Habitat for Humanity of Minnesota is seeking a new Vice President of Lending and Finance
To apply, please email cover letter and resume to email@example.com.
About Habitat for Humanity of Minnesota
Habitat for Humanity of Minnesota (Habitat Minnesota) is a statewide support organization for Minnesota affiliates of Habitat for Humanity International. We provide resources to the 25 Minnesota affiliates to advance their work to create and preserve affordable homeownership in partnership with working families.
Habitat Minnesota was created in 1997 initially as a financial intermediary, providing centralized distribution of capital to affiliates. Today, Habitat Minnesota offers a range of programs, including resource development, advocacy, training, and networking.
We envision a world where everyone has a safe, stable, and affordable place to live.
Habitat for Humanity brings people together to build homes, community, and hope.
Through advocacy, collaboration, and leadership, Habitat for Humanity of Minnesota advances the work of Minnesota’s Habitat for Humanity affiliates to create and preserve affordable homeownership.
For more information visit Habitat Minnesota’s website at hfhmn.org.
Fiscal Year 2020 Highlights
-289 Minnesota families served statewide
-Provided substantial pandemic response support to all affiliates, including Paycheck -Protection Program access support
-2020 Second Mortgage program launched
-$2.3 million distributed to Minnesota affiliates, totaling $93.8 million distributed since 1997
Founded in Christian principles, centered in a radical effort to create and live out a vision for our world where everyone has a safe, stable and affordable place to live, Habitat Minnesota is committed to an intersectional approach to diversity, equity, inclusion and anti-racism.
All people have a right to a safe, stable and affordable place to live and we are working towards dismantling the systemic barriers to this goal for communities who have been historically marginalized and intentionally left behind
Racial Equity: Affordable homeownership is key to eliminating racial disparities in education, health, and wealth and our system is inequitable today. We are responsible for and pursue work towards advancing racial equity in affordable homeownership.
Leadership: Habitat Minnesota is an affordable housing leader bringing about systemic change and advancing our mission, so all people have a safe, stable, and affordable home.
Growth and Resilience: Through creativity, responsiveness, and industry expertise, we adapt and pivot as our communities’ needs change and adjust. Strong networks integrate and advance learning. Strong networks are resilient.
Community: We believe our community is one of our greatest assets and we strive to deepen Habitat’s collective impact in our region by centering collaboration, connection, and strong partnerships in our work.
Environment and Opportunity
Habitat Minnesota is seen as a local leader and strong partner within the Habitat network in Minnesota. Habitat Minnesota is uniquely poised to deepen its impact and further advance a thriving network of Habitat affiliates in our region. Habitat Minnesota is driven by many influencers, including:
- Affordable housing is gaining increased public attention as a key determinant of thriving individuals, families, and communities
- Homeownership opportunity is eluding more Minnesotans at all income levels and demographics, and yet is the key to creating generational and community wealth.
- Habitat affiliates in Minnesota, like many other housing professionals, are grappling with how to increase production while facing rising costs and increasing administrative and regulatory challenges
- Growing Habitat Minnesota’s lending and financial capabilities and advancing Habitat Minnesota’s CDFI capacity is at the root of advancing affordable homeownership in our region.
With homeowners having 44x the amount of wealth than renters, and our state grappling with one of the nation’s largest racial gaps in homeownership, Habitat for Humanity of Minnesota is motivated to increase the number of affordable ownership opportunities.
This presents an exciting environment for the organization’s next Vice President of Lending and Finance. As the organization concludes a strategic planning process and begins to implement the goals of advancing equity and justice through affordable homeownership, the organization seeks a VP of Lending and Finance who can partner with the CEO, staff, and Board of Directors, to develop and expand the lending products and financial services that support affordable ownership production.
The Vice President of Lending and Finance leads Habitat for Humanity of Minnesota’s lending and finance team. This team is responsible for managing and maintaining Habitat Minnesota lending and grant programs, developing new financial products and services, and advancing Habitat affiliate production through these tools in our state. The VP leads the strategic direction and operational activities of Habitat Minnesota’s lending capacity as a Community Development Financial Institution (CDFI) and creating, planning, and implementing all aspects of the lending business operations. The VP is also responsible for financial oversight for the organization.
The Vice President reports to the CEO and the VP has two (2) direct reports:
· Loan and Grant Portfolio Director
Salary and Benefits
Habitat Minnesota offers a comprehensive benefits package that includes vacation and sick leave, 401K match, flexible work schedule, health and dental benefits, and others. The salary range for this position is $90,000 to $110,000 depending on qualifications.
- Lead, manage and ensure the successful operation of Habitat for Humanity of Minnesota’s loan fund, lending and grants programs to support the mission of Habitat in Minnesota.
- Participate in the development of the organization’s strategic plan and annual work plans.
- Partner with CEO and Development Director to create annual fundraising and revenue expectations for annual budget and planning purposes to achieve strategic goals.
- Recommend to CEO members for the Loan and Grants Committee of the Board of Directors; serve as the staff lead for the Loan and Grants Committee of the Board of Directors; coordinate and prepare all relevant materials.
