New Jersey Community Capital (NJCC) is a mission-driven nonprofit lender with a mission of transforming at-risk communities through strategic investments of capital and knowledge. Founded in 1987, this New Brunswick-based community development loan fund has $190 million in capital under management. It is the only certified Community Development Financial Institution (CDFI) in New Jersey that serves at-risk neighborhoods throughout the state.
This 26-person organization currently offers the opportunity for a highly-qualified, experienced, and socially-motivated individual to become its Chief Financial Officer and assume a leadership position on its Senior Management team.
The individual must possess the ability to think creatively about how NJCC can best structure innovative financial products designed to help at-risk communities, as well as how to leverage investments, grants, and fees to grow the organization’s capacity and scale. This individual must also be able to work in a collaborative fashion with the President, Board, and other members of the Senior Staff; oversee, protect, and strengthen the organization’s financial health; lead a 4-person Fiscal and Risk Management Department; and exhibit an enthusiastic commitment to the organization’s mission.
The Chief Financial Officer is a key member of the Senior Staff and reports to the President and COO. Besides providing strategic guidance and advice on how to best negotiate and structure financial deals and products, the ideal candidate would be comfortable managing NJCC’s fiscal matters, including overseeing a department which is responsible for the annual audit and budget; capital management; cash management and liquidity; and financial and regulatory reports.
Specific responsibilities include:
- Design and implement innovative financial products that better meet the needs of the state’s low-income and at-risk communities
- Represent the organization at meetings with potential investors and community partners
- Assist the COO and President with implementation of the strategic plan, mission, and values
- Maintain financial operating policies and compliance with investor/grantor covenants
- Ensure compliance with NJCC’s investment policies
- Effectively manage and utilize the Board’s Audit and Finance committees
- Provide support to all other NJCC departments on fiscal and reporting requirements
- Oversee the Fiscal and Risk Management Department, managing a team responsible for:
- Maintaining the organization’s accounts, including all nonprofit and for-profit subsidiaries and loan funds
- Monitoring available cash/resources to support operations and disbursements
- Preparing monthly financial reports for the Board and external partners
- Finalizing year-end audit and tax filings for NJCC, its subsidiaries, and affiliates
- Creating the organization’s budget—and monitoring and correcting all variances
- Guaranteeing the smooth operation of all payroll and invoice functions
- Reporting to all relevant government entities and investors
- Ensuring the safekeeping of all NJCC assets
The individual must demonstrate a strong finance and accounting background, excellent management skills, and a desire to create positive social impact. She or he must be able to provide evidence of being able to thrive in an entrepreneurial, team-oriented, mission-driven environment. The individual should have a minimum of 5 years of management and finance experience. Being certified as a CPA would be considered a bonus.
Compensation and benefits are competitive, in keeping with the organization’s recently-approved Strategic Plan that emphasizes the recruitment and retention of outstanding individuals committed to NJCC’s mission. NJCC’s headquarters is located at 108 Church St., New Brunswick, in a recently-renovated office only two blocks from the train station.
Interested individuals should email a thoughtful cover letter, resume, and brief writing sample to firstname.lastname@example.org. Applications will be reviewed on a rolling basis until the position is filled.
About New Jersey Community Capital
NJCC invests in affordable housing, community facilities, and economic development ventures that strengthen neighborhoods, improve education, and increase jobs, in order to provide access to capital and greater opportunities to the residents of the state’s at-risk communities. At the same time, it enables investors, financial institutions, and grantors to meet their social investment goals. Since its founding in 1987, it has made over 720 loans totaling nearly $295 million, helping to house, educate, train, and employ thousands of New Jersey residents. It is a member of NeighborWorks America. For more information, visit: http://www.newjerseycommunitycapital.org/.
In 2009, NJCC formed a subsidiary, the Community Asset Preservation Corporation (CAPC). Based in Newark, CAPC is designed to broaden and deepen NJCC’s approach to stabilizing New Jersey’s communities impacted by property abandonment and foreclosures. CAPC is a nonprofit real estate entity whose mission is to stabilize fragile neighborhoods and protect households facing foreclosure, return vacant foreclosed property to productive reuse efficiently and equitably, and increase the availability of affordable housing. CAPC acquires distressed nonperforming mortgages and real-estate-owned properties from financial institutions and returns these properties to productive reuse through direct rehabilitation; joint ventures with mission-driven organizations; or transferring clear title to local community development corporations for renovation and return to the housing market.
McCaela Daffern | Assistant Manager, Resource Development
732.640.2061 x407 | email@example.com
New Jersey Community Capital
108 Church Street, 3rd Floor
New Brunswick, NJ 08901