CDFI Loan Program Specialist
Position Title: CDFI Loan Program Specialist
Reports to: Executive Director of CFNMD
Salary Range: $65,000 - $73,500
The Community Fund of North Miami Dade (CFNMD) is a Community Development Financial Institution (CDFI) and a mission-based lender and subsidiary of Ten North Group (formerly Opa-locka Community Development Corporation), a 40-year community-based organization engaged in the revitalization of under-resourced communities within the South Florida region.
CFNMD utilizes resources from the public and private sectors to assist directly and indirectly distressed and underserved communities. This is accomplished through lending and investing in small businesses, real estate development projects, and other commercial enterprises that are undertaken in the revitalization of neighborhoods and communities. CFNMD is also engaged in providing technical assistance to small and medium-sized businesses with limited credit and/or collateral required to obtain traditional financing, and to real estate activities that increase the supply of affordable and workforce housing and community facilities. We are seeking a candidate who would enjoy the challenge of transitioning a small CDFI fund to a more significant player in the community lending field.
The CDFI Loan Program Specialist is responsible for supporting the lending administration of the CDFI, and providing technical assistance to the small business loan applicants from application through underwriting, funding, and post-closing activities. The CDFI Loan Program Specialist will also provide overall program support within the small business and affordable housing programs. The CDFI Loan Program Specialist will be part of a dynamic Lending and Technical Assistance team, and will primarily be responsible for loan deployment and administration.
GENERAL DUTIES AND RESPONSIBILITIES:
• Package Applications for Consideration – Collect information and documentation about the borrower, guarantors, collateral and details about the business management.
▪ Coordinate underwriting: Review application documentation by verifying information and quantifying the probability of repayment. This will include a review of tax returns, financial statements, projections, business plans, credit reports, etc. Find relevant industry data to support the assessment. Ensure the loan criteria meet credit policy guidelines. Identify risks & weaknesses and provide mitigating factors. Outline the conditions of the loan approval. Coordinate underwriting with outside consultant while developing skills to become an underwriter.
▪ Obtain the Proper Approval: If required, prepare and present credit memorandums for internal approval and/or external loan committee review. Document the file to evidence proper use of authority.
▪ Facilitate Closing: Prepare a Summary of Loan Terms and guide the borrower through the pre-closing process. When all conditions are met, prepare closing documents. Properly document file after loan closes.
▪ Manage pipeline of loans in process to facilitate their progress.
▪ Manage relationships with borrowers and monitor their compliance with covenants.
▪ Portfolio Reporting: Prepare analytic reports that are accurate, complete and timely on loan portfolio performance on a monthly, quarterly and annual basis. This includes reviewing servicing vendor portfolio reports and past dues according to policies.
▪ Perform Borrower Site Visits: Visit borrowers’ places of business and document the loan file with details about the client meetings, collateral inspections, and operational soundness.
▪ Service Loans through Amortization: Respond to requests for loan modifications. When needed, assist with collection and liquidation efforts.
Technical Assistance Program
▪ Provide Technical Assistance: Provide prospective borrowers with pre-loan or post-closing support, including helping them prepare business projections or other financial information for application and gather other documentation. Work closely with TA Team to coordinate programs available, suitability, and ongoing follow-up with borrowers.
▪ Collaborate with TA team to develop relationships with community partners to establish Centers of Influence (COIs) within the service area to identify qualified potential borrowers.
Reporting and other Responsibilities
▪ Track contact interactions and outcomes with borrowers/clients as per CFNMD processes.
▪ Perform internal and grant reporting as needed.
▪ Assist in proposal development as needed.
▪ Understand, adopt, and adhere to organizational policies, procedures, and guidelines.
▪ Follow Technical Assistance Program as well as Lending and Underwriting policies and procedures. Ensure program compliance with all applicable rules and regulations.
▪ Actively participate in all CFNMD and Ten North Group initiatives and projects.
▪ Work closely with Ten North Group’s marketing department to execute marketing strategies that create exposure for CFNMD and increase brand awareness.
▪ Advocate within the Service Area: Promote CFNMD’s loan products and technical assistance resources to prospective borrowers, community organizations, banks, and government agencies.
▪ Stay updated on lending trends and industry best practices.
▪ Other duties as assigned.
• Bachelor’s degree in business or related field (ideally accounting, finance or economics).
• At least 5 years of experience in small business lending, residential and commercial lending, and nonprofit and/or government community development lending or a combination thereof, and at least 2 years of experience in prior role involving loan fund accounting and/or compliance.
• Previous experience with comprehensive loan servicing software.
• Prior credit administration experience. Working knowledge of typical processes for loan servicing, modifications, and collections & liquidation.
• Demonstrated ability to balance multiple tasks and manage competing priorities with hard deadlines.
• Working knowledge of commercial underwriting principles to include cash flow analysis, collateral assessments, consumer credit screening and key business soundness metrics.
• High proficiency in MS Office Excel, Word, PowerPoint and related products, especially Excel.
• Strong written and verbal communication skills.
• Ability to thrive in an independent work environment and seamlessly work with a team.
• Able to exercise discretion in handling confidential information.
• A genuine passion for serving the entrepreneurial community in a mission-driven, small office work environment, with flexibility and enthusiasm.
• A history of delivering superior customer service to internal and external customers. This includes being responsive, friendly and respectful of others.
• Reliable transportation and comfort traveling throughout the county to meet with clients and partners.
• Ability to manage time efficiently and effectively.
• Self-starter willing to learn and take on new challenges.
CFNMD, a subsidiary of Ten North Group (formerly OLCDC), offers a comprehensive benefits package, including Health, Dental, Vision, Life, Disability, Employee Assistance Programs, Paid Time Off, Retirement, and a Hybrid Work Model.
CFNMD, a subsidiary of Ten North Group (formerly OLCDC), is an equal-opportunity employer, and we’re proud of our ongoing efforts to foster diversity, equity, & inclusion in the workplace. Individuals seeking employment at CFNMD, a subsidiary of Ten North Group (formerly OLCDC), are considered without regard to race, color, religion, national origin, age, sex, gender, gender identity, gender expression, sexual orientation, marital status, medical condition, ancestry, physical or mental disability, military or veteran status, or any other characteristic protected by applicable.
HOW TO APPLY:
Send a cover letter and resume to firstname.lastname@example.org