Industry Job Bank

  • Make an impact and join the opportunity finance field.

The track record of today’s opportunity finance industry is impressive. All financing directly benefits low-income and low-wealth people to increase access to homeownership opportunities, affordable rental housing, thriving small businesses, and critical services such as childcare, healthcare, and education.

Do you want to develop innovative strategies? Combine your business acumen with an unwavering dedication to making a difference in people’s lives? Change the rules of financing? Make your impact and join the opportunity finance field.

To submit a job listing, please use our online form. To edit or remove a posting please contact info@ofn.org. Submissions will be reviewed and posted within 1 business day to ensure relevancy to the industry.

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

Director of Administration Primary Care Development Corporation
New York, NY
Job Function: Human Resources
Posted: August 21, 2018

Background:

Primary Care Development Corporation (PCDC): Catalyzing Excellence in Primary Care

Quality primary care is transformative and a cornerstone of healthy, thriving communities. PCDC, a nationally recognized 501(c)(3) nonprofit organization and community development financial institution (CDFI), catalyzes excellence in primary care through strategic community investment, capacity building, and policy initiatives to achieve health equity. PCDC helps primary care practices improve delivery of care by providing affordable capital as well as a variety of training and technical assistance services. Since its founding in 1993, PCDC has assisted over 1,000 practices in 40 states, and has leveraged more than $1 billion to improve care in low-income communities.

PCDC’s Capital Investment Team invests in communities by providing advisory services and flexible, affordable capital to create lasting and sustainable impact for the organizations and the communities they serve. The Capital Investment team provides financing that is tailored to transforming and expanding primary care, including, wherever possible, the integration of comprehensive medical, dental and behavioral health services.

Position Summary:

PCDC seeks a full-time Analyst to join the Capital Investment (CI) team. The Analyst is responsible for leading analytical efforts for the CI team, and assists the team in other areas of healthcare investment. The Analyst reports directly to the Chief Lending Officer and is also be accountable to the Chief Credit Officer and the Managing Director. The Analyst provides support to all members of the CI team for the responsibilities outlined below, including evaluating projected and actual performance of clients, and impacts from specific investments. Responsibilities also include financial statement analysis, borrower credit reviews, loan requests, and MIS reporting. Assistance mainly involves spreading financial statements, maintaining borrower and loan production files, communicating with borrowers, composing written summaries, gathering and compiling data, analyzing and preparing reports, and preparing reports for internal and external stakeholders.

Responsibilities:

Primary Responsibilities
• Financial Analysis – New Investments: Working closely with relationship managers, spread and analyze borrowers’ financial statements and projections, prepare financial analytics associated with Capital investments, including sourcing and collecting relevant financial data, preparing historical and projected cash flow models, and summarizing financial analysis, and prepare narratives as part of a credit memo. Assist with preparation of other components of the credit memo as requested.
• Financial Analysis – Portfolio: Working with the CI Portfolio Manager(s), evaluate client actual performance against projected performance as initially modeled, over life of investment.
• Compliance: Monitor and maintain PCDC compliance with requirements set forth by government agencies, funders and investors. Support the appropriate CI team leader(s) to assemble data and complete necessary reports for advisory contracts. Serve as liaison to internal partners to ensure timely compliance reporting.
• Impact Analysis: Track projected and actual client and community impact from PCDC investments, including job creation, patient and visit volume changes, health outcomes, etc.
• Customer Relations: Provide quality customer service at all points of contact with internal and external clients. Field general inquiries from prospects, coordinate the collection of due diligence from applicants, and coordinate the collection of impact data from borrowers.
• Reporting: Assemble data, analyze trends, and prepare reports for management, committees, Board of Directors, and external investors and agencies.

Requirements:

Required Experience, Education & Skills
• Bachelor’s degree is required; degree in real estate, finance, accounting, or business is preferred.
• At least three years’ experience in finance, community development, or real estate development or the equivalent combination of education and experience as determined by PCDC.
• Formal credit or financial analysis training is strongly preferred.
• Strong financial skills and knowledge.
• Strong analysis and computer skills, particularly with Excel.
• Exemplary oral/written communication.
• Excellent organizational skills with ability to manage and prioritize multiple assignments
• Strong attention to detail
• Must have the ability to work productively with minimal supervision.
• Self-starter, highly motivated and energetic, exercise initiative and mature judgment.
• Must have the ability to work effectively under time-critical conditions.
• Work as a strong team player within a collaborative process.

