Director of Credit

Background

DIRECTOR OF CREDIT

JOB DESCRIPTION

The Director of Credit will be responsible for leading all aspects of the company’s lending program.

AltCap California is a local leader in equitable lending and ally to underestimated entrepreneurs. We pair financing expertise and on-the-ground advocacy to give small business owners access to affordable, patient capital they need to start, grow, and thrive. By recognizing the entrepreneurship potential that traditional lenders may overlook, we empower entrepreneurs throughout our communities to build a more inclusive, vibrant local economy.

Summary

The Director of Credit will be responsible for leading and overseeing all aspects of the company’s lending including credit risk management and underwriting functions. This role will require a deep understanding of credit and credit analysis, risk assessment, regulatory compliance, and operational efficiency. The successful candidate will be a strategic thinker with strong leadership and analytical skills and be detail-oriented and possess strong process improvement skills. Reporting to the Market President, California, this position will play a key role in advancing AltCap California’s mission of increasing our small business and micro loan origination in traditionally underserved communities and to marginalized entrepreneurs. We are looking for highly motivated, mission-driven, hard-working, and creative thinkers who want to be part of a passionate team that cares about making capital more accessible to more small businesses and entrepreneurs underserved and overlooked by traditional financial institutions.

Responsibilities

KEY RESPONSIBILITIES

• Underwriting Oversight: Manage the underwriting process, ensuring that loans are approved in accordance with established policies and procedures.
• Team Management: Lead and mentor a team of credit analysts and underwriters, providing guidance and support to drive performance.
• Credit Risk Assessment: Evaluate creditworthiness of customers and assess the risk associated with extending credit.
• Credit Policy Development: Develop and implement credit policies, guidelines, and procedures that align with the company’s risk appetite and regulatory requirements.
• Risk Mitigation: Develop and implement strategies to mitigate credit risk, such as collateral requirements and loan covenants.
• Regulatory Compliance: Ensure adherence to all applicable credit regulations and industry best practices.
• Financial Reporting: Prepare and analyze credit-related financial reports, providing insights to senior management

Requirements

QUALIFICATIONS 

• Commitment to AltCap California’s mission of promoting economic opportunity for underserved communities and marginalized entrepreneurs.
• Proven leadership capabilities with experience managing teams and fostering a collaborative work environment.
• Strong understanding of lending practices, credit risk assessment, and community development finance.
• Excellent and proactive verbal and written communication skills.
• Minimum of 7 years of experience in credit analysis, underwriting, or risk management, preferably within a CDFI or similar financial institution.
• Curious and committed to continuous development.
• Self-starting team player.
• Bilingual proficiency in English and Spanish a plus.
• Proficient with Microsoft Office suite and Salesforce preferred.

Compensation and Benefits

• Competitive compensation.
• Generously subsidized health, dental, and vision insurance available on day one with family eligibility.
• HSA, FSA, short-term and long-term disability, and employer-paid life insurance available.
• 401(k) plan available after 6 months with 3% employer contribution.
• Generous PTO / holiday policy including eleven national holidays, day after Thanksgiving, and Christmas to New Year break and seven additional “Summer Days” off between Memorial Day and Labor Day.
• Professional development and informal nonprofit leadership education opportunities.

How to Apply

Join our dynamic team and contribute to our mission of creating positive social impact. The Director of Credit position is a full-time hybrid position, Monday – Friday, 8:30 am – 5:00 pm. To apply, please email a resume and a very short cover letter articulating why you think this job is a good fit for you to David R. Desai Ramirez, [email protected]. Applicants must be authorized to work for any employer in the U.S. We are currently unable to sponsor or take over sponsorship of an employment Visa. AltCap is an Equal Opportunity Employer. We celebrate, support, and thrive on diversity and are committed to creating an inclusive environment for all employees.