Background:
Craft3 is a nonprofit Community Development Financial Institution (CDFI) with a mission to strengthen economic, ecological, and family resilience throughout Oregon and Washington communities. We do this by providing loans to entrepreneurs, nonprofits, individuals, including those without access to traditional financing. We then complement these financial resources with our expertise, professional connections, and other advocacy for our clients. Learn more at www.craft3.org
Position Summary:
Craft3 is looking for our Compliance Reporting Lead! Are you a great communicator and love to engage with multiple stakeholders and funders? Experienced in compliance, accounting, data reporting, or fund management? We need your experience and skills for award documentation, funder, grantor, government reporting and compliance activities in our Compliance department! Even if you don’t meet all the requirements of the job description – please go ahead and apply anyway. Craft3 is devoted to fostering, cultivating, and preserving a culture of diversity and inclusion, and we embrace the contributions of all.
Responsibilities:
The Compliance & Reporting Lead (CRL) is responsible for the documentation, coordination and completion of all funder, grantor, government reporting and compliance activities. The CRL is responsible for the integrity and maintenance of the Funder Compliance and Corporate Compliance systems, ensuring all records are relevant. The CRL will work with funders, grantors, and business unit leads across the organization.
Requirements:
Minimum three+ years’ experience in accounting, finance, or compliance, preferably with a non-profit organization; or equivalent combination of education and experience.
Compensation:
Craft3 offers a competitive salary $53,000 - $77,000/annually plus benefits: medical, dental, vision, Life/AD&D, LTD/STD insurance, paid sick and vacation leave, volunteer time off, wellness program, transportation, flexible schedule, work from home (temporary) and 403B Retirement savings plan with employer match.
How to Apply:
To view the complete job description and Apply online at www.craft3.org/Careers/Jobs
Application Deadline: Open Until Filled
Craft3 is an equal opportunity employer; women and minorities are encouraged to apply.
Background:
Craft3 is a nonprofit Community Development Financial Institution (CDFI) with a mission to strengthen economic, ecological, and family resilience throughout Oregon and Washington communities. We do this by providing loans to entrepreneurs, nonprofits, individuals, including those without access to traditional financing. We then complement these financial resources with our expertise, professional connections, and other advocacy for our clients. Learn more at www.craft3.org
Position Summary:
Craft3 seeks a Business Services Program Lead. Are you collaborative and passionate for supporting underserved businesses? Do you have experience in mentoring small businesses, and helping businesses navigate resources within the community? We are looking for someone to contribute to the development and management of Craft3’s new business services program. Even if you don’t meet all the requirements of the job description – please go ahead and apply anyway. Craft3 is devoted to fostering, cultivating, and preserving a culture of diversity and inclusion, and embraces the contributions of all.
Responsibilities:
The Business Services Program Lead (BSPL) develops and identifies underserved small businesses, direct business services, and referrals to a curated network of culturally competent technical assistance and professional service providers across the region. Target borrowers include small and medium for profit and nonprofit businesses, particularly those owned by people of color, women, veterans, and immigrants, who are unable to qualify for loans from traditional financial institutions. As part of a collaborative team of professionals, the BSPL will be responsible for contributing to the development of Craft3’s business services program.
Requirements:
Five years’ experience in community development, program management, small business development, or business advisory services. Experience in community development finance or commercial lending a plus.
Compensation:
Craft3 offers a competitive salary $65,000 - $89,000/annually plus benefits: medical, dental, vision, Life/AD&D, LTD/STD insurance, paid sick and vacation leave, volunteer time off, wellness program, transportation, flexible schedule, work from home (temporary) and 403B Retirement savings plan with employer match.
How to Apply:
To view the complete job description and apply online at www.craft3.org/Careers/Jobs
Application Deadline: Open Until Filled
Craft3 is an equal opportunity employer; women and minorities are encouraged to apply.
