Managing Director of Lending-Chicago Region

Company: IFF (CDFI)

Location: Chicago, IL

Job Function: Financial Services


Background

The Organization
IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Across the Midwest we help clients from every sector, including human service agencies, health centers, schools, affordable housing developers, and healthy food grocery operators. Staff contribute extensive business experience and an unrivaled connection to the
mission of IFF to the clients we serve.

IFF is looking for candidates with a commitment to the work we do who can demonstrate their creativity, diligence, enthusiasm, growth-mindset, thoughtfulness, and passion to make meaningful change in the areas of economic and racial justice.

Equity, Diversity, and Inclusion
Partnering to create thriving communities is at the heart of everything we do.  We leverage knowledge, capital, and resources to advance equitable and transformational outcomes in under-resourced communities, guided by our commitment to be an inclusive, anti-racist and anti-oppressive institution that honors communities as asset-rich and as experts in their own stories.

Summary

Basic Job Function

Provides leadership and management of all lending staff and activities in Northern Illinois and Northwest Indiana. In conjunction with the Executive Director, Chicago Region, provides leadership for business development and sales activities in order to execute on IFF’s Market Plan for the region.  In conjunction with the Chief Lending Officer, the Managing Director is responsible for setting regional lending and program goals and supporting the sourcing, approval and closing of loans to target market borrowers. Develops and maintains visibility and relationships with nonprofits and relevant government, association networks, and other stakeholders to promote IFF.  Manages and supports lending staff in the region.

Responsibilities

Job Duties and Responsibilities:

  1. Provides leadership and management of the Northern Illinois/NW Indiana loan origination programs and staff to set and meet IFF’s lending business goals.
    1. Working with the Chicago Region Executive Director, hire, train, and support regional and sector Lenders to target, source, evaluate and approve new business opportunities.
    2. Work with Managing Director Portfolio Management and local portfolio management staff to ensure successful customer relationships and coordinated communications.
    3. Develop relationships as appropriate with significant existing and potential borrowers to develop market knowledge and promote IFF’s programs.
    4. Work with SVP-CapSol, Executive Director and lenders on programs, products and new lending initiatives to ensure effective marketplace execution and high level of customer satisfaction.
    5. Guide lenders in the prescreening, underwriting, structuring and presentation of loans to loan approval committees.
    6. Manage lending staff with regard to meeting production and professional development goals and fostering a positive and collaborative team environment.
  2. Develops new/improved lending programs and products to better serve local nonprofit needs:
    1. Develops and administers the regional lending budget and reports regional business development and lending activities to CLO
    2. Ensure new products and programs incorporate the appropriate risk criteria and capital investment parameters.
    3. Participate as a voting member of IFF’s internal credit committee and assess risks, mitigants and optimal structuring of individual loan requests.
    4. In coordination with the CLO, CCO, and Portfolio Management staff, supports the financial and risk goals of IFF’s lending and capital investment business.
    5. Collaborate with Structured Finance, Social Impact Accelerator, and RES staff to develop and execute on comprehensive solutions, initiatives or programs requiring loan capital and/or lender resources.
    6. Support Finance and Resource Development with IFF applications for new programs and funding from Treasury, foundations, investors and other funding sources.
    7. Work closely with CLO, Executive Director and Lenders to identify and explore opportunities for new initiatives or product/program enhancements.
  3. Represents IFF at conferences, seminars, presentations and other events to support overall IFF goals, programs and visibility. Work with other IFF staff to support and coordinate implementation of special IFF initiatives.
  4. Maintains required job knowledge and skills and core professional competencies. Attend and participate in required educational programs and staff meetings.
  5. Performs other duties as assigned.

Performance Measures:

  1. Achievement of department lending and program goals in region.
  2. High level of customer satisfaction with IFF products and services.
  3. Leadership in maintaining IFF’s role as a full partner to the nonprofit and community development sectors.
  4. Successful management of individual staff and overall team.
  5. Complete, accurate, timely, and thoughtful analysis for full understanding of underwriting and lending issues on loan recommendations, and portfolio and risk assessment reports.
  6. Active collaboration with Marketing and Communications staff. Increase in regional business development network.
  7. Strong collaboration with Real Estate Solutions and other IFF departments to support implementation of RES work, special initiatives or other IFF business objectives.
  8. Cultivates a culture of openness in information sharing.  Encourages open communication, cooperation, and the sharing of knowledge.
  9. Models personal accountability that promotes ownership and engagement.
  10. Builds and maintains effective working relationships with colleagues, peers and team members.
  11. Values and supports differences in others, contributing to an inclusive work environment. Demonstrates the ability and willingness to communicate effectively with people of diverse backgrounds and experiences to create a collaborative, collegial, and caring community.
  12. High level of satisfaction with both internal colleagues and external contacts.

Requirements

Position Qualifications:

Education: MBA or MA strongly preferred, preferably in business, accounting, finance, or community development. A Bachelor’s degree plus five years additional relevant experience may substitute for an advanced degree.

Previous Experience: Minimum of ten years of experience in banking, commercial banking, commercial real estate lending, or community and economic development,
required with a track record of growth and increasing responsibility. Experience in marketing financial programs required. Demonstrated competence in commercial real estate lending, cash flow and project analysis, underwriting, structuring and lending policies and procedures.   Strong knowledge of Chicago, Northern Illinois, and Northwest Indiana. Experience managing teams preferred.

Special Knowledge & Skills:

Knowledge of community development principles and real estate finance and development. Familiarity with construction and lending practices and terminology; good interpersonal skills; high level written and oral communication and presentation skills, experience in formal presentations; proficient computer software user, including spreadsheets and databases. Thorough understanding of nonprofit financial statements. Ability to think creatively about problems. Ability to work in and with all communities in the region. Ability to represent the interests of IFF and the department at all levels of government and with community and civic leadership. Network of contacts with nonprofit agencies or leaders a plus.

Additional Requirements: Occasional travel and evening and weekend work; able to inspect active construction project sites.

Compensation and Benefits

Salary and benefits are discussed in interview.

How to Apply

Application Instructions: Please visit our Careers section of our website to apply online.  Both a resume and cover letter are required.

https://theapplicantmanager.com/jobs?pos=i5221&fs=1.0em