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.orgSubmissions 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.

Public Policy Manager Community Development Bankers Association
Washington DC, DC
Job Function: Advocacy/Policy
Posted: January 18, 2018

Background:

Community Development Bankers Association (CDBA) is the national trade association of FDIC-certified Community Development Financial Institution (CDFI) banks and thrifts. Our members are mission-focused institutions that provide lending, financial services, and technical assistance in disinvested urban, rural and Native American communities across the United States.  We are the voice of the CDFI and mission focused banking sector through public policy advocacy, promoting industry best practices, and peer networking.  Go to www.cdbanks.org for more information about CDBA.

Position Summary:

We are seeking a high energy and dynamic candidate for the position of Public Policy Manager.  The Manager will advance our public policy advocacy agenda. The position reports to Chief Executive Officer, but works with all members of the team.  This is a full time 40 hour per week position.  The position is located at PCG’s offices in Washington DC.

CDBA is managed under an administrative agreement with Partners for the Common Good (PCG). The Public Policy Manager will be an employee of PCG, but principally assigned to duties to support its work with CDBA.

Responsibilities:

  • Stay abreast of regulatory and legislative developments that affects Federal community development programs and financial services
  • Analyze regulatory proposals and policies to assess impact on the membership and the low income communities they serve
  • Participate in drafting public comment letters and testimony
  • Analyze, compile and disseminate research, data, and written materials on the industry to support education and advocacy efforts
  • Solicit input from CDBA members to formulate policy positions
  • Coordinate advocacy campaigns, including organizing annual appropriations outreach to Capitol Hill
  • Coordinate Congressional visits for spring CDBA Advocacy Day and year round meetings
  • Build, maintain and utilize database of legislative contacts and membership education and advocacy participation
  • Maintains data base on CDFI Fund program awards, as well data on impact of CDBA members
  • Responsible for researching and initial drafting “thought leadership” articles and OpEds for biweekly CDBA newsflash or external publications by CEO, Board members or other industry representatives
  • Represent CDBA among aligned community development and financial services trade and advocacy groups
  • Participate in event planning for annual conference, workshops, webinars and conference calls
  • Execute special projects and provide general support to the membership. 
  • Other duties as assigned

Requirements:

  • Passion for community development finance and improving the lives of people in underserved communities
  • 3-5 years of experience in public policy or advocacy with a particular focus on community development and/or financial services
  • Experience working on Capitol Hill is a plus.
  • Strong analytical and research skill
  • A proactive self-starter with the ability to multi-task, excellent time management and organizational skills and attention to detail
  • Strong writing skills are essential
  • Strong verbal communication, networking, relationship management, and customer skills
  • Good people skills with a strong team orientation  
  • Ability to multi-task in a fast paced environment
  • Good project management skills 
  • Bachelor’s degree required, Masters preferred
  • Experience using Salesforce customer relationship management (CRM) solutions is a plus
  • Basic computer and research skills along with familiarity with MS Office (Excel, Word, PowerPoint) and the internet is a must
  • Applicants must be U.S. citizens

Compensation:

Competitive nonprofit sector salary commensurate with experience.  Collegial work environment.  Good benefits package available.

How to Apply:

Interested individuals should send a resume, cover letter, professional writing sample and three references to:  CDBA, 1444 I Street NW, Suite 201 -- or info@cdbanks.org.  NO TELEPHONE CALLS PLEASE.

Refuge Community Loan Officer Womens Opportunities Resource Center
Philadelphia, PA
Job Function: Lending/Loan Operations
Posted: January 17, 2018

Background:

The Women’s Opportunities Resource Center (WORC), a nationally recognized non-profit organization, has 26 years of experience in promoting social and economic self-sufficiency for economically disadvantaged individuals—primarily women—and their families. WORC is the first microenterprise program targeted to low-income individuals in Philadelphia and one of the oldest in the nation. It offers a unique combination of self-employment/micro-enterprise training, support services, savings programs, and access to invaluable business and financial resources. In 1993, the agency became incorporated, however, WORC’s self-employment training and lending programs originated in the mid-80s in response to a nationally-funded study that identified a significant gap between the needs of women business owners in Philadelphia and the availability of business assistance and financing resources. The Family Savings Account program was designed and launched in collaboration with the Pennsylvania Department of Community and Economic Development in the late 1990s.

WORC today provides three major programs:

  1. Self-Employment Training,
  2. Microloans,
  3. Family Savings Account Program (FSA). 

WORC is also recognized as a leader in the field of Individual Development Accounts. In 1999 and 2005, the US Department of Health and Human Services selected WORC to participate in a national demonstration program to initiate Individual Development Accounts (IDAs) for new Americans. WORC, in partnership with established agencies, developed a successful statewide Refugee IDA program to promote asset accumulation, knowledge of the American system of banking and credit, and economic independence among refugees.

As a result, WORC's client base represents more than 40 different countries. We are looking for a dedicated and experienced professional who is committed to meeting the needs of underserved markets in the Philadelphia, PA region, particularly New Americans.

Position Summary:

WORC offers a range of small business financing products ranging from $500 to $50,000 and we link customers to a comprehensive array of financial education and other services provided by WORC.  Over the next several years, WORC/ EOF is looking to expand our market base and significantly increase our loan volume and deployed capital.  The ideal candidate has existing contacts with local financial institutions, economic development and business assistance organizations, community organizations, professional associations, economic development agencies and/or small business development centers and knowledge and experience working with refugees and immigrants.  

