Vice President of Lending, IFF
Background
As the result of promotion of the incumbent and reorganization driven by an ambitious new strategic plan, IFF is seeking a Vice President of Lending. The VP Lending will be a member of IFF’s eight-person management team and lead the planned doubling of the loan portfolio through significant regional expansion over the next five years.
The Organization
IFF is a regional, nonprofit Community Development Financial Institution serving Illinois, Indiana, Iowa, Missouri, and Wisconsin. IFF finances real estate for nonprofit corporations located in or serving low-income communities and also provides real estate consulting and development services for nonprofits. Founded in 1988, IFF has assets of more than $128 million, a staff of 38 and offices in Chicago, Peoria and St. Louis.
Program Overview
The loan department:
• Offers below-market lending and bond financing to nonprofits in a five-state region
• Designs and implements programs that assist its target market obtain loans and needed financial assistance
• Maintains financial planning data
• Designs and implements special financing projects to assist IFF’s target market
Responsibilities of the Position
The Vice President of Lending will lead the continued growth of the Loan Program in Illinois while developing loan business and staff in Indiana, Iowa, Missouri, and Wisconsin. IFF’s strategic plan projects origination of $39 million in loans throughout the region in 2008 and growing the portfolio to $48 million by 2012.
The Vice President Lending works closely with the Director of Business Development to promote the IFF Loan Program, acts as primary spokesperson for the program and develops and maintains relationships that position the loan program as a resource and service provider of choice to its target market.
Specific responsibilities include:
• Executive oversight of the lending program and managing of a staff of nine
• Development of marketing and sales strategies
• Product development and analysis
• Customer relations and satisfaction
• Closing and Escrow Services and loan monitoring
• Financial planning for program growth including identification of and reporting to investors and funders
• Documentation of program impact
Desired Skills and Experience
• A minimum of ten years of increasingly responsible experience in commercial or alternative lending with the demonstrated ability to execute complex lending and financing programs
• The demonstrated ability to expand lending business to new markets
• Multi-industry knowledge including community development finance, community development, human and community services, government funding, capital raising, banking and finance
• Knowledge of real estate development and finance
• The demonstrated ability to:
− Understand complex financial statements and financial indicators
− Use financial information and analysis to assist nonprofit agencies obtain financing solutions
− Understand complex legal and financial documents related to the funding and operation of the Loan Program and their relationship to the IFF as a whole.
• A minimum five years of experience in increasingly responsible management and supervisory roles, including oversight of inter-related departments
• Proven experience leading teams to achieve goals
• Demonstrated commitment, desire and ability to work in partnership with other executives, staff and functions
• Excellent written and oral communication skills; considerable experience in writing and presenting information, including financial information
• Demonstrated understanding of and commitment to the nonprofit sector through employment, volunteerism or other activities is required. Understanding of how nonprofit boards of directors function
• Travel in the Midwest region required
Education
Masters Degree in Finance, Business, Planning or a related field.
Contact
This position will be open until filled. To apply, submit a cover letter, resume and qualifications to:
John Kuhnen
Chief Administrative Officer
IFF
One North LaSalle, Suite 700
Chicago, IL 60602
Fax 312-629-0061
jkuhnen@iff.org
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