Compensation:

We offer a competitive salary and comprehensive benefits package.

How to Apply:

For immediate consideration, please email your cover letter, resume, and salary requirements to: employment@pcdc.org with "Analyst, Capital Investment" in the subject line.

Finance and Operations Director Westminster Economic Development Initiative
Buffalo, NY
Job Function: Finance
Posted: August 20, 2018

Background:

Organization Mission: WEDI empowers economically disadvantaged people in Buffalo, with a primary focus on the West Side community.
Websites: www.wedibuffalo.org, www.westsidebazaar.com
Organizational Overview:
WEDI fulfills its mission and vision through three core competencies.
• Economic Development: Low-income individuals and families attain sustainable incomes through business creation and expansion. Since 2012, WEDI has served over 900 clients in business training and technical assistance, disbursed over 100 microloans totaling over $650,000, and empowered hundreds of businesses to launch or expand.
• Community Development: Entrepreneurs create focused, market-driven, and sustainable destinations that bring people together to create strong, diverse neighborhoods. WEDI hosts up to 21 businesses in the West Side Bazaar, a unique small business incubator that supports a diverse set of entrepreneurs offering authentic products in a marketplace setting, and has successfully graduated over 25 owners.
• Education: English language learners acquire comprehension and fluency to attain parity with native English-speaking peers, which in turn promotes high graduation rates, family health, and a strong community. The ENERGY Literacy for Children, FLY, and nascent Launch after-school programs serve over 75 English-language learners from Buffalo’s West Side who are in grades 1-12.

Position Summary:

The Finance and Operations Director is responsible for all financial matters of WEDI, including a microloan portfolio. The Finance and Operations Director will report to and work closely with the Executive Director. In addition, s/he will partner with the senior leadership team and the board of directors to develop and implement strategies across the organization. The Finance and Operations Director will oversee all compliance and financial reporting for government contracts and private grants, office operations, human resources, and loan portfolio management. S/he must be able to adapt to a continually evolving environment and thrive in an autonomous and deadline‐oriented workplace, while managing a staff of three.

Responsibilities:

Finance and Accounting
• Oversee the accounting department to ensure proper maintenance of all accounting systems and function, including direct support, as necessary; supervise WEDI’s finance staff member. Ensure completion of activities, including month/year end close, accounts payable, financial reports, payroll, invoicing, cash receipts, and loan servicing.
• Oversee cash flow planning and ensure availability of funds as needed
• Coordinate the development and monitoring of budgets, with a particular emphasis on grant and project accounting, including performance and variance analysis.
• Develop financial business plans and forecasts
• Ensure timeliness, accuracy, and usefulness of financial and management reporting for federal and state
funders, foundations, and WEDI’s board of directors; oversee the preparation and communication of monthly and annual financial statements.
• Oversee financing strategies and activities as well as banking relationships
• Ensure maintenance of appropriate internal controls and financial procedures.
• Ensure legal and regulatory compliance regarding all financial functions
• Primary liaison with outside auditors and finance committees; responsible for leading the audit planning, significant accounting policies and their adoption, and financial statement preparation and disclosure. Review tax returns prepared by outside accountants prior to organization’s officer sign‐off. Work with accountants on planning.
Operations and Human Resources
• Supervise WEDI’s Administrative Specialist staff member
• Further develop WEDI’s administration and human resources capabilities. Identify and evaluate opportunities to enhance professional development, staff benefits, and recruiting.
• Work with payroll processing company and oversee internal time tracking.
• Oversee facilities to ensure efficient utilization of space and consistent operation as the organization expands.
• Work with vendors to manage technology improvements and acquisition, including ongoing maintenance of systems, networks, and technical services.
• Ensure IT systems are secure, compatible, integrated, and aligned with current and projected needs.
• Maintain appropriate, affordable insurance for business, directors, and staff.
Loan Portfolio Management
• Supervise WEDI’s Loan Portfolio Specialist
• Oversee the monitoring of the loan program post- approval and ensure compliance with all applicable regulations
• Oversee the analysis of the loan portfolio, including collections, problem resolution, and workouts with the support of a board- and volunteer-staffed task force.
• Oversee the loan program administration, including policies and procedures from loan approval to full repayment.
• Oversee the reporting of the portfolio and its impact