Responsibilities:

  • Originate/package and underwrite loans in accordance with production expectations. Package and close 10 loans per quarter. Submit loans with required documents and loan officer recommendation to MMS (LiftFund) for underwriting and present loans to the loan advisory council for approval where required.
  • Identify specific markets, populations, community groups, community leaders, and reach out and educate about loan products and development services available to recruit clients.
  • Work one-on-one with entrepreneurs and business owners throughout the lending process to identify and address financing and business development needs. 
  • Provide training and technical assistance. 
  • Monitor existing ORR and Immigrant loan clients and pro-actively address clients with challenges. Work with other business clients as requested.
  • Work cross-functionally with other departments to maximize new business development and marketing efforts across the organization.
  • Attend WORC staff and program meetings
  • Perform other related duties, as assigned.

Requirements:

  • A four-year degree from an accredited university in a relevant discipline.  
  • Minimum of two years’ experience in community or economic development lending, and/or microfinance with lending institutions, government loan programs or community lenders with a solid understanding of consumer financing rules and regulations.  
  • Good public speaker with demonstrated marketing, sales, and/or community organizing skills.
  • Organized self-starter with strong analytical skills and ability to multi-task.
  • Customer service oriented, patient, flexible, with ability to accept and give constructive feedback and a sense of humor.
  • Knowledge of Philadelphia and the surrounding four counties (preferred) with willingness and ability to travel throughout the area to engage in marketing and outreach activities.
  • Ability to work some evenings and weekend days to attend meetings, seminars and events.
  • Bilingual (French, Arab, Nepali, Burmese) - a plus.

Compensation:

Salary is commensurate with experience. Benefits include: vacation, paid holidays, health and pension plan.  WORC/EOF is an equal opportunity employer and the board of directors and staff value diversity in all aspects of employment.

How to Apply:

FOR CONSIDERATION: Please send a cover letter and resume along with salary requirements to {careers@worc-pa.com}  or fax to 215-564-0933.   Resumes will be accepted until the position is filled.

 

Investment Principal Charter Impact Fund
New York, NY
Job Function: Lending/Loan Operations
Posted: January 10, 2018

Background:

The Charter Impact Fund (CIF) is on a mission to transform the way charter schools secure long-term financing, by providing them with something radically simple: access to low-cost, long-term debt. We believe that this will give more students access to the outstanding education they deserve. We are start-up social impact fund with initial funding already secured, and we aim to be investing hundreds of millions in the next two years.

Our team is comprised of mission-oriented financial experts who are committed to partnering with schools to improve educational outcomes for all students, especially those from under-served neighborhoods. 

Position Summary:

The Investment Principal (IP) will have the exciting opportunity to make an immediate impact at CIF – and on the charter school sector as a whole – as a member of its founding team. The IP will actively grow the number of schools in the CIF portfolio by leveraging their existing networks and continuously prospecting for new schools to engage. Our ideal candidate will energetically and enthusiastically approach the sometimes-ambiguous work of a startup, and contribute to building a collaborative, team-oriented culture of excellence. 

Responsibilities:

The Investment Principal will be responsible for: 

  • Team management: Manage a team of underwriters and analysts to deliver outstanding service and exceed expectations. 
  • Business development and relationship management: Actively build pipelines of prospective clients and cultivate strong relationships with charter schools, management groups, and charter support organizations. Screen the prospects against the portfolio eligibility criteria to determine the feasibility of projects. 
  • Origination: Structure and underwrite transactions and prepare for credit committee approval. Manage a dashboard to track school-related information such as location, project data, enrollment, performance, and impact. 
  • Internal system development: Partner with the senior leadership team to develop systems, policies, and procedures for developing the portfolio, including origination, lending, and reporting. 
  • Organizational excellence: Participate in strategic planning and goal-setting process. 
  • External presence development: Build the image of the Fund nationally by establishing working relationships and cooperative agreements with community groups, government entities, and nonprofit and for-profit organizations. Represent the Fund publicly by attending public events, community meetings, professional functions, and events.
  • Policy and research: Monitor proposed legislation and policy matters related to programs and services offered. Identify and support research efforts to advance programs and services. 

Requirements:

Above all, our Investment Principal should be a driven, savvy, high achieving professional with expertise in the complicated mechanics of borrowing, lending, and charter school facilities. Other qualifications and qualities include:

  • Self-starter with over five years of related professional experience in lending or finance
  • At least three years of experience managing a team 
  • Expertise in charter school facilities financing strongly preferred
  • Top notch quantitative, financial modeling, and analysis skills
  • Track record of meeting and exceeding aggressive goals
  • Driven to develop, motivate, and inspire all members of the team, particularly direct reports
  • Outstanding organizational and time management skills
  • Extraordinary communication skills
  • Ability to produce high-quality work products under tight deadlines
  • Strong customer service orientation and ability to collaborate across functional areas
  • Thrives when working in a fast-paced, evolving environment on complex, high-impact initiatives 
  • Highly detail- and team-oriented
  • High degree of integrity and authenticity
  • Travel will be required from 25-50% of the time

Compensation:

Compensation is competitive, commensurate with experience. We are proud to offer extraordinary benefits, including unlimited PTO, as well as medical coverage and a 401(k) match.

How to Apply:

Send your resume, along with a cover letter that outlines your interest in the Charter Impact Fund, to crystal@charterimpactfund.org

Managing Investment Principal Charter Impact Fund
New York, NY
Job Function: Lending/Loan Operations
Posted: January 9, 2018

Background:

The Charter Impact Fund (CIF) is on a mission to transform the way charter schools secure long-term financing, by providing them with something radically simple: access to low-cost, long-term debt. We believe that this will give more students access to the outstanding education they deserve. We are start-up social impact fund with initial funding already secured, and we aim to be investing hundreds of millions in the next two years.

Our team is comprised of mission-oriented financial experts who are committed to partnering with schools to improve educational outcomes for all students, especially those from under-served neighborhoods. 