Background:
Craft3 is a nonprofit Community Development Financial Institution (CDFI) with a mission to strengthen economic, ecological, and family resilience throughout Oregon and Washington communities. We do this by providing loans to entrepreneurs, nonprofits, individuals, including those without access to traditional financing. We then complement these financial resources with our expertise, professional connections, and other advocacy for our clients. Learn more at www.craft3.org
Position Summary:
Craft3 seeks a Business Services Program Lead. Are you collaborative and passionate for supporting underserved businesses? Do you have experience in mentoring small businesses, and helping businesses navigate resources within the community? We are looking for someone to contribute to the development and management of Craft3’s new business services program. Even if you don’t meet all the requirements of the job description – please go ahead and apply anyway. Craft3 is devoted to fostering, cultivating, and preserving a culture of diversity and inclusion, and embraces the contributions of all.
Responsibilities:
The Business Services Program Lead (BSPL) develops and identifies underserved small businesses, direct business services, and referrals to a curated network of culturally competent technical assistance and professional service providers across the region. Target borrowers include small and medium for profit and nonprofit businesses, particularly those owned by people of color, women, veterans, and immigrants, who are unable to qualify for loans from traditional financial institutions. As part of a collaborative team of professionals, the BSPL will be responsible for contributing to the development of Craft3’s business services program.
Requirements:
Five years’ experience in community development, program management, small business development, or business advisory services. Experience in community development finance or commercial lending a plus.
Compensation:
Craft3 offers a competitive salary $65,000 - $89,000/annually plus benefits: medical, dental, vision, Life/AD&D, LTD/STD insurance, paid sick and vacation leave, volunteer time off, wellness program, transportation, flexible schedule, work from home (temporary) and 403B Retirement savings plan with employer match.
How to Apply:
To view the complete job description and apply online at www.craft3.org/Careers/Jobs
Application Deadline: Open Until Filled
Craft3 is an equal opportunity employer; women and minorities are encouraged to apply.
Background:
Craft3 is a nonprofit Community Development Financial Institution (CDFI) with a mission to strengthen economic, ecological, and family resilience throughout Oregon and Washington communities. We do this by providing loans to entrepreneurs, nonprofits, individuals, including those without access to traditional financing. We then complement these financial resources with our expertise, professional connections, and other advocacy for our clients. Learn more at www.craft3.org
Position Summary:
Craft3 seeks a Business Services Program Lead. Are you collaborative and passionate for supporting underserved businesses? Do you have experience in mentoring small businesses, and helping businesses navigate resources within the community? We are looking for someone to contribute to the development and management of Craft3’s new business services program. Even if you don’t meet all the requirements of the job description – please go ahead and apply anyway. Craft3 is devoted to fostering, cultivating, and preserving a culture of diversity and inclusion, and embraces the contributions of all.
Responsibilities:
The Business Services Program Lead (BSPL) develops and identifies underserved small businesses, direct business services, and referrals to a curated network of culturally competent technical assistance and professional service providers across the region. Target borrowers include small and medium for profit and nonprofit businesses, particularly those owned by people of color, women, veterans, and immigrants, who are unable to qualify for loans from traditional financial institutions. As part of a collaborative team of professionals, the BSPL will be responsible for contributing to the development of Craft3’s business services program.
Requirements:
Five years’ experience in community development, program management, small business development, or business advisory services. Experience in community development finance or commercial lending a plus.
Compensation:
Craft3 offers a competitive salary $65,000 - $89,000/annually plus benefits: medical, dental, vision, Life/AD&D, LTD/STD insurance, paid sick and vacation leave, volunteer time off, wellness program, transportation, flexible schedule, work from home (temporary) and 403B Retirement savings plan with employer match.
How to Apply:
To view the complete job description and apply online at www.craft3.org/Careers/Jobs
Application Deadline: Open Until Filled
Craft3 is an equal opportunity employer; women and minorities are encouraged to apply.