Requirements:

WWW.WEDIBUFFALO.ORG
436 Grant Street | Buffalo, NY 14213 | (716) 393-4088 | info@wedibuffalo.org
funders, foundations, and WEDI’s board of directors; oversee the preparation and communication of monthly and annual financial statements.
• Oversee financing strategies and activities as well as banking relationships
• Ensure maintenance of appropriate internal controls and financial procedures.
• Ensure legal and regulatory compliance regarding all financial functions
• Primary liaison with outside auditors and finance committees; responsible for leading the audit planning, significant accounting policies and their adoption, and financial statement preparation and disclosure. Review tax returns prepared by outside accountants prior to organization’s officer sign‐off. Work with accountants on planning.
Operations and Human Resources
• Supervise WEDI’s Administrative Specialist staff member
• Further develop WEDI’s administration and human resources capabilities. Identify and evaluate opportunities to enhance professional development, staff benefits, and recruiting.
• Work with payroll processing company and oversee internal time tracking.
• Oversee facilities to ensure efficient utilization of space and consistent operation as the organization expands.
• Work with vendors to manage technology improvements and acquisition, including ongoing maintenance of systems, networks, and technical services.
• Ensure IT systems are secure, compatible, integrated, and aligned with current and projected needs.
• Maintain appropriate, affordable insurance for business, directors, and staff.
Loan Portfolio Management
• Supervise WEDI’s Loan Portfolio Specialist
• Oversee the monitoring of the loan program post- approval and ensure compliance with all applicable regulations
• Oversee the analysis of the loan portfolio, including collections, problem resolution, and workouts with the support of a board- and volunteer-staffed task force.
• Oversee the loan program administration, including policies and procedures from loan approval to full repayment.
• Oversee the reporting of the portfolio and its impact
Qualifications
The Finance and Operations Director will have the following experience and attributes:
• A minimum of a BS in Finance, Accounting, Business, or related field; CPA or MBA would be a plus.
• At least two years of experience in accounting, finance, audit, tax, or related field, preferably in a complex organization that has multiple business lines. Five years of experience or more is a significant benefit.
• Entrepreneurial character and interest in a startup environment
• The ability to gather and evaluate financial information.
• The ability to perform successfully in a senior financial‐management role, partnering with executive staff, resulting in the development and implementation of creative financial management strategies.
• Significant experience in or knowledge of nonprofit accounting, including sophisticated fund and grant accounting, compliance, and reporting. Experience in a Community Development Financial Institution would also be a benefit.
• Proficient in Microsoft Office, accounting and loan management software programs, network administration, e-mail and internet, and willingness to expand skill base.
• Use of collaborative and facilitative approach and the flexibility to work with broad range of cultures, personalities, and work styles.
• Ability to demonstrate the greatest level of flexibility in an environment with frequently changing priorities required to meet the needs of WEDI’s internal and external customers.
• Excellent written and oral communication skills
• Demonstrated leadership ability, team management, and interpersonal skills.
• Excellent analytical and abstract reasoning skills, plus excellent organization skills.
• Commitment to community development, helping low-income communities, and a strong work ethic.

Compensation:

Salary will be commensurate with education and experience and between $40,000 and $50,000. WEDI includes health insurance with a full-time position.

How to Apply:

Please send a resume, cover letter, and salary requirements to jobs@wedibuffalo.org.

Associate, Loan Administrator Opportunity Finance Network (OFN)
Washington, D.C., DC
Job Function: Lending/Loan Operations
Posted: August 17, 2018

Background:

OFN is a leading national network of CDFIs (community development financial institutions) with offices in Philadelphia and Washington D.C. In pursuit of a mission to align capital with social, economic, and political justice, OFN supports its member CDFIs with money, strength, and voice to drive transformational change in underserved communities nationwide.

