Job Board

WACIF: Director of Lending Position

  • 1.  WACIF: Director of Lending Position

    Posted 02-13-2020 14:32

    The Washington Area Community Investment Fund (Wacif) is seeking a Director of Lending with strong small business lending background and underwriting experience to lead our Lending Department. The Lending Director will be responsible for the leadership, development and effective implementation of our small business lending work in a way that integrates our lending strategies within Wacif's overall organizational mission and strategic growth plan, while focusing on building the underserved Washington DC Metropolitan communities. The Director of Lending is responsible for managing the following key aspects:

    • Overall loan fund management and oversight of the credit and portfolio team.
    • Maintain and/or improve a set of policy and procedures that will govern the lending operations as well as ensure the compliance of all relevant credit guidelines and regulations.
    • Perform and oversee the day-to-day lending operations to meet organizational goals.
    • Serve as a representative of the organization to cultivate and maintain collaborative working relationships with referral partners, bankers, loan committee members, and community partners.

    REPORTS TO:  Executive Director

    SUPERVISES:  Small Business Loan Officer(s), Portfolio Management Analyst

    DUTIES & RESPONSIBILITIES

    Lending Strategic Leadership

    • Serve as the thought leader and chief strategist for the development and growth of the lending program; ensuring the program is aligned with Wacif's overall mission, vision and goals, including integration with other Wacif programs.
    • Lead, inspire and manage team to achieve programmatic deployment and impact goals through sharpening our lending strategies and developing innovative new strategies that address regional needs and opportunities while balancing community benefit and long-term wealth building with risk management.
    • Review and evaluate Wacif's current lending program and take action as needed to improve efficiency, increased impact for communities and underserved people, and better alignment with Wacif's strategic plan.
    • As a member of Wacif's Management Team, participate in overall organizational planning and problem solving; with the lending team, lead annual program work planning and budgeting; monitor outcomes and impacts and as needed revise plans accordingly.
    • Research and implement new products and services to keep Wacif relevant to our entrepreneurs and community.
    • Establish and maintain a credit culture within the organization that results in strong fundamental credit practices while advancing the organization's mission and values.
    • Develop, review, and recommend policies and procedures to improve loan and credit operations.
    • Set annual lending goals and budget.

    Day-to-Day Lending

    • Oversight of the daily operations of the lending department and small business lending activities.
    • Portfolio Management:
      • Oversee Wacif's loan portfolio and assess the overall risks.
      • Monitor its overall health in a manner consistent with Wacif's values and develop and implement risk mitigation strategies.
      • Supervise portfolio by reviewing loan receivables, delinquencies, and charge-offs.
      • Oversee preparation of portfolio review reports for Loan Committee and Board of Directors;
        develop analysis and provides recommendations for adjustments to the Loan Loss Reserves.
    • Underwriting:
      • Manage the underwriting of new and existing loans to ensure timely completion of credit approval process.
      • Review underwriters' loan credit summaries and analysis and provide feedback.
      • Ability to analyze and calculate figures and amounts on complex loan transactions.
      • Ensure underwriters are producing quality loans using proper credit risk metrics.
    • Loan Reviews:
      • Conduct regular reviews of loan applications to ensure team is following credit policy and procedures.
      • Review all approved loans and loan commitments, audit all loan closing files and documents before loan is closed and disbursed.
    • Provide technical assistance to borrowers and potential borrowers and manage pipeline development.
    • Ensure lending staff is provided with updates and procedural changes.
    • Maintain lending product compliance with local, state and federal regulations.
    • Supervise all aspects of the loan fund which includes posting of payment, payoffs, draw request, and disbursing loan funds.
    • Oversee and prepare various loan reports for management, funders, and regulatory agencies (i.e. SBA, private and federal investors/grantors).
    • Manage activities of the Loan & Assets Committee of the Board of Directors.
    • Report status and achievements to the Executive Director and Board of Directors.

    Management/Relationship Development

    • Provide mentoring and coaching to support development of lending staff to increase Wacif's overall lending capacity and to carry out their respective duties to reach the goals and objectives of the department.
    • Make recommendations regarding employee's employment, performance, salary, promotions, transfers or terminations, etc.
    • Support lending team in the preparation of credit memoranda to ensure compliance with existing policy.
    • Proactively keep abreast of changes in the financial services/CDFI industry and effectively communicate these changes to staff.
    • Participate in relevant networks of community economic development and sustainable development practitioners across the state, region and country.
    • Assist in establishing and maintaining relationships with all loan-related, third-party vendors.
    • Maintain relationships with other local community development lenders and intermediaries.

    Business Development

    • Attend small business and economic development focused events to promote Wacif's lending programs and services.
    • Work with the Development & Communications (D&C) team to actively market Wacif's lending programs, plan campaigns and provide information on the lending program for external communications and marketing; provide clear internal communication organization wide regarding the lending program's role in our vision and organizational goals.
    • Collaborate with the D&C team on communications materials associated with all lending programs, including success stories, narratives, descriptive brochures, applications, fact sheets, impact data and other materials.
    • Empower and work with staff to communicate the impact of our work and share our stories.
    • With Wacif's Executive Director and D&C staff, identify and assess potential new sources of funding, earned revenue and capital; assist in the development of written proposals and reports as needed.

    Other Duties & Responsibilities

    • Provide excellent customer service to the staff while effectively serving small business' needs.
    • Represent Wacif at conferences, events, and functions when needed.
    • Performs other related duties as required.

    QUALIFICATIONS

    • Bachelor's degree in finance, business, a related field, or equivalent experience is required; Master's degree in related fields preferred.
    • 5+ years of loan underwriting experience in small business lending.
    • Knowledge in the areas of loan structuring, underwriting, portfolio management, collections, credit resolutions and regulations are required.
    • Demonstrated success in building and maintaining customer relationships.
    • Excellent knowledge of local businesses and resources
    • Experience working with database, CRM, Accounting, loan and or portfolio software system
    • A minimum of five years management experience including strong people management, commercial lending, strategic thinking & planning, forecasting and keeping policies and procedures updated while maintaining compliance knowledge.
    • Impressive leadership skills and the ability to convey clear direction and expectations.
    • Great interpersonal, supervisory, communication and organizational skills with the ability to work both as a team and independently
    • Ability to eloquently articulate Wacif's mission and programs and show passion for the mission.
    • Excellent oral, written and interpersonal communication skills; strong presentation skills.
    • Must possess good judgment and exercise diplomacy in dealing with a variety of stakeholders.
    • Positive, entrepreneurial spirit including ability to seek new and creative solutions to challenges.
    • Ability to manage multiple projects simultaneously with precision and attention to detail while continually finding ways to improve processes to produce higher quality events with more effective results.

    PREFERRED QUALIFICATIONS AND CHARACTERISTICS

    • Previous non-profit/CDFI lending experience.
    • Experience with commercial/small business lending and capital-based programs.
    • Experience as an entrepreneur or working with entrepreneurs and small business owners.
    • Experience with program evaluation.


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    JUNELL VENORD
    Human Capital Manager
    Washington Area Community Investment Fund (Wacif)
    2012 Rhode Island Avenue NE
    Washington, DC 20018
    202.529.5505 Office Ext. 218
    JVenord@wacif.org
    www.wacif.org
    Higher Logics Community Contacts (CDFI CONNECT - DO NOT DELETE)

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