Position Title: Executive Director
Reports to: CFO/Chairman of CFNMD Board of Directors
The Community Fund of North Miami Dade, Inc. (CFNMD), a Community Development Financial Institution (CDFI), a subsidiary of Opa-Locka Community Development Corporation (OLCDC), is seeking an Executive Director to manage and provide overall leadership, strategy, and stewardship of its loan fund.
CFNMD utilizes resources derived from the public and private sectors to assist directly and indirectly distressed and low wealth communities. This has been accomplished through a program of lending and investing in small businesses, real estate development projects, and other commercial enterprises that are undertaken in the revitalization of neighborhoods and communities. The CFNMD has also been engaged in providing capital and technical assistance to small to medium businesses with limited credit and/or collateral required to obtain traditional financing. We welcome a candidate who would enjoy the challenge of transitioning a small CDFI fund to becoming a more significant player in the community lending field.
OLCDC is a 40-year community-based organization engaged in comprehensive community development ventures that includes affordable multifamily rental housing, commercial real estate, and human services in advancing the revitalization of under-resourced communities within the South Florida region
CFNMD is seeking an experienced community lending leader, preferably within the Community Development Financial Institution industry, to direct and manage daily operations and execute the Loan Fund's strategic vision and growth. The Executive Director is responsible for the overall management of the Loan Fund, working directly with the Fund’s board of directors and staff to implement the vision and strategic goals of the organization related to loan growth, marketing, earned revenue, and portfolio management technical assistance, and mission fulfillment. We welcome a candidate who would enjoy the challenge of transitioning a small CDFI fund to becoming a regional player in the community lending field.
The Executive Director is responsible for managing all operational functions supporting the Fund’s small business lending, including underwriting, closing, portfolio management, and loan servicing, and working closely with the Fund’s Board of Directors.
Specific Duties and Responsibilities
- Create and implement a strategic vision for the organization through the development and implementation of a business plan and multi-year strategic objectives that support a regional focus.
- Develop, direct, and lead a team to achieve the priorities specified in the Business Plan.
- Work with financial institutions, foundations, corporations, and interested donors on creative approaches to grow the Fund and its capacity.
- Collaborates with senior leadership and OLCDC divisions/departments to develop strategies and proposals that articulate a clear, compelling, and measurable case for funding from banks, foundations, corporations, and federal/state governmental agencies.
- Maintain a strong relationship with current and potential investors and maintain a high percentage of investor renewal
- Establish clear policies governing all areas of the origination and portfolio management process.
- Oversee the development/management of credit policies for the loan business.
- Oversees the CFNMD’s budget and ensures that resources are appropriately allocated.
- Set up and administer software reporting to track the fund data, including loans and grants, to ensure compliance with governmental, financial institutions, and donor reporting requirements.
- Direct the allocation of resources on the deployment on loans.
- Develop clear key performance impact measurements for staff along with an employee performance management system
- Develop and implement a marketing strategy that will increase the number of investments into the Fund as well as its visibility within targeted communities in the region.
- Supervise, train, coach, motivate and develop fund staff, interns, and volunteers.
- Prepare analyses and reports on the loan portfolio performance, in collaboration with the servicing agent, CRF.
- Manage all servicing and collection efforts, externally and internally
- Facilitate and manage the work of the Board of Directors, Loan Committee and other committees
- Work closely with the OLCDC management team on the potential financing of real estate projects.
- Maintain knowledge of laws, regulations, and guidelines within the banking/CDFI industry to ensure compliance with regulatory agencies and organizations and best practices
- Explore opportunities for new initiatives, new income opportunities, and partnerships with OLCDC’s senior leadership.
- Bachelor’s degree in related field required (finance, accounting, or real estate preferred); Master’s in business and/or community development preferred
- Minimum of ten years of experience in small business lending affordable housing or community economic development, the majority of which should be in a senior role managing major aspects of the business.
- Experience managing a small business loan fund or related industry.
- Minimum of 3 years of project management and supervisory experience, able to supervise staff and build a strong team.
- Commercial or small business underwriting a must.
- Working knowledge of underwriting commercial loans, with familiarity with non-profit accounting
- Experience working with CDFI related programs.
- Strong network in small business lending, affordable housing, and/or community economic development field.
- Demonstrated leadership skills.
- Demonstrated ability to balance multiple tasks; work well independently; prioritize and meet specific deadlines.
- Good networking, relationship management, and customer skills.
- High proficiency in MS Office Excel, Word, and related loan underwriting and servicing software products.
- Excellent written and oral communication skills.
- Must be comfortable with working in a mission-driven, small office work environment,
- Background in real estate finance is a plus.
- Willingness to learn and take on new challenges.
For more information on CFNMD and OLCDC, visit our website OLCDC.org.
Interested candidates, please visit our website to apply. Include a cover letter summarizing work experience and interest, salary requirements, and resume.