Background:
Florida Community Loan Fund (FCLF) is a nonprofit lending institution providing capital and expertise to make projects successful and help organizations improve lives and low-income communities throughout the Sunshine State. Established in 1994, FCLF operates statewide from a network of offices in Orlando, Tampa, Melbourne, Sarasota, and Fort Lauderdale. FCLF financing has helped more than 200 organizations succeed in their projects, providing over 580,000 Floridians annually with housing or social services through 375+ lending transactions to projects totaling over $1.21 billion. FCLF became Florida’s first certified statewide Community Development Financial Institution in 1996 and has been certified as a Community Development Entity since 2004.
Currently, FCLF has $98 million in total assets, a staff of 17, and an operating budget of $6 million. It has a growing loan portfolio of $82 million and has closed $288 million in New Markets Tax Credit investments. FCLF Strategic Plan emphasizes significant growth over the next 4 years and we are adding staff now to keep pace with this growth.
Position Summary:
FCLF is seeking an experienced Community Development Loan Officer to promote FCLF in the Central Florida area. Successful candidates will identify potential projects and will obtain, underwrite, and analyze loan applications for commercial loans to benefit primarily not-for-profit enterprises, which would be funded by loans facilitated through FCLF.
Responsibilities:
• Engage in and build relationships in the local community to create or expand a presence for FCLF. Develop and nurture relationships with nonprofit borrowers and potential borrowers, community leaders, funders, developers, and nonprofit entity leaders associated with development projects planned or underway within the community. Promote the potential strategies for utilizing FCLF financing to achieve community development objectives.
• Develop a lending pipeline as a priority by identifying projects which would meet the lending criteria of FCLF. Also, identify potential projects for the New Markets Tax Credit (NMTC) program or other specialized lending programs in which FCLF participates.
• Obtain, underwrite, and analyze loan applications for commercial loans to support community/economic development projects based on criteria established for each program and loan policies within each program. Perform due diligence, site inspections, appraisal review, financial statement and pro-forma credit analysis, and credit evaluations of potential borrowers. Prepare credit memos and supporting documentation and present loans for review or approval to the Chief Lending Officer and/or Chief Executive Officer; or Lending Committee.
• Draft and coordinate with the FCLF portfolio administration staff and Chief Lending Officer to issue commitment letters and to facilitate loan closings and monitor loan advances and disbursements.
• Monitor borrower relationships for borrower needs or difficulties. Increase, extend, modify and restructure loans as needed. Mitigate loan portfolio risk through coordination of post-closing technical assistance, extensions, restructurings and work-outs.
• Assist in the preparation of monthly Lending Committee material by contributing to reporting. Participate in periodic portfolio evaluations including presentation of recommendations for loan grades. Assist in the preparation of periodic written reports regarding the status of loan request and applications.
• Partner with technical assistance providers to deliver training services to prepare potential borrowers for the borrowing process.
• Participate in workshop, marketing and promotional activities and materials development for FCLF. Make workshop presentations and participate in forums which inform the public and special audiences about the opportunities for borrowers offered by FCLF.
Requirements:
• BS degree in Finance, Business or equivalent combination of education and experience.
• A minimum of 5 years of experience in the commercial/community development/real estate lending, public finance and/or multifamily development fields is required. Multiple sector experience is preferred.
• Demonstrated ability to source, evaluate and underwrite commercial lending projects, preferably in the community/economic development field.
• Knowledge of and experience in community development financial analysis; other underwriting experience is preferred.
• Ability and experience in delivering services consultatively to diverse constituencies required.
• Experience working in low-income communities.
• Outstanding communication skills, both spoken and written.
• Maturity, initiative, and flexibility required.
• Ability to work independently and coordinate with others located across the state.
• IT skills and the ability to quickly adapt to software.
• Analytical / quantitative analysis skills.
• Qualitative analysis and creative thinking skills.
• Organizational skills.
• Self-motivation skills.
• Research skills.
• Ability to meet deadlines and cope with pressure.
Compensation:
This position offers the unique opportunity to join an innovative organization with the vision and expertise to make a difference in disadvantaged communities throughout Florida.
