Executive Director (National Community Reinvestment Coalition)

Position: Executive Director
Company: National Community Reinvestment Coalition CD Fund
Location: Washington, DC
Hours: Full-time
Compensation: The salary for the position is competitive, plus performance bonus, depending on experience
Posted: February 3, 2010

Company Background
The National Community Reinvestment Coalition (NCRC) is an association of more than 600 community-based organizations that promotes access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America’s working families. Members include community reinvestment organizations, community development corporations, local and state government agencies, faith-based institutions, community organizing groups, civil rights organizations, minority- and women-owned business associations, community development financial institutions, and local and social service providers from across the nation.

Description
NCRC is currently in the process of starting the National Community Reinvestment Coalition Community Development Fund, Inc., (CDFI) a new community development financial institution that will deliver loan capital to a vital and growing sector of our economy: the minority and woman-owned business. Targeted businesses will be located across the country in areas with NCRC member organizations, with emphasis on businesses based in the Washington, D.C. metropolitan region and those with a green/sustainable focus.

The Executive Director of the NCRC CDFI will be the Fund’s entrepreneurial leader, primary fundraiser, and manager. The Executive Director will report to the CDFI’s Board of Directors and the Chief Business Officer of NCRC (and, when appropriate, the President and CEO of NCRC). S/he will be responsible for developing and refining broad strategic plans and annual work plans, setting priorities for initial lending activities, and supervising the CDFI staff. The Executive Director will be the public face of NCRC and its CDFI at trainings, forums, press and media events, and conferences of peer organizations within the community development finance and business lending world. At the same time, as the leader of a start-up organization, functions and duties that eventually may be executed by additional personnel will be handled by the Executive Director.

Specific Responsibilities
1. Manage the CDFI office and staff
•Oversee the establishment of the CDFI’s new office
• Recruit, hire, and supervise a well-qualified and capable staff, including the Director of Lending and Loan Administrator
• Ensure that customer service, loan production, portfolio and fiscal management, and reporting systems are high quality and efficient
• Maintain a solid understanding of the different programmatic components that comprise the CDFI

2. Fundraising
• Develop strong relationships with current investors and cultivate relationships with potential investors to secure the capital resources and the operating support necessary to meet the CDFI’s goals
• Establish and maintain relationships with key staff at the Small Business Administration in order to best take advantage of SBA funding opportunities
• Identify and pursue grant funding opportunities on a regular basis
• Communicate with investors, grant funders, and the CDFI Board about the financial and operational health of the Fund

Specific Objectives
During the first 12 months, the Executive Director will be expected to accomplish the
following objectives:

• Establish office for the NCRC Community Development Fund, Inc. in D.C.;
• Recruit and hire key staff as needed and as resources allow;
• Achieve designation from the U.S. Department of Treasury as a federally certified CDFI;
• Increase current levels of loan production;
• Refine loan product marketing strategies and CDFI organizational strengths;
• Launch new loan products and update marketing materials and operating systems accordingly;
• Achieve positive customer responses;
• Develop strong, positive relationship with the DC Minority Business Enterprise Center as the Fund’s technical assistance delivery staff
• Cultivate strong relationships with investors and funders;
• Secure capital investments from at least 2 investors;
• Secure grant funding for operating costs;
• Keep CDFI Board members appraised of the Fund’s progress;
• Review business plan and secure board support for any proposed adjustments.

Qualifications
• Graduate degree in business, real estate development or other related field. Additional professional experience may substitute for an advanced degree;
• At least 5 years of executive-level management experience, including experience with risk management for a lending institution, experience working with government programs that assist business lending such as the SBA, and extensive experience with financing businesses;
• Demonstrated broad knowledge of and contacts within the banking and/or the community development finance field related to small business lending;
• Proven track record of raising private, public and foundation capital and operating support;
• Outstanding oral and written communication skills;
• Strong strategic planning and financial analytical skills;
• Widely recognized leadership and personnel management skills;
• Reputation for creativity and innovation in achieving goals;
• Interest in working with diverse communities and organizations;
• A collaborative personal style that works in partnership with others both internally and externally;
• Clear commitment to the success of minority and women entrepreneurs.

Compensation
The salary for the position is competitive, plus performance bonus, depending on experience.
NCRC offers a comprehensive and flexible benefits package including health insurance,
retirement and professional development.

To apply, contact Frances Murray, Director of Human Resources, at hrdept@ncrc.org. Please include a writing sample with your resume and letter of interest.