Position Summary:

The Managing Investment Principal (MIP) will have the exciting opportunity to make an immediate impact at CIF – and on the charter school sector as a whole – as a member of its founding senior leadership team. The MIP will do the critical work of building out and managing our investment department. This person will be responsible for the team that will actively grow the number of schools in the CIF investment portfolio by leveraging their existing networks and continuously prospecting for new schools to engage. Our ideal candidate will energetically and enthusiastically approach the sometimes-ambiguous work of a startup, and contribute to building a collaborative, team-oriented culture of excellence. 

Responsibilities:

The Managing Investment Principal will be responsible for: 

  • Hire and manage an investment team: Recruit a team to meet the goal of investing $200 million per year in high-quality charter schools. This team may include two investment principals, an underwriter, and two analysts. The managing principal will be responsible for leading this team to deliver outstanding service, exceed client expectations, and meet annual goals. 
  • Business development and relationship management: Actively build pipelines of prospective clients and cultivate strong relationships with charter schools, management groups, and charter support organizations. Screen the prospects against the portfolio eligibility criteria to determine the feasibility of projects. 
  • Origination: Manage the team to structure and underwrite transactions and prepare for credit committee approval. Manage a dashboard to track school-related information such as location, project data, enrollment, performance, and impact. 
  • Internal system development: Develop systems, policies, and procedures for developing the portfolio, including originating, lending, and reporting. 
  • Organizational excellence: Participate in strategic planning and goal-setting process. Hold direct reports accountable to aggressive goals. 
  • External presence development: Build the image of the Fund nationally by establishing working relationships and cooperative agreements with community groups, government entities, and nonprofit and for-profit organizations. Represent the Fund publicly by attending public events, community meetings, professional functions, and events.
  • Policy and research: Monitor proposed legislation and policy matters related to programs and services offered. Identify and support research efforts to advance programs and services. 

Requirements:

Above all, our Investment Principal should be a driven, savvy, high achieving professional with expertise in the complicated mechanics of borrowing, lending, and charter school facilities. Other qualifications and qualities include:

  • Self-starter with over ten years of related professional experience in lending, finance, and K-12 education
  • At least five years of experience managing a team 
  • Expertise in charter school facilities financing strongly preferred
  • Top notch quantitative, financial modeling, and analysis skills
  • Track record of meeting and exceeding aggressive goals
  • Driven to develop, motivate, and inspire all members of the team, particularly direct reports
  • Outstanding organizational and time management skills
  • Extraordinary communication skills
  • Ability to produce high-quality work products under tight deadlines
  • Strong customer service orientation and ability to collaborate across functional areas
  • Thrives when working in a fast-paced, evolving environment on complex, high-impact initiatives 
  • Highly detail- and team-oriented
  • High degree of integrity and authenticity
  • Some travel may be required

Compensation:

Compensation is competitive, commensurate with experience. We are proud to offer extraordinary benefits, including unlimited PTO, as well as medical coverage and a 401(k) match.

How to Apply:

Send your resume, along with a cover letter that outlines your interest in CIF, to crystal@charterimpactfund.org

Chief Executive Officer Working Solutions
San Francisco, CA
Job Function: Financial Services
Posted: December 27, 2017

Background:

Working Solutions is a nonprofit Community Development Financial Institution (CDFI) whose mission is to provide entrepreneurs with access to capital and consulting services to start or grow successful businesses.  It serves a diverse population and prioritizes low-income individuals, women, and minorities while focusing on supporting microenterprise growth as a strategy to strengthen the local economy, create jobs, and build strong communities.

Working Solutions is the first to believe in the dreams of underserved entrepreneurs.  The organization provides fixed rate microloans of $5,000 to $50,000 coupled with pre- and post-loan business consulting for the term of each loan.  Founded in 1999, Working Solutions launched its lending services in 2005, and the organization has since educated thousands of business owners, specifically those in the early stages of business growth and development, and extended over $14.5 million in microloans with the extraordinary repayment rate of 96%.  

Working Solutions has achieved these results with a growing and diverse team of now 16 employees and a Board comprised of business and community leaders.  Headquarters are in San Francisco with satellite offices in San Rafael and Oakland, and the organization currently serves nine counties in Northern California.

It has been a year of incredible growth for Working Solutions with an increase of 46% in loans and 66% in dollars going to help Northern California entrepreneurs.  As a responsive leader in the field, Working Solutions stepped up quickly to create the Emergency Relief Loan

Position Summary:

The ideal CEO candidate will have proven knowledge and expertise of CDFIs with an emphasis on nonprofit management and small business lending in the nonprofit CDFI context.  She/he will have a demonstrated commitment to the mission of the organization and a successful track record of managing a professional and committed staff, fostering and cultivating external relationships, and partnering and reporting to a dedicated Board.

We seek candidates who possess a superior ability to articulate a compelling vision and can inspire others toward fulfilling that vision-one that will build on the success, strong relationships, and solid foundation of Working Solutions and move it toward the next horizon of growth.

Responsibilities:

  • Working Solutions seeks a CEO that will provide vision, leadership, and oversight to accomplish the strategic goals of this highly respected organization.  She/he will be a quick and curious learner and a change-maker with deep listening skills and a passion for building relationships both externally and internally.  
  • The successful candidate will work directly with the Board of Directors and staff to propel the organization forward in both a relevant and impactful way by enhancing its visibility, increasing resources and support for the organization, and establishing key strategic priorities.  She/he will have the benefit of using the outgoing Founding CEO as a trusted advisor to ensure key relationships and partnerships are smoothly transitioned.