• A competitive compensation package
• Very generous paid time off benefits program
• 403(b) plan with employer-paid contributions
• Opportunities to work with a dedicated team who are driven to aid distressed communities
How to Apply:
Please submit your resume via e-mail to vltorres@torreshrgroup.com along with a cover letter which specifically outlines your experience in the following:
• Your experience in commercial banking and/or nonprofit lending
• Number of years and position(s) held
Applications without a cover letter containing the above information will not be considered. No phone calls please.
Florida Community Loan Fund, Inc. is an equal opportunity employer. www.fclf.org
Background:
The Greater Milwaukee Foundation (GMF) is how Milwaukee works together. For over a century, we have helped generous people give back to the community. Together with donors and partners throughout the region, the Foundation invests in the potential of people and places, supports community-grown solutions and strives to end the systemic racism that holds our region back. Through the power of transformative philanthropy and social change, we are focused on shaping a future where everyone thrives – a Milwaukee for all.
Position Summary:
You can make a difference, as we are seeking an Impact Investing Manager! The Impact Investing Manager is responsible for providing leadership to the overall program, working with external partners to leverage investment opportunities, promote and secure investments in the GMF impact investing pool and to source investments that advance the Foundation’s strategic priorities. This position manages deal identification and oversees underwriting, risk assessment, deal structuring and closing process. The Impact Investing Manager assists with fund development and, with Marketing and Communications, creation of marketing materials, articles and presentations on impact investing. The incumbent works closely with impact investing staff, leadership, the community at large, nonprofit and for-profit entities.
Responsibilities:
• Works with broad community networks to identify opportunities for impact investments that advance the Foundation’s strategic priorities.
• Oversees process for evaluation and analysis of impact investment deals to recommend for investment including underwriting, deal structuring, managing the closing process and providing portfolio management.
• Partners with President/CEO, Development and Philanthropic Services (DPS) staff and others to identify donors who have a passion and interest in impact investing and participates in solicitations with DPS staff.
• Identifies external prospects and public sector partners to invest in the impact investing pool, participates in the cultivation of those relationships and solicitation and securing of investments, in coordination with DPS.
• Works collaboratively with broad range of partners including donors, key stakeholders, funders, foundations, financial institutions and community organizations to promote impact investing as a tool to advance GMF’s mission.
• Represents GMF in public forums, expanding community outreach on impact investing and strategic priorities.
• Shares industry insights and best practices internally and externally, including conferences and relevant forums.
• Provides or recommends technical assistance to investees within the impact investing portfolio on financial health, financing needs, project feasibility, etc.
• Supports the development of communications (e.g. reports, case studies, research and social media) related to the impact investment work.
• Stays current on relevant research, indicator findings and national research on the impact investing industry, translating findings to the local context so it is relevant and useful.
• Manages Impact Investing Committee of the Board and technical subcommittee. Coordinates cross-functional internal impact investing team.
Requirements:
• Bachelor’s degree required in any of the following fields: finance, economics, real estate, urban planning, environment, law, nonprofit management, business administration; combination of relevant experience and training outside of traditional college program will be considered. Graduate degree preferred.
• Ten (10) or more years of professional experience in community development banking, finance, real estate development or corporate finance required.
• Experience in community economic development, real estate development, private equity, community banking or community development financial institutions preferred. Experience in evaluating and loan underwriting desired, and established networks within the community preferred.
• Demonstrated commitment to racial equity and inclusion.
• Ability to define problems, collect data, establish facts and draw valid conclusions.
• Ability to make effective and persuasive speeches and presentations on controversial or complex topics to top management, public groups and/or boards of directors.
• Ability to effectively present information and respond to questions from applicants, donors, stakeholders, partners, board members, managers and the general public.
• Must have a valid driver’s license, proof of auto insurance and reliable transportation.
• Criminal background and credit checks are required for this position.
Compensation:
We offer an excellent benefit package, which includes health, dental, vision, flexible spending, life insurance, 403(b) retirement plan, paid time off (PTO), educational assistance and more!
Due to COVID-19, our offices are currently operating with employees working remotely. The successful candidate may be required to work remotely in the interim. We recognize that at this moment, during the pandemic, it is a uniquely difficult time for most people and we aim to be as flexible and supportive as possible in both the recruitment for and onboarding of this position.
