ABOUT MEDA
Mission Economic Development Agency (MEDA) is a community-based, local economic development organization that, for 50 years, has engaged individuals and small businesses in community-building strategies. We aim to achieve economic justice for San Francisco’s low and moderate-income Latino families through asset development. MEDA’s work has centered on equity. We envision generations of Latino families choosing where to call home, thriving economically, succeeding in learning opportunities, and leading policy and social change toward a more equitable society.
Fondo Adelante (Mission Community Loan Fund LLC) is MEDA’s certified CDFI, founded in 2015. With a team of 8, Fondo is the only 100% Spanish-speaking and 100% Latino-led CDFI in the Bay Area, offering microenterprise and small business loans from $5K-$100K as well as business advocacy and technical assistance support. Since its inception, Fondo Adelante has deployed over $16M in equitable and affordable financing to over 500 businesses across the Bay Area – Fondo has a $6M outstanding portfolio with 400 active loans. Fondo’s Business Development Program provides business coaching, high-touch technical assistance, and access to grants to over 400 businesses on a yearly basis.
With this work nearing completion by late summer, MEDA is ready to onboard a locally-based long-term Director / Vice President working on site at our Plaza Adelante HQ to pursue an ambitious growth trajectory for Fondo Adelante CDFI rooted in MEDA’s neighborhood wrap-around family services orientation and our Latino anti-displacement mission.
Most importantly, MEDA’s goal is for Fondo to design, capitalize, and launch a multi-million real estate lending fund to support MEDA’s Community Real Estate affordable housing development arm and other anti-displacement real estate developers in the Mission District and San Francisco.
This is a great opportunity for a CDFI professional to have a real impact in building a promising loan fund.
THE POSITION
Reporting to MEDA’s CEO, who is President of Fondo Adelante’s 10-member Board of Managers, the Vice President will be responsible for the leadership, management, and growth of the CDFI, including: loan and project origination, processing and approval, servicing, product development, technical assistance, marketing and communications, strategic partnerships, balance sheet management, fundraising and capitalization, and compliance and reporting. Fundamentally, the Vice President drives vision and program implementation, aligning strategies, products, and capital to support MEDA’s place-based initiatives for the Latino community in the San Francisco Bay Area. This is an exciting opportunity to grow an ambitious, high-impact CDFI.
DUTIES AND RESPONSIBILITIES:
- Provide on-site leadership and collaboration at MEDA’s Plaza Adelante headquarters in-office at least three out of five days per week, and represent MEDA at local, regional, and national advocacy, training, and field events and conferences as needed.
- Align strategies, products, and financing vehicles with MEDA’s Community Real Estate strategies and Asset Building Programs services, with particular attention paid to place-keeping for the Latino community in San Francisco.
- Implement MEDA’s strategic plan components that involve building out the CDFI’s work in numerous lines of business, responsive to the various needs of the low-to-moderate income, Latino community in the San Francisco Bay Area, including: microenterprise and small business lending, affordable housing financing, and commercial real estate lending.
- Oversee new product development and management of loan application processes across numerous lines of business, including creating and updating application processes, underwriting guidelines, risk mitigation strategies, marketing plans, and loan servicing protocols.
- Lead Fondo Adelante’s capitalization strategy through collaboration with MEDA’s CEO, senior management, and MEDA’s Development team in debt capital acquisition, grant writing, and fundraising to grow the CDFI’s balance sheet and further MEDA’s overall fundraising strategy.
- Direct technical assistance strategies for the CDFI’s target market in both small business and affordable housing lending, ensuring alignment between capital and coaching support.
- Manage the CDFI’s growing team of 8 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.
- Work with MEDA’s Finance team to further build the CDFI’s loan servicing, financial covenant, risk management, and regulatory compliance systems and practices. Strategize with MEDA’s CFO and the CDFI Controller on near-term and long-term balance sheet health to maximize the CDFI’s growth and responsiveness to community needs.
- Identify and cultivate key relationships with other community-based and national organizations to more effectively serve MEDA’s low-to-moderate income Latino community.
- Lead and manage Fondo Adelante Board of Managers meetings, including the development of agendas, materials, and regular communication with Board members. Participate in MEDA Board meetings as needed and prepare CDFI materials for bi-monthly meetings.
- Manage loan portfolio quality and performance with periodic reporting to senior management and Fondo Adelante Board.
- Collaborate with MEDA’s Evaluation team to create and implement an impact evaluation strategy for the CDFI that aligns with MEDA’s overall place-based impact evaluation approach.
- Serve as a member of MEDA’s Senior Management Team and contribute to overall organizational efforts related to strategy, planning & program implementation, operations, staff development, and team building.
- With MEDA’s CEO and Chief Strategy & Advancement Officer (CSAO), collaborate with local, statewide, and national leaders to drive systems change, racial justice, and equitable capital flow within low- and moderate-income communities of color through sharing MEDA’s capital deployment and technical assistance strategies.
QUALIFICATIONS
- Bachelor’s degree in business, finance, public administration, city/urban planning, or related field is required. Master’s degree is preferred. 8-10 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, capital sources, and compliance requirements.
- 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, affordable housing finance, and/or commercial real estate lending is required.
- Knowledge of the San Francisco economic environment, land use policies, and neighborhood planning is highly desirable.
- Knowledge of or experience with under-banked, low-income, and underserved populations.
- Minimum of 8 years of 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.
- Ability to work on-site at least three out of five days per week at MEDA’s HQ.
- Commitment to MEDA’s mission and place-based approach to economic and racial justice.
- Bilingual in English and Spanish is desirable.
To apply visit this link: medasf.bamboohr.com/careers/171
