Vice President of Fondo Adelante bei Mission Economic Development Agency

Title: Vice President of Fondo Adelante

Program: Fondo Adelante (CDFI)
Reports to: MEDA’s Chief Program Officer
Pay range: $135,000- $165,000

Location: San Francisco, CA.

This is a hybrid position, and candidates must be able to work at least four days per week in our San Francisco office.

Apply here: In order to apply for this role, please submit a cover letter and resume to Nick Swetye ([email protected]), our recruiting partners at Reneris.

JOIN OUR MEDA TEAM

Mission Economic Development Agency (MEDA) is a community-based, local economic development organization that, for 50 years, has engaged individuals and small businesses in community-building strategies. We aim to achieve economic justice for San Francisco's low and moderate-income Latino families through asset development. MEDA’s work has centered on equity. We envision generations of Latino families choosing where to call home, thriving economically, succeeding in learning opportunities, and leading policy and social change toward a more equitable society.

Fondo Adelante (Mission Community Loan Fund LLC) is MEDA’s certified CDFI, founded in 2015. With a team of 8, Fondo is the only 100% Spanish-speaking and 100% Latino-led CDFI in the Bay Area, offering microenterprise and small business loans from $5K-$100K as well as business advocacy and technical assistance support. Since its inception, Fondo Adelante has deployed over $17M in equitable and affordable financing to over 500 businesses across the Bay Area – Fondo has a $4.2M outstanding portfolio with 250  active loans. Fondo’s Business Development Program provides business coaching, high-touch technical assistance, and access to grants to over 300 businesses on a yearly basis. 

With this work nearing completion by late summer, MEDA is ready to onboard a locally-based long-term  Director / Vice President working on site at our Plaza Adelante HQ to pursue an ambitious growth trajectory for Fondo Adelante CDFI rooted in MEDA's neighborhood wrap-around family services orientation and our Latino anti-displacement mission. 

Most importantly, MEDA's goal is for Fondo to design, capitalize, and launch a multi-million dollar real estate lending fund to support MEDA's Community Real Estate affordable housing development arm and other anti-displacement real estate developers in the Mission District and San Francisco.  

This is a great opportunity for a CDFI professional to have a real impact in building a promising loan fund.

YOUR CAREER OPPORTUNITY

Reporting to MEDA’s Chief Program Officer (CPO), the  Vice President will be responsible for the leadership, management, and growth of the CDFI and Business Development Program (BDP), including: loan and project origination, processing and approval, servicing, product development, technical assistance,  marketing and communications, strategic partnerships, balance sheet management, fundraising and capitalization, and compliance and reporting. Fundamentally, the  Vice President drives vision and program implementation, aligning strategies, products, and capital to support MEDA’s place-based initiatives for the Latino community in the San Francisco Bay Area. This is a unique opportunity to expand the reach and impact of a mission-driven CDFI serving underserved communities.

