Business Finance Officer

INITIATIVE FOUNDATION
Position Description
Business Finance Officer

Pay Range: C
Status: Full-time, Non-Exempt, Flexible Schedule Possible
Reports To: Business Finance Manager
Direct Reports: None
Teams: Staff, Business Finance, Entrepreneurship
Location: Primarily Little Falls Office with Field and Remote Work Likely

Position Summary: This position has responsibility to support utilization of the Foundation s $17 million business financing portfolio, lending program growth, business development and portfolio management. This includes loan underwriting, assisting with development and maintenance of referral partnerships, serving loan clients across the region and business planning. A strong commitment to the vision, mission and values of the Foundation is essential as we work together to serve the communities of central Minnesota.

Position Responsibilities:

1. Business Financing (35%): Working with our banking and economic development partner organizations, promotes IF s lending programs to generate loan volume. Reviews applications for loans, collaborates with financing partners to build innovative project structures, produces loan write-ups for consideration, collaborates with support staff to prepare documents for approved loans and closes loans. Follows lending system operations and procedures, legal requirements, insurance, UCC filings, etc. to assure compliance. Provides technical assistance to businesses and economic development professionals in the region on a limited basis. Assists Business Finance Manager in monitoring and recommending changes to the lending policy.
2. Enterprise Academy Lending (25%): Serve as primary lending officer for clients in the Foundation s Enterprise Academy program, which provides training and technical assistance to lower income entrepreneurs and entrepreneurs of color. Performs loan analysis and reviews loan write-ups for consideration, prepares documents for approved loans and closes loans. This would include structuring loans according to tenets of Islamic-acceptable financing.
3. Portfolio Management & Analysis (20%): Conducts reviews on loans at least annually and analyzes loan client financial information, maintains portfolio risk analysis and performance statistics. Monitors impaired loans and negotiates workout arrangements, recommends loans to be charged-off. Administers technical assistance for businesses and tracks outcomes. Assists Business Finance Manager in developing and implementing business plans, budgets and projections for the sustainability and growth of the business-financing portfolio, including measures of return on investment from both a financial and mission perspective.
4. Business Finance Committee/Program Planning (10%): Participate in Business Finance Committee meetings and assist Business Finance manager in establishing meeting agendas. Presents loan requests for consideration. Assists with needs assessments, strategic planning and program development. Maintains strong working relationships with business financing resources in the region and promotes lending products.
5. Other Duties (10%): Participate in staff meetings and events and performs other duties as assigned by Leadership Team. This may include special projects, assisting with other Foundation training events, working on cross-work group teams, etc. Serves as ambassador for other Initiative Foundation programs and provides connections and referrals as appropriate. Participates in meetings with financial institutions, economic development organizations and other referral partners. Carries out other duties as assigned by the Vice President for Inclusive Entrepreneurship, President, or a member of the Leadership Team.

Knowledge, Skills and Abilities: Position requires thorough understanding of business finance, commercial lending, and economic development. Proficiency in Microsoft Office, including advanced Excel skills. Demonstrated experience in loan underwriting and underwriting software. Ability to manage multiple deadlines and work both independently and in a team setting is needed. Excellent oral and written communications, critical thinking, problem-solving and conflict-resolution skills are required. Cultural agility and awareness for working with diverse populations necessary.

Minimum Requirements: Bachelor s degree in business, finance, economics, or related field, with a minimum of three years of lending and/or commercial loan underwriting experience or equivalent. Position requires a valid driver s license and insurance coverage or access to reliable transportation. Demonstrated interest and experience working with diverse populations and entrepreneurs and a high comfort level working collaboratively in a digital environment. Position requires a valid driver s license and insurance coverage, or access to reliable transportation.

How to Apply: Click Apply to visit our website for application (required) and for details on how to apply. EOE

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Associated topics: banking solution, counselor, loan, loan officer, loan servicing officer, mortgage loan, mortgage originator, personal banker, personal banker iii, sale