Nonprofit Finance Fund is hiring a
Chief Credit Officer

Summary

The job description is for a Chief Credit Officer position at Nonprofit Finance Fund (NFF). The role involves overseeing the risk management of NFF’s loan portfolios, which includes loans to nonprofit organizations for their real estate and working capital needs. The preferred location is one of NFF’s office locations: Boston, Los Angeles, New York, Oakland, or Philadelphia, but remote locations will be considered.

Requirements

• 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

Responsibilities

• 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 provide 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 execution
• 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
• 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
• Represent NFF in public forums; identify opportunities to present our work through conference panels and speaking engagements, webinars, white papers, etc
• Participate in funder and investor conversations where appropriate

Benefits

• Compensation: At NFF, we are invested in discussing the depth and breadth of each candidate’s background and experience during the interview process and using that information to determine the best offer while considering internal pay equity. The salary range for this position is $ 220,000 – $250,000. If provided an offer, NFF will determine salary compensation based on relevant skills and years of experience. NFF also takes into consideration internal equity in setting salary bands for each role
• 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