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Associate Director, Impact Lending

Position: 
Associate Director, Impact Lending
Application Deadline: 
Friday, August 9, 2019
Organization: 
Job Description: 

 

Associate Director, Impact Lending

Reporting to the Chief Program Officer, the Associate Director will be responsible for directing and growing REDF’s young Impact Lending practice. This newly-created role will manage all aspects of REDF’s commercial lending to employment-social enterprises and mission-aligned businesses. The role is responsible for strategy and operations including: origination, underwriting, and portfolio management. REDF needs someone willing to roll up their sleeves and be a hands-on doer when needed, as well as a great people leader and collaborator. Ideal candidates are entrepreneurial and motivated to help build this new practice which is intended to contribute meaningfully to the growth of the social enterprise sector and to helping thousands of individuals facing employment barriers such as incarceration, mental health challenges, and histories of homelessness.

 

See what a job can do!

REDF is a venture philanthropy that invests exclusively in the growth and effectiveness of employment social enterprises―double bottom-line businesses helping people who otherwise are shut out of the workforce to get jobs, keep jobs, and build a better life. Since 1997, REDF has invested in 177 employment social enterprises in 26 states, employing more than 36,000 people and generating revenue of more than $720M.  In 2017 REDF launched the Impact Lending practice to add an important tool to accelerate the growth of employment social enterprises. REDF is demonstrating a model for how flexible loan terms combined with technical assistance can improve borrower performance and attract new sources of capital.

 

Essential Responsibilities

Strategy

  • Lead the development of REDF’s short and long-term commercial lending strategy rooted in quantitative and qualitative analysis of key industries, drivers of business performance, and REDF’s impact objectives.
  • Establish key financial and operational KPIs and monitor and report on performance.
  • Collaborate closely to maximize expertise of Board Committees, external stakeholders, and partners.

 

Loan Origination

  • Ensure a steady pipeline of qualified borrowers across regions and within priority lending sectors (alternative staffing, maintenance & recycling, consumer goods, and manufacturing).
  • Represent REDF’s impact lending practice at industry events to educate new audiences.
  • Identify partnership opportunities with co-lenders including CDFIs, impact investors, and philanthropic organizations to build and share pipeline.

 

Underwriting

  • Utilizing REDF’s data platforms, review and make recommendations for a standardized due diligence processes with a strong customer focus.
  • Oversee and conduct due diligence to structure new loans including: reviewing application materials and financial statements, producing robust financial models and performing scenario analyses; evaluating social impact potential and interviewing borrower leadership teams and conducting site visits, preparing credit memos, through to loan closing.
  • Perform benchmarking analyses using internal and external data to predict loan performance metrics and behaviors across industry and sector.

 

Portfolio Management

  • Utilizing REDF’s data platforms, ensure data collection from borrowers, and review and make recommendations for standardized due diligence processes with a strong customer focus.
  • With REDF Finance Department, monitor portfolio risk and implement mitigation strategies.

 

Building a Team and Developing Talent

  • Self-awareness as a leader, demonstrated ability to build rapport and gain trust and value input of diverse people across levels, functions, culture, and geography.
  • Hands-on manager, providing feedback with a growth mindset, creating opportunities for staff to increase skills while establishing clear responsibilities and accountability for performance.
  • Design workflows and procedures to optimize performance of a small team.
  • Work collaboratively and efficiently across departments.

 

Key Qualifications

  • Minimum 5 years underwriting experience with 5 years management/supervisory experience in either commercial lending, impact investing, or management consulting is required.
  • Demonstrated expertise in cash flow-based credit analysis and financial and operational due diligence of small businesses is required. Experience with priority lending sectors a plus.
  • Strong financial modeling and financial statement analysis skills; willingness to use qualitative and quantitative data to drive the decision-making process.
  • Proven ability to develop and manage excellent borrower relationships.
  • Excellent judgement, strong negotiation skills, and a track record of exceeding goals.
  • Proficiency using Salesforce as CRM system and data analytics tool for analysis and reporting
  • MBA preferred; other graduate degrees or experience demonstrating an ability to manage complex problems using quantitative and qualitative data.
  • Experience working with both for‐profit and non‐profit borrowers strongly preferred, with an ability to integrate double-bottom line metrics and provide technical assistance to borrowers.
  • Comfort with ambiguous situations, conflict, unfamiliar tasks, and learning and experimenting when facing new situations while extracting lessons learned from mistakes and failures.
  • Effective communicator with demonstrated external representation experience and situational awareness.
  • Ability to travel up to 30% of the time.
  • Commitment to REDF’s mission and vision

 

WORKING CONDITIONS:

The Rewards

  • Ability to help craft REDF’s next 20 years of impact
  • Work with passionate, dedicated people
  • Apply your passion for social change in your career
  • Operate with a high degree of autonomy in a fast-paced, dynamic environment
  • Competitive, comprehensive benefits package

 

Join Us!

Please submit your resume and cover letter via REDF’s applicant portal. A personalized cover letter is required; applications without one will not be considered.
 

REDF is an equal opportunity employer and is committed to a policy of equal treatment and opportunity in every aspect of its relations with staff members and prospective employees and will not discriminate against applicants for employment because of race, creed, color, national origin, age, disability, marital status, sex, or sexual orientation. REDF encourages employment applications from people who are representative of the culturally and ethnically diverse communities REDF serves. Pursuant to the San Francisco Fair Chance Ordinance, REDF will consider for employment qualified applicants with arrest and conviction records.