The Greater Milwaukee Foundation is an equal opportunity employer and encourages people of diverse backgrounds to apply. We celebrate diversity and are committed to creating an inclusive environment for all employees.
How to Apply:
Application Instructions: Please include resume, cover letter and salary requirements when applying
Background:
NMSC delivers creative capital strategies and capacity boosting services to the Community Impact Investment market. We offer a range of investment services, from full-service impact investment management to fund administration. We have invested more than $1 billion in underinvested communities, have AUM of $400 million, and $1 billion under administration. NMSC's values are: 1. Do Good, Better – we strive to make a difference, we overdeliver to our clients and each other, and we try hard because we can't help it 2. Own It to Earn It – we take responsibility and see it through, everyone makes important decisions, and we don't take our partners' trust in us for granted 3. New Is Our Normal – we are comfortable blazing new trails, we see every challenge as an opportunity to grow, and we love creating solutions and filling gaps 4. Enjoy the Work – we have fun and celebrate the wins of our colleagues and partners
Position Summary:
New Markets Support Company (NMSC) is seeking a full-time Vice President (VP) of Fund Administration to lead fund accounting, reporting, and administration for a growing impact-oriented financial services company while supervising and developing a growing accounting staff. This position will focus on the team’s execution of date-driven financial reporting deliverables for entities under NMSC management. They will interact with internal and external clients regularly with a concentration on customer service and satisfaction.
Key responsibilities include:
• Oversight of the quarterly and annual reporting process for all NMSC administered entities, ensuring that all reporting deadlines are met
• Serving as the accounting subject matter expert related to fund and investment structuring, GAAP and tax reporting, and other activities related to the execution of fund reporting
• Ownership of fund administration contracts, managing their operational processes, required reporting, and client relations.
• Supervising, mentoring, and training of fund accounting staff
• Monitoring staffing levels, team workload, and the operational design of the team; making optimization suggestions as needed
• Actively identifying company and departmental process and system improvements and implementation of improvement initiatives
• Managing the relationships with NMSC’s outside accounting firms
• Always maintaining a proactive customer focus, enhancing current service levels, and delivering beyond client expectations
Responsibilities:
Performance Objectives
Primary Objective: The principal objective is to oversee the fund administration team’s accounting and reporting responsibilities ensuring timely preparation and delivery of required financial reporting to internal and external parties for all entities managed by NMSC. Providing excellent customer service will be the bedrock of achieving this objective. To overdeliver to our clients and “do good, better,” the VP will develop a deep understanding of the entities we manage, our products and services, and our internal processes.
Secondary Objective: To successfully deliver to our clients, the individual will also focus on building a cohesive, informed team and an efficient process for executing the team’s responsibilities. They will be a leader in identifying inefficiencies and pushing for improvements throughout the processes that impact financial reporting and client satisfaction. To this end, the VP will engage in cross-functional collaboration between fund administration teams (loan servicing, treasury, and fund accounting) to help ensure the activities within fund administration are in sync and operating effectively.
Operational Review: The VP will assess current accounting and reporting practices, processes, and team structure and make recommendations for improvements.
Technical Competency: The VP must have strong knowledge and ability to apply and stay abreast of GAAP, IRS, and tax issues, as well as an understanding of System and Organization Controls (SOC 1 financial reporting controls) as they relate to NMSC and the entities it manages to ensure compliance with relevant rules and requirements. They will also possess a working knowledge of accounting systems
Address Problems & Make Improvements: In anticipation of growth, NMSC is focusing on process and system improvements throughout the organization and we anticipate the fund administration functions to be a significant beneficiary of this investment. The VP will evaluate current processes and systems and utilize collaborative techniques and strong leadership to influence necessary changes with a roll up the sleeves attitude in pushing forward changes in the department.