Position Summary:

This position is primarily responsible for assisting the Vice President, Loan Operations in the administration of OFN’s loan portfolio. OFN’s portfolio includes the CDFI Bond Guarantee Program loans, OFN’s on-balance sheet loan portfolio, and managed loan funds. Such assistance will include maintaining and validating data in the loan management system, cash and collateral monitoring, and loan servicing monitoring and recordkeeping.

Responsibilities:

General Loan Administration responsibilities include but are not limited to:

  •     Prepare, collect and coordinate loan documentation and internal funding requests.
  •     Coordinate and implement the on-boarding of new loans and modifications to existing loans.
  •     Prepare timely submissions of internal and external departmental reports.
  •     Assist with the continued implementation of a Loan Origination/Servicing/Accounting System.
  •     Review quarterly interest payments from accounting for accuracy.
  •     Prepare and review invoices for loans and asset management.
  •     Preserve, maintain and update borrower files and legal documents as needed.
  •     Assist other financial services team members on projects or deliverables, as requested by the VP, Loan Operations.

Bond Guarantee Program Responsibilities include but are not limited to:

  •     Support the preparation and submission of the Bond Guarantee Program application via collection, organization and remittal of financial documents.
  •     Review and coordinate documents required to draw down on Bond funds for completeness and eligibility with the Bond Guarantee Program requirements.
  •     Provide payment oversight of Bond Loans and monitor Bond Loan collateral.
  •     Track and submit monthly, quarterly and annual reports to the CDFI Fund to support compliance with the terms and conditions of the Bond documents via database management systems.
  •     Perform other report administration as required.
  •     Education and Experience:
  •     Bachelor’s Degree or 5+ years direct work experience required in lieu of a degree.
  •     1-3 years of experience in lending markets that have similar characteristics to the loans of OFN, and/or title or mortgage industry experienced required.
  •     Experience in loan operations with a financial and /or nonprofit institutions preferred.
  •     Experience in multi-party lending structures, with borrowers, lenders, banks and servicers and backup servicers preferred.
  •     Experience preparing loan documents utilizing a Loan Servicing Software or standard templates as well as CRM system experience desirable.
  •     Experience or knowledge of the CDFI Industry a plus.
  •     Experience in nonprofit or small office environment a plus.

Requirements:

  •     Knowledge of accounting or lending practices required.
  •     Superior analytical and organizational skills required with a keen attention to detail.
  •     Superior written and verbal communication skills required with emphasis on clarity, conciseness and relevance.
  •     Ability to understand and modify financial statements is preferred.
  •     Ability to understand loan documentation is required.
  •     Ability to review the work of other partners/subcontractors is required.
  •     Superior interpersonal skills and ability to work well with diverse constituents is required.
  •     Knowledge of and commitment to community development preferred.
  •     Advanced Excel skills with an above average understanding of database software is required.
  •     Ability to work independently or in team environment as required.
  •     Ability to manage multiple tasks effectively and efficiently under moderate supervision.
  •     Some travel required (<10% of time).
  •     No extraordinary physical requirements beyond ability to travel.  
  •     Job involves normal physical requirements for an office position.

Compensation:

TBD

How to Apply:

To Apply visit our online application portal at: https://theapplicantmanager.com/jobs?pos=OF139.

Senior Analyst/Analyst HR&A Advisors
Washington, DC
Job Function: Project Management
Posted: August 16, 2018

Background:

HR&A Advisors is a top real estate and economic development consulting firm. We provide strategic advisory services for clients in the public, private, and non-profit sectors to solve some of the most complex challenges of urban development. Our projects range in scale from buildings to neighborhoods, public parks to infrastructure systems, and from program design and management to public policy development and implementation. We care about improving the quality of urban life, and we are increasingly focused on the challenges of inclusivity, infrastructure, and technological innovation in cities as we advance public-private development projects that improve economic, environmental, and social outcomes. Our Washington, DC office is a tight-knit team that works across the country and collaborates closely with colleagues in HR&A’s other offices in New York, Dallas, Los Angeles, and Raleigh.

We are former public servants, real estate developers, urban planners, city officials, activists, and economists. We are unique in our ability to create value by integrating disparate disciplines for our clients, and we often lead teams with engineers, architects, lawyers, community organizers, and other specialists.

