clients; collections, file management and reporting; outreach and marketing. The goal of BCNA’s microloan program is to help under-served small business entrepreneurs by providing access to micro-loans in order to help participants increase assets, income, and independence through their successful ownership of businesses.

Responsibilities:

Responsibilities

• Underwrite small business loans up to $50,000.
• Prepare comprehensive credit memoranda for Loan Committee review, based on loan application data and other pertinent information collected from the loan applicant(s) and various sources.

• Prepare spreadsheet and analyze loan client financial statements and tax returns using internal computer systems and files.

• Ensure that all credit memoranda are accurate and complete with proper loan structuring, identify risk analysis and risk mitigation strategies, and adhere to BCNA’s Loan Policy and Procedures.

• Maintains clients’ records as defined in BCNA’s Loan Policy and Procedures.

• Attend Loan Committee meetings and, as needed, participate in credit discussions with Loan Committee members.

• Participate in marketing and outreach.

Requirements:

Requirements

• Minimum 2-3 years experience in credit analysis of small business loans in a non-profit or for-profit environment. CDFI experience a plus.

• Bachelor’s degree, preferably in business, finance or economics.

• Strong English verbal and written communications skills.. Proficiency in Spanish is strongly preferred.

• Working knowledge of credit principles, policies, practices and financial / cash flow analysis. Excellent mathematical, analytical and computer skills, including strong proficiency with Excel and databases.

• Desire to work in a multicultural environment; commitment to working with refugees and immigrants. Ability to work with clients in a respectful and understanding manner, to maintain confidentiality and to coordinate and prioritize to meet specified deadlines.

• Knowledge of NYC with willingness and ability to travel to engage in marketing and outreach activities. Normal office hour are 9:00 a.m. to 5:00 p.m Availability to work occasional evenings and weekend days to attend meetings, seminars and community events and to travel for multi-day conferences.

Compensation:

Salary range
$55.000-65,000 depending on experience and qualifications.

Benefits
Competitive benefits package including 3 weeks’ vacation with increase to 4 weeks after one year; 12 paid holidays, 8 sick days, 2 personal days; medical and dental insurance; 403(b) Plan. Opportunities for professional development.

How to Apply:

Please include a cover letter with your resume. Respond to hr@nybcna.org.

Commercial Loan Processor Craft3
Astoria, OR
Job Function: Financial Services
Posted: November 27, 2018

Background:

Craft3 is a nonprofit Community Development Financial Institution (CDFI) with a mission to strengthen economic, ecological and family resilience throughout Oregon and Washington communities. We do this by providing loans to entrepreneurs, nonprofits, individuals, including those without access to traditional financing. We then complement these financial resources with our expertise, professional connections and other advocacy for our clients. Learn more at www.craft3.org

Position Summary:

POSITION PURPOSE
Responsible for providing on-going preparation and monitoring of customer documentation and loan servicing functions; coordination of lending process including loan documentation and closing; gather and compile data and prepare various reports; billings, payments and collateral filings; create and maintain loan files (either electronic or paper) for audit and review by external or internal staff; deliver correspondence to multiple parties, and provide excellent customer relations. Provide on-going support to portfolio administration, lending, and risk management teams.

Responsibilities:

ESSENTIAL DUTIES AND RESPONSIBILITIES include some or all of the following and are not intended to be all-inclusive. Craft3 reserves the right to change, add or delete responsibilities and duties as seen fit. An employee’s specific job duties, priorities, and performance expectations are detailed in his/her individual performance plan.

Portfolio Administration
• Set up and maintain electronic files following established standards, ensuring protocols for electronic file set up and maintenance are adhered to.
• Integrate and format loan files obtained from the procurement of third-party loan portfolios.
• Provide support for implementation of annual portfolio audit.
• Provide administrative support to lending team and risk management.
• Update Portfolio Administration Guide SOP as delegated.
• Research and resolve commercial loan related problems and respond to internal and external inquiries.