DUTIES & RESPONSIBILITIES

• Provide on-site leadership and collaboration at MEDA’s Plaza Adelante headquarters in-office at least four out of five days per week, and represent MEDA at local, regional, and national advocacy, training, and field events and conferences as needed. 
• Align strategies, products, and delivery of services with particular attention paid to place-keeping for the  Latino community in San Francisco. 
• Implement MEDA’s strategic plan components that involve building out the CDFI’s work in numerous lines of business, responsive to the various needs of the low-to-moderate income,  Latino community in the San Francisco Bay Area, including: microenterprise and small business lending, affordable housing financing, and commercial real estate lending. 
• Oversee new product development and management of loan application processes across numerous lines of business, including creating and updating application processes, underwriting guidelines, portfolio risk management practices, risk mitigation strategies, marketing plans, and loan servicing protocols. Conduct an annual review of the Loan Policy Manual and make recommendations to Fondo Adelante’s Board of Managers.
• Lead Fondo Adelante’s capitalization strategy through collaboration with MEDA’s CEO, CPO, senior management, and MEDA’s Development team in debt capital acquisition, grant writing, and fundraising to grow the CDFI’s balance sheet and further MEDA’s overall fundraising strategy. 
• Prepare the CDFI’s annual operating budget, develop financial forecasts, and establish performance metrics to track portfolio and program outcomes.
• Lead and guide the Business Development team in delivering technical assistance through workshops, one-on-one coaching, and client outreach. Ensure that services are fully aligned with lending products, drive strong borrower engagement, and meet or exceed government contract performance metrics for participation, outcomes, and impact.
• Manage the CDFI’s growing team of 6  by providing day-to-day support, professional training,  and accountability for staff toward clear goals and outcomes. Foster team-building, conflict resolution, and professional development in a way that leads to a healthy work environment.
• Work with MEDA’s Finance team to further build the CDFI’s loan servicing, financial covenant,  risk management, and regulatory compliance systems and practices. Strategize with MEDA’s  CFO on near-term and long-term balance sheet health to maximize the  CDFI’s growth and responsiveness to community needs. 
• Manage credit approval processes and ensure disciplined monitoring of loan portfolio performance, loan loss reserves, and compliance with investor/lender’s covenants.
• Identify and cultivate key relationships with other community-based and national organizations to more effectively serve MEDA’s low-to-moderate income Latino community. 
• Lead and manage Fondo Adelante Board of Managers meetings, including the development of agendas, materials, and regular communication with Board members. Participate in MEDA Board meetings as needed and prepare CDFI materials for bi-monthly meetings.  
• Manage loan portfolio quality and performance with periodic reporting to senior management and Fondo Adelante Board.  
• Collaborate with MEDA’s Evaluation team to create and implement an impact evaluation strategy for the CDFI that aligns with MEDA’s overall place-based impact evaluation approach. 
• Serve as a member of MEDA’s Senior Management Team and contribute to overall organizational efforts related to strategy, planning & program implementation, operations, staff development, and team building. 
• With MEDA's CEO and Chief Program Officer  (CPO), collaborate with local, statewide, and national leaders to drive systems change, racial justice, and equitable capital flow within low- and moderate-income communities of color through sharing MEDA’s capital deployment and technical assistance strategies.

YOUR KEYS TO SUCCESS

• A bachelor’s degree in business, finance, public administration, city/urban planning, or a related field is required. A master’s degree is preferred. 10 years of community development finance or banking experience can be substituted for a graduate degree.
• Proven track record in originating, underwriting, and managing small business and commercial real estate loans.
• Strong finance background with demonstrated ability to analyze financial statements (balance sheets, income statements, cash flow), prepare budget projections, and track portfolio performance measures.
• In-depth knowledge of and experience with CDFI lending products and other community finance vehicles, capital sources, and compliance requirements. 
• Strong, collaborative leadership and staff management skills, with an emphasis on staff empowerment, project management, and accountability to results. 
• An entrepreneurial work ethic, creativity, and openness to exploring new ideas, systems, and financial tools. 
• Experience with small business lending, affordable housing finance, and/or commercial real estate lending is required. 
• Knowledge of the San Francisco economic environment, land use policies, and neighborhood planning is highly desirable. 
• Knowledge of or experience with under-banked, low-income, and underserved populations. 
• Minimum of 10  years of experience within a lending environment in a senior management position, preferably within a nonprofit lender, credit union, or other CDFI. 
• Interest in community development policy and a strong desire to delve into both the details and the bigger picture of neighborhood planning. 
• Excellent written and oral communication skills. 
• Ability to work on-site at least four  out of five days per week at MEDA’s HQ 
• Commitment to MEDA’s mission and place-based approach to economic and racial justice.  
• Being bilingual in English and Spanish is desirable. 

YOUR MEDA EXPERIENCE

Do meaningful work in an innovative workplace while being challenged for your professional growth.

Joining MEDA means having meaningful experiences that develop achievers – from across the Mission neighborhood and from within our organization. We find meaning and fulfillment in our work as we see our community thrive and are driven to achieve better outcomes by challenging ourselves to innovate in our ways of working.

We offer a market-leading benefits program that reflects MEDA's values and mission. We invest in people's lives and support our own people's health and financial well-being.

Our core benefits include:

• Comprehensive medical, vision, and dental insurance for employees and their dependents – 100 percent covered by MEDA
• 401(k) plan for employees
• Generous paid time off - with a minimum of 20 days for new employees
• Employee Assistance Program that offers free financial or legal counseling to employees or their families
• Other forms of voluntary benefits

Applicants must be authorized to work for ANY employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.