Company: Nonprofit Finance Fund
Location: Remote, Remote
Job Function: Underwriting
The COVID crisis and the uprising for racial justice have shone national light on both the urgent work required to build a more just and vibrant society for all Americans and the potential for positive action when our communities mobilize. In most cases, these efforts are spearheaded by nonprofits, community organizations, and their heroic staff who deliver essential services like affordable housing, social justice advocacy, health, youth development, and the arts. Yet these nonprofits and the communities they support operate within a flawed, inequitable funding system that controls their access to resources, impeding their ability to make a difference.
Nonprofit Finance Fund (NFF) is setting out to change that. We know that nonprofit leaders have power when they have access to capital and financial knowledge. Our strategy focuses on helping to shift that power by changing funding and financing practices so more money flows equitably and with less restriction to community-centered organizations led by and serving people of color, so they can be the drivers of their own change.
Read about our commitment to Diversity, Equity, and Inclusion here.
NFF’s Financing team provides nonprofit organizations with capital for their facilities and operational needs. We are committed to ensuring communities of color and their leaders have access to and control of the capital they need to meet their goals. We do this by partnering with organizations to ensure our financing products meet their needs now and as they evolve over time.
We are seeking three Managers to join our underwriting team. The Manager, Underwriting will play a central role in the growth and expansion of NFF’s financing business nationally. They will structure, underwrite, and close loans and New Markets Tax Credit (NMTC) transactions, working closely with other members of the Financing team to ensure NFF is deploying needed capital in ways that reflect our community-centered approach in a timely and expeditious manner. The Manager, Underwriting will partner internally to support meeting budgeted goals, contribute to process improvements, develop networks, and help ensure NFF’s financing is aligned with its mission and strategy. This role will be critical in driving projects forward from early-stage conversations through to closing while managing client and internal relationships throughout all points of the process. The position will contribute to our strategic direction of supporting community-centered nonprofits led by and serving people of color.
There is a preference for one manager to be based out of Los Angeles or Oakland and another manager to be based out of New York. We will consider remote locations. Our offices have re-opened, and staff can opt into in-person work. When safe to do so, travel is expected and could potentially account for up to 10% of the Manager’s time.
The Manager, Underwriting will report to the Vice President, Financing who is based in Philadelphia, PA.
Serve as a trusted advisor for clients
- Develop and nurture relationships with new and existing clients and support them through the financing process.
- Lead conversations with clients in a way that demonstrates empathy and garners understanding of their experiences and needs, including those who have faced barriers to equitable access of capital.
Manage loan underwriting and closing
- Conduct and prepare initial analysis of loan viability, structure and negotiate loan terms that reflect the needs of clients, and issue term sheets for partner organizations.
- Underwrite financings with varying degrees of complexity, including tax credit transactions and loans with multiple lenders, and present to credit committee(s) for approval
- Manage closings, including drafting commitment letters and reviewing closing diligence and legal documents for consistency with key business terms.
Serve as an NFF brand ambassador
- Assist in business development activities, including early-stage client visits, meetings with lending partners, and conversations and attendance at external events.
- Collaborate with the Financing team in building NFF’s brand by representing NFF externally on panels and webinars with lending partners.
- You have a minimum of five years of professional work experience in the nonprofit or financial services industry and are proficient in credit analysis and loan structuring
- You have a strong relationship-building approach with the ability to center the needs of clients and communities
- You possess strong project management skills with demonstrated success managing multiple projects
- You have strong analytical skills and can present complex analytics in an accessible manner
- You have an aptitude for problem-solving and are able to identify challenges and provide solutions
- You maintain a high level of integrity and are able to handle sensitive information in a confidential manner
- You are flexible, adaptable, and willing to pivot on short notice to meet the organization’s needs
- You are committed to continuous improvement and demonstrate a growth mindset
- You have exceptional and proactive communication (verbal and written) and interpersonal skills
- You enjoy collaborating with team members who are working together to re-envision the Community Development Finance Industry
- You embody NFF’s mission, core values and commitment to equity
Compensation and Benefits
At NFF, we are invested in discussing the depth and breadth of each candidate’s background and experience during the interview process and using that information to determine the best offer. The salary range for this role begins at $85,000. NFF also provides an attractive benefits package that includes health insurance, retirement plan, paid time off, standard holidays, and commuter benefits.
All salaries are commensurate with experience and include an attractive benefits package.
Nonprofit Finance Fund is committed to diversity, equity, and inclusion in its workforce. We encourage candidates that will help us live out this commitment to apply.
NFF is an equal opportunity employer and does not discriminate against any applicant or employee because of race, color, religion, sex, national origin, disability, genetic information, age, or military or veteran status in accordance with federal law. In addition, NFF complies with applicable state and local laws governing non-discrimination in employment in every jurisdiction in which it maintains facilities. NFF also provides reasonable accommodation to qualified individuals with disabilities in accordance with applicable laws.
This job posting provides a general list of the essential responsibilities and qualifications required for this position. It does not represent a contract for employment and NFF reserves the right to change the description and/or posting at any time without notice.
When applying, please DO NOT include any of the following information with your job application: Social Security number; driver’s license number or state-issued identification card number; financial account number, or credit or debit card number.
How to Apply
You can review the full job posting and apply directly here: https://boards.greenhouse.io/nonprofitfinancefund/jobs/4036479005#app