Loan Servicing
• Responsible for securing and releasing insurance interests and accurately perfecting collateral including but not limited to: Deeds of Trust/Mortgages, Preferred Marine Mortgages, UCCs, and vehicle titles
• Manage client correspondence and servicing and provide assistance to risk management and lending staff in their efforts.
• Prepare loan payoff statements and reconveyances timely and with accuracy.
• Provide annual loan history statements and applicable tax reporting documents (Form 1098).
• Enter and maintain loan data in Craft3’s loan servicing systems, ensuring data integrity and quality; address any discrepancies in data accuracy in a timely manner with lenders and Risk Management.
• Keep accurate notes and covenants in CRM to ensure compliance with all reporting requirements.
• Manage real estate collateral details in property tax monitoring system.
• Independently conduct loan file audits to ensure data and system integrity.
• Work with Finance to create monthly internal and quarterly external reports; identify and correct errors, in consultation with others.
• Protect the confidentiality of all customer information.
• Process closed and completed or paid loan files.
• Work with other team members to resolve errors and to prepare “lessons learned” to support a culture of continuous improvement across commercial lending.
• Continuously review processes, reports, and systems with an effort to identify and implement efficiencies in consultation with others.

Requirements:

MINIMUM EDUCATION AND WORK EXPERIENCE REQUIREMENTS
High School Diploma or equivalent required. Minimum three years related experience and/or training clerical experience in a commercial lending environment; including loan processing, documentation, funding, and strong administrative skills.

Compensation:

Craft3 offers a competitive salary of $38,500 - $64,500 annually, based on experience and skills. Craft3 offers an excellent benefits package including medical, dental, vision, Life/AD&D, LTD/STD insurance, paid sick and vacation leave, volunteer time off, wellness program, transportation, flexible schedule, and 403B Retirement savings plan with employer match.

How to Apply:

Application deadline is Friday, December 21, 2018.
Complete job description and online application at: www.Craft3.org/Careers/Jobs, or copy and paste this URL into your web browser:
https://workforcenow.adp.com/mascsr/default/mdf/recruitment/recruitment....

For more information on our benefits, visit our website at: www.Craft3.org/Careers/benefits

Craft3 is an equal opportunity employer; women and minorities are encouraged to apply.

Director of Lending Operations Capital Impact Partners
Arlington, VA
Job Function: Lending/Loan Operations
Posted: November 26, 2018

Background:

Capital Impact Partners, headquartered in Arlington, VA, operates nationally, with local offices in Detroit, MI, and Oakland, CA. For over 35 years, Capital Impact Partners has been a nonprofit mission driven lender that has supported the development of low-income underserved communities nationwide, focusing in five key sectors - health care, education, healthy foods, housing and aging. Capital Impact is also supporting the redevelopment of Detroit through multiple partnerships with banks and foundations.

Position Summary:

Capital Impact Partners seeks a Director of Lending Operations to strengthen the Loan Servicing, Loan Accounting, Construction and Closing, Fund and Program Operations, and Data Reporting teams. The Director of Lending Operations is directly responsible for the management of the operational risks associated with Capital Impact Partners’ robust, complex, and growing lending business. The Director will work closely with the Chief Risk Officer (CRO) regarding vision, processes/procedures, enterprise risk management, and information management needs. The Director will collaborate with direct reports and other adjacent teams to ensure consistent and efficient operations that reliably support the lending business, the lending products in use and being developed, and the information transfer and communication within the Operations group. In addition, the Director will ensure active management and oversight of data capture and use, and maintain strong cross-group collaboration for loan and borrower management.

Responsibilities:

Loan Servicing: Provide oversight to the Manager of Loan Servicing and ensure that the day-to-day activities of the loan administration function adhere to policies and procedures, guaranteeing that said policies are kept current and reflect the ongoing business requirements of Capital Impact’s lending activities;
Construction and Closing: Provide oversight to the Manager of Construction Services and the Closing Manager to ensure that critical functions related to construction management, disbursements, document management, and the closing process are efficient, clear, have the proper controls and reviews in place, and are aligned with Capital Impact’s lending products and initiatives;
Fund and Program Operations: Provide oversight to the Manager of Fund and Program Operations to identify methods for automating work, either with existing systems or in identifying supporting systems. S/He will be responsible for an efficient and documented workflow, clear procedures, effective coordination between the Operation group and the Originations and Legal teams;
Loan Accounting: Provide oversight to the Senior Manager of Loan Accounting to ensure that activities, reviews, approvals, and controls are sufficient for the balancing of the loan accounting system and the information reported in the general ledger, while also ensuring that the department is working efficiently and accurately;
Data Reporting: Provide close coordination with the Chief Risk Officer, Director of Portfolio and Asset Management, and the Finance Department to oversee the reporting functions for lending and portfolio management, including routine and special reports related to the portfolio;
Compliance and Audits: Act as the liaison between the Accounting/Finance and Compliance departments in matters involving compliance related to lending data reporting; loan administration, such as loan payment activity; external audits by financial auditors; external credit audits; and internal control audits.

