Executive Loan Officer - Philadelphia, PA, United States - NFF Board

Description

Chief Executive Officer

Preference is for the position to be in commutable distance to one of NFF's office locations which are Boston, Los Angeles, New York, Oakland, and Philadelphia.

Remote locations will be considered .

For over 40 years, Nonprofit Finance Fund has provided these nonprofits and their leaders with capital, consulting, and thought leadership.

As a community development finance institution (CDFI), we work with nonprofits, partners, and systems to build racial equity and community wealth and well-being.

Our vision is a world of equitable prosperity, where communities of color and other systematically excluded communities have the capital, community assets, knowledge, and agency to thrive.

Our team consists of a diverse group of passionate professionals who care deeply about racial equity and community wealth and well-being.

You can read more about what it's like to work here – and read a few examples of "a day in the life" for NFF staff" – on the careers page of our website .

NFF's provides loans to nonprofit organizations for their real estate and working capital needs with a commitment to ensuring communities of color and their leaders have access to and control of the funds they need to meet their goals.

Currently, NFF manages around $400 million of financing assets, primarily loans to nonprofit organizations in the education, healthcare, human service, and housing sectors.

These loan portfolios include on-balance sheet loans, loans funded with limited recourse capital from philanthropic partners, government credit enhancements and a portfolio of New Markets Tax Credit (NMTC) loans.

We are seeking a Chief Credit Officer (CCO) to oversee the risk management of NFF's loan portfolios.
The Chief Credit Officer will report to the Chief Executive Officer.

The CCO will serve as a member of the Executive Team, along with the Chief Financial Officer, Chief Operating Officer and Chief of Client Services.

The addition of the CCO role at the Executive level is critical to NFF successfully pursuing new areas and products of financing while managing organizational credit risk.

The preference is for the position to be in commutable distance to one of NFF's office locations which are Boston, Los Angeles, New York, Oakland, and Philadelphia.

Remote locations will be considered.

Our offices have re-opened, and staff can opt into in-person work as desired and based on the needs of the role.

There is potential for up to 10% travel, which will consist of client visits, local/national conferences, and travel to NFF office for staff retreats.

Foster a strong risk management culture throughout the organization by continuously promoting awareness, education, and adherence to risk management practices, balanced with NFF's strategic plan priorities, impact goals, and client-centered focus.

Loan Structuring, Underwriting, Approval, and Closing

Support the lending team in the structuring and negotiation of transactions, including balance sheet loans, NMTC financings, and any other special fund or program investments.

Review and provid e guidance to lending staff on term sheet proposals prior to issuing to clients, ensuring initial terms are aligned with NFF credit policies , loan products, and underwriting standards, and that other considerations (lending targets, concentration limits, partnership opportunities, capital availability) are taken into account where appropriate .

Work alongside lending staff to collaborate with clients and lending partners to find terms suitable for all parties ; participate in transaction negotiations directly, or indirectly by supporting and coaching lending staff.

Review draft credit memos and provide guidance and recommendations to underwriters in preparation for submission to credit committee(s).

Provide responsive and creative problem solving in real time , and engage consistently with lending team to ensure transactions move forward.

Chair NFF's Internal Credit Committee (ICC);facilitate ICC discussions of transaction risks, structuring considerations, appropriate capital and credit enhancements, approval and closing conditions; Approve loan requests per NFF credit policy delegated authority for loans up to $500,000 and changes to approved loans that do not require ICC approval.

Review and sign off on all financing commitment letters in advance of closing, outlining all relevant terms, conditions, and requirements for the borrower, and in accordance with the approved credit package.

Coordinate with NFF in-house counsel (or external counsel), underwriters, and portfolio management staff to ensure loans are closed in accordance with credit approvals, executed commitment letters, and credit policies; Credit and Portfolio Risk Management

Direct oversight and accountability for the overall quality of NFF's loan portfolio performance and asset quality as it grows in size and complexity.

Oversee timely preparation and accuracy of quarterly and annual portfolio reporting for internal and external stakeholders, including senior management, auditors, AERIS, and NFF's investors.

Direct the preparation and presentation of materials to the Program Committee of NFF's board of directors, which meets quarterly to provide board-level oversight of lending programs and portfolio quality.

oversee preparation of analysis and materials in advance of the meeting, lead discussion of trends and changes, and ensure appropriate proposals and adjustments are made to the Allowance for Loan Losses.