- Partner with CEO to cultivate and build deep and successful relationships with Minnesota Housing Finance Agency and other critical partners in this work.
- Lead, support, and coach staff to ensure the lending and accounting customer service experience is positive, and the lending and grants programs’ objectives are successfully achieved.
- Build a strong and engaged staff team that integrates its work with all aspects of Habitat Minnesota operations.
- Develop, oversee, and analyze systems, polices, and procedures for lending and grant programs, and financial oversight.
- Supervise accounting and finance staff, ensuring accounting principles are being appropriately applied and monthly financials are accurate and provided to CEO in a timely manner.
- Provide financial leadership and oversight to the Accountant; lead the annual Audit and Tax filing process, including managing loan discounting schedules and contracted auditor relationship.
- Conduct regular financial reviews with CEO, Executive and Finance Committees of the Board of Directors.
- Research, recommend and implement the organizational systems and technology necessary to support the current CDFI lending activity and future growth.
- Develop and implement plans for increased community impact and growth of the CDFI.
- Partner with the Loan & Grants Portfolio Director to implement loan origination and portfolio administration policies and procedures.
Product & Business Development
- Lead collaboration with the Habitat Minnesota Lending & Finance team, Habitat affiliates, and external partners to identify product and service needs.
- Develop, maintain, and implement project plans outlining the objectives, resources needed, project milestones, and timeline.
- Direct and perform research needed to develop new products and services responsive to emerging needs and opportunities.
- Develop and implement new business development initiatives to drive key growth strategies, specifically to support affordable ownership development in the Habitat Minnesota service area.
Loan Fund Capitalization
- Develop multi-year and annual capitalization plans that identify and quantify grants, loans equity-equivalent debt investments (EQ2s) and program related investments (PRIs) and other capital sources for the organization.
- Lead the effort to identify and assemble resources and capital to carry out CDFI activities of the organization and to support business lines and strategic initiatives, including philanthropic grants, program related investments and other loan fund investments.
Loan Fund Deployment
- Develop and maintain active pipeline of loan prospects in alignment with available capital to ensure maximum deployment of fund resources.
- Explore the opportunity to develop new loan programs for other nonprofit affordable ownership developers and partners that can advance ownership housing in Minnesota.
- Build and maintain borrower and affiliate relationships.
- Maintain and monitor loan fund cash flow projections to ensure revenue and deployment targets are met.
- Oversee and manage the Habitat Minnesota Loans including loan underwriting and credit risk rating review, and oversee the loan closing and disbursement of funds.
- Provide customer service and technical assistance to affiliates to ensure broad and successful participation in the loan program.
- Monitor affiliate credit risk rating and appropriate level of loan loss reserves.
Asset Management & Financial Compliance
- Create and maintain systems, policies and procedures for monitoring loan asset quality and portfolio management.
- Maintain compliance with funder requirements for capital investments, covenants, and reporting.
- Maintain compliance with all applicable laws and regulations governing lending activities, including UCC filings.
- Partner with CEO and Loans & Grants Portfolio Director to manage the Wells Fargo Corporate Trust relationship including making adjustments and ensuring accounts are appropriately managed.
- Reconcile monthly Wells Fargo Trust statements and amortization schedules for each of the loan programs managed by Wells Fargo Trust, as needed.
- Work with the Loan & Grants Portfolio Director to identify adjustments as needed with regards to the Trust statements and account balances.
- Work with Wells Fargo Trust team to maintain current processes, responsibilities, and commitments, including file transfers between Habitat Minnesota and Wells Fargo Trust and monthly and quarterly fund transfers.
The Ideal Candidate
We are looking for a leader who can think strategically, while balancing operational needs and impacts to grow Habitat Minnesota’s lending and grant capacity. Experience with Community Development Financial Institutions and affordable housing lending and grant programs is preferred. The new Vice President seeks out new opportunities, is open to innovation in affordable housing lending and finance and is committed to our mission.
The ideal candidate has the following experience and qualities:
- Exemplary financial acumen with proven expertise in financial management, budgeting, and tracking results to projections with the ability to understand and analyze the implications of financial statements and projections.
- At least seven years of leadership experience with loan fund development, deployment, and portfolio management.
- Experience in managing successful strategic initiatives, partnerships and collaborations in public, non-profit and/or for-profit sectors.
- A proven ability to build lasting relationships with capital partners and funders.
- Experience with affordable housing lending and Community Development Financial Institutions.
- The ability to manage operations, supervise employees and work as an effective and proactive team player.
- Strong problem-solving, analytical, and decision-making skills, with the ability to think creatively. The ability to manage multiple projects simultaneously.
- A thorough, organized and detail-oriented approach to work. Demonstrated verbal and written communication and interpersonal skills with experience in public speaking and the ability to communicate Habitat Minnesota’s vision.
- Cultural Competence, including passion, interest, and demonstrated commitment to diversity, inclusion, and equity values.
- Commitment to building strong, collaborative, trusted relationships and partnerships with coworkers, peers, and partners.
- A degree in business, non-profit management, related field, or comparable experience is required.
To apply, please email cover letter and resume to firstname.lastname@example.org.