Cinnaire is seeking a Director of Lending for its new Community Development lending program, a key driver of future growth for the organization. This search represents an opportunity to join this national leader in community development finance as it continues to build out a new community lending program in newly targeted communities in the Great Lakes and Mid-Atlantic regions. Since its founding in 1993, Cinnaire has expanded to close to 100 team members with 7 offices and programs in 9 states, partnering with community organizations to support creation/retention of 81,000 jobs, 653 affordable housing projects, and improving the lives of 97,000 low- and moderate-income individuals. For more information about the organization, please visit www.cinnaire.com.
The Director of Lending (DL) is a new position which is being created to provide leadership to all community development loan origination activities with initial focus on the Wilmington, DE, Detroit, MI, and LaCrosse, WI markets. The new program is intended to focus on smaller affordable housing projects and other community development projects, such as community facilities which are not served by other existing programs. The DL provides critical support on setting community lending direction/policies, on issues related to affordable housing lending, and on developing additional community lending product offerings to better meet target needs. The Director of Lending can be based in any of the cities where Cinnaire has an office, (Detroit, Wilmington, Madison, Grand Rapids, Lansing, Indianapolis, Chicago). The position will require some regular travel to the target cities.
Demonstrated competency in community development and nonprofit lending, cash flow and project analysis, underwriting, structuring and lending policies and procedures;
Demonstrated competency in affordable multifamily lending;
Thorough understanding of nonprofit and real estate development financial statements;
Strong organizational skills and detail orientation
Ability to communicate effectively and work collaboratively in a multicultural environment;
High-level written and oral communication and presentation skills;
7-10 years of experience in community facilities and/or affordable housing that includes knowledge of nonprofit and developer issues, cash flow and project analysis, and underwriting and portfolio management;
MBA or MA preferred, ideally in business, accounting, finance, community development or urban planning. A BA plus five years additional relevant experience may substitute for an advanced degree;
3-5 years of hands-on supervisory experience;
Previous management experience in a CDFI preferred;
Recognized collaborative management style, with the ability to manage, motivate and grow a professional team.
Additional Salary Information: Very good benefits package.