Key responsibilities of the position:

  • Provide inspirational and visionary leadership.
  • Guide the Board and staff through a strategic planning process that creates both short-term and long-term priorities with benchmarks and deliverables.
  • Ensure the effectiveness, quality, and impact of Working Solutions’ products and services and motivate and hold the staff accountable for achieving goals.
  • Build, cultivate, and foster strong relationships with investors, partners, and other key stakeholders.
  • Lead the efforts along with key staff to increase and diversify grant and debt investments for the organization.
  • Oversee the financial health of the organization and provide leadership and direction during the budgeting process.
  • Hire, mentor, coach, and develop staff along with creating opportunities for them to grow and develop in their work.
  • Partner closely with the Board to recruit, support, and maintain a strong and engaged Board of Directors.

Requirements:

PERSONAL CHARACTERISTICS

  • The CEO will embody the following characteristics and qualities:
  • Excellent and intuitive communicator both verbal and written:  a leader and bridge-builder who can communicate with diverse audiences and manage diverse viewpoints in a professional and compelling manner.
  • Results oriented and resourceful along with the drive to be proactive, strategic, and operational. Can initiate new ideas and relationships while keeping a fast moving train on the tracks.
  • Confidence and ability to make and delegate decisions as needed, work well under pressure, and adapt easily to changing situations and priorities.  Good judgment and consensus-building skills.
  • Commitment to diversity, equity, and inclusion.

QUALIFICATIONS

  • The ideal candidate will have a minimum of 10 to 12 years of progressive management and leadership experience preferably with a CDFI or lending institution.  
  • She/he will have strong financial acumen and a proven track record of success in leading, managing, and growing a diverse organization and identifying new funders and investors.  

EDUCATION

  • Bachelor’s degree in Business, Economics, Public Administration, or related field.  
  • A Master’s degree is desirable.

Compensation:

An attractive compensation and benefits package will be provided to the successful candidate.

Working Solutions is an Equal Opportunity Employer.

 

How to Apply:

Please submit CVs and letters of interest to:

Tarek Azzani / tazzani@azzanisearch.com
Azzani Search Consultants
1 Market, Spear Tower, Suite 3600
San Francisco, CA 94105  
415-293-8181

Communications and Events Intern Community Development Venture Capital Alliance
New York, NY
Job Function: Intern/Work Study
Posted: December 20, 2017

Background:

Based in New York City, CDVCA is a 501 (c)(3) network of community development venture capital (CDVC) funds. These venture capital funds make equity investments in businesses to create jobs, wealth and entrepreneurial capacity that advance the livelihoods of low-income people and the economies of distressed communities. They achieve a “double bottom line” of both market financial and important social returns. CDVCA works on many fronts to build, strengthen, and support the CDVC industry by combining advocacy, education, communications, and best-practices dissemination through conferences and workshops. 

CDVCA furthers its mission by making investments in low-income communities.  CDVCA has been making both fund-of-funds and direct investments in disadvantaged community businesses through its Central Fund since 2003. CDVCA currently manages investments totaling $168 million, including its Central Fund, federal and state NMTC programs, Innovate NY Fund, and the Puerto Rico Fund for Growth. CDVCA is the Managing General Partner of Innovate NY Fund, L.P., a $45 million New York State economic development fund-of-funds, which investments in early stage venture capital funds throughout the state, and the Puerto Rico Fund for Growth, L.P., a $47 million fund-of-funds dedicated to making investments to stimulate economic revitalization and employment  on the island of Puerto Rico.

Position Summary:

Description of Internship. Over the course of the internship, the Intern will work primarily to support the marketing, communications and logistical efforts of the annual CDVCA Conference (to be held in March 2018).

 

Responsibilities:

Responsibilities include:

  • Outreach to prospective participants via phone and email
  • Designing digital and physical marketing collateral, which include email announcements, conference booklets and posters
  • Designing and updating the event website
  • Posting conference updates and announcements on CDVCA’s social media accounts 
  • Arranging panel preparation calls
  • Coordinating and executing logistical arrangements before and during the event

Requirements:

Qualifications. An ideal candidate will be a self-starter who has: 

  • An undergraduate degree or graduate degree, or is currently pursuing either degree 
  • Excellent verbal and written communication skills
  • Proficiency in Adobe Illustrator and/or Photoshop
  • Proficiency in Microsoft Word, Outlook and PowerPoint
  • Previous experience working on either Squarespace or WordPress sites; HTML coding knowledge is a plus
  • An appreciation of creative challenges and interest in improving the lives of low-income communities
  • Willingness to work as part of a team

Compensation:

Please note that this is an unpaid internship.

How to Apply:

To apply please send a cover letter and resume to Feona Castro at FCastro@cdvca.org with the subject line “Communications and Events Intern Application”.

No telephone inquiries please. For more information about CDVCA visit our website www.cdvca.org

Portfolio Management Analyst/Loan Operations Specialist Boston Community Capital
Boston, MA
Job Function: Lending/Loan Operations
Posted: December 18, 2017

Background:

We are a national nonprofit organization dedicated to building healthy communities where low-income people live and work. Since 1985, BCC has invested over $1.4 billion in projects that provide affordable housing, good jobs, and new opportunities in low-income communities, connecting these neighborhoods to the mainstream economy.  BCC has leveraged over $7 billion in public and private investment in underserved communities nationwide. Through several distinct business lines BCC reinvigorates communities in many ways, such renovating commercial real estate in distressed neighborhoods, introducing solar power to help contain energy costs for low-income families, providing financing for home owners facing foreclosure, and financing affordable housing, community health centers as well facilities that house child care, youth programs, charter schools and other organizations that provide essential social services.

We are committed to assuring that the entrepreneurial spirit that has fueled Boston Community Capital’s success for its first 30 years continues to be its driving force.  We focus closely on the changing and complex needs of the families and the communities we serve, working to expand the dynamic sources of capital available to bring change and opportunity to our communities, and to partner with diverse constituencies – individuals and institutions who share our goals of creating wealth, opportunity and lasting change at a significant scale.

