What are the responsibilities and job description for the Chief Lending Officer position at TruFund Financial Services,?

Job Description

TruFund Financial Services, Inc. seeks a visionary, results-oriented Chief Lending Officer (CLO) to lead our lending operations and drive growth in alignment with our mission of providing equitable access to capital in underserved communities. Reporting directly to the CEO, the CLO will oversee all lending activities, lending strategy & budget development, drive loan origination, portfolio growth, ensure operational excellence, manage risk, and develop innovative products that address the financial needs of small businesses, nonprofits, and impact historically disinvested communities. The CLO will also support all lending related business development efforts and business advisement / technical assistance.

These responsibilities are to be carried out in a manner consistent with TruFund’s credit and lending policies, portfolio management objectives, loan committee requirements and minimizing legal / financial risks to the organization.

The person in this position will work closely with the CEO and other members of the executive team to enhance investor relations as well as track and report on the impact of TruFund’s lending activities.

The ideal candidate will possess extensive knowledge and understanding of small business and community development lending, particularly to underserved entrepreneurs located in disinvested communities to include minority and women business owners. Candidate should have experience working in underserved low- and moderate-income communities, along with excellent managerial, analytical, and problem-solving skills. Additionally, the candidate must have outstanding verbal and written communication abilities. The candidate should embrace the values of diversity, equity, and inclusion, ensuring these principles are reflected in the portfolio of work.

Estimated Salary : $175,000 - $200,000 per year Bonus as well as a full benefits package that includes health, life, dental and disability insurance, sick leave, 4 weeks’ vacation and 12 paid holidays per year. In addition, the position will be remote but preferably based in the New York Tri-State Region.

About the Role :

The ideal candidate will collaborate closely with TruFund’s CEO and both internal and external stakeholders to develop and implement strategies aimed at expanding TruFund’s CDFI small business and community development lending platform. The candidate will also be responsible for managing and maintaining a robust transaction pipeline, guiding our lending activities through various market cycles, as well as leading and supervising a team of lenders and loan processors.

This is a remote position that serves TruFund's footprint states and CDFI geographic investment areas, which currently include the entire State of New York; Northern New Jersey; Atlanta, Georgia; Dallas and Houston, Texas; New Orleans and Baton Rouge, Louisiana; and Birmingham, Alabama.

Key Responsibilities :

Strategic Leadership

Develop and implement a comprehensive lending strategy aligned with TruFund’s mission, growth goals, and financial sustainability.[KE1]
Provide visionary leadership to the lending team, fostering a culture of accountability, innovation, and collaboration.
Oversee the development and implementation of lending budget, policies, and procedures to drive lending, portfolio growth and overall community impact consistent with TruFund’s goals and mission objectives.
Align lending operations with TruFund’s strategic initiatives, including Community Climate Lending, Structured Lending and Investments, and New Markets Tax Credits (NMTC).
Embraces the values of diversity, equity, and inclusion and ensures they are reflected in the impact portfolio of work.
Participate in special assignments and projects as required.

Operational Oversight

Oversee loan origination, underwriting, servicing, and portfolio management to ensure operational efficiency and high-quality customer service.

Lead the development of new financial products and services, including real estate, contractor mobilization, and climate justice lending products.

Collaborate with Market Operations, Credit and Compliance, and Fiscal teams to streamline processes and enhance systems.

Manage and maintain a solid transaction pipeline and chart the direction of the lending activities business through market cycles.

Direct the loan approval process in conjunction with the Chief Credit Officer, ensuring all loans meet the institution’s lending criteria and risk tolerance before final approval is granted.

Manage and effectively use a combination of grants, tailored loan capital, and de-risking strategies to effectively deploy increased capital levels and to incentivize additional investments in our targeted small business programs, geographies, and populations.

Collaborate with marketing and communications to create and maintain external lending focused collateral content and marketing materials for pitching to new and existing investors and other purposes.

Risk Management

Develop and implement measurable KPIs for the lending team, ensuring alignment with strategic goals and accountability for performance.

Collaborate with credit and compliance leadership to oversee credit and risk assessment processes, ensuring a balanced approach to mission-driven lending and financial sustainability.

Address emerging risks through proactive strategies and continuous improvement of lending policies.

Team Development

Recruit, mentor, and manage a high-performing, diverse team of lending professionals.

Foster a professional development culture, encouraging innovation and collaboration.

Evaluate and optimize team structures to achieve efficiency and alignment with TruFund’s goals.

Partnership Development

Develop and manage relationships with public officials, key government economic development and small business agencies as well as other community stakeholders and capital providers across our CDFI Investment areas, including negotiating program structures, capital / investment loan terms and conditions.

Represent TruFund in industry networks, conferences, and events to strengthen the organization’s reputation and influence.

Maintain constant dialog with clients and react quickly to new market trends to create transaction opportunities.

KNOWLEDGE, EXPERIENCE, SKILLS, AND ABILITIES REQUIREMENTS

10 years of nonprofit or for-profit lending and management experience that are transferable or relevant to community / economic development finance.

Experience in small business and community development lending as well as programmatic lending for low-and moderate-income borrowers preferred.

Superior financial analysis and credit evaluation skills for both real estate projects and small business lending with a deep knowledge of community and economic development lending and related credit issues.

Working knowledge of affordable housing lending and capital structures and / or construction Lending a plus.

Evidence of significant external client contact and business development skills.

Strongly motivated and able to follow through in completing high-quality, detailed work with minimal supervision.

Strong problem-solving and organizational skills include the ability and willingness to balance budget, lending, and organizational responsibilities.

Experience collaborating with finance teams to monitor lending capacity and develop tools for real-time tracking of available capital.

Ability to effectively lead and manage a remote team.

Capacity to prioritize multiple responsibilities to meet internal and customer deadlines while ensuring credit integrity.

Ability to provide creative and flexible solutions to loan applicants by identifying relevant risks and mitigation factors.

Commitment to mission driven lending in low- and moderate-income communities.

Willingness and ability to travel within our footprint states and CDFI investment areas.

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Company Description

Our lending and impact efforts are further enhanced through our two wholly owned subsidiaries : Empowerment Reinvestment Fund, a National CDE offering New Markets Tax Credit to enable access to private investment in distressed communities, and our Tru-Capital Investment Fund – Impact Developers Fund, which provides equity capital to established underrepresented affordable housing developers nationally.

TruFund was established in 2005 as a nonprofit organization dedicated to advancing economic opportunities for people, businesses, and communities in need.

Company Description

TruFund Financial Services, Inc. ("TruFund") is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund and headquartered in New York City with offices in LA, AL, TX & GA. Our mission is to promote and foster economic development within underserved communities and among disadvantaged populations. TruFund achieves this by providing innovative financial solutions that have a TruImpact, revitalize communities, and create jobs. As a nonprofit, mission-driven entity, TruFund offers affordable loan capital to small businesses and nonprofit organizations that are financially viable but have difficulty accessing capital from banks or other conventional lenders. Our lending and impact efforts are further enhanced through our two wholly owned subsidiaries : Empowerment Reinvestment Fund, a National CDE offering New Markets Tax Credit to enable access to private investment in distressed communities, and our Tru-Capital Investment Fund – Impact Developers Fund, which provides equity capital to established underrepresented affordable housing developers nationally. TruFund was established in 2005 as a nonprofit organization dedicated to advancing economic opportunities for people, businesses, and communities in need.

Salary : $175,000 - $200,000

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