Nonprofit Finance Fund is hiring a
Director

Summary

Join Nonprofit Finance Fund as Director to oversee the BEACoN NJ Program, deploying $20MM in flexible loan capital and grant funding to support nonprofits in New Jersey. The Director will have primary responsibility for all aspects of Program management, including marketing, outreach, pipeline development, origination of new loans, ongoing monitoring and portfolio management of the loans, and coordinating technical assistance to program participants.

Requirements

• You have a minimum of 7-9 years of relevant and/or transferable experience in key areas including but not limited to: commercial and project-based lending, credit analysis, business development, and program management
• You have relationships and are familiar with the ecosystem of community-based nonprofits in New Jersey, particular those providing social services and affordable housing
• You have the ability to effectively use a variety of problem-solving/analytical approaches to address challenges
• You are able to coordinate complex activities and prioritize conflicting demands and deadlines
• You have excellent organizational skills and attention to detail
• You have a strong relationship-building approach and understand the importance of collaboration across teams to move the work forward
• You possess excellent verbal and written communication skills and interpersonal skills
• You are committed to continuous improvement and demonstrate a growth mindset
• You are proficient with Microsoft Office applications and loan management systems

Responsibilities

• Develop marketing materials, conduct outreach, and leverage existing and new relationships to generate interest and applications for financing from the Program
• Assess loan requests for mission/program alignment, impact, and credit quality
• Manage and prioritize new pipeline according to market need, borrower timelines, and availability of products, among other factors
• With support from VP, Financing and Chief Credit Officer, propose appropriate loan structures that balance flexibility, risk mitigation, and Program guidelines
• Issue term sheets that reflect NFF's indicative loan terms, covenants, due diligence requirements, and closing/disbursement conditions, tailored for each project as needed
• Identify and confirm the status of supplemental subsidies, tax credits, and other local and state funds needed to complete the project capital stack, as appropriate
• Conduct borrower due diligence, credit review, project underwriting, and repayment analysis; prepare credit memos and present recommendations to NFF's credit committee(s) for formal approval
• Coordinate with NFF's legal and closing staff to ensure loans are documented and disbursed according to credit approved terms; resolve any pre-closing business or credit questions that arise
• Monitor each loan from closing through payoff
• Collect and review quarterly and annual reporting from borrowers to ensure compliance with covenants and identify early signs of credit deterioration or project challenges
• Work directly with borrowers to help resolve challenges, providing assistance where appropriate and coordinating with other staff (legal, loan servicing, construction, credit, etc.) to support borrowers through life cycle of the loan
• Accountability for setting, tracking, and meeting overall Program goals
• Serve as both the internal and external point of contact and face of the Program
• Collect borrower and portfolio level data, narratives, Program impact data, etc., to support periodic reporting to investors and funders
• Provide NFF leadership with feedback on successes and challenges in the Program
• Collaborate across NFF departments to share outcomes of the Program that can be used for developing related technical assistance, advocacy, additional capital/fundraising, attracting new partners and clients, and highlighting lessons learned from the Program that may be applied in other communities
• Identify external partners who can help NFF advance this work by connecting us with new clients, community leaders, referral sources, investors, funders, government agencies, etc
• Attend community events and in-person meetings with community organizations to ensure NFF has a deep understanding and connection to community ownership opportunities and trends in NJ

Benefits

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