Position Summary:

We are seeking Senior Analyst/Analyst candidates to join our Washington, DC office. Our analytical staff form the foundation of our team-oriented and collaborative structure, and help to drive our data-driven approach to city building. We are looking for candidates with strong quantitative and qualitative skills, a passion for urban development and policy, and a deep curiosity about the challenges and opportunities facing cities today. Our new team members will learn quickly, possess excellent written and verbal communication skills; and be able to manage multiple assignments at once. They will think independently, act entrepreneurially, and pay attention to the details. Ideal analysts will bring a demonstrated capacity for leadership, critical thinking, and creativity. All positions provide significant opportunities for growth and diversity within the role as individual project portfolios change. HR&A staff are often generalists, but have the opportunity to specialize over time.

Responsibilities:

Real estate financial analysis
Affordable housing analysis

Requirements:

3-4 years of experience and a master's degree

Compensation:

Competitive based on experience.

How to Apply:

Please submit an application at https://www.hraadvisors.com/career-opportunities/

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

Background:

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

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

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

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

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

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

PCG’s office is located in Washington DC.

Position Summary:

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

Responsibilities:

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

Requirements:

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

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

Compensation:

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

How to Apply:

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

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

Background:

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

 

Position Summary:

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

Responsibilities:

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

Requirements:

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

Compensation:

Salary commensurate with experience, plus full benefits package

How to Apply:

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

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

Background:

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

Position Summary:

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

Responsibilities:

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

Requirements:

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

Compensation:

Please submit salary requirements with cover letter & resume.

How to Apply:

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

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

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

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

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

Background:

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

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

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

Position Summary:

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

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

Responsibilities:

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

Requirements:

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

Compensation:

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

How to Apply:

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

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

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

Business Loan Officer Cooperative Federal
Syracuse, NY
Job Function: Lending/Loan Operations
Posted: August 2, 2018

Background:

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

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

Micro and small business lending has been a core component of Cooperative Federal’s mission since our inception. With customized products and flexible criteria, we help entrepreneurs access right-sized business capital, create jobs and strengthen our local economy. Our programs focus on serving businesses than do not qualify for conventional financing, including start-ups; providing fair credit to counter discrimination; and creating opportunities in marginalized communities. 

Position Summary:

Cooperative Federal is looking for candidates who have a commitment to our mission and can demonstrate their creativity, detail-orientation, diligence, efficiency, enthusiasm, flexibility, organization, thoughtfulness, and sense of humor through service to small business and entrepreneurs.
The Business Loan Officer is a key member Cooperative Federal’s lending team. By working with colleagues and community partners, this staff member will help Cooperative Federal scale up opportunity lending in the Greater Syracuse Area, with an emphasis on micro loans (under $50,000) as well as small business loans (typically up to $100,000, with occasional larger deals).

Responsibilities:

1) Support the creation of loan opportunities: Originate loans to small and micro businesses by supporting loan intake; analyzing applicants’ financial, project and management capacity; and preparing loan packages and recommendations.  
● Organize loan intake and manage the application pipeline.
  • Maintain pipeline reports to monitor incoming and in-progress loan applications.
  • Verify that applicants receive ongoing communications regarding the status of their loan application.
  • Monitor the availability of loan capital and loss mitigation from Cooperative Federal’s dedicated business loan funds.
  • Provide other assistance and support to the Business Loan Officer & Advisor, as needed.
● Underwrite financing requests in a timely manner and within lending guidelines, and work with borrowers through all stages of the financing process.
  • Process loan applications, verifying the accuracy and completeness of each file.
  • Spread applicants’ financials; provide historical analysis of financial strengths and weakness in order to assess capacity for new debt; analyze borrower budget and projections to assess and stress test debt service capacity.
  • Compare applicants’ liquidity, profitability, and credit histories with similar organizations within industry environment to determine risk relative to sector.   
  • Provide an assessment of the collateral and contribution to risk mitigation.
  • Summarize applicants’ financial information; complete risk ratings for loan proposals; input relevant information into risk evaluation forms and transmittal summaries.
  • Prepare and present loan requests to the Business Loan Committee for review and approval, including all relevant underwriting information and recommendations.
  • Draft commitment letters and loan closing documents; coordinate closings; coordinate draw inspections and approvals as necessary.
 