BCC’s groundbreaking work has been featured in The New York Times, The Boston Globe, The Chronicle of Philanthropy, The Nation, US News and World Report, The Huffington Post, The Los Angeles Times, The Economist, and The Christian Science Monitor, and on NPR’s All Things Considered, PBS NewsHour, CBS Evening News, MSNBC’s All In with Chris Hayes, and Fox News.

The organization’s headquarters are in the Dudley Square neighborhood of Boston. To learn more about BCC, visit www.bostoncommunitycapital.org or follow us on Twitter @bococapital.

Boston Community Loan Fund (BCLF), an affiliate of Boston Community Capital, is seeking an experienced Portfolio Analyst and Loan Operations Specialist to support all aspects of BCLF’s lending program to a diverse set of borrowers, including affordable housing and real estate developers, charter school and community health center operators, and nonprofit and social enterprises serving low income families and communities.  The position is located in Boston, MA.

BCLF offers a full suite of lending products to its customers, including pre-development, acquisition, site development, construction, bridge, term and permanent debt.  Our greatest strength is our ability to offer creative debt solutions to strong borrowers delivering high impact opportunities to enhance the lives of low-income individuals and families.  BCLF’s loan portfolio of 120 loans ($130MM net outstanding) is distributed across more than a dozen states.

Candidates who reflect the diversity of the communities we serve and have a deep and demonstrated commitment to social equity are strongly encouraged to apply for employment.

Position Summary:

Boston Community Capital (BCC) is seeking a Portfolio Management Analyst/Loan Operations Specialist (PMA/LOS) who will be joining a portfolio team comprised of a Portfolio Manager, a Portfolio Analyst and a Construction Loan/Loan Operations Manager.  This team supports four Senior Loan Officers.

The PMA/LOS will assist with the loan closing, loan disbursements, loan monitoring and portfolio reporting operations for a highly successful Community Development Financial Institution.  Responsibilities will include reviewing loan documents for accuracy and consistency with approved loan terms and facilitating loan closing and loan disbursements.  The PMA/LOS will also be responsible for accurate and complete loan files and will be a liaison between the Loan Fund and the Finance department.  The position will analyze required borrower reports and test financial statements to confirm compliance with financial covenants.

This position reports to the Portfolio Manager; communicates regularly with borrowers and clients; attends and participates in Loan Fund staff meetings; interacts extensively with the lending team and staff/management in other BCC departments.  The position is pivotal to the continued success and growth of the Loan Fund and operates in a collaborative, cooperative, team environment.

Responsibilities:

Loan Documentation & Closing (40%):

  • Coordinate closing and funding process in conjunction with the portfolio management team, loan officers, borrowers and outside legal counsel
  • Manage the flow of loan documents from the commitment stage through closing and disbursement of funds
  • Review title reports, requisitions, escrow instructions, loan documents, surveys, environmental, appraisals, property condition reports, insurance and other exhibits ensuring no losses as a result of improper closing procedures
  • Ensure compliance with all loan closing and funding requirements
  • Anticipate and effectively manage closing problems by identifying and recommending solutions to meet the needs of BCLF and our borrowers
  • Ensure electronic and database files are kept organized, maintaining an audit trail of all closing steps

Portfolio Management (40%):

  • Communicate effectively with borrowers and serve as one of the primary points of contact for loan closing and post-closing loan management
  • Review and process funding disbursement requests, ensuring proper documentation and compliance with loan conditions
  • Collect quarterly financial statements and reporting documentation and assist in determining financial condition, credit-worthiness and project compliance for all borrowers
  • Maintain working knowledge of loan policies and procedures
  • Work closely with the Finance department to ensure correct accounting for all loans
  • Effectively track, analyze, communicate, and make recommendations to address loan delinquencies
  • Maintain post-closing credit and monitoring of original documents and electronic files
  • Prepare and maintain Loan Fund operations and activity reports
  • Maintain the loan portfolio management system and related databases

Social Impact, Compliance, & Reporting (10%):

  • Work with other staff to prepare annual and quarterly reports to the CDFI Fund and multiple other funders and investors
  • Work collaboratively with other departments to manage information, reporting and document preparation for various internal and external needs include funding requests, grant reports, annual audit, and compliance with investor covenants

Other duties as assigned (10%):

  • Assist or lead ad-hoc projects as assigned that may include industry research, product development, operational efficiency, compliance and reporting systems protocol, social impact tracking development, funding applications or policy analysis

 

Requirements:

REQUIRED SKILLS:

  • Understanding of and experience with commercial real estate and construction lending operations
  • Familiarity with real estate loan documents and basic legal terms
  • Experience with portfolio management and asset management
  • Demonstrated commitment to BCC’s mission
  • Demonstrated ability and interest in working productively across racial, ethnic and income differences
  • Team player
  • Ability to manage a variety of projects from multiple team members simultaneously
  • Demonstrated ability to maintain accurate electronic files and database systems

ADDITIONAL ABILITIES & SKILLS:

  • Understanding of and experience with the New Markets Tax Credit program
  • Knowledge and experience with nonprofit community-based organizations
  • Experience with Salesforce and loan management software strongly preferred

The position requires a highly motivated person with a background in commercial real estate or affordable housing lending operations.  The ideal candidate is also someone who understands the unique needs of developers working to improve communities where low-income families live and work.  The candidate must be a self-starter, have the demonstrated ability to accurately and efficiently work on several tasks simultaneously and have superior written and verbal communication skills.  Finally, the candidate should enjoy working in a mission-driven, growing organization and thrive in a friendly, cooperative, and fast-paced environment.

