Remote · Remote possible
Position Reports to: Vice President, Financing
Location: Preference is for the position to be in commutable distance to NFF’s New York office. Remote locations will be considered.
Department: Financing
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.
About the Opportunity:
NFF’s Financing team provides loans to nonprofit organizations for their real estate and working capital needs with a commitment to ensuring Black, Indigenous, and communities of color and their leaders have access to and control of the funds they need to meet their goals. Currently, NFF manages around $400 million of financing assets, primarily loans to nonprofit organizations in the education, healthcare, human service, and housing sectors.
Historically, NFF has lent to nonprofit developers and operators focused on supportive housing; transitional housing for youth aging out of foster care and adults returning from incarceration; emergency and shelter housing for people experiencing homelessness; and residential treatment and recuperative care facilities. We have had a limited focus on more traditional affordable housing projects. As requests for project financing have consistently grown in volume and size, NFF seeks to play a more intentional, proactive, and wider-ranging role in the affordable housing sector.
We are seeking a Director, Housing Loan Program to lead this work in formalizing and expanding NFF’s affordable housing finance program. This position will play a central role in developing appropriate capital resources, identifying tailored products, and creating specific policies and guidelines. This individual serves as a single point of contact to represent NFF’s housing work externally. Internally, this role will serve as an in-house expert that trains, supports, and coaches other staff who serve as generalists across various functional areas (e.g., business development, underwriting and closing, portfolio management) and other NFF departments. The role will collaborate with our Marketing & Communications team to raise NFF’s profile in this sector, and advocate for greater access to resources for NFF, CDFIs generally, and our clients in the housing sector.
A successful Director, Housing Loan Program will help us rethink our approach to lending by prioritizing the needs of strategically aligned organizations and developers, 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. Please review NFF's 2024-2026 Strategy here.
The preference is for the position to be in commutable distance to NFF’s New York office location. Remote locations will be considered. Our offices have re-opened, and staff can opt into in-person work as desired and based on the needs of the role. There is potential for up to 10% travel, which will consist of client visits, local/national conferences, and travel to NFF office for staff retreats.
The Director, Housing Loan Program will report to the Vice President, Financing who is based in Philadelphia.
What you’ll do:
Program Leadership
Loan Origination, Structuring, and Portfolio Management
Who you are:
Compensation:
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 while considering internal pay equity. The starting salary range for this position is $120,000-$145,000. If provided an offer, NFF will determine salary compensation based on relevant skills and years of experience. NFF also takes into consideration internal equity in setting salary bands for each role. NFF provides an attractive benefits package that currently includes up to 18 paid holidays, 3 floating holidays, unlimited vacation time off, health insurance with NFF funded health reimbursement account on medical plan, and employer contributions toward retirement plan. In addition, NFF provides flexibility to work remotely and access to a “work from home” fund, and flexible spending accounts including medical, commuter, and childcare benefits.
Please Note:
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.