2) Sustain the opportunities created: Ensure effective operations and risk management in Cooperative Federal’s business loan portfolio through post-loan oversight and support, including monitoring portfolio performance and completing Annual Reviews.
● Complete periodic review and analysis of borrower data, and draw a conclusion if there is a change in the level of risk associated with borrowers. 
  • Obtain required financial information from borrowers, for Annual Reviews (as needed) and other reporting purposes. 
  • Prepare borrowers’ billing statements and late letters. 
  • Monitor periodically the status of loans that are on the watch list and/or warrant close monitoring (i.e., quarterly reviews, payment history, and covenant compliance).
  • Make site visits to borrowers’ businesses when necessary.
  • Underwrite loan amendments and loan workouts when needed.
  • Report on the loan pipeline and portfolio.
  • Manage collections process, make collections calls, and participate in loan collections, workouts, and enforcement actions when necessary
 
3) Other responsibilities: Collaborate with colleagues and partners on program development, management, expansion, outreach, and strategic planning.
● Support marketing and outreach efforts.
  • Attend and participate in occasional outreach and networking events (back up coverage for Business Loan Officer & Advisor).
  • Engage actively with community partners, seeking to understand their circumstances, challenges, expectations and needs, and suggesting solutions to meet those needs.
● Attend and participate in the Business Program Committee, including completion of tasks as assigned. 
● Perform general duties as expected from Cooperative Federal’s lending staff. 
  • Keep credit documentation organized both physically and digitally. 
  • Maintain client confidentially and maintain files and data in a secured manner.
  • Remain up to date and knowledgeable on internal policies and procedures.
  • Carry out other such duties as may be assigned or requested.
  • Unusual Requirements: Occasional evening and weekend work.

Requirements:

● Bachelor's degree or equivalent experience
● Experience with or knowledge of small business lending, alternative business lending, small business management, economic development, or technical assistance, mentoring or consulting, particularly with micro businesses or self-employed is desirable
● Proficiency in Microsoft Excel, Microsoft Word and Microsoft Outlook
● Interest in learning and mastery of the craft of community development micro-business lending
● The ideal candidate has experience evaluating unconventional borrowers, managing client relationships and navigating complex interactive situations both on the phone and in person.
● Superior writing, verbal and interpersonal skills
● This position requires someone who thrives in multi-cultural settings, is passionate about financial capacity-building and economic justice. Experience working (or volunteering) with a diverse range of clients and colleagues, and with underserved populations is a must
● The ideal candidate will have a demonstrated interest in empowering disadvantaged communities and low-income people, and the skills to build new relationships and communicate effectively and enthusiastically about Cooperative Federal.
● Fluency in a second language is desirable. Bilingual (English/Spanish) preferred.
● An openness to learning new skills and systems, a desire to develop new program approaches in response to poverty issues, and a proactive approach to building his/her skill-sets.

Compensation:

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

How to Apply:

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

You can also direct resumes, cover letters and inquiries to:

Cooperative Federal, Attn: Staff Search, 800 N Salina St, Syracuse, NY 13208
To apply by fax, send resume and cover letter to (315) 476-0567, ATTN: Staff Search

Loan Officer Baltimore Business Lending, LLC
Baltimore, MD
Job Function: Underwriting
Posted: August 2, 2018

Background:

Baltimore Business Lending (BBL) is a non-profit small business lending limited liability company and wholly-owned subsidiary of Baltimore Community Lending (BCL), a certified Community Development Financial Institution (CDFI). The BCL mission is to support the revitalization and strengthening of Baltimore neighborhoods through innovative and flexible financing programs. The Company has a 29 year history of providing construction and development financing to non-profit and for-profit developers of properties in Baltimore City neighborhoods and neighborhood commercial districts. BBL is a natural extension of the BCL efforts to improve access to capital to underserved segments of the Baltimore City community, provide economic opportunity to otherwise credit worthy individuals, and help strengthen and improve the overall Baltimore City economy.  BBL and BCL are Equal Opportunity Employers (EOE).

