Posting date: 12/09/11
Job Opening: Director of Lending
Description of Organization: The New York City Financial Network Action Consortium (NYCfNAC) was established in 1999 to strengthen the capacity of New York City’s leading community development credit unions in order to expand their membership and products and services, and to achieve economies of scale. NYCfNAC’s four participating credit unions serve low and moderate-income communities whose residents lack access to affordable and comprehensive financial services and credit.
NYCfNAC is seeking a full-time Director of Lending to work with the credit unions to support and expand their microenterprise and small business lending to startup and established businesses in New York City. The Business Lending Program takes advantage of the credit unions certification as SBA 7A Lenders and use of the SBA Express program. Since 2003, NYCfNAC has assisted the credit unions to make 200 loans to small local businesses worth $6.4 million. In 2011, NYCfNAC launched the Your Neighborhood Credit Union campaign to promote their business lending citywide.
Position Summary: The Director of Lending manages and coordinates the Business Lending Program. S/he is the primary liaison to the credit unions and an extensive set of loan referral and technical assistance organizations. Program activities include originating, packaging and underwriting loans, assisting with loan closings, loan monitoring, and technical assistance to borrowers. The Director of Lending also develops marketing strategies and materials and conducts various outreach activities. The Director of Lending supervises NYCfNAC’s lending staff and reports directly to the Executive Director.
- Coordinate with the credit unions to develop and improve loan processes and to standardize lending criteria.
- Conduct intake on businesses and entrepreneurs who request a business loan
- Perform rigorous intake on all loan inquiries and discuss loan requirements and process with select applicants.
- Collect and review loan documents
- Perform a thorough underwriting of the loan.
- Prepare a detailed credit analysis of loans for which complete documentation has been obtained and present to the appropriate credit union Credit Committee.
- Coordinate approvals among two or more credit unions if a participation loan is involved.
- Prepare closing documents using loan documentation software and assist the credit unions to close loans, as required.
- Maintain a working relationship with the local SBA office and assist the credit unions, as necessary, to enroll loans and/or submit claims.
- Manage and maintain the Your Neighborhood Credit Union Marketing Campaign.
- Manage, maintain and update the website, including the online Business Directory.
- Promote the program through panel presentations and networking events.
- In coordination with the Executive Director, prepare grant proposals and periodic reports.
- Bachelor Degree (BA, BS), or Masters preferred
- Excellent oral and written communication skills
- Minimum three years of experience with financial analysis, preferably in a community development environment
- Capable of communicating effectively with individuals of different cultural and educational backgrounds
- Fluency in English/Spanish is required
- Proficiency in MS Office applications, particularly Excel.
How to Apply: Email resume and cover letter highlighting underwriting, marketing and community development experience, as well as salary expectations to firstname.lastname@example.org. Resumes without a cover letter will not be considered.
Salary: Commensurate with experience plus full benefit package.
NYCfNAC is an Equal Opportunity Employer.