The Vermont Slauson Economic Development Corporation (VSEDC) is a community-based non-profit organization that enhances resources and opportunities for South Los Angeles residents. Established in 1979 as a citizen advisory committee by Mayor Tom Bradley, VSEDC resulted from the community’s concern after the closing of Sear’s department store, which served as an economic cornerstone. Officially founded as a nonprofit by the late Marva Smith Battle-Bay, VSEDC has developed and implemented a comprehensive approach to community economic development that includes business development, technical assistance and training, residential housing, commercial, and industrial development. Recognized as a national expert, Ms. Battle-Bey spearheaded the organization to accomplish over $60 million in economic development projects within the Vermont Slauson community.
VSEDC has facilitated community development of the South Los Angeles area for more than three decades by providing programs that revitalize the physical, economic, and social life of the community. Now, under the leadership of Executive Director Joseph Rouzan, VSEDC is a newly-designated Community Development Financial Institution (CDFI) making it one of the only non-profits in South Los Angeles authorized to assess and distribute funding. Designed to serve low-income people and/or those who work in economically-distressed communities, CDFIs provide a unique and wide range of development services, financial products, and financial services that help customers build wealth and achieve the goal of participating in the “ownership” society. With products similar to those provided by mainstream banking institutions, VSEDC offers mortgage financing for low-Income and first-time homebuyers, small business lending, and lending for community facilities. Considering urban communities often endure more stringent requirements when attempting to qualify for financial products, VSEDC bridges the access gap allowing residents to economically engage and thrive.
VSEDC proudly stands as a symbol of financial advocacy for marginalized communities. Simply put, South Los Angeles matters and VSEDC leads the way mobilizing dollars from the private sector and government to revitalize the community. In fact, VSEDC’s Business Enterprise Center will be home to The Annenberg Foundation-funded Best Buy Teen Tech Center: a free, interactive learning space to help prepare neighborhood youth for a tech-reliant future. VSEDC responds quickly to socioeconomic changes to address the needs of residents; is financially strong and not solely dependent upon grants given community assets including a shopping center; and is innovative and well-poised for future growth and community impact.
VSEDC seeks a proactive, accountable and relationship-oriented Director of Lending Services to refine processes and systems and lead a growing team in the full cycle of lending including review and processing through to the results of loans being funded. Reporting to the COO/Executive Vice President, the Director of Lending Services will be a hands-on leader who must have demonstrated success in growing and managing a lending portfolio, ideally with CDFI and/or banking experience.
Essential Duties and Responsibilities
- Identifies and creates new business lending opportunities and partnerships related to the organization’s mission of community stabilization and economic development.
- Helps VSEDC establish and grow its CDFI and other loan programs and supporting all facets of VSEDC’s Lending activities to ensure attainment of department goals.
- Performs functions within the lending team including underwriting and processing of VSEDC loans, as needed, to ensure adherence to service level commitments.
- Designs and executes an outreach and marketing plan that results in a significant increase in customer leads and conversions.
- Cultivates and maintains strong relationships with VSEDC’s lending partners.
- Educates lender partners on VSEDC’s products and protocol to expedite smooth closings.
- Furthers VSEDC’s brand through the delivery of exceptional customer service.
- Represents VSEDC’s broader mission and programs through network and community outreach opportunities.
- Supports efforts to ensure compliance and adherence to certifications related to lending operations including CDFI annual renewal and NMLS quarterly reporting.
- Works with VSEDC staff to collect and maintain accurate client and program files.
- Manages and tracks customers through all stages of lending pipeline, overseeing all activities and work-flow of lending staff and ensuring timely and accurate processing of loans.
- Pre-qualifies customers for the appropriate programs based on individual needs and readiness.
- Supports delivery of customer-centric pre-purchase individual and group education to VSEDC customers.
- Acts as a liaison with local organizations for cross referrals.
- Demonstrates sales ability and exceptional customer service skills.
- Takes responsibility for developing and overseeing the lending department budget with a focus on maximizing revenue generation and appropriately managing expenses.
- Plays a significant role in long-term planning, including initiatives geared toward operational excellence.
- Performs other duties as assigned.
The ideal candidate will be:
- Passionate about VSEDC’s mission and community with a strong desire to provide access to high quality affordable loan products to our small business customers which are principally in low to moderate income areas or may be first time borrowers.
- Self-motivated, demonstrating initiative with a strong entrepreneurial mindset.
