Position Reports to: Managing Director, Financial Services
Location: Any of NFF’s office locations (Boston, Los Angeles, New York, Oakland, and Philadelphia); remote locations will be considered
Department: Financial Services
The COVID crisis and the uprising for racial justice have shone national light on both the urgent work required to build a more just and vibrant society for all Americans and the potential for positive action when our communities mobilize. In most cases, these efforts are spearheaded by nonprofits, community organizations, and their heroic staff who deliver essential services like affordable housing, social justice advocacy, health, youth development, and the arts. Yet these nonprofits and the communities they support operate within a flawed, inequitable funding system that controls their access to resources, impeding their ability to make a difference.
Nonprofit Finance Fund (NFF) is setting out to change that. We know that nonprofit leaders have power when they have access to capital and financial knowledge. Our strategy focuses on helping to shift that power by changing funding and financing practices so more money flows equitably and with less restriction to community-centered organizations led by and serving people of color, so they can be the drivers of their own change.
Read about our commitment to Diversity, Equity, and Inclusion here.
We are seeking a Head of Credit and Risk Management to develop and manage a set of credit policies and practices that support and facilitate establishing and maintaining high-quality portfolios across NFF financial products (primarily real estate and working capital loans) and strategies. Over the next 12 months, a major focus of this position will be working with the financing team to shift our financing policies and practices to reflect our values and support the implementation of our strategy to help community-centered organizations, particularly those led by and serving people of color, gain access to capital. A successful Head of Credit and Risk Management will help us rethink our approach to risk assessment and management by prioritizing the needs of strategically-aligned organizations, eliminating practices rooted in white supremacy, and demonstrating a willingness to be creative and flexible in decision-making. This is an opportunity for someone to lead this work at NFF and within the industry.
The Head of Credit and Risk Management will partner with staff across the organization to shape the development of new financial products and strategies as we expand our clients, investment vehicles and products, and sources of capital. Initially, this position will spend approximately 40% of the time guiding the above policy and practice shifts; 40% leading the team managing NFF’s growing portfolio; and 20% of time supporting the design and structuring of products. Currently, NFF manages $388 million of financing assets, primarily loans to nonprofit organizations throughout the nation in the education, healthcare, human service, supportive housing, and art sectors.
The Head of Credit and Risk Management supervises a team responsible for asset and portfolio management, servicing, and loan administration, and manages in-house counsel responsible for negotiating and closing transactions. This position is responsible for building a team culture aligned to NFF’s organizational goals and values and implementing internal professional development opportunities.
The preference is for the position to be located out of any of NFF’s office locations (Boston, Los Angeles, New York, Oakland, and Philadelphia); however, remote locations will be considered as well. Our teams are currently working remotely. Our offices have started to re-open and staff can opt into in-person work as desired and based on the needs of the role.
The Head of Credit and Risk Management will report to the Managing Director, Financial Services who is based in New York.
Primary Duties and Responsibilities
Credit Policies and Practices
Portfolio and Asset Management
Essential Requirements for Education and/or Experience:
At NFF, we are invested in discussing the depth and breadth of each candidate’s background and experience during the interview process and using that information to determine the best offer. The salary range for this position begins at $130,000. NFF also provides an attractive benefits package that includes health insurance, retirement plan, paid time off, standard holidays, and commuter benefits.
All salaries are commensurate with experience and include an attractive benefits package.
Nonprofit Finance Fund is committed to diversity, equity, and inclusion in its workforce. We encourage candidates that will help us live out this commitment to apply.
NFF is an equal opportunity employer and does not discriminate against any applicant or employee because of race, color, religion, sex, national origin, disability, genetic information, age, or military or veteran status in accordance with federal law. In addition, NFF complies with applicable state and local laws governing non-discrimination in employment in every jurisdiction in which it maintains facilities. NFF also provides reasonable accommodation to qualified individuals with disabilities in accordance with applicable laws.
This job posting provides a general list of the essential responsibilities and qualifications required for this position. It does not represent a contract for employment and NFF reserves the right to change the description and/or posting at any time without notice.
When applying, please DO NOT include any of the following information with your job application: Social Security number; driver's license number or state-issued identification card number; financial account number, or credit or debit card number.