Compensation:

Salary is competitive and commensurate with experience within the guidelines of Boston Community Capital’s scale. The position comes with excellent benefits including medical, dental, life and long-term disability insurance, as well as generous vacation and employer contributions to a retirement account.

How to Apply:

The position is open until filled. Please submit a resume and cover letter to the attention of Andrew Koh, Senior Vice President, Operations at https://bostoncommunitycapital.recruiterbox.com/jobs/fk0fi23?cjb_hash=O_Osnm86&apply_now=true.

No calls please. Due to the high volume of applications, Boston Community Capital cannot return phone calls or inquiries about the position and, regrettably, cannot notify applicants of the status of applications unless an interview is requested.

Boston Community Capital is an equal opportunity employer. Boston Community Capital is committed to a policy of equal employment opportunity for all employees or applicants for employment without regard to race, color, religion, gender, age, national origin, ancestry, sexual orientation, physical or mental disability, genetic information, veteran status or other protected status in accordance with applicable federal, state and local laws.

Loan Fund- Loan Officer Boston Community Capital, Inc.
Boston, MA
Job Function: Lending/Loan Operations
Posted: December 18, 2017

Background:

We are a national nonprofit organization dedicated to building healthy communities where low-income people live and work. Since 1985, BCC has invested over $1.4 billion in projects that provide affordable housing, good jobs, and new opportunities in low-income communities, connecting these neighborhoods to the mainstream economy.  BCC has leveraged over $7 billion in public and private investment in underserved communities nationwide. Through several distinct business lines BCC reinvigorates communities in many ways, such renovating commercial real estate in distressed neighborhoods, introducing solar power to help contain energy costs for low-income families, providing financing for home owners facing foreclosure, and financing affordable housing, community health centers as well facilities that house child care, youth programs, charter schools and other organizations that provide essential social services.

We are committed to assuring that the entrepreneurial spirit that has fueled Boston Community Capital’s success for its first 30 years continues to be its driving force.  We focus closely on the changing and complex needs of the families and the communities we serve, working to expand the dynamic sources of capital available to bring change and opportunity to our communities, and to partner with diverse constituencies – individuals and institutions who share our goals of creating wealth, opportunity and lasting change at a significant scale.

BCC’s groundbreaking work has been featured in The New York Times, The Boston Globe, The Chronicle of Philanthropy, The Nation, US News and World Report, The Huffington Post, The Los Angeles Times, The Economist, and The Christian Science Monitor, and on NPR’s All Things Considered, PBS NewsHour, CBS Evening News, MSNBC’s All In with Chris Hayes, and Fox News.
The organization’s headquarters are in the Dudley Square neighborhood of Boston. To learn more about BCC, visit www.bostoncommunitycapital.org or follow us on Twitter @bococapital.

Boston Community Loan Fund (BCLF), an affiliate of Boston Community Capital, is seeking an early career Loan Officer to support in the delivery of all aspects of BCLF’s lending program to a diverse set of borrowers, including affordable housing and real estate developers, charter school and community health center operators, and nonprofit and social enterprises serving low income families and communities.  The position will be based in Boston, MA.

BCLF offers a full suite of lending products to its customers, including pre-development, acquisition, site development, construction, bridge, term and permanent debt.  Our greatest strength is our ability to offer creative debt solutions to strong borrowers delivering high impact opportunities to enhance the lives of low-income individuals and families.  BCLF’s loan portfolio of 120 loans ($130MM net outstanding) is distributed across more than a dozen states.

Candidates who reflect the diversity of the communities we serve and have a deep and demonstrated commitment to social equity are strongly encouraged to apply for employment.

Position Summary:

Boston Community Capital (BCC) is seeking a Loan Officer who will be joining a team of seasoned community development finance professionals.  The primary role of the Loan Officer will be to provide marketing and underwriting support to the Senior Loan Officers.  This will include industry, community and borrower research, financial statement analysis, credit analysis, and support during the loan underwriting, closing and funding process.  S/he will bring to the position a commitment to our mission, a desire to deliver innovative financing solutions to support real estate projects that advance our mission, a collaborative and generous spirit, and a learning orientation.  Successful candidates will possess/demonstrate the ability to successfully work with diverse communities.  The Loan Officer reports to the President of Boston Community Loan Fund.

Responsibilities:

  • Identify, as well as respond to, opportunities to enhance the efficiency, quality and impact of BCLF outreach, underwriting and loan documentation process
  • Analyze financial statements, project and operating budgets for feasibility, strength and quality
  • Identify critical questions to be answered during the underwriting process with respect to credit risks and mission fit
  • Maintain strong data and information collection systems
  • Support business development efforts, including cultivating new opportunities and authoring proposals for financial resources that support our work
  • Work as part of a diverse, collaborative and supportive team to expand the impact of BCC through its Loan Fund

Requirements:

ESSENTIAL DUTIES AND RESPONSIBILITIES:

  • Identify, as well as respond to, opportunities to enhance the efficiency, quality and impact of BCLF outreach, underwriting and loan documentation process
  • Analyze financial statements, project and operating budgets for feasibility, strength and quality
  • Identify critical questions to be answered during the underwriting process with respect to credit risks and mission fit
  • Maintain strong data and information collection systems
  • Support business development efforts, including cultivating new opportunities and authoring proposals for financial resources that support our work
  • Work as part of a diverse, collaborative and supportive team to expand the impact of BCC through its Loan Fund

REQUIRED SKILLS:

  • Strong writing, research, financial analysis and communication skills
  • Competency in analyzing nonprofit, for-profit and real estate development company financial statements, budgets and projections=
  • Experience evaluating feasibility and impact of community development real estate projects
  • Demonstrated experience assessing the strength of operating organizations and management teams
  • Demonstrated ability and interest in working productively across racial, ethnic and income differences
  • Passion about the role of capital in community development and demonstrated commitment to BCC’s mission
  • Curiosity about promising new ideas and best practices to use the tool of debt to improve the lives of low-income people and communities
  • Ability to manage a variety of projects from multiple team members simultaneously
  • Team player
  • Success in fast-paced environments

ADDITIONAL ABILITIES & SKILLS:

  • 3-5 years of related work experience in a lending institution
  • Demonstrated experience structuring and negotiating loan structures
  • Demonstrated business development and client management experience 
  • Demonstrated experience underwriting, committing and closing loans
  • Community development finance experience strongly preferred

Compensation:

Salary is competitive and commensurate with experience within the guidelines of Boston Community Capital’s scale. The position comes with excellent benefits including medical, dental, life and long-term disability insurance, as well as generous vacation and employer contributions to a retirement account.

