Senior Loan Officer

Background

ORGANIZATION OVERVIEW: MCCD is a consortium of community development organizations and a certified Community Development Financial Institution (CDFI) based in Minneapolis, MN. MCCD works collectively to advance racial and economic justice by leveraging and stewarding community development resources.

Summary

POSITION SUMMARY: The Senior Loan Officer (SLO) is responsible for originating and underwriting loans for small businesses, nonprofits, real estate developments, and owner-occupied commercial properties. The SLO will prepare credit memos and loan packages for presentation to the Loan Committees. Additionally, the SLO will actively market MCCD’s loan products and program to both current and aspiring entrepreneurs.

Responsibilities

Loan Structuring, Underwriting, and Approval

· Contribute to MCCD’s objectives by identifying new business opportunities and originating loans.

· Assess prospective lending opportunities to ensure they align with MCCD’s mission, target markets, and underwriting/credit criteria.

· Analyze cash flow, third-party due diligence reports, including appraisals, market assessments, zoning classifications, and environmental reports to evaluate viability and determine appropriate loan structure.

· Structure and negotiate financing proposals, preparing comprehensive loan packages for review and approval by the Loan Committees.

Program Support

· Collaborate with Business Advisors in structuring and negotiation of transactions.

· Orient new Business Advisors to MCCD’s loan policies, processes, and financial products.

· Provide guidance to Business Advisors on loan terms, products, and underwriting standards.

· Participate in transaction negotiations directly or indirectly by coaching and supporting the Business Advisors.

· Review draft credit memos prepared by Business Advisors offering guidance and recommendations to underwriters before submission to the Loan Committee.

· Engage in responsive and creative problem-solving, working closely with Business Advisors to ensure smooth progress of transactions.

Requirements

Assets of most interests include the following:

• Experience: A minimum of five (5) years in underwriting, credit analysis, or related roles in a financial institution or CDFI with significant experience in small business lending.

• Expertise: Strong understanding of underwriting principles, credit risk assessment methodologies, and regulatory requirements.

• Communication: Excellent communication and presentation skills, with the ability to clearly and engagingly convey complex concepts.

• Analytical Skills: Proven ability to vet and assess project feasibility, structure financing, and recommend favorable financing sources for the client.

• Collaboration: Demonstrated ability to work enthusiastically and effectively with diverse teams, individuals, and other CDFIs and financial institutions fostering a collaborative and inclusive environment.

• Mentorship: Strong ability to mentor and coach team members.

• Industry Knowledge: In-depth knowledge of CDFIs, consumer and small business lending, as well as community development principles.

• Commitment: A strong commitment to racial and economic equity.

• Integrity: Demonstrates ethical behavior, upholds organizational values, and takes responsibility for actions.

Compensation and Benefits

· Salary range: $75,000 – $86,000 Per Year

· Remote work available

· Dog friendly office environment

· Medical & Dental Insurance – 100% of the premium paid by MCCD for the employee; 100% of the premium paid by MCCD for the employee’s partner and/or family.

· 403(b) Plan – Eligibility starts at date of hire, MCCD will match contributions up to 5%. Employees are 100% vested at the date of hire.

· Life Insurance – MCCD provides and pays for a benefit level up to $50,000.

· Long-Term Disability & Accidental Death and Dismemberment – MCCD provides this at no cost to the employee.

· Holidays – MCCD has 11 designated paid holidays all of which are chosen by the employee.

· Paid Time Off – For the first two years of service, employees accrue 18.5 days (148 hours) annually.

· Parental Leave – Eight weeks of paid parental leave for employees who have given birth, adopted or is fostering a child. (Employee may be a spouse or committed partner who has given birth to a child)

· End of Year Respite – MCCD closes its office for the week that falls between Christmas and New Year’s Day.

· Professional Development – Annual allowance for the employee’s professional development activities.

· Wellness – MCCD provides its staff with quarterly wellness activities.

How to Apply

Please send a resume and cover letter to [email protected]. In your cover letter, please explain what motivates you to work with MCCD, and how your experience, skills and commitment will advance our work and create a more equitable economy.

NO PHONE CALLS PLEASE

MCCD IS AN EQUAL OPPORTUNITY EMPLOYER

Black, Indigenous, People of Color (BIPOC) and LGBTQIA+ individuals are strongly encouraged to apply.