Sr. Lending Operations Manager

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 senior lending operations manager 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. Each day, you will collaborate with entrepreneurs and business owners to ensure the efficient and equitable management of the lending portfolio. Working closely with your team, you will identify solutions to bolster relationships with entrepreneurs and enhance lending programming consistent with the organization’s mission. You are great at building relationships one-on-one, advocating for others, 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

Core Job Responsibilities 

1. Lending Operations Management
   • You will provide strategic management and leadership of the loan portfolio and corresponding client relationships in pursuit of ProsperUs Detroit’s mission; ensure that the team services loans, collects payments, manages risk, and meets technical assistance needs in a manner that is focused on relationships, rooted in client success, aligned with community priorities, and financially sustainable;
   • You will maintain and ensure the accuracy of loan portfolio balances, individual loan accounts, and loan payment processing; support the development of loan fund financial projections;
   • You will ensure we meet our growing reporting and compliance obligations, including with government agencies such as the CDFI Fund, SBA, MEDC, and other county, city, state, and federal agencies;
   • You will provide oversight and management of the portfolio manager and any other future portfolio staff by managing recruitment, training, coaching, and accountability;
   • You will be accountable for data and metrics related to ProsperUs’ lending programming for internal use, sharing with the board of directors, completing grant reporting functions, and ensuring borrowing reporting and compliance is implemented regularly and in a timely manner;
   • You will focus on process improvement, efficiency, standardization, and automation within the portfolio management processes, with the goal of increasing portfolio sustainability as well as business success for historically excluded borrowers;
   • You will lead the consistent review and iteration to policies and procedures related to loan approval, closing, servicing, collection, risk rating, and other portfolio requirements;
   • You are a thought partner and enthusiastic about deepening the sustainability of lending products and services at ProsperUs; and
   • You will contribute to the creation of concepts, proposal and application narratives, metrics, and budgets related to opportunities for new or renewed funding and/or partnership with stakeholders related to lending.
2. Relationship Management
   • You will cultivate strong relationships with business owners, entrepreneurs, and community stakeholders in the neighborhoods ProsperUs serves, especially with the networks of residents associated with the organization’s community partners;
   • You will identify and refer entrepreneurs to other resources and services necessary to achieve their goal(s) related to business growth;
   • You will support building relationships with key community partners related to access to capital, relationship-based lending, and resources on an ongoing basis;
   • You will support the development of lending program plans and goal setting, also providing solutions-oriented recommendations and/or reports to leadership; and
   • In collaboration with the Lending Team, we will identify and support opportunities to grow ProsperUs lending services in alignment with the strategic direction of the organization.
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

Knowledge, Skills, and Abilities 

While demonstrating high energy and passion for ProsperUs’ work, including our clients, partners, mission, and values, you are also able to do or know the following:

1. You have knowledge, experience, and credibility within neighborhoods and communities like those that ProsperUs serves. You are familiar with community-based organizations (CBOs), community development financial institutions (CDFIs), and nonprofits in Detroit and the region.
2. You understand relationship-based lending services, products, and best practices and can see their benefit for entrepreneurship and business development ecosystems.
3. You excel at working with technology systems and you can learn and use new software and tools as required. Experience with DownHome Solutions and Salesforce is a plus, and training will be provided.
4. You have a personal and professional commitment to intersectional equity, including the dismantling of racism and other forms of oppression that exist in the communities ProsperUs serves, specifically Black, Latinx, Arab, immigrant, and low- to moderate-income communities.
5. You have a proven history of transparent and high-integrity servant leadership.
6. You can manage timelines and understand how to communicate your needs to others including team members, partners, and other stakeholders.
7. You want to find a solution. You can demonstrate proactive, entrepreneurial approaches to problem-solving with strong decision-making capability.
8. You are self-motivated and able to work independently, but you also have practice working with internal or external teams and appreciate collaboration.
9. You must be excited about finding solutions to challenges or barriers faced by those we serve.

Minimum Qualifications

ProsperUs is looking for candidates who have the following qualities and experiences:

• Experience and/or knowledge of business financials, banking principles, and accessing capital. An emphasis on entrepreneurship and economic development is a plus.
• At least four years of proven experience with skills in portfolio / asset management, commercial lending, loan servicing, compliance, or reporting for businesses. Ideally, an emphasis on understanding businesses and entrepreneurs who encounter challenges related to systemic and institutional inequity. Bachelor’s degree in a related field preferred.
• Prior work-related experience and knowledge of community development lending, federal and/or state-sponsored lending programs such as the CDFI Fund, Small Business Administration (SBA) Microloan, and 7A loans, as well as traditional and alternative loan programs preferred.
• Strong technical skills with Microsoft Office Suite (Outlook, Word, Excel, and PowerPoint) and Adobe Acrobat (or comparable tools), operating systems, and networks.
• Flexibility in days and hours available for scheduled work, including regular evening engagements and occasional weekend commitments.
• Strong written and verbal communication skills in English. The ability to communicate in Spanish, Arabic, French, or Bangla is a plus.

Compensation and Benefits

Pay and Benefits 

The salary range for this position is $65,000 to $75,000; 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 the 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/srZ5Ob7FdM/Sr-Lending-Operations-Manager