Executive Director, CDFI

POSITION SUMMARY:

The Executive Director of NCRC CDF will be the Fund’s entrepreneurial leader, primary fundraiser, and manager. The Executive Director will report to NCRC CDF’s Board of Directors. They will be responsible for developing and refining broad strategic plans and annual work plans, setting priorities for initial lending activities, and supervising the Fund’s staff. The Executive Director will be the public face of NCRC CDF at trainings, forums, press and media events, and conferences of peer organizations within the community development finance and business lending world. At the same time, as the leader of a start-up organization, functions and duties that eventually may be executed by additional personnel will be handled by the Executive Director.

ESSENTIAL FUNCTIONS:

Product Development

• Develop, a business plan that attracts funds to the CDFI, both debt and equity, to be utilized in building the small business lending capacity and to its investments and loans to support single-family homeownership opportunity. Continue to build small business loan portfolio based on current loan products and in compliance with best practices in fair lending and economic opportunity building small business loans to minority-owned firms nationally.
• Collaborate with the Business Development to develop a pipeline of potential clients for lending.
• Contribute to the development of a proprietary loan origination system.

Underwriting and Loan Process Management

• Underwrite applications for both the small business products and housing development/pre-development lending.
• Present loan packages to the loan committee for review and action.
• Monitor loan performance and implement corrective procedures for problem loans.
• Ensure that loan policy and procedures are followed and updated as needed through board approval.

Compliance and Reporting

• Ensure compliance with all conditions/covenants in loan agreements, equity equivalent agreements, and other grant agreements.

• Ensure compliance with all CDFI Fund/US Treasury requirements and complete requisite reports through AMIS, both with respect to certification and any federal grants received.
• Ensure compliance with all Board and NCRC organizational requirements, policies, and practices.

Fundraising

• Develop strong relationships with current investors and cultivate relationships with potential investors to secure the capital resources and the operating support necessary to meet NCRC CDF’s goals.
• Establish and maintain relationships with key staff at federal agencies that support affordable housing and redevelopment and micro lending and CDFIs, including the CDFI Fund at the U.S. Department of the Treasury, the Federal Housing Administration, and the Small Business Administration.
• Identify and pursue grant funding opportunities on a regular basis.
• Communicate with investors, grant funders, and NCRC CDF’s Board about the financial and operational health of the Fund.

Manage Office and Staff

• Recruit, hire, and supervise a well-qualified and capable staff, including the Program Manager.
• Ensure that customer service, loan production, portfolio and fiscal management, and reporting systems are high-quality and efficient.
• Maintain a solid understanding of the different programmatic components that comprise NCRC CDF.
• Develop collaborative relationship with NCRC’s investment manager and others working with that firm to enable seamless investment strategy.

COMPETENCIES:

Knowledge: Finance- Must demonstrate knowledge in business finance, with particular emphasis on community development finance and real estate finance.

Skill: Management- Ability to provide executive-level management and, specifically, risk management for a lending institution and personnel management for staff under supervision.

Skill: Fundraising- Ability to raise funds from diverse sources, including government institutions, corporations, and foundations.

Skill: Writing- Ability to write loans, proposals, grants, budgets, strategic plans.

Behavior: Motivation- Must display motivation to 1) work collaboratively both within NCRC and externally 2) foster success for LMI entrepreneurs and LMI families.

QUALIFICATIONS:

• Graduate degree in business, real estate development or another related field. Additional professional experience may substitute for an advanced degree.
• At least 5 years of executive-level management experience, including experience with risk management for a lending institution, experience working with government programs that assist small business lending and micro lending, and extensive experience with business financing.
• Demonstrated broad knowledge of and contacts within the banking and/or the community development finance field related to housing and mortgage finance and systems that oversee the investment of NCRC’s CDF directly or indirectly with joint venture partners at the national and local levels.
• Proven track record of raising private, public and foundation capital and operating support.
• Outstanding oral and written communication skills.
• Strong strategic planning and financial analytical skills.
• Widely recognized leadership and personnel management skills.
• Reputation for creativity and innovation in achieving goals.
• Interest in working with diverse communities and organizations.
• A collaborative personal style that works in partnership with others both internally and externally.
• Clear commitment to the success of minority and women entrepreneurs.

QUALIFIED APPLICANTS MUST SUBMIT A COVER LETTER, RESUME, WRITING SAMPLE, AND SALARY EXPECTATIONS TO BE CONSIDERED. ONLY APPLICANTS SELECTED TO BE INTERVIEWED WILL BE CONTACTED.

This position offers a hybrid working environment from our offices on 15th Street in downtown Washington, DC, near The White House. Our offices are open five days a week, with Tuesday, Wednesday, and Thursday as in-office Community Days for all Washington, DC area based employees. Monday and Friday are designated remote work days where employees may choose to work remotely. For Community Days (Tuesday, Wednesday, and Thursday), all Washington, DC-based employees must be in the office on Tuesday and Thursday. Employees must be in the office on Wednesday when scheduled in-person meetings or other events occur. Wednesday should not be viewed as an additional remote workday.

Salary range: $180K-$230K, commensurate with experience

NCRC IS AN EQUAL-OPPORTUNITY EMPLOYER.

EEO/AA