We’re Hiring: Interim Executive Director

CDFI Friendly South Bend

Interim Executive Director Job Description

About CDFI Friendly South Bend

CDFI Friendly South Bend is a startup nonprofit corporation formed to implement a strategy to substantially increase financing by community development financial institutions (CDFIs) and others in and around South Bend. CDFIs provide flexible, affordable financing for affordable housing, small businesses, nonprofits, and real estate. They work in urban, rural, and Native markets in all 50 states but generally find it difficult to serve smaller markets such as South Bend.

CFSB is now seeking to hire a part time Interim Director for the next 12 months, when we are anticipating the position will become a full time salaried position and may expand to serve Elkhart County, including the cities of Elkhart, Goshen, and Nappanee.

CDFI Friendly South Bend provides critical matchmaking services between local borrowers and a variety of lenders. Our business plan estimates that CDFI Friendly South Bend could produce more than $17 million in new financing by CDFIs in South Bend from 2020-2022.  Our business plan is based on more than one year’s work by residents, community organization leaders, financial institution executives, City officials, University of Notre Dame representatives, CDFIs currently working or interested in working in South Bend, and others participating in a collaborative CDFI Working Group. This strategy led to the formation of CDFI Friendly South Bend as an independent nonprofit corporation. The initial Board of Directors was seated in February 2020, and it has been meeting monthly ever since.

CFSB began operations weeks before the pandemic. When the crisis started, CFSB adapted to leverage its CDFI relationships to benefit the South Bend Community. In March, CDFI Friendly South Bend helped the City of South Bend create an emergency business loan program through CDFIs. In July, CFSB partnered with the City and Accion, a Chicago-based CDFI, to make $300,000 in emergency grants to 60 local businesses. CFSB now is working on transactions totaling over $10 million.

Summary

The Interim Executive Director will lead CDFI Friendly South Bend by collaborating locally and with regional and national CDFIs, banks, and other sources of capital to serve the South Bend market. The Interim Executive Director will be supported by the consultants at CDFI Friendly America, who have been working with CDFI Friendly South Bend since the inception of the planning and organizing process.  The Interim Executive Director must be a self-starter with the capacity to build on an understanding of the South Bend market and the willingness to deepen their market knowledge. This person will market the company to affordable housing and commercial real estate developers, business owners, entrepreneurs and nonprofits, and make matches with capital sources. The Interim Executive Director will also market opportunities to invest in and manage a capital enhancement fund operated by this company. The Interim Executive Director will assume responsibility in the areas of program development, management, fundraising, and public relations.

Program   

·       Represent CDFI Friendly South Bend in the local community, promoting its goals and services, and with the CDFI industry locally, regionally, and nationally, advocating and advancing local financing opportunities. 

·       Develop marketing materials to distribute to potential partners, investors, funders, and allies. 

·       Ensure a clear understanding of the mission of CDFI Friendly South Bend in the region.

·       Coordinate CDFI Friendly South Bend’s work with investors, funders, the City of South Bend, and others pursuing aligned goals. 

·       Participate in CDFI industry activities to understand CDFI priorities, to promote South Bend and to seek financial support. 

·       Negotiate and structure financing using CDFI Friendly South Bend’s defined products, present financing opportunities to CFSB’s Investment Committee and Board, close transactions, and monitor investments and portfolio performance. 

·       Together with CDFI Friendly consultants, provide strategic direction and leadership, including recommending possible additions and improvements to strategy to the Board of Directors.

·       Conduct organized and effective public relations effort in local and CDFI markets through social media, earned media, and direct communications. 

Management and Fundraising  

·       Create and implement procedures and documentation to close funding and financing as well as other contractual business relationships for CDFI Friendly South Bend.

·       Raise funds, as determined with the Board of Directors, to ensure ongoing operations and organizational sustainability, with the support of CDFI Friendly America. 

·       Report regularly to the Board and to investors on programmatic outcomes and performance. 

·       Manage relationships with funders and investors, including seeking and cultivating relationships with new and additional funders and investors, as needed. 

·       Maintain and track fundraising and financing results. 

Qualifications:

This position involves an unusual blend of financial experience, credit expertise, nonprofit management history, and local market awareness. The Interim Executive Director must have strong financial, writing, speaking, public relations, management, leadership, and planning skills. They must be able to work in both the local community with partners that bring diverse backgrounds and skills as well as in the financial marketplace of CDFIs, banks, and foundations. They should be skilled organizers able to bring together people across multiple areas of expertise and diverse cultures.

Requirements:

The Interim Executive Director must have a bachelor’s degree.  A master’s degree or comparable experience in business, management, economic or community development, banking, and/or finance is desirable. They must have at least five (5) years of work experience including management, credit, and public-facing duties such as public relations. Strong candidates will demonstrate continuous growth in responsibility in their work and regular pursuit of promising new opportunities. The Interim Executive Director will be eligible to apply for the Permanent Executive Director position once the Board authorizes that search.

Compensation

The Interim Executive Director position will be compensated on a consulting basis. We expect the daily rate to be between $640 and $800.

To Apply:

Please submit your cover letter and resume to CDFIfriendlySB@gmail.com. 

CDFI Friendly South Bend is an equal opportunity employer and offers employment opportunity without regard to race, creed, color, ethnicity, national origin, sex, sexual orientation, sexual expression, age, marital status, physical ability, pregnancy, religion, veteran status or military obligations.