Team Development & Influencing: They will actively oversee the reporting responsibilities of the team, meeting regularly with staff to monitor the status of quarterly reporting and other deliverables. They will consistently display leadership abilities when supervising staff: continually and effectively manage, motivate, develop, mentor, train, and communicate with staff delegating where appropriate to develop staff skills and increase department efficiency.
Personality & Interpersonal Skills: The VP must have a customer service drive and a desire to build relationships throughout NMSC and with our clients. The VP will need to establish credibility with the functional units within NMSC by demonstrating technical expertise and a willingness to work with others to achieve goals. They should take their work seriously, but not themselves.
Tenacity: The VP should be comfortable pushing back on how things are done today, while also communicating effectively to gain critical buy-in throughout the organization. They will work hard because they cannot help it and take on all challenges with an “own it to earn it” attitude.
Requirements:
A successful VP of Fund Administration will possess advanced knowledge of accounting and financial reporting. They will be collaborative, building strong relationships with each functional unit within NMSC, and use influencing skills, when necessary, to ensure that NMSC meets customer expectations. They have experience with accounting processes and systems, managing internal and external relationships, and executing reporting deliverables. The VP also has excellent communication skills, and enjoys managing, motivating, and retaining employees to help achieve business results. An ideal candidate will have 5 plus years of accounting, reporting, and fund administration experience with a CPA designation preferred but not required, along with a proven track record of delivering high-level customer service.
Compensation:
We offer a competitive salary, along with a comprehensive benefits package.
How to Apply:
Submit resume and cover letter with salary requirements via email to Andrea Miranda at amiranda@nefinc.org
NEF/NMSC IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY, EQUITY, & INCLUSION
Background:
Craft3 is a nonprofit Community Development Financial Institution (CDFI) with a mission to strengthen economic, ecological, and family resilience throughout Oregon and Washington communities. We do this by providing loans to entrepreneurs, nonprofits, individuals, including those without access to traditional financing. We then complement these financial resources with our expertise, professional connections, and other advocacy for our clients. Learn more at www.craft3.org
Position Summary:
Craft3 seeks a Business Services Program Lead. Are you collaborative and passionate for supporting underserved businesses? Do you have experience in mentoring small businesses, and helping businesses navigate resources within the community? We are looking for someone to contribute to the development and management of Craft3’s new business services program. Even if you don’t meet all the requirements of the job description – please go ahead and apply anyway. Craft3 is devoted to fostering, cultivating, and preserving a culture of diversity and inclusion, and embraces the contributions of all.
Responsibilities:
The Business Services Program Lead (BSPL) develops and identifies underserved small businesses, direct business services, and referrals to a curated network of culturally competent technical assistance and professional service providers across the region. Target borrowers include small and medium for profit and nonprofit businesses, particularly those owned by people of color, women, veterans, and immigrants, who are unable to qualify for loans from traditional financial institutions. As part of a collaborative team of professionals, the BSPL will be responsible for contributing to the development of Craft3’s business services program.
Requirements:
Five years’ experience in community development, program management, small business development, or business advisory services. Experience in community development finance or commercial lending a plus.
Compensation:
Craft3 offers a competitive salary $65,000 - $89,000/annually plus benefits: medical, dental, vision, Life/AD&D, LTD/STD insurance, paid sick and vacation leave, volunteer time off, wellness program, transportation, flexible schedule, work from home (temporary) and 403B Retirement savings plan with employer match.
How to Apply:
To view the complete job description and apply online at www.craft3.org/Careers/Jobs
Application Deadline: Open Until Filled
Craft3 is an equal opportunity employer; women and minorities are encouraged to apply.
Background:
Institute Capital provides debt and investment capital to affordable housing developers, community-based development organizations (CBDOs) and small businesses. Our goal is to revitalize and transform diverse communities through affordable housing, entrepreneurship, HBCU collaborations and community development.
As a certified Community Development Financial Institution (CDFI), Institute Capital seeks to provide high-impact lending to borrowers who cannot typically get capital from mainstream financial institutions, and who are working to create thriving economies in communities that represent the most diverse populations.
