Impact Lending, Loan Officer

REDF

*Location Flexible* San Francisco or Los Angeles, CA

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The REDF Impact Investing Fund (RIIF) is a 501(c)(3) debt fund that provides loan capital and technical assistance to social enterprises and businesses that employ and support people experiencing barriers to employment. RIIF is administered by REDF, a venture philanthropy organization that invests exclusively in the growth and effectiveness of double bottom-line businesses dedicated to helping people who otherwise would be shut out of the workforce, get jobs, keep jobs, and build a better life.

REDF launched its Impact Lending Practice in 2017 to accelerate the growth of the field. In 2019, RIIF was formed to provide financing for employment-focused social enterprises and businesses that employ individuals experiencing barriers such as homelessness, incarceration, addiction and mental health issues, and disconnected youth. With a current loan portfolio of over $1 million and generating hundreds of employment opportunities, RIIF is demonstrating a model for how flexible loan terms combined with technical assistance can attract new sources of capital to social enterprises.

Position Description – Impact Lending, Loan Officer

Under the supervision of the Director of Impact Lending, you will be responsible for supporting loan origination, portfolio management, and technical assistance for the Impact Lending team. You will evaluate and underwrite new loan opportunities using deep financial, programmatic and operational performance analysis and evaluation of borrower creditworthiness, business risk, and project readiness. You will support the Director of Impact Lending with portfolio management by reviewing and analyzing borrower financial and social impact reporting, and other standard portfolio management duties. You will help scope and deliver technical assistance to borrowers.

Essential Responsibilities
Loan Underwriting & Analysis

  • Underwrite loan opportunities and lead all aspects of borrower due diligence. Provide analysis support for preview memos; own full underwriting memos.
  • Spread borrower financials and provide historical analysis of borrowers’ financial strengths and weaknesses in order to assess capacity for new debt. Focus on the “why” behind the #s.
  • Perform due diligence analyses of borrower operations, programs, management, and evaluate historical and projected social impact.
  • Analyze budgets, test assumptions behind cash flow projections, produce robust financial models, create deal-specific sensitizations and scenarios, and stress test debt service capacity.
  • Perform a “global” credit and risk assessment, using both company and environmental factors. Identify potential risks/mitigants. Assess likelihood of repayment sources.
  • Conduct borrower interviews and site visits.
  • Prepare follow up due diligence questions for borrowers and, if relevant, lender partners, throughout underwriting. Incorporate responses and track additional follow up needed.
  • Compare liquidity, profitability, and credit histories of organization being evaluated with similar organizations within industry environment to determine risk relative to sector.
  • Maintain thorough and organized underwriting files for loans in process.

Portfolio Management & Advisory Services

  • Manage existing portfolio of loans, including timely and ongoing review of financial statements and other reporting, monitoring of covenant compliance and processing modification requests.
  • Proactively work with borrowers to ensure that reporting is current and maintain loan files in audit-ready condition to ensure accuracy and completeness.
  • Assist Director of Impact Lending in preparing timely and effective reporting and analyses on portfolio and individual loan performance to RIIF’s Board, Executive Team, and stakeholders.
  • Complete annual credit reviews including analyzing annual financial, operational and programmatic data, risk rating change recommendations, reviewing loans for covenant compliance, and performing site visits.
  • Scope technical assistance projects for borrowers, based on identified needs (feasibility, market analyses, business planning, etc). Deliver TA or coordinate external TA providers.

General

  • Collaborate and assist with other teams at REDF, including finance & accounting, marketing & communications, and grantmaking programs to share information and develop best practices.
  • Attend network and industry conferences and other customer relationship-enhancing activities.
  • Deliver all services with a strong customer focus.
  • Perform other projects as assigned.

Essential Qualifications

  • MBA or other advanced degree in business or finance preferred, plus 2 years lending experience in small business finance or community development finance or in lieu of advanced degree, 3-4 years of experience of lending experience.
  • Experience with underwriting, business and operational risk assessment and mitigation, and portfolio management.
  • Strong financial analysis skills: ability to spread and interpret financial statements, develop financial models, conduct cash flow analysis and develop sensitizations.
  • Demonstrated ability to prepare clear, accurate well-organized memos that effectively communicate the story behind the data and draw conclusions/ make recommendations based on analysis.
  • Comfort with ambiguous situations, being flexible, and working independently; enthusiasm for building new programs.
  • Proven ability to build relationships with potential and existing clients and business partners.
  • Desire to utilize problem-solving skills to help social enterprises overcome challenges.
  • Mature judgement, professionalism, and ability to work with minimal supervision.
  • Strong Excel & PowerPoint skills: demonstrated ability to build rigorous and “user-friendly” financial and operational models; ability to create succinct presentations and can differentiate the information to present for different audiences.
  • Demonstrated ability to establish and maintain systems for organizing work to manage multiple priorities and meet deadlines while also meeting customers’ needs.
  • Strong written and organizational skills, exceptionally detail-oriented and a self-starter.
  • Knowledge of and/or interest in Diversity, Equity and Inclusion best practices, and in applying a DEI lens to our impact lending work.
  • Occasional travel within U.S. required (10%).

Desired Qualifications

  • Experience working with both for‐profit and non‐profit borrowers, with an ability to integrate double-bottom line metrics and provide technical assistance to borrowers.
  • Experience working with small businesses and/or businesses in multiple industries.
  • Experience with job training and job creation programs employing disadvantaged people.
  • Knowledge of Community Development Financial Institution (CDFIs).
  • Formal credit training.
  • Experience with a CRM platform, preferably Salesforce.

WORKING CONDITIONS
The Rewards

  • Ability to help craft REDF’s next 20 years of impact
  • Work with passionate, dedicated people
  • Apply your passion for social change in your career
  • Operate with a high degree of autonomy in a fast-paced, dynamic environment
  • Competitive, comprehensive benefits package

Join Us!
Please submit your resume and cover letter as one document via REDF’s applicant portal.

REDF is an equal opportunity employer and is committed to a policy of equal treatment and opportunity in every aspect of its relations with staff members and prospective employees, and will not discriminate against applicants for employment because of race, creed, color, national origin, age, disability, marital status, sex, or sexual orientation. REDF encourages employment applications from people who are representative of the culturally and ethnically diverse communities REDF serves. Pursuant to the San Francisco Fair Chance Ordinance, REDF will consider for employment qualified applicants with arrest and conviction records.

Job URL: 
https://redfportal.secure.force.com/hr/fRecruit__ApplyJob?vacancyNo=VN338

Opportunity type

Full-time

Experience

Experienced (Non-manager)

Job function

  • Editorial/Writing
  • Investing/Finance
  • Project/ Program Management

Areas of impact

  • Impact Investing
  • Social Entrepreneurship