Senior Loan Officer/Director of Lending

Position Summary:

WORC’s current three-year strategic plan includes significant growth in WORC’s market base and an increase in lending. The goal is to raise the annual count of small business loans from 70, amounting to 2.5 million, to 90 loans, totaling over 3.5 million within the next three years. Reporting to the President, the Director of Lending will work closely with the Director of Programs & Partnerships, receiving leadership, guidance, and operational support to effectively manage all local lending activity, as well as a small team of small business community loan officers. Our ideal candidate will have a strong knowledge of small business lending, and SBA loan programs, and excellent people management skills. This is a “roll up your sleeves” working lender-manager position, which requires an entrepreneurial approach and strong business development skills. The Director of Lending will ensure all lending programs operate ethically and consistently with the mission and values of WORC. This individual must be committed to meeting the needs of underserved markets and have a passion for providing services to a diverse population, including refugees and immigrants. This is a full-time position with a possible hybrid work schedule.

Essential Duties and Responsibilities:

Business Development (20%)

• Cultivate and develop strong relationships in the community and with aligned community partners by actively engaging with City of Phila lending group, and community leaders, attending community events small business grand openings, etc.
• Develop and implement a community-based outreach strategy that generates new clients within the refugee and immigrant communities- Actively participates in the Philadelphia Refugee Resettlement Coalition and the PA State Refugee Coalition.
• Collaborate with the Director of Programs & Partnership to develop and formalize partnership agreements or memorandum of understanding (MOU) with partner agencies that have been identified as key partners. e.g. HIAS, NSC, The Welcoming Center, ACANA.
• Identify borrower and product opportunities where WORC’s capital is most needed and fits within our capabilities and impact objectives.
• Organize annual Microbusiness Day in conjunction with neighborhood organizations.

Small Business and Commercial Lending (55%)

• As a working lender manager, you and the lending team will be responsible for originating, packaging, and closing an annual count of small business and real estate loans, with the goal of increasing the number from 70 small business loans (including 6 real estate loans) totaling 2.5 million to 90 loans (including 8 real estate loans) totaling over 3.5 million within the next three years, all while ensuring compliance with each funding source's requirements
• Manage and grow all direct lending programs, including Small Business Administration (SBA) programs, meeting all annual lending goals, profitability targets, and loan loss requirements within WORC guidelines.
• Develop and guide potential borrowers through the application process and underwriting process, ensuring application packages are complete and timely.
• Determine borrowing needs and propose appropriate loan structures.
• Create financial projections, including traditional and global UCA cash flows to determine borrower repayment capacity.
• Underwrite, structure, and negotiate financing requests, in accordance with all WORC’s credit policy and guidelines.
• Determine funding resources for loans based on contract requirements and lending criteria.
• Facilitate the Loan Committee, including the creation of the agenda, and supporting documentation for the Committee’s approval
• Work with Loan Administration and borrowers to close and secure loans.
• Monitor, manage, and report on loan portfolio quality and performance metrics.
• Manage all loan-related grant and contract-based program deliverables to ensure they are in compliance.
• Manage and maintain WORC’s loan portfolio records and systems.
• Ensure lending team provides pre- and post-loan technical assistance to meet clients’ needs, while also referring clients to WORC programs and/or external resources.

Team Management & Strategy (15%)

• Manage and develop a small team of community lending officers, helping to set business goals, performance goals, and team development goals.
• Supervise Loan Administration and Collections team members to ensure strong loan performance, loan monitoring practices, successful collection activities, and high-quality customer service.
• Develop new loan products and processes to better serve entrepreneurs.
• Partner and collaborate with team members to identify continuous improvement opportunities within the loan life cycle, by sharing your knowledge of industry trends and best practices.
• Create new or modify existing policies and standard operating procedures for approval, and ensure the team receives formal training as needed.
• Play a pivotal role as a key member of WORC's management team in shaping the organization's strategy.
• Provide lending insights and projections to support key business decisions.

People Management: (10%)

• Recruit, onboard, train, and provide coaching to align with operational objectives. Identify skill gaps and develop tailored training for skill enhancement.
• Evaluate employee performance, offer constructive feedback, facilitate growth discussions, conduct performance reviews, and formally acknowledge exceptional performance.
• Lead and motivate the team to excel in their roles.
• Cultivate a positive team culture, fostering collaboration and mutual support.
• Perform other duties as required.

Required Knowledge, Experience, and Skills

• 5+ years of direct lending experience with demonstrated skill in small business and real estate lending, underwriting, and SBA programs.
• 3+ years’ experience in managing and motivating teams.
• Bachelor’s Degree in a business-related field.
• Solid knowledge of basic accounting practices with an ability to understand financial statements and loan documentation.
• Excellent written, verbal, and interpersonal skills with the ability to work with diverse constituents.
• Proficient with Microsoft Products and other technology platforms/systems.
• Experience with Down Home loan portfolio management system a plus
• Experience in community development, federal, and state lending programs desirable.
• Experience in nonprofit or small office environments a plus.
• Approximately 30% of local travel is required. Primarily local travel in the Philadelphia region, and occasional travel in the Northeast region.

Work Environment:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.