The Financial Services team is seeking a Loan Origination / Business Development Officer (BDO). The BDO plays a central role in the growth and expansion of NFF’s loan origination activity on the East Coast. As part of the East Coast loan origination team, this role works closely with Business Development and Underwriting staff to structure and support viable financing opportunities. The BDO works closely with the team to ensure lending opportunities are evaluated and processed in a timely and expeditious manner. Primary responsibilities include: engaging in market-facing activities to generate business opportunities; maintaining and managing a project pipeline sufficient to meet NFF’s annual lending goal; identifying, assessing, negotiating, and structuring viable financings in line with NFF’s mission; preparing memos and presenting proposals for the “greenlighting” of projects to loan committee. In addition, the BDO partners with the East Coast underwriting staff to ensure a smooth client experience and contribute to lending process improvements. This role is responsible for maintaining knowledge of key nonprofit sectors such as education, healthcare, and human services, within the region (primarily northeastern U.S) to support and inform the business development strategy. The BDO contributes to ensuring timely and effective communication and coordination across NFF’s business development, underwriting, and portfolio management teams, as well as NFF’s offices and lines of business to ensure the highest level of client engagement.
The team is considering candidates in either the New York or Philadelphia area with a preference for New York. This position will report to the Director of Business Development. The role requires a minimum of 30% travel. It is expected that 50% of the BDO’s time will be externally focused.
Primary Duties and Responsibilities:
Client Relationship and Management
- Maintain strong relationships with current and future borrowers and partners.
- Directly participate in business development activities, including early-stage client visits and conversations and attendance at external events.
- Oversee and ensure the smooth transition and support of clients through the “greenlighting”, underwriting, approval and closing processes to ongoing centralized portfolio management.
- Support Director of Business Development in monitoring prospect pipeline and work with junior staff to move loans through the loan process.
- Cultivate and maintain relationships with capital sources (banks, CDFIs, foundations, institutional investors and other capital providers and intermediaries) and stakeholders.
- Recommend and implement marketing strategies to support the delivery of NFF lending, New Markets Tax Credit (“NMTC”) and other products and services to new and existing clients and partners.
- Work closely with all business development, underwriting, closing, and portfolio management staff to assure excellent customer service.
- Provide guidance and mentoring to junior staff on deal structuring and client management.
- Provide input into the creation of and, in partnership with the Director of Business Development, lead the implementation of a tactical plan for the East Coast that will consistently generate a viable pipeline of high credit quality clients and transactions including, but not limited to, on-balance sheet lending, NMTC transactions, and off-balance sheet opportunities.
- Proactively monitor industry and regional trends and identify opportunities.
- Originate loans and NMTC transactions by identifying, assessing, negotiating, and structuring viable, creditworthy financings.
- Conduct initial assessment and analysis of financing prospects and prepare memos and present proposals for the “greenlighting” of projects to loan committee.
- Provide guidance and assistance to junior staff in the initial screening of prospects and applicants by ensuring that they meet NFF underwriting guidelines.
Essential Requirements for Education and/or Experience:
- Bachelor’s degree or equivalent experience required; Master’s degree in business, finance, public administration or related field preferred.
- A minimum of 5 years of professional experience, preferably in the financial services, consulting or nonprofit sectors and in increasingly more senior positions.
- Underwriting and credit skills sufficient to develop, structure, and negotiate new products, and perform the initial credit analysis and risk assessment of financings.
- Strong interpersonal and communication skills, both written and verbal.
- Demonstrated ability to build, manage, and deepen client relationships.
- Ability to work in teams and demonstrated interest to train and mentor junior staff.
- Ability to relate to diverse constituencies.
- An entrepreneurial work ethic, including openness to learning new skills and systems and ability to take initiative for independent learning with and quickly develop deep knowledge of a particular market or area.
- Ability to exhibit calm under pressure.
- Solutions-based mindset and approach.
- Strong time management, multi-tasking, and organizational skills, with an ability to coordinate complex activities and prioritize conflicting demands and deadlines.
- Strategic thinker with the ability to balance big-picture ideas with day-to-day work.
- Demonstrated ability to take on increased responsibility over-time.
- Ability to contribute to market research that can contribute to geographic business expansion.
- Ability and willingness to travel within the region to work with staff and meet with applicants, borrowers, and stakeholders.
Specialized Knowledge/Beneficial Skills and Experience:
- Results-oriented individual with the ability to work independently, as well as collaborate with a close-knit group.
- Management experience including hiring, training, coaching staff.
- Experience in business or commercial lending including the origination or management of a portfolio of nonprofit organizations.
- Market knowledge in the eastern region and in one or more targeted sectors including community health centers, education/charter schools, and human service providers.
- Market knowledge of key constituents including CDFIs, government agencies, investors, foundations, policy-makers and community service providers.
How To Apply:
Please submit your resume with a thoughtful cover letter stating how your background and qualifications meet the requirements of this position.
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. Diverse candidates are encouraged 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.