Position Summary:

The Loan Officer- Small Business is responsible for identifying potential new customers and originating loans to those prospective borrowers on behalf of Baltimore Business Lending (BBL). The Loan Officer reports directly to the Director of BBL and performs such other duties and responsibilities as assigned by the Director of BBL, and the President/CEO of BCL. This position provides lending support to the Director of BBL. The primary function is to work with potential clients to assist them in completing their application for a loan to establish or strengthen a small business in Baltimore City. A drive to assist people to access capital in order to achieve financial success and improve the overall economy of Baltimore City is a key requirement. We are committed to be as supportive as possible and the candidate in addition to experience with small business financing will need to understand how to mitigate unnecessary risk. Outreach and marketing, being able to take a complete application, assisting in providing client services are important and requirements for this position. This position requires a significant amount of customer contact. The primary functions of the position are to serve otherwise credit worthy people who lack existing equity or collateral as a way to help grow the Baltimore City economy while providing opportunity for wealth building to its citizens.

Responsibilities:

• Provide basic technical assistance and information to the public, potential loan program applicants and others with a need for information and assistance regarding the general guidelines, requirements, regulations and procedures governing BBL loan products for which the loan officer has or may have responsibility.
• Intake Loan Applications into the LendingFront portal and review completed
applications to determine basic program eligibility within the current regulations and guidelines for all programs administered by BBL.
• Underwrite each loan based on normal guidelines for small business loans and the additional loan overlays and guidelines provided by BBL. Present each loan application to the Director of BBL for review of the decision provided by the loan officer based on the underwriting guidelines and financing capacity of BBL. 
• Review and analyze applications which are found to be program eligible for financial feasibility consistent with BBL underwriting standards and approved loan policies and procedures, which shall include, but is not limited to the following tests:
1. Full Business Plan, including a Marketing Plan,
2. Accuracy and completeness of required documents,
3. Development costs,
4. Availability of proposed funding including other funding sources,
5. Accuracy, rationality and completeness of projected operating expenses and debt service,
6. Eligibility for the program including market feasibility, ability to handle proposed rents and carrying costs.
7. Site visits,
8. Personal and phone interviews, -
9. Review of public records, etc. as needed,
10. Review of neighborhood condition,
11. Any other information relevant to loan feasibility analysis.
• Develop, maintain and continuously update his/her knowledge of directly applicable laws, regulations, guidelines and procedures affecting BBL products or programs for which the loan officer has responsibility. This includes knowledge of basic eligibility, financial, market and physical feasibility requirements and all other factors affecting approval or disapproval of loan applications.
• Negotiate terms of a loan within loan policy and in consultation with Director of BBL or President/CEO of BCL. All proposed variances from approved lending policies must be approved in writing by the President/CEO.
• Review “BBL” Loan Packages prior to submission for completeness content and project support documentation
• Interact with legal counsel regarding loan documentation and any legal issues regarding a particular loan.
• Meet with private, public or other lenders regarding any potential transactions and finding programs available to assist with “BBL” projects.
• Make site visits for existing and potential transactions to observe current environment for consistency and reasonableness of the project and existing neighborhood conditions.
• With regard to each application in the workload, the Officer is expected to keep their supervisor informed of significant progress or problems as they arise, and seek assistance to resolve problems as appropriate.
• Disseminate information through a series of regularly required reports.
• Assist the Finance Department/Portfolio team in performing annual loan reviews.
• Demonstrate a proficiency in effectively communicating technical concepts, writing letters, memoranda, loan summaries, position papers.
• Supervise maintenance of official files, organized in the standard BCL prescribed manner, properly secured and available in the prescribed location.
• Work as a team member, ever conscious of deadline needs, work flow and assignment schedules.

Requirements:

Minimum undergraduate or college degree with five (5) or more years’ experience including

  1.  lending experience, in business finance lending;
  2. work experience or familiarity with community development a plus
  3. strong communication, writing 
  4. proficient computer skills including Microsoft Excel, Outlook, Word, and Power Point.

Compensation:

Compensation, paid as a salary with benefits, is commensurate with experience and qualifications. The excellent benefits package includes 40lk plan with match, health insurance, life and disability insurance, and paid annual leave.

How to Apply:

Application Instructions: Please submit a cover letter, resume and salary requirements to Resume@BCLending.org with “Loan Officer” in the subject line. 

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