Vice President of Fondo Adelante

Title: Vice President of Fondo Adelante

Program: Fondo Adelante (CDFI)
Reports to: MEDAs Chief Program Officer
Pay range: $135000- $165000

Location: San Francisco CA.

This is a hybrid position and candidates must be able to work at least four days per week in our San Francisco office.

Apply here: In order to apply for this role please submit a cover letter and resume to Nick Swetye () our recruiting partners at Reneris.

JOIN OUR MEDA TEAM

Mission Economic Development Agency (MEDA) is a community-based local economic development organization that for 50 years has engaged individuals and small businesses in community-building strategies. We aim to achieve economic justice for San Franciscos low and moderate-income Latino families through asset development. MEDAs work has centered on equity. We envision generations of Latino families choosing where to call home thriving economically succeeding in learning opportunities and leading policy and social change toward a more equitable society.

Fondo Adelante (Mission Community Loan Fund LLC) is MEDAs certified CDFI founded in 2015. With a team of 8 Fondo is the only 100% Spanish-speaking and 100% Latino-led CDFI in the Bay Area offering microenterprise and small business loans from $5K-$100K as well as business advocacy and technical assistance support. Since its inception Fondo Adelante has deployed over $17M in equitable and affordable financing to over 500 businesses across the Bay Area Fondo has a $4.2M outstanding portfolio with 250 active loans. Fondos Business Development Program provides business coaching high-touch technical assistance and access to grants to over 300 businesses on a yearly basis.

With this work nearing completion by late summer MEDA is ready to onboard a locally-based long-term Director / Vice President working on site at our Plaza Adelante HQ to pursue an ambitious growth trajectory for Fondo Adelante CDFI rooted in MEDAs neighborhood wrap-around family services orientation and our Latino anti-displacement mission.

Most importantly MEDAs goal is for Fondo to design capitalize and launch a multi-million dollar real estate lending fund to support MEDAs Community Real Estate affordable housing development arm and other anti-displacement real estate developers in the Mission District and San Francisco.

This is a great opportunity for a CDFI professional to have a real impact in building a promising loan fund.

YOUR CAREER OPPORTUNITY

Reporting to MEDAs Chief Program Officer (CPO) the Vice President will be responsible for the leadership management and growth of the CDFI and Business Development Program (BDP) including: loan and project origination processing and approval servicing product development technical assistance marketing and communications strategic partnerships balance sheet management fundraising and capitalization and compliance and reporting. Fundamentally the Vice President drives vision and program implementation aligning strategies products and capital to support MEDAs place-based initiatives for the Latino community in the San Francisco Bay Area. This is a unique opportunity to expand the reach and impact of a mission-driven CDFI serving underserved communities.