Position Summary:
The Loan Officer (LO) is responsible for originating and analyzing all loan requests for Institute Capital’s (ICAP) small business, community-based organizations and affordable housing project lending, and preparing files for underwriting submission. All loans will be originated through the LoanWell platform but may require additional origination efforts.
The market includes for-profit operating businesses, community-based non-profit organizations, and affordable housing developers, with a targeted effort to minority- and women-owned/led businesses.
The responsibilities of the LO include loan origination with new and existing clients, analyzing business cashflow, working with the business development specialists and loan processors to ensure all documents and information is acquired for underwriting, and performing pre-underwriting analysis.
The LO will also be responsible for working with the Institute’s internal technical assistance (TA) programs by communicating loan updates with client’s referred by TA program staff. The LO will coordinate origination and processing efforts with the processing staff of ICAP. As part of the role, the LO will be responsible for using a project management tool to keep all staff involved up-to-date on loan status.
Responsibilities:
PRINCIPAL DUTIES & RESPONSIBILITIES
LOAN ANALYSIS/ORIGINATION
• Coordinate loan origination with loan origination/processing staff, using the Loan Well platform and project management platform, to ensure the client experience is coordinated and clear. Assess loan requests, including an overview analysis of financial statements and management capacity to ensure prospective borrowers are a good fit with our credit and mission standards.
• Provide excellent customer service, including prompt responses, basic technical assistance and referrals to internal technical assistance programs as appropriate.
OTHER DUTIES
Assist in pre-closing process and servicing loans, working with portfolio management team on troubled loans as needed. Perform other duties as may be deemed necessary.
Requirements:
EDUCATION AND/OR EXPERIENCE
o 4 year college degree or relevant experience plus 5 years’ experience in lending, finance, community economic development or related experience. Understanding of real estate development and financing.
Compensation:
Will be discussed upon applying.
How to Apply:
Please submit your cover letter and resume to rmccullough@theinstitutenc.org.
Background:
Greater Minnesota Housing Fund (GMHF) is a 501(c)(3) non-profit financial intermediary established 1996 by The McKnight Foundation and Blandin Foundation to address affordable housing financing needs in Minnesota. To date, GMHF has conducted lending of over $350M and equity investments of over $200M. GMHF operates a $80M real estate development loan fund for affordable housing pre-development, acquisition, construction, bridge and longer-term amortizing permanent loans, tax increment bond financing, and first mortgage financing. The loan fund typically provides financing of $20M-$25M per year using this base of capital and raises $5M -$10M per year to grow the loan fund asset base. GMHF operates the Minnesota Equity Fund (MEF), a low-income housing tax credit equity financing vehicle for socially motivated investors to finance affordable housing. Minnesota Equity Fund must raise and deploy $25M-$35M in equity capital per year to address current demand. GMHF also operates the NOAH Impact Fund, a new equity investment fund capitalized with $32.5M from banks, foundations, and public agencies for the acquisition and preservation of naturally occurring affordable housing in the Twin Cities metro area. The NOAH Impact Fund provides financing of $10M -$15M per year. Based on Fund I’s success, GMHF is working to capitalize NOAH Fund II at 33.5M. GMHF is certified by the Department of Treasury as Community Development Financial Institution (CDFI), holds an Aeris Rating of “4-Stars, AA, Policy Plus”, and is a member of the Federal Home Loan Bank of Des Moines. GMHF seeks to utilize and access FHLB capital more effectively as it grows. GMHF is constantly evolving and expanding in innovative ways into new lines of community development finance, planning and technical assistance programs, and research and development activities. Greater Minnesota Housing Fund values an organizational culture built on collaboration, mutual accountability, and working creatively and in partnership and inclusion of all others in the field.
Position Summary:
The Chief Financial Officer (CFO) is responsible for all financial matters of Greater Minnesota Housing Fund. The CFO will report to and work closely with the President. In addition, the CFO will partner with the senior leadership and the board of directors to develop and implement strategies across the organization.