Requirements:

Bachelor’s degree in Business, Finance, or Accounting. Advanced degree in either Accounting or Finance preferred
10 or more years of operational experience in the financial services or accounting industry
7 years experience managing a multi-functional group, with the ability to direct and influence others and gain support for ideas and initiatives
Knowledge of and experience in operational excellence practices (Lean Six Sigma, etc.)
Experience with establishing key metrics for performance indicators
Working knowledge of lending operations, technology, and processes; extensive understanding of the lending ecosystem and concepts
Knowledge of loan structures and credit documentation
Experience with the servicing function and an understanding of general ledger and reconciling functions
Demonstrated experience interacting with external auditors and rating agencies
Excellent verbal and written communication skills
Strategic thinker with strong analytical and problem-solving skills and attention to detail
Ability to manage multiple priorities while maintaining performance and professionalism
Proficiency with Microsoft Office (particularly Word, Excel and PowerPoint), Google Suite, McCracken Loan Accounting Servicing, and other related systems
Excellent time management skills, self-motivation, creativity, and initiative

Compensation:

$125,000 - $155,000

How to Apply:

https://workforcenow.adp.com/mascsr/default/mdf/recruitment/recruitment....

Construction Services Manager Capital Impact Partners
Arlington, VA
Job Function: Project Management
Posted: November 26, 2018

Background:

Capital Impact Partners, headquartered in Arlington, VA, operates nationally, with local offices in Detroit, MI, and Oakland, CA. For over 35 years, Capital Impact Partners has been a nonprofit mission driven lender that has supported the development of low-income underserved communities nationwide, focusing in five key sectors - health care, education, healthy foods, housing, and aging. Capital Impact is also supporting the redevelopment of Detroit through multiple partnerships with banks and foundations.

Position Summary:

Capital Impact Partners seeks a Construction Services Manager to strengthen its Closing and Construction Group. The Construction Services Manager is responsible for daily oversight and management of the Construction Services Specialists. The ideal candidate will have a passion for work in community development and social impact, 4-6 years of experience in managing a construction loan closing checklist, understanding of loan structures and documentation, and experience in commercial construction loan administration. Knowledge of New Markets Tax Credits (NMTC) and Community Development Financial Institutions (CDFIs) is helpful.

Responsibilities:

The Construction Services Manager will:
Initiate calls and communication with new/prospective construction loan borrowers and will provide support to the Closing team for collection and review of construction loan documents for construction loans pre-closing;
Work closely with the Closing Manager, Lending staff, and the Legal team to address pre-closing issues, resolve problems during the construction period, and closely manage the unique risks of construction lending;
Participate as required, on assigned loan closing calls and review all construction-related contracts, legal documents, and loan documents; and
Facilitate monthly training sessions for Construction Services staff as well as bi-annual training sessions for the Lending staff.

Requirements:

Bachelor’s degree required
3-5 years working in a lending environment
1-2 years of managing one or more direct reports
Extensive experience in commercial construction loan management
Knowledge of various kinds of insurance coverage, understanding of insurance language, and understanding of the claim and renewal process, as it relates to construction lending
Ability to analyze due diligence reports required to underwrite a commercial real estate loan; able to refer to credit guidelines regarding due diligence; understanding of closing checklist items
Expertise in various loan structures, including multiple-party involvement and investor-funded lending initiatives
Effective attention to detail, work style, multi-tasking, and oral and written communication
Excellent client relations, both internal and external
Capacity for independent and team-based work for improved efficiency and knowledge sharing
Proficiency in Microsoft applications, SalesForce, Google Suite, and Moody’s Lending Cloud
Willingness to learn and use in-house software systems as needed

Compensation:

$90,000-$110,000

How to Apply:

https://workforcenow.adp.com/mascsr/default/mdf/recruitment/recruitment....

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