Financial Wellness Coach

Background

ProsperUs Detroit is a community economic development initiative that supports entrepreneurs and small business development in neighborhoods throughout Detroit, Hamtramck, Highland Park, and Inkster. We are on a mission to advance economic equity in under-resourced communities by supporting entrepreneurs with opportunities and capital needed to build businesses, generational wealth, and vibrant neighborhoods. We do this by delivering radically supportive and culturally competent entrepreneurship training, financial coaching, technical assistance, and microlending. ProsperUs approaches this work with the belief that residents, small businesses, and community organizations in all neighborhoods can engage and revitalize their own communities.

Summary

As a financial wellness coach at ProsperUs Detroit, you will approach the work with an eagerness to support small businesses and entrepreneurs of color at a community development financial institution (CDFI) working in low- to moderate-income communities. You will coach entrepreneurs and business owners to take power over their personal budgets, debt, credit, savings, and household financial goals. You will collaborate with the team to identify solutions to bolster relationships with entrepreneurs and enhance financial coaching programming consistent with the organization’s mission. You are great at educating an audience, building relationships one-on-one, and communicating effectively with individuals from various backgrounds. We are excited to welcome team members who are focused on intersectional equity in the context of entrepreneurship in Detroit, Hamtramck, Highland Park, and Inkster.

Responsibilities

1.  Financial Coaching & Education Management
   • You will deliver culturally competent one-on-one financial coaching to emerging entrepreneurs and borrowers to advance entrepreneurs’ financial literacy, budgeting, credit, debt management, savings planning, and goal setting acumen;
   • You will acquire an advanced understanding of the entrepreneur’s personal financial situation to develop and manage action planning;
   • You will be responsible for facilitating entrepreneur progress toward financial goals, including following up with participants on referrals to other financial service professionals when applicable;
   • You will be accountable for maintaining files and database for all participants including the intake form, required documentation, credit report, session notes, analysis, and action plan;
   • You will develop and conduct financial literacy education classes and information sessions with program participants, borrowers, and other stakeholders;
   • You will maintain, iterate, and execute processes to ensure that ProsperUs’ approach to administering financial readiness coaching is effective;
   • You will manage the administration of the credit builder loan program, including borrower onboarding, monitoring, and follow-up to ensure compliance and success;
   • You will bolster outreach to program participants and borrowers through various communication channels and create new ways to interact with the growing ProsperUs network;
   • You will understand and implement all guidelines related to confidentiality, regulatory, and quality-control requirements; and
   • You will foster additional opportunities for connection and communication for ProsperUs program participants and borrowers to the regional entrepreneurial service network of providers and organizations.
2. Outreach & Strategic Growth
   • You will cultivate strong relationships with business owners, entrepreneurs, and community stakeholders in the neighborhoods of Detroit, Hamtramck, Highland Park, and Inkster with intentionality toward ProsperUs program participants and borrowers;
   • You will manage financial literacy and coaching initiatives by developing goals, strategic planning activities, and providing recommendations and/or reports to leadership;
   • You will support capturing data and metrics related to ProsperUs’ Financial Coaching programming for internal use, sharing with the board of directors, and completing grant reporting functions;
   • You will be a thought partner and share enthusiasm for deepening the sustainability of financial literacy and coaching at ProsperUs; and
   • You will create and implement tools to gather feedback and evaluate the effectiveness of ProsperUs’ programming and participant engagement, using data and metrics to inform ongoing improvements and innovations.
3. Some other activities you will do to support ProsperUs:

• Identify opportunities to improve programming, make strategic recommendations to leadership, and collaborate on program enhancements;
• Represent ProsperUs within the regional entrepreneurship ecosystem and in various networks locally and nationally, as required;
• Continue enhancing knowledge and expertise in equitable entrepreneurship, community economic development, and race equity;
• Assist with special projects as assigned and other tasks deemed necessary to achieve overall goals and to operate a successful program; and
• Perform other related duties as assigned.

Requirements

1. Experience and/or knowledge of personal financial coaching concepts including financial literacy, budgeting, credit, debt management, savings planning, and goal setting. An emphasis on entrepreneurship and economic development is a plus.
2. At least two years of proven coaching experience with skills in collaborating with entrepreneurs or community members, project management, and connecting with regional resources. Ideally, an emphasis of understanding businesses and entrepreneurs who encounter challenges related to systemic and institutional inequity. Bachelor’s degree in a related field encouraged.
3. Strong technical skills with Microsoft Office Suite (Outlook, Word, Excel, and PowerPoint) and Adobe Acrobat (or comparable tools), operating systems, and networks.
4. Flexibility in days and hours available for scheduled work, including regular evening engagements and occasional weekend commitments.
5. Strong written and verbal communication skills in English. The ability to communicate in Spanish, Arabic, French, or Bangla is a plus.

Compensation and Benefits

The salary range for this position is $55,000 to $65,000; in addition, we offer these supports to help you manage your mental, emotional, and physical health:

• Holidays: You will have 11 nationally recognized holidays, an additional floating holiday to be used when you choose, and more time to rest around the winter holidays.
• Paid Time Off: When you join, you will have 15 days of paid time off (PTO) that you can use 90 days after joining the team.
• Benefits Plans: You can choose to join the organization’s benefits plan with health insurance (most paid by organization), org-paid vision, and org-paid dental.
• Retirement Savings: You can invest in the org-sponsored 401(k) and ProsperUs will match a portion of your contributions.
• Parental Leave: You will have access to parental leave for giving birth, adoption, fostering, and supporting a partner who is giving birth.
• Family-Friendly: ProsperUs is a family-friendly work environment with accommodations for nursing parents, respect for childcare needs and practices, parental leave, and other supports.
• Continuous Learning: We care about your success. You will create professional development goals to collaborate on with your supervisor, and we regularly check-in about how it’s going with Quarterly Conversations focused on goals and values.
• Flexible Schedule: Team members must be available 9 AM – 3 PM Eastern Time. We participate in a variety of events and collaborations, so we encourage team members to work additional hours with a schedule that works for them.
• Flexible Work Environment: We encourage hybrid home / office work. Team members primarily work in-person, with two remote workdays allowed per week. In-person events and engagements are a regular responsibility of all roles at ProsperUs.

How to Apply

https://prosperus.applytojob.com/apply/nXFiJkYnmn/Financial-Wellness-Coach