The CFO is responsible for maintaining the financial statements of the organization and for servicing the Loans disbursed by the organization. The CFO, with the assistance of the Director of Lending & Programs will also oversee all compliance and recognition for government (federal and state) contracts and private grants. The CFO must be able to adapt to a continually evolving environment and thrive in an autonomous and deadline-oriented workplace while managing an accounting and finance staff of three people. The CFO will play a key role in the development of new capital market structures and vehicles in coordination with the management team.
Responsibilities:
Finance
o Oversee cash flow planning and ensure availability of funds as needed.
o Oversee investment management.
o Communicate regularly with investment advisor on investment performance and cash flow needs.
o Develop an effective asset allocation and investment policy for recommendation to the CEO and the Finance Committee of the Board.
o Monitor and review investment advisor and manager performance reports for compliance with established performance benchmarks and investment policy.
o Periodically conduct investment advisor requests for proposal, lead the selection process; oversee the hiring and management the investment consultant.
o Oversee asset management function for company’s loan fund, gap loan, and equity investment portfolios.
o Oversee financing strategies and activities, as well as banking relationships.
o Participate in development activities providing company financials and acting as point of contact for financial due diligence with Funders. Review and accept covenants in funding agreements.
o Develop and utilize forward-looking, predictive models and activity-based financial analyses to provide insight into the organization’s operations and business plans.
o Coordinate the development and monitoring of budgets.
Strategic Planning and Investor Relations
o Collaborate with the Director of Capital Development and Management team to develop multi-year and annual capitalization plans that identify and quantify grants, loans (equity-equivalent debt investments (EQ2s) and program related investments (PRIs)) and other capital sources for the organization.
o Work collaboratively with the management team to develop complex capital market solutions to expand business activities of the organization and to support new business lines and initiatives.
o Engage the finance committee of the board of directors to develop short-, medium, and long-term financial plans and projections.
o Represent the company to financial partners, including financial institutions, investors, foundation executives, auditors, public officials, etc.
o Remain up to date on nonprofit audit best practices and state and federal law regarding nonprofit operations.
Accounting, Compliance and Administration
o Maintain and oversee the day-to-day financial and accounting operations of the organization, ensuring that appropriate systems are in place to maintain effective internal controls and financial procedures for the organization.
o Ensure timeliness, accuracy, and usefulness of financial and management reporting for federal and state funders, foundations, and GMHF’s board of directors; oversee the preparation and communication of monthly and annual financial statements.
o Report on overall loan portfolio and organization level compliance to funders and the Department of Treasury Community Development Financial Institutions (CDFI) Fund, including GMHF’s annual recertification as a CDFI.
o Stay informed of the latest CDFI compliance regulations. Identify and communicate potential compliance concerns, and work closely with the management team, lending team, and finance team to maintain good standing as a CDFI. Evaluate GMHF’s performance relative to CDFI peers.
o Lead and coordinate audits and proper filing of tax returns. Ensure legal and regulatory compliance regarding all financial functions.
Requirements:
This position requires ten or more years of experience working in a multi-faceted organization, with significant experience in the following areas:
o Finance, accounting, institutional investments, and business management.
o Strategic financial planning.
o Ability to manage multiple competing priorities and facilitate work among a professional team.
o Knowledge & experience in real estate development & small business finance.
o Community relations, board relations, management team, and client relations experience.
o History of managing growth, aligning operations to support strategic business priorities.
o Proven track record of problem-solving, resourcefulness and exceeding set goals.
o Planning oriented, deadline oriented, bottom-line approach to management and operations.
o Evidence of good decisions through sound analysis, life experience, and good judgment.
o Ability to think strategically, anticipate future consequences and trends, and build the organization components to address dynamic circumstances.
o Excellent oral, written skills, meeting facilitation, business negotiation skills.
o Strong belief in the values of Greater Minnesota Housing Fund, driven by vision & mission.
o Competent in latest office software, ability to learn additional core programs.
Compensation:
275K, dependent on experience
How to Apply:
To apply for this position, please email a resume to Jason Halupnick at jhalupnick@mmcmsp.com and Soraya Handy at shandy@mmcmsp.com
