Reports to: Executive Director
Revised: June 2017
Reporting to the Executive Director, the Director of Adelante Fund is responsible for the leadership, management, and growth of MEDA’s nascent CDFI. The Director of Adelante Fund manages a diverse and growing small business loan portfolio and is tasked with building on the CDFI’s first two years of lending success to expand into other products and lines of business that are relevant to the Mission community, including innovative real estate, workforce, and consumer financing tools. The Director provides leadership in all aspects of the CDFI, including: loan and project origination, processing and approval, servicing, product development, strategic partnerships, balance sheet management, CDFI capitalization, and compliance. This is an exciting opportunity to develop an ambitious, emerging CDFI by guiding its vision and leading its small team to implement the CDFI’s growth.
Fundamentally, the Director of Adelante Fund will provide leadership of the CDFI in support of achieving one of MEDA’s key results: The Mission is a strong and supportive community for Latino residents, businesses and institutions. With a vision for Adelante Fund as a true neighborhood-focused CDFI for the Mission District, the Director will ensure that the CDFI attracts investments and channels them into financing vehicles and products that significantly contribute to MEDA’s economic development and neighborhood preservation commitment.
Mission Economic Development Agency (MEDA) – Building on its 43-year history, MEDA is advancing innovative approaches to generational asset building. Rooted in the Mission and focused on San Francisco, MEDA’s mission is to strengthen low- and moderate-income Latino families by promoting economic equity and social justice through asset building and community development. We envision generations of Latino families with sufficient assets to thrive. Inspired by the past and present life of the Mission District, families are rooted in vibrant, diverse and forward-thinking communities, have opportunities to grow, and are actively engaged in the civic and political life of their neighborhoods and the institutions that affect their lives.
As of 2017, MEDA is a certified Community Development Financial Institution (CDFI). MEDA’s small business loan fund, Adelante Fund, provides business capital to primarily Latino, immigrant, and women-owned local businesses with an emphasis on job creation and place-keeping.
Our direct service Asset Building programs serve over 7,000 individuals each year through education and coaching programs, including: financial capability, housing counseling (homeownership and rental), business development, workforce development, digital literacy, and free tax and ITIN preparation. We intentionally devote resources to research and evaluation, as well as community organizing and advocacy. In the process, MEDA is helping to develop best practices in the field and sharing these models locally, regionally, and nationally.
MEDA is the backbone, lead agency of the Mission Promise Neighborhood, a neighborhood based effort to improve education and create family economic stability for in the Mission District through a cradle- to college- to career continuum of services. This initiative, funded through the Department of Education is a collective impact, 2-generation model that involves 26 community based organization partners, as well as City of San Francisco government agencies, the San Francisco Unified School District, and the Mayor’s Office of San Francisco as close collaborators in the implementation effort.
Through its Community Real Estate work, MEDA, an affordable housing developer, owns or manages 500 units of affordable housing in the Mission. MEDA is in the process of developing another 500 units to be completed by 2019. The Adelante Fund is expected to be a potential financing vehicle for Community Real Estate.
DUTIES AND RESPONSIBILITIES
- Create and implement a strategic plan to build out the CDFI’s work in numerous lines of business that is responsive to the various needs of the low-to-moderate income, Latino community in San Francisco, including: microlending, small business and SBA lending, real estate finance and investment, and consumer lending.
- Oversee new product development and management of loan application process across numerous lines of business, including creating and updating application processes, underwriting guidelines, risk mitigation strategies, marketing plans, and loan servicing protocols.
- Lead Adelante Fund’s capitalization strategy through collaboration with Executive Director, senior management, and MEDA’s Development team in debt acquisition, grant writing, and fundraising to grow the CDFI’s balance sheet and further MEDA’s overall fundraising strategy.
- Manage the CDFI’s growing team by providing day-to-day support, professional training, and accountability for staff toward clear goals and outcomes. Foster team-building, conflict resolution, and professional development in a way that leads to a healthy work environment.
- Align strategies, products, and financing vehicles with MEDA’s Community Real Estate products and Asset Building Programs services, with particular attention paid to place-keeping for the Latino community in San Francisco.
- Work with MEDA’s Finance team to further build the CDFI’s loan servicing, fiscal covenant, and regulatory compliance systems and practices. Strategize with MEDA’s Finance Director on near-term and long-term balance sheet health to maximize the CDFI’s growth and responsiveness to community needs.
- Identify and develop key relationships with other community-based and national organizations to more effectively serve MEDA’s low-to-moderate income, Latino community through the CDFI.
- Manage loan portfolio quality and performance with periodic reporting to senior management and Board. Manage relationship with MEDA’s Board Loan Committee through regular reporting on the CDFI and relevant strategy discussions.
- Create and implement an impact evaluation strategy for the CDFI that aligns with MEDA’s overall place-based impact evaluation approach.
- Represent MEDA at local, regional, and national advocacy, training, and field events and conferences as needed.
- Bachelor’s degree in business, finance, public administration, city/urban planning or related field is required. Master’s degree is preferred. 5-7 years of community development finance or banking experience can be substituted for a graduate degree.
- In-depth knowledge of and experience with CDFI lending products and other community finance vehicles.
- Strong, collaborative leadership and staff management skills, with an emphasis on staff empowerment, project management, and accountability to results.
- An entrepreneurial work ethic, creativity and openness to exploring new ideas, systems, and financial tools.
- Experience with small business lending or commercial real estate lending required.
- Knowledge of the San Francisco economic environment, land use policies, and neighborhood planning within the Mission is highly desirable.
- Knowledge of or experience with under-banked, low-income, and underserved populations is highly desirable.
- Extensive experience within a lending environment in a senior management position, preferably within a nonprofit lender, credit union, or other CDFI.
- Interest in community development policy and a strong desire to drive into both the details and bigger picture of neighborhood planning.
- Excellent written and oral communication skills.
- Commitment to MEDA’s mission and place-based approach to economic and racial justice.
- Bilingual in English and Spanish is desirable.
Please click the following link and complete the application form including resume and cover letter.