Oversee monitoring of portfolio, sector, and geographic trends, including: local, state, and federal policies that impact client funding and operating environment; political trends and public support of key industries (housing, charter schools, community health centers, etc.) Oversee monitoring and managing concentration risk within the portfolio with respect to sector, geography, loan type, collateral type, unsecured loans, start-up/early-stage clients, construction status, and single-borrower exposure, among others.

Provide guidance and oversight to the team regarding client-level credit policy exceptions, deviations from underwriting and portfolio management guidelines, and monitoring of watch list loans.

Oversee the management of non-performing loans, and loans that are at risk of becoming non-performing; provide regular updates to senior leadership regarding portfolio-level trends and changes to risk ratings, probability of default, expected charge-offs, and loan recovery estimates.

Process, Policies, and Systems

Oversee continuous improvement of lending policies and practices to align with the increased portfolio size and growing array of sectors, products, and project types financed by NFF's lending programs; ensure data and systems keep pace with this growth and expansion in order to provide insight into trends and shifts in the loan portfolio that will support effective risk management.

Lead periodic review and revision of internal credit policies, as well as underwriting and portfolio management guidelines, informed by business, credit risk, and impact goals, and incorporating feedback from staff, clients, and partners.

Present annual updates of the credit policies to the Program Committee for approval

In collaboration with the VP, Financing, assess internal lending and portfolio management processes and systems, including software platforms used to managed pipeline and client relationships, conduct financial analysis, construction loan management, and loan servicing, among others and propose process improvements that will increase efficiency and effectiveness.

Training, Staff Development, and Communications

Provide individual and team support to ensure Financing staff have necessary credit skills, clear expectations and goals, and feedback on performance.

Assess gaps in Financing team skills, particularly based on NFF's growth and expansion into new areas and products; propose, design, and deliver formal/structured training and informal coaching and guidance to individual staff as appropriate.

Maintain a culture of quality customer service at all points of contact with internal and external stakeholders.
The CCO will manage one staff person – Director, Credit and Risk

You have a minimum of 10-15 years (we preference applicants at the 15+ years of experience) of real estate lending or credit review experience at a CDFI, bank, or similar financial institution, including management experience overseeing a credit risk function.

You have prior experience serving at the Executive level of the organization and contributing to enterprise leadership and decision-making.

Strong aptitude for analyzing the credit strengths and weaknesses of proposals to provide financing to nonprofits in various sectors/industries, including but not limited to: Affordable housing, charter schools, community health centers, human services providers, and social enterprises.

Strong skills in analyzing business financial statements and cash flow projections, project development budgets, construction budgets, and project operating pro formas.

You have a strong relationship-building approach with the ability to center the needs of clients and communities.

you combine strategy and innovation to successfully design and implement processes, systems and policies that support the organization's overall vision and growth.

You possess strong project management skills with demonstrated success managing multiple projects and priorities.
You maintain a high level of integrity and are able to handle sensitive information in a confidential manner.
You are flexible, adaptable, and willing to pivot on short notice to meet the organization's needs.
You enjoy collaborating with team members who are working together to re-envision the Community Development Finance Industry.

NFF provides an attractive benefits package that currently includes up to 18 paid holidays, 3 floating holidays, unlimited vacation time off, health insurance with NFF funded health reimbursement account on medical plan, and employer contributions toward retirement plan.

In addition, NFF provides flexibility to work remotely and access to a "work from home" fund, and flexible spending accounts including medical, commuter, and childcare benefits.

We do not currently sponsor for immigration or work permit applications.
Nonprofit Finance Fund is committed to diversity, equity, and inclusion in its workforce. We encourage candidates that will help us live out this commitment to apply.

NFF is an equalopportunity employer and does not discriminate against any applicant or employee because of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, genetic information, age, or military or veteran status in accordance with federal law.

In addition, NFF complies with applicable state and local laws governing non-discrimination in employment in every jurisdiction in which it maintains facilities.

NFF also provides reasonable accommodation to qualified individuals with disabilities in accordance with applicable laws.

If you require assistance and/or accommodation to use our online tools to search and/or apply for jobs, please contact .

It does not represent a contract for employment and NFF reserves the right to change the description and/or posting at any time without notice.

When applying, please DO NOT include any of the following information with your job application: financial account number, or credit or debit card number.

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