Director of Lending Operations

TITLE: DIRECTOR OF LENDING OPERATIONS

POSITION OVERVIEW 

Washington Area Community Investment Fund (Wacif) seeks to fill a full-time Director of Lending Operations, who is responsible for the effective operations of Wacif’s lending functions. The Director of Lending Operations manages and directs lending activities,  including all direct, indirect, and participation loans extended under Wacif’s credit products. Lending activities also include business development, loan origination, underwriting and closing.  This position will also require thought leadership as it relates to the design and implementation of new credit products and the technology available to deliver said products. The Director of Lending Operations will manage the Portfolio Manager, Loan Operations Manager, small business loan officers, and underwriters.

Our ideal candidate will have a strong knowledge of small business lending, Small Business Administration (SBA) loan programs, and excellent people management and interpersonal skills. This position ensures all lending activities operate ethically and consistent with the Wacif’s mission and values.

REPORTS TO: Chief Lending Officer

DUTIES AND RESPONSIBILITIES

Lending Operations (35%) 

  • Lead the review and updates to policies related to underwriting, portfolio management, and loan servicing.
  • Oversee projects carried out by the Lending Operations Manager aimed at creating process improvement, efficiency, standardization, and automation within the lending function with the goal of increasing loan quality and scaling production.
  • Identify opportunities to incorporate lending industry best practices.
  • Represent the lending function within internal operations meetings.
  • Continually align lending position roles and responsibilities with core lending needs as the business grows and develops.
  • Ensure lending staff have the knowledge, skills, and technical resources to efficiently carry out their roles.
  • Assisting with the prevention of and collection of troubled loans.

Small Business Lending (30%)

  • Manage and grow all direct lending activities, including SBA programs, achieve all annual lending goals, profitability targets, with minimal loan loss as set forth with Wacif’s guidelines.
  • Participate in meetings and workshops with potential and existing loan clients.
  • Manage due diligence, underwriting, structuring process, and negotiating of financing requests, in accordance with all credit policy and guidelines.
  • Presentation credit loan memorandums for approval; work with the Loan Operations team to effectively close  secure Wacif’s collateral position for funded loans.
  • Ensure compliance with all credit policy standards and assess the appropriate risk profile for each loan presented for approval.

 Leadership of Lending Department (20%)

  • Manage and develop the lending team; Provide mentoring and coaching to support the professional development of the lending staff to increase Wacif’s overall lending capacity and to carry out their respective duties to reach the goals and objectives of the department.
  • Ensure all required monthly and quarterly reports, including investor and grant reporting, are submitted accurately and timely.
  • Make recommendations for changes credit to process improvements within the lending department.
  • Participate in lending department meetings and all Loan and Asset Committee Meetings.
  • Provide leadership and support during Loan and Asset Committee Meetings for lenders presenting loan requests.

Business Development (10%) 

  • Cultivate strong relationships in the community and with aligned community partners.
  • Grow, develop, and manage a strong pipeline of potential borrowers across the D.C. metropolitan area.
  • Identify borrower and product opportunities where Wacif’s capital is most needed and achieves social return on investment goals and objectives.

Other Duties & Responsibilities (5%) 

  • Provide excellent customer service to the staff while effectively serving small business’ needs.
  • Represent Wacif at conferences, events, and functions when needed.
  • Performs other related duties as required.

QUALIFICATIONS 

  • Entrepreneurial approach to work.
  • Bachelor’s degree in accounting, business, economics, finance, or equivalent degree from an accredited institution required.
  • 8+ years of lending management experience in a small business and/or commercial lending environment.
  • 5+ years of loan underwriting experience in small business lending.
  • 6+ years of people management experience and successfully managing teams.
  • Knowledge in the areas of loan structuring, underwriting, portfolio management, collections, credit resolutions, and regulations are required.
  • Demonstrated ability to manage and support time-sensitive and complex projects while meeting deadlines and credit policy parameters.
  • Superior interpersonal skills and ability to interact with a diverse range of individuals and organizations, including but not limited to: Board of Directors, clients, community development organizations, public agencies, private developers, funders, and lenders.
  • Excellent oral, written and interpersonal communication skills; strong presentation skills.
  • Solid knowledge of basic accounting practices with an ability to understand financial statements and loan documentation.
  • Knowledge of servicing software (i.e. DownHome Solutions, Nortridge Loan System (NLS), or comparable) required and origination (i.e. Abrigo, LoanWell, or comparable) software desired.
  • Fluency with Microsoft Office Suite applications and other technology software, and strong analytical skills are required.
  • Detail–oriented individual, and ability to work independently and with a team.
  • Advanced organizational and project management skills.
  • Advanced critical thinking and problem-solving skills to manage complex information, assess problems, and develop effective solutions.
  • Self-starter with the ability to work in a small team environment, excellent attention to detail and highly motivated to take on increasing levels of responsibility.
  • Ability to make timely and well-informed decisions based on discernment even in times of complexity and ambiguity.
  • Ability to eloquently articulate Wacif’s mission and programs and show passion for the mission.
PREFERRED QUALIFICATIONS / CHARACTERISTICS
  • Hands on experience working with entrepreneurs and small business owners is a plus.
  • Experience in nonprofit, mission-based, and/or small office environment preferred.
  • Prior work-related experience and knowledge of community development lending, federal and/or state sponsored lending programs such as the CDFI Fund, Small Business Administration (SBA) Microloan and 7A loans, as well as traditional and alternative loan programs preferred.

ABOUT WASHINGTON AREA COMMUNITY INVESTMENT FUND (Wacif) 
Washington Area Community Investment Fund (Wacif) advances equity and opportunity in the Washington, D.C. area’s underserved communities by providing financial capital, business advisory services, and strategic networking support to underinvested entrepreneurs. Since its inception in 1987, Wacif has deployed more than $50 million in capital, served more than 3,500 entrepreneurs with business advisory services, and helped create or retain more than 20,000 local jobs. To learn more about Wacif’s work, visit www.wacif.org.

COMPENSATION 
Competitive salary commensurate with experience. Medical, Dental, Vision, Life & Disability coverages available. 401(k) retirement plan (employer matching contribution eligible); paid time off (increased with tenure), paid holidays and sick leave days, transportation benefits, and education assistance benefits (professional development, tuition reimbursement, and student loan repayment).

TO APPLY 
Interested candidates should email a resume/CV, thoughtful cover letter that outlines how your skills and experience meet the qualifications of the position, and salary requirements to opportunity@wacif.org with “Director of Lending Operations” in the subject line.

Wacif is an equal opportunity employer and welcomes candidates from diverse backgrounds.
Wacif provides a flexible and hybrid working environment with the opportunity to work remotely.
We thank all those who apply, but only shortlisted candidates will be contacted.
No calls please. Telephone inquiries will not be accepted.