How to Apply:

The position is open until filled. Please submit a resume and cover letter to the attention of Andrew Koh, Senior Vice President, Operations at https://bostoncommunitycapital.recruiterbox.com/jobs/fk0fi23?cjb_hash=O_Osnm86&apply_now=true.

No calls please. Due to the high volume of applications, Boston Community Capital cannot return phone calls or inquiries about the position and, regrettably, cannot notify applicants of the status of applications unless an interview is requested.

Boston Community Capital is an equal opportunity employer. Boston Community Capital is committed to a policy of equal employment opportunity for all employees or applicants for employment without regard to race, color, religion, gender, age, national origin, ancestry, sexual orientation, physical or mental disability, genetic information, veteran status or other protected status in accordance with applicable federal, state and local laws.

Loan Officer/Senior Loan Officer NCCLF
San Francisco, CA
Job Function: Finance
Posted: December 12, 2017

Background:

The Northern California Community Loan Fund (NCCLF) was founded in 1987 to create a socially responsible investment vehicle to provide capital and expertise to revitalize low-income communities.  NCCLF has grown into a $75 million intermediary nonprofit organization that provides loans, New Markets Tax Credits (NMTCs), consulting, and technical assistance to groups that develop affordable housing, community facilities, essential health and human services, and other community-based enterprises, including those providing healthy foods access. For more information on NCCLF programs and services, please visit our website at www.ncclf.org.

Position Summary:

NCCLF has historically provided loans and NMTC financing primarily to nonprofits and alternatively structured enterprises such as co-ops, throughout the 46 northernmost counties of California.  Our borrowers have made use of our financing to develop affordable housing, a wide range of community facilities, create economic development projects, support access to healthy foods, and provide working capital in order to make a difference in the lives of those who need help the most.  

The Loan Officer (LO) or Senior Loan Officer (SLO) serves as a credit professional within NCCLF and participates in the community development lending effort in Northern California.  The position’s primary responsibilities are to source and underwrite loan requests and provide technical assistance to NCCLF’s clients: nonprofit organizations which are acquiring community facilities, developing affordable housing, engaging in economic development activities or requesting working capital to meet the needs of low-income communities and underserved populations as well as enterprises involved in increasing availability of healthy foods to these communities. The LO/SLO will also initiate and develop potential borrower relationships, and build and manage a base of referral sources and strategic partnerships to advance NCCLF’s mission and impact.

The position requires a highly motivated, experienced lender with a background in community development finance, commercial real estate, and/or nonprofit housing/facility development and must possess excellent communication skills.  The ideal candidate is also someone who understands the unique needs of the nonprofit sector, particularly nonprofit human service providers and affordable housing developers in Northern California.  The successful candidate must be a self-starter and must have the demonstrated ability to meet assigned goals successfully and on time.  Finally, the candidate should enjoy working in an active and expanding nonprofit and should be able to thrive in a friendly, cooperative, and fast-paced environment.

Responsibilities:

Underwriting

  • Interview and screen potential loan applicants.
  • Perform financial analysis, due diligence and project feasibility assessment for potential loan candidates.
  • Provide informal technical assistance through the application and underwriting process, and, as needed, coordinate delivery of formal technical assistance activities through internal and external sources.
  • Prepare written credit memorandums with detailed analysis and recommendations for terms and credit structure.
  • Present credit analysis for review and approval to Loan Committee or other appropriate levels of authority within NCCLF as required by loan policies.
  • Work with the borrower and external parties through loan commitment terms and loan closing.
  • Assist the Loan Administration team with loan closing and ongoing monitoring activities.
  • Help develop and update loan policies, underwriting criteria and best practices for NCCLF’s main product lines.
  • Undertake special projects and other duties as assigned.

Business Development

  • Develop and implement sales and marketing plans in targeted communities to achieve market penetration in accordance with lending goals.
  • Build and maintain close working relationships with referral sources, potential partners and funding sources.
  • Represent NCCLF at public meetings, events and conferences.
  • Market loan products and programs to potential borrowers and referral sources. 
  • Follow up on loan inquiries and provide technical assistance to potential borrowers through the application process. 
  • Maintain a contact database for ongoing sales and marketing efforts.
  • Develop new products or services to meet market demand.  

Requirements:

Minimum Requirements

  • Minimum of three years (Loan Officer) or five years (Senior Loan Officer) of loan underwriting experience at a CDFI, bank or other financial institution, preferably related to affordable housing development or commercial real estate construction and asset management.
  • Undergraduate degree in business, finance, economics, or other relevant field. Relevant work experience can be a substituted for required education.
  • Excellent underwriting skills, grounded in strong abilities to analyze financial statements, assess management and leadership, review collateral, interpret business and strategic plans, etc.   
  • Excellent verbal and written communication skills. 
  • Proven ability to generate client leads and maintain business relationships.
  • Superior judgment and attention to detail.
  • Excellent organizational skills, with a strong ability to work independently and with a team, handle multiple priorities and manage time efficiently.
  • Enthusiasm and a passionate commitment to work in community development.