DUTIES & RESPONSIBILITIES

• Provide on-site leadership and collaboration at MEDAs Plaza Adelante headquarters in-office at least four out of five days per week and represent MEDA at local regional and national advocacy training and field events and conferences as needed.
• Align strategies products and delivery of services with particular attention paid to place-keeping for the Latino community in San Francisco.
• Implement MEDAs strategic plan components that involve building out the CDFIs work in numerous lines of business responsive to the various needs of the low-to-moderate income Latino community in the San Francisco Bay Area including: microenterprise and small business lending affordable housing financing and commercial real estate lending.
• Oversee new product development and management of loan application processes across numerous lines of business including creating and updating application processes underwriting guidelines portfolio risk management practices risk mitigation strategies marketing plans and loan servicing protocols. Conduct an annual review of the Loan Policy Manual and make recommendations to Fondo Adelantes Board of Managers.
• Lead Fondo Adelantes capitalization strategy through collaboration with MEDAs CEO CPO senior management and MEDAs Development team in debt capital acquisition grant writing and fundraising to grow the CDFIs balance sheet and further MEDAs overall fundraising strategy.
• Prepare the CDFIs annual operating budget develop financial forecasts and establish performance metrics to track portfolio and program outcomes.
• Lead and guide the Business Development team in delivering technical assistance through workshops one-on-one coaching and client outreach. Ensure that services are fully aligned with lending products drive strong borrower engagement and meet or exceed government contract performance metrics for participation outcomes and impact.
• Manage the CDFIs growing team of 6 by providing day-to-day support professional training and accountability for staff toward clear goals and outcomes. Foster team-building conflict resolution and professional development in a way that leads to a healthy work environment.
• Work with MEDAs Finance team to further build the CDFIs loan servicing financial covenant risk management and regulatory compliance systems and practices. Strategize with MEDAs CFO on near-term and long-term balance sheet health to maximize the CDFIs growth and responsiveness to community needs.
• Manage credit approval processes and ensure disciplined monitoring of loan portfolio performance loan loss reserves and compliance with investor/lenders covenants.
• Identify and cultivate key relationships with other community-based and national organizations to more effectively serve MEDAs low-to-moderate income Latino community.
• Lead and manage Fondo Adelante Board of Managers meetings including the development of agendas materials and regular communication with Board members. Participate in MEDA Board meetings as needed and prepare CDFI materials for bi-monthly meetings.
• Manage loan portfolio quality and performance with periodic reporting to senior management and Fondo Adelante Board.
• Collaborate with MEDAs Evaluation team to create and implement an impact evaluation strategy for the CDFI that aligns with MEDAs overall place-based impact evaluation approach.
• Serve as a member of MEDAs Senior Management Team and contribute to overall organizational efforts related to strategy planning & program implementation operations staff development and team building.
• With MEDAs CEO and Chief Program Officer (CPO) collaborate with local statewide and national leaders to drive systems change racial justice and equitable capital flow within low- and moderate-income communities of color through sharing MEDAs capital deployment and technical assistance strategies.

YOUR KEYS TO SUCCESS

• A bachelors degree in business finance public administration city/urban planning or a related field is required. A masters degree is preferred. 10 years of community development finance or banking experience can be substituted for a graduate degree.
• Proven track record in originating underwriting and managing small business and commercial real estate loans.
• Strong finance background with demonstrated ability to analyze financial statements (balance sheets income statements cash flow) prepare budget projections and track portfolio performance measures.
• In-depth knowledge of and experience with CDFI lending products and other community finance vehicles capital sources and compliance requirements.
• Strong collaborative leadership and staff management skills with an emphasis on staff empowerment project management and accountability to results.
• An entrepreneurial work ethic creativity and openness to exploring new ideas systems and financial tools.
• Experience with small business lending affordable housing finance and/or commercial real estate lending is required.
• Knowledge of the San Francisco economic environment land use policies and neighborhood planning is highly desirable.
• Knowledge of or experience with under-banked low-income and underserved populations.
• Minimum of 10 years of experience within a lending environment in a senior management position preferably within a nonprofit lender credit union or other CDFI.
• Interest in community development policy and a strong desire to delve into both the details and the bigger picture of neighborhood planning.
• Excellent written and oral communication skills.
• Ability to work on-site at least four out of five days per week at MEDAs HQ
• Commitment to MEDAs mission and place-based approach to economic and racial justice.
• Being bilingual in English and Spanish is desirable.

YOUR MEDA EXPERIENCE

Do meaningful work in an innovative workplace while being challenged for your professional growth.

Joining MEDA means having meaningful experiences that develop achievers from across the Mission neighborhood and from within our organization. We find meaning and fulfillment in our work as we see our community thrive and are driven to achieve better outcomes by challenging ourselves to innovate in our ways of working.

We offer a market-leading benefits program that reflects MEDAs values and mission. We invest in peoples lives and support our own peoples health and financial well-being.

Our core benefits include:

• Comprehensive medical vision and dental insurance for employees and their dependents 100 percent covered by MEDA
• 401(k) plan for employees
• Generous paid time off - with a minimum of 20 days for new employees
• Employee Assistance Program that offers free financial or legal counseling to employees or their families
• Other forms of voluntary benefits

Applicants must be authorized to work for ANY employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.

Required Experience:

Senior Exec