Latino Economic Development Center
The Latino Economic Development Center (LEDC) is a non-profit community development organization founded in 1991. LEDC’s mission is to serve as a catalyst that drives the economic and social advancement of low-to-moderate-income Latinos and other underserved communities by equipping them with the skills and tools to achieve financial independence, acquire personal and business assets, and create generational wealth. We achieve our mission through small business development and financing, homeownership counseling, tenant services, and affordable housing preservation.
Our Lending work has been a critical component in our work to help individuals create economic opportunity for themselves, their families, and their communities. Currently, the program originates 200+ loans annually out of 5 offices located in the DMV area and Puerto Rico. LEDC manages a lending portfolio of 500+ borrowers with an outstanding balance of over $9 million. The rapid growth of our Lending portfolio requires experienced leadership to guide staff, share best practices, develop new products, and continuously improve lending procedures. Specifically, the LEDC Director of Business & Consumer Lending has the following responsibilities:
- Develop annual goals aligned with the LEDC’s strategic plan, loan origination goals, lending trends, and client’s needs.
- In coordination with the Director of Small Business Technical Assistance design new lending products and organize the necessary resources for execution.
- In collaboration with the Director of Development and the CEO, raise funds to maintain adequate levels of liquidity and operations.
- Build and nurture relationships with funders and stakeholders which objectives are aligned with LEDC’s mission. Represent LEDC in events, meetings with stakeholders and public hearings as needed.
- Oversee loan origination and servicing processes. Implement improvements and corrective actions to achieve origination and portfolio performance goals.
- Lead the credit risk committee to make decisions regarding non-performing loans, intercreditor agreements and policies and procedures to manage credit risk.
- Support the Executive Director and collaborate with the executive leadership team to address organizational and programmatic challenges/opportunities.
- Maintain adequate levels of staff to achieve programmatic goals by leading the promotion, hiring, and onboarding process of lending staff.
- Motivate and support members of the lending team to achieve their personal and program goals. Use performance reviews, personal assessments, and programs’ progress reports to inform decisions related to staff management.
- Lead periodical departmental meetings to promote a positive and professional culture, ensure effective team communication, foster peer-to-peer learning, discuss client’s needs and develop initiatives to improve the social impact and efficiency of the lending activities.
- Design and oversee the processes to collect, evaluate and report data/outcomes/impact of lending activities.
- In coordination with the Director of Operations, lead the selection and implementation of software and IT tools to streamline the lending cycle.
- Ensure that LEDC lending activities follow applicable laws and guidelines from SBA, USDA and all lending programs LEDC participates in.
- Approve loans between $5,000 to $50,000 and recommend loans for approval of the Board of Directors Lending Committee (>50K) assisted by the Loan Operations Manager.
- Supervise the Loan Operations Manager and Loan Portfolio Manager.
- Bachelor’s degree in accounting, finance or business-related
- Excellent written and verbal communications skills required
- Effective and motivational manager of diver and dispersed teams
- At least three years of micro-lending or business lending experience, including underwriting and loan/portfolio management or equivalent experience in financing.
- Innovative and creative problem-solving mindset
- Capable of coordinating across various internal departments
- Five years of Banking Experience
- MA/MBA degree in accounting or finance
- Proven fundraiser, ideally bringing your own set of funder contacts
- At least five years of micro-lending or business lending experience, including underwriting and loan/portfolio management.
- Experience working with small business owners
- Bilingual (English/Spanish), and culturally sensitive required
Salary for this role ranges between $95,000- $120,000 based on experience. Competitive Benefits program (health and life, dental, vision).
To apply, please e-mail a resume, cover letter, and writing sample to Emi Reyes, CEO & Executive Director at [email protected].
LEDC is an EEO employer committed to providing equal employment opportunities to all applicants and employees. In accordance with applicable laws, regulations, and Executive Orders, LEDC takes affirmative action to ensure that applicants and employees covered are not discriminated against because of their race, color, religion, national origin, sex (gender), age, disability, pregnancy, marital status, sexual orientation, personal appearance, gender identity or expression, family responsibilities, political affiliation, veteran status, genetic information, or any other characteristic that is protected by applicable law. For more information about your equal employment opportunity rights, please view this poster: EEO is the Law. LEDC also participates in E-Verify.