Desired Qualifications, Skills and Experience

  • Working knowledge of the Low Income Housing Tax Credit and New Market Tax Credit programs.
  • Experience in consulting and technical assistance in real estate development and/or finance, preferably with nonprofit clients.
  • Knowledge and experience with nonprofit community-based organizations in Northern California. 
  • Understanding of nonprofit finance and management best practices. 
  • Understanding of and experience with community development lending and funding sources.
  • Familiarity with food-related lending.
  • English/Spanish bilingual ability is a plus.

Relationships

  • Position reports to the Senior Manager, Loan Underwriting; communicates regularly with referral sources and potential borrowing clients; attends and participates in Loan Committee meetings; interacts extensively with the lending team and staff/management in other NCCLF departments; and represents NCCLF to outside constituencies.

Job Context

  • Position is pivotal to the success of the lending program and operates in a collaborative, cooperative, team environment.  Workload will vary requiring flexibility with time. Outside meetings and some local travel within Northern California are required.  

Hours and Location

  • Full-time position.
  • Work hours will be predominantly during regular business hours, although occasional evening or weekend hours will be required.  A flexible schedule may be accommodated.
  • Worksite will be in the offices of NCCLF in San Francisco, with some travel outside the Bay Area for site visits, business development, and conferences.

Compensation:

Competitive nonprofit salary range depending upon experience, plus an excellent benefits package including health, dental, retirement plan and three weeks vacation.  

NCCLF is an equal opportunity employer; people of all backgrounds are strongly encouraged to apply.

How to Apply:

 Send resume and cover letter (Attn: Loan Officer Search) via fax to 415-392-8216 or email to info@ncclf.org. Application Deadline: Open until filled.

Senior Portfolio Associate Enterprise Community Loan Fund
Columbia, MD, MD
Job Function: Other
Posted: December 8, 2017

Background:

Enterprise’s mission is to create opportunity for low- and moderate-income people through affordable housing in diverse, thriving communities. We are driven by our mission, fueled by business discipline and sustained by donors and investors. Since 1982, Enterprise has worked with partners in communities nationwide. One of America’s original social enterprises, we bring together the people and resources to create affordable housing in strong neighborhoods. Within Enterprise are entities that lend funds, finance development and manage and build affordable housing. To date, Enterprise has invested $18.6 billion, helping to create nearly 340,000 homes and touched millions of lives. In fact, every day someone moves into a better place to live thanks to Enterprise.

Position Summary:

The Sr. Portfolio Associate is responsible for a variety of tasks associated with the management of the Loan Fund’s lending activities including loan closings, loan servicing, and program management of a portfolio with a range of loan types (predevelopment, acquisition, construction and permanent loans) and diverse projects (affordable housing, charter schools, health care facilities and other community development projects).  The position involves a combination of loan closing, servicing, and reporting duties as outlined below.

The position requires a high degree of self-motivation, dedication, and flexibility with time and willingness to accept a demanding (and personally satisfying) position.

Responsibilities:

Loan Closing

In collaboration with the Lenders, the  Sr. Portfolio Associate will participate in the loan closing process from loan approval through closing. The Sr. Portfolio Associate is responsible for entering and maintaining loan data systems.  The Sr. Portfolio Associate will prepare and maintain loan closing checklists along with Legal and ensure all loan closing conditions have been met and approved by the appropriate authorized parties. The Sr. Portfolio Associate will review draft loan documents to ensure accurate implementation of key loan terms per the loan approval. The Sr. Portfolio Associate will review insurance policies to ensure that they meet Loan Fund’s Lending Standards and Guidelines. The Sr. Portfolio Associate will communicate to the Lenders any documentation issues that have the potential to negatively impact the loan closing or the future asset management of the loan.

The Sr. Portfolio Associate will work with the Accounting and Capital Management staff to set-up new loans and Programs in the Loan Fund’s lending data bases. The Sr. Portfolio Associate is responsible for coordinating funds for disbursement required at loan closing with Capital Management, Accounting, and third-party lenders, as necessary.

Loan Monitoring/Servicing

The Sr. Portfolio Associate is responsible for servicing and monitoring a portion of Loan Fund’s “on” and “off balance sheet” loans. Duties related to this activity include, but are not limited to: processing monthly draw requests for construction and non-construction loans; maintaining project budgets; monitoring and/or following up on loan reporting and other milestones need to keep the loan in compliance; ongoing file maintenance; updating loan information in Loan Fund’s lending databases; processing loan payoffs; and archiving records. In addition, the Sr. Portfolio Associate will assist the Lenders and Chief Credit Officer with processing loan modifications. 

Program Management

The Sr. Portfolio Associate carries out other responsibilities as assigned including but not limited to assisting with the administration of specific lending programs, developing reports, administering lender pools, selling participations in loans, and implementation of lending databases.

Requirements:

  • A minimum two-year associate’s degree
  • 7-10+ years’ experience in loan administration and loan monitoring/servicing
  • Program Management experience
  • Knowledge of real estate and construction lending
  • Knowledge of affordable housing and community development loans
  • General knowledge of corporate and real estate insurance
  • 'Strong written and verbal communication skills
  • Ability to work well in a team environment is essential.
  • Excellent customer service skills
  • Ability to prioritize and manage multiple competing tasks while maintaining a high degree of attention to detail is essential
  • Strong computer aptitude, including knowledge of Microsoft Office Suite Programs, Office 365 and other database software.

Qualifications/Skills Preferred

  • Knowledge of SalesForce and/or Precision LM (LMS) systems is a plus.

Compensation:

based on experience, but competitive

How to Apply:

go to this URL: https://tinyurl.com/SrPortAssoc

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