Job Title: Financial Institutions Analyst
Job Level: Vice President
Job Location: May be based outside Philadelphia, PA
CARS™ is a ratings service and investor information company that provides comprehensive financial and impact performance ratings for CDFI investments. CARS™ was launched by the Opportunity Finance Network in 2004 and will be established as an independent corporation at the end of 2011. To date, CARS™ has released almost 300 ratings opinions for CDFI loan funds that collectively management 45% of all on-balance sheet assets among the approximately 600 CDFI Fund-certified loan funds. CARS™ ratings opinions and analyses are currently used by financial institutions, foundations, and government agencies to augment their due diligence and monitoring of CDFI loan fund investments. As an independent company, CARS will be expanding into additional customized risk assessment services.
Position Summary and Essential Functions:
Analysts are responsible for analyzing and rating community development financial institution (CDFI) loan funds under the CDFI Assessment and Rating System (CARS™). CARS™ uses a comprehensive methodology to rate CDFIs in the areas of impact performance and financial strength and performance. CARS™ ratings and analyses are used by investors and donors in their CDFI investment decision-making and portfolio monitoring. CARS™ analysts are part of a team of finance professionals, both staff and external consultants, that conduct analyses, prepare annual assessments, contribute to revisions of the CARS™ methodology as needed, and participate as a voting member of the ratings committee. CARS™ analysts are among the most experienced and sought after CDFI advisors and underwriters in the field.
- Review extensive written and financial documentation on CDFIs leading to detailed issues/questions to be explored during on-site and phone interviews.
- Test and refine staff-prepared financial spreads and extensive, related tables and graphs.
- Coordinate site visit schedules and due diligence with fellow analysts and CARS™ staff.
- Communicate extensively with assigned CDFIs to explain the CARSä focus and process, schedule site visits, and manage CDFI expectations about CARSä ratings.
- Conduct due diligence during on-site and phone interviews in a thorough and respectful manner.
- Prepare professionally written, in-depth analyses about a CDFI’s impact performance and financial strength and performance using the CARSä methodology and format for both full analyses and annual reviews.
- Review, evaluate, discuss, and rate analyses and annual reviews prepared by other CARSä analysts through participation in the ratings committee.
- Participate, as requested, in discussions about revisions to the CARSä methodology, in presentations to CDFIs and investors about the purpose and use of CARSä, or in other activities to develop CARSä as a reliable, broadly used ratings service.
Education and Experience
- Bachelor’s Degree or 9 years work experience; Graduate Degree a plus.
- 3-5 years of professional experience in underwriting loans or investments to asset-based companies or nonprofit organizations, financial analysis, credit analysis required. Experience in underwriting community development financial institutions a plus.
- Consulting experience with CDFIs is a plus.
Knowledge, Skills, Abilities, Physical Requirements
- Superior analytical and organizational skills required.
- Superior written and verbal communication skills required.
- Ability to understand, create, and modify financial statements required.
- Superior interpersonal skills and ability to work well with diverse constituents is required.
- Proficient with MS Office Products/Internet. Proficiency in Excel required.
- Ability to work well independently or in team environment.
- Ability to manage multiple tasks under minimal supervision in effective and efficient manner.
- Ability to set priorities and delegate tasks effectively required.
- Knowledge of and commitment to community development preferred.
10. Some travel required (several days each month).
Salary Commensurate with Experience
EOE/ADA/Women and Minorities encouraged to apply.
To Apply: Send letter of interest, salary requirement and resume to:
Search: Financial Institutions Analyst
620 Chestnut Street
Philadelphia, PA 19106