Hiring: Loan & Outreach Officer – Cooperative Fund of New England

Cooperative Fund of New England

The Cooperative Fund of New England (CFNE) is a community development loan fund that bridges socially responsible investors and cooperatives, community oriented non-profits, and worker-owned businesses in New England (and parts of New York). Since 1975 CFNE has supported co-ops by providing over $60 million in flexible financing, as well as customized technical assistance. This has created or preserved thousands of jobs and affordable housing units, without losing any investor funds.

We work for economic, social, and racial justice by advancing community based, cooperative, and democratically owned or managed enterprises with a preference to assisting cooperatives in low-income communities by:
• Providing financial products at reasonable rates
• Developing business skills
• Offering an investment opportunity that promotes socially conscious enterprise

Position Title: Loan & Outreach Officer
Location: Western Massachusetts, Eastern New York and Connecticut Service Area

Job Description
The Loan & Outreach Officer will be responsible for community outreach and client relationship development, and managing all aspects of CFNE’s lending services to a diverse portfolio of cooperatives in their service area, including evaluating the credit risk and managing due diligence and underwriting activities. This role structures, qualifies, and monitors loans, as well as provides organizations with technical assistance and financial analysis, as time allows. The Loan & Outreach Officer will support various projects largely related to marketing and portfolio development. This position requires creative partnership development to succeed, as well as a demonstrated commitment to social, economic and racial justice.

This position is currently a 35 hour per week, non-exempt position, will work remotely from a home office, and reports to the Deputy Director.

Essential Functions
• Lending Process:
o Acquire basic loan information, review application for thoroughness, and determine the need for additional information. Perform the necessary due diligence, including site visits and checking references, and verifying accuracy and completeness of information provided. Analyze loan requests in line with CFNE’s lending policy and procedure manual and standard best practices, which include character, cash flow, collateral, capitalization, and business conditions. Support organizations through all stages of the lending process from originating deals to assisting with applications, conducting financial analyses, underwriting loans, preparing documents for loan approval, and presenting proposals to loan committees.
• Client and Community Relationships:
o Maintain existing relationships and develop new relationships with clients and partners. Review monthly loan payment status of borrowers and provide technical assistance as needed for slow payers. Visit borrowers at least annually. Cultivate relationships with banks and other local financial intermediaries that may refer loans or participate in loans. Represent CFNE in public forums, facilitate community outreach efforts, and build referral networks.
• Technical Assistance (TA):
o Work with applicants and borrowers to evaluate their overall financial health, determine financing needs, verify credit-readiness, and assess project feasibility. Either provide the TA, or refer it to a third party, as circumstances allow.
▪ Pre-loan Technical Assistance: Provide pre-loan TA, either in groups or one-to-one sessions, to potential borrowers on issues related with business planning including cash flow, marketing and promotion, and business licensing.
▪ Post-loan TA: Identify need for TA and mentor clients by providing post-loan TA and training, or through TA referrals, in areas such as financial management, marketing and sound business practices.
• Marketing and Development:
o Represent CFNE at marketing events, conduct client intake, and solicit and develop new relationships with potential community partners and loan applicants. Contribute to the development of CFNE’s service offering by identifying markets and assisting in the development of financial products and strategies to serve the markets.
Other Responsibilities
• Meetings: Attend all Loan Committee meetings, and Board of Trustee meetings.
• Representation: Participate in civic and community events, funders meetings and seminars, and others as assigned by the Deputy Director.
• Projects: Contribute to team effort by working on special projects, programs, and reports as assigned by the Deputy Director.

• Other duties: These may include bookkeeping assistance, use of Portfol loan and investor database, and any other duties as assigned by the Deputy Director.

Qualifications
• Bachelor’s or Master’s degree in finance, business administration, accounting, community development, or related field, required;
• Significant post-undergraduate experience in Economic Development, Business, Public Administration, Community Organizing, or other related field. Experience could be in the form of further education, such as a Master’s degree, or relevant professional work.
• At least three-five years of experience with lending/loan processing/servicing, ideally in commercial banking or with another CDFI, preferred.
• Proficiency with Microsoft Office applications including Word, Excel and PowerPoint. Experience with Access a plus.
• Excellent written and verbal communication skills in English; Bi-lingual a plus.
• Knowledge and understanding of cooperatives and community development, as well as nonprofit management.
• Experience with small business ownership or entrepreneurship, business training/counseling, and community development preferred.
• Exceptional interpersonal relations, public speaking, and analytical skills.
• Ability to work independently, as well as collaborate with a close-knit group.
• Demonstrate flexibility, creativity, and a sincere willingness to learn.
• Ability to work with clientele of wide ranging cultural background, educational level, and socioeconomic status.
• Valid driver’s license and required use of a private and reliable automobile.

Mental and Physical Requirements
This position requires occasional typing, driving, and repetitive hand movements, and frequent answering of the phone. Specific vision abilities required by this job include far and near acuity. Performing the duties of this job will require frequent sedentary work while sitting, and walking or standing the remainder of the day. In addition, this position may require occasional organizing, presenting, and the ability to deal with stressful situations. This position will frequently require decision making. Must have the ability to read, write, analyze, implement, evaluate, and consult on all applicable business related manuals, documents, procedures, policies, projects, and materials. Must have the ability to effectively present information and respond to questions from a manager, clients, and the general public. Must have the ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule format. Must have the ability to relate to others, work with others, work independently, concentrate, and perform complex or varied tasks as needed.

The physical and mental demands described here are representative of those that must be met by an employee to successfully perform the essential function of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Compensation
The Cooperative Fund of New England offers a generous benefits package that includes vacation and sick time, SIMPLE IRA retirement savings plan and a home office reimbursement. Salary range: $55,000-$65,000, depending on experience. CFNE is an equal opportunity employer. Candidates of color are strongly encouraged to apply.
How to Apply: Please submit a resume and cover letter by email to cfne@cooperativefund.org with subject line “Loan & Outreach Officer”.

Deadline: Priority review will be given to applications received by July 15, 2019.