- Committed to adhere to the highest professional ethical standards in getting the job done.
- Production- and impact-oriented with excellent customer service and communication skills; strong organizational skills and the ability to multi-task.
- Able to quickly build rapport with customers and partners of diverse backgrounds.
- A collaborative leader with excellent interpersonal skills.
- Highly effective in a fast pace, community-focused environment.
KEY QUALIFICATIONS AND EXPERIENCES
The ideal candidate will have:
- 7+ years of banking experience ideally inclusive of a track record in lending and a deep understanding of or direct experience with CDFIs.
- 5+ years of supervisory and leadership experience and relevant loan operations management experience preferred.
- Advanced knowledge of economic development business lending and financial programs.
- Significant loan closing experience.
- Strong knowledge of Microsoft Office products, specifically Excel and Word, and exposure to lending software and customer relationship/client management systems such as Salesforce.
- People manager experience with openness to direction and a collaborative work style.
- A Bachelor’s degree preferably in Business, Accounting or Finance; MBA or equivalent preferred.
- Experience in solving practical problems and dealing with a variety of variables in situations where only limited standardization exists.
- Experience working with small business owners is a plus.
COMPENSATION AND BENEFITS
This position has been designed as a full time, exempt position; will be compensated in the range of $110,000 to $120,000, commensurate with experience, and will have access to a full benefits package including medical insurance, workers’ compensation insurance, paid vacation and company holidays.
HOW TO APPLY
VSEDC is partnering with Walker and Associates Consulting – a Black- and woman-owned and –led strategic management consulting and executive search firm based in California – for this search. To apply, e-mail a cover letter, resume and a list of three references (references will not be contacted without advance notice) to VSEDC@walkeraac.com by 5:00 p.m. PT on Friday, June 11, 2021. Use the Subject Line: Director of Lending Services. Documents should be Microsoft Word or PDF files only (one combined PDF file is preferred). Resume review will begin immediately. Questions? Contact Jeannine Walker, Walker and Associates Consulting, at email@example.com.
VSEDC does not discriminate in employment opportunities or practices on the basis of race, color, religion, national origin, age, size, sex, sexual orientation, marital status, disability, or any other characteristic protected by law. VSEDC is an employment-at-will company.
The Program Manager is responsible for coordinating all resources, meetings, key milestones, communication, and documentation involved in the VSEDC Business Source Program. The Program Manager is responsible for ensuring that the BusinessSource Program meets all deliverable outlines in the Los Angeles Business Source Contract. The Program Manager must develop a plan or framework that ensures compliance that achieves program goals. The administrator will report all program progress to internal/external stakeholders.
Essential Duties and Responsibilities:
• Manage Program Staff:
o Select staff to carry out a program or project.
o Supervise and monitor the work of staff members involved in the project or program.
o Coach and mentor for the team throughout daily duties.
o Manage program budget and account for program expenditures.
• Evaluate Program Success:
o Observe program activities, collect data and create reports based on obtained data.
o Report Audit and Compliance finding to Director of Programs.
Required Knowledge, Skills, and Abilities:
• Must have a well-rounded arsenal of managerial, budgeting, and leadership skills.
• Well-organized and innovative.
• Must inspire and lead the Business Source group to programmatic success.
• Strong time management and prioritization skills are needed.
• Ability to manage a team and establish cooperative working relationships
• Possess strong written and verbal skills.
• Problem-solving and Decision making skills.
• Organized with strong attention to detail
• Knowledge in the use of computers and a variety of software applications.
DETAILED OUTLINE OF QUALIFICATIONS
Must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and ability required. Reasonable accommodations to enable individuals with disabilities to perform the essential functions. Willingness to learn new approaches and techniques to apply to job practice, such as SMART goals, Lean Business Model.
To perform this job successfully, an individual should be proficient in MS Office Suite [Word, Excel, PP]. Understand how to navigate the internet for research.
Certificates and Licenses:
The work environment characteristics described here represent those employee encounters while performing the essential functions of this job. Reasonable accommodations to enable individuals with disabilities to perform the essential functions. The noise level in the work environment can be moderate at times. Must possess the ability to work in a fast pace environment. Must be highly organized and detail-oriented.
There are physical demands required in this position.
Occasional community work and various community outreach events in the community (e.g., health fairs, faith base meetings). At times may be standing for up to one hour at any given time, some walking, and the ability to lift/file a box weighing between 15 to 20 pounds.
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