Job Posting: Executive Director, CDFI Friendly Bloomington

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Organization Summary

In response to a greater need for local financing beyond what local banks could provide, a group of Bloomington entities created CDFI Friendly Bloomington in 2018 to increase flexible, affordable financing for projects and businesses that banks and other conventional financial institutions could not finance. 

CDFI Friendly Bloomington was formed as a 501(c)(3) organization to implement a strategy developed for the unique challenges of smaller communities. We connect regional and national Community Development Finance Institutions (CDFIs) to investment opportunities in Bloomington and the Indiana Uplands region. 

CDFIs are financial institutions that operate to meet community financing needs outside the margins of conventional finance. They provide capital and services to underserved populations – low-income, low-wealth, and other disadvantaged groups and areas. More than 1,000 CDFIs operate in the U.S., providing billions of dollars of financing annually.

CDFI Friendly Bloomington promotes local projects, brokers deals, and offers financing alongside CDFIs to incent their participation or bridge an asset gap in the project. Our mission is to strengthen the communities of our region by increasing access to flexible, affordable capital for small businesses, nonprofits, affordable housing, and community projects in Bloomington and the 13-county Indiana Uplands region (Brown, Crawford, Daviess, Dubois, Greene, Jackson, Lawrence, Martin, Monroe, Morgan, Orange, Owen, and Washington).

Primary Responsibilities

Reporting to a volunteer Board of Directors representing local government, financial institutions, small businesses, and nonprofits, the Executive Director assumes responsibility for the daily operations of CDFI Friendly Bloomington to:

  • Collaborate with regional and national CDFIs and encourage them to serve the Bloomington market.
  • Market and promote Bloomington and Monroe County to CDFIs across the state, the region, and the nation.
  • Source potential investment opportunities in Bloomington, Monroe County, and the Uplands region and provide technical assistance to prepare them for investment.
  • Match CDFIs to local demand for financing from businesses, housing developers, nonprofits, and community organizations.
  • Structure and manage financial investments alongside CDFIs in support of local borrowers.
  • Raise operational and investment funds, including seeking and cultivating relationships with new and additional funders and investors.

Deliverables & Activities

Programming 

  • Represent CDFI Friendly Bloomington in the local community, promoting its goals and services, and with the CDFI industry locally, regionally, and nationally.
  • Coordinate CDFI Friendly Bloomington’s work with investors, funders, the City of Bloomington, and others pursuing aligned goals. 
  • Administer community development financing program to deploy the $4,250,000 loan fund.
  • Source potential investments through meetings, conversations, and partnerships with a variety of community groups and channels.
  • Manage technical assistance programs and partnerships.
  • Negotiate and structure financing using CDFI Friendly Bloomington’s loan fund, present financing opportunities to CFB’s Investment Committee and Board, close transactions, and administer loan servicing programs.
  • Monitor investments and portfolio performance. 
  • Report regularly to the Board and investors on programmatic outcomes and performance. 
  • Develop and propose programmatic adjustments and/or enhancements in pursuit of CDFI Friendly Bloomington’s mission and purpose. 
  • Provide strategic direction and leadership, including recommending to the Board of Directors possible improvements in the organization’s strategy and program. 
  • Participate in CDFI industry activities to understand CDFI priorities to promote Bloomington and Monroe County and to seek financial support. 

 

Management 

  • Oversee and optimize operating systems, including financial management, operational policies, loan policies, and other core functional procedures. 
  • Create and implement procedures and documentation to close funding and financing as well as other contractual business relationships for CDFI Friendly Bloomington. 
  • Recruit, develop, and manage new employees to expand organizational impact.
  • Work with the board of directors to create and oversee the annual budget.
  • Work with Treasurer to ensure proper financial controls are in place.

 

Fundraising 

  • Raise funds, as determined by the Board of Directors, to ensure ongoing operations and organizational sustainability. 
  • Manage relationships with funders and investors, including seeking and cultivating relationships with new and additional funders and investors, as needed. 
  • Maintain and track fundraising results. 

 

Marketing and Public Relations 

  • Develop outreach and marketing materials to distribute to potential partners, investors, funders, and allies.        
  • Conduct organized and effective public relations efforts in local and CDFI markets through social media, earned media, website, and direct communications. 
  • Ensure a clear understanding of the goals and mission of CDFI Friendly Bloomington throughout the region. 

Qualifications

This position involves an unusual blend of financial experience, credit expertise, nonprofit management history, and local market awareness. The Executive Director must have strong financial, writing, speaking, public relations, management, leadership, and planning skills. They must be able to work in local communities with partners that bring diverse backgrounds and skills, as well as in the financial marketplace of CDFIs, banks, and foundations. They should be skilled organizers able to bring people together across multiple areas of expertise and diverse cultures.

The ideal candidate will bring credit experience at a CDFI and/or in community development, experience or capacity to manage a startup organization, strong leadership qualities, and a disposition to work closely with a nonprofit board. Familiarity with Bloomington, Monroe County, and the Uplands Region is a plus.

Requirements

The Executive Director must have a bachelor’s degree. A master’s degree in business, management, economic or community development, banking, and/or finance is a plus. They must have at least five (5) years of work experience, including management, credit, and public-facing duties such as public relations. Strong candidates will demonstrate continuous growth in responsibility in their work and regular pursuit of promising new opportunities.

To Apply

Please submit your cover letter and resume or CV to 

CDFI Friendly Bloomington

c/o Community Foundation of Bloomington and Monroe County

100 S. College Avenue, Suite 240

Bloomington, IN 47401

OR

email cdfifriendly@cfbmc.org

Please submit your application by January 16, 2023

CDFI Friendly Bloomington is an equal opportunity employer and offers employment opportunities without regard to race, creed, color, ethnicity, national origin, sex, sexual orientation, sexual expression, age, marital status, physical ability, pregnancy, religion, veteran status, or military obligations. 

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