Experienced Part-Time Loan Underwriter for Community Development Financial Institution – Supporting Low-Income Entrepreneurs with Access to Transformative Capital

Introduction to Inclusive Action for the City

Inclusive Action for the City is a pioneering non-profit, community development financial institution (CDFI) dedicated to serving underinvested communities and fostering thriving local economies. Our mission is built on the principles of improving access to transformative capital and advancing policy through collaborative research and community-driven advocacy. We envision a future where diverse communities have equitable and sustained access to resources, exercising agency over their futures. As a Loan Underwriter, you will play a pivotal role in supporting our Access to Capital initiatives, making a tangible difference in the lives of low-income entrepreneurs.

Position Overview

We are seeking a self-motivated and experienced Loan Underwriter to join our team on a part-time basis. As a Loan Underwriter, you will be responsible for reviewing and analyzing loan applications from low-income entrepreneurs, working closely with our Underwriting Team, business coaching team, and outreach team. Your primary objective will be to gather all necessary information to develop a comprehensive analysis of the applicant's ability to take on debt capital and grow their business. This is an exceptional opportunity to utilize your skills in finance, administration, and project management to drive success and contribute to the economic empowerment of underinvested communities.

Key Responsibilities

• Review 10-20 loan applications per week, ranging from $500 to $50,000, to assess the applicant's creditworthiness and business potential.
• Analyze all available and necessary information on applicant files to develop a comprehensive analysis of the applicant's ability to take on debt capital.
• Monitor the loan application process, ensuring timely review of files in the application pipeline.
• Review applicant credit reports and alternative credit score data to inform underwriting decisions.
• Collaborate with the Technical Assistance team to collect missing information and address questions that emerge during the underwriting process.
• Prepare business financial statements and cash flow projections to support loan applications.
• Prepare loan memoranda and supporting materials for the Loan Committee, presenting a clear and compelling case for loan approval.
• Maintain organized electronic and hard client files, ensuring accurate and up-to-date records.
• Update files and maintain accurate client data in conjunction with other relevant team members, utilizing systems such as DownHome Solutions and Lenderfit.
• Contribute to the cultivation of a creative, productive environment with Inclusive Action staff and its partners, fostering a culture of collaboration and innovation.

Ideal Candidate Qualifications

To excel in this role, you will possess a unique blend of skills, experience, and personal qualities. The ideal candidate will have:

• A Bachelor's degree in Business Administration, Public Policy, Public Administration, Economics, Finance, or a comparable field, with a strong foundation in finance and administration.
• At least five years of experience in administration, finance, program management, or small business assistance, with a proven track record of success in a related field.
• Strong organization and file management skills, with the ability to create and work with systems for effective management of high-volume data.
• Experience in project management, with a focus on prioritizing tasks, meeting deadlines, and achieving results in a fast-paced environment.
• Strong written and verbal fluency in Spanish or Tagalog, with the ability to communicate effectively with diverse audiences.
• A valid driver's license with reliable transportation, and a willingness to work in a hybrid environment, with a mix of in-person and remote work.
• A positive, upbeat attitude that supports Inclusive Action staff and its organizational partners, with a commitment to our mission and values.

Essential Skills and Competencies

To succeed as a Loan Underwriter, you will possess a range of skills and competencies, including:

• Strong analytical and problem-solving skills, with the ability to analyze complex financial data and make informed decisions.
• Excellent communication and interpersonal skills, with the ability to build strong relationships with clients, colleagues, and stakeholders.
• Strong attention to detail, with a focus on accuracy and quality in all aspects of your work.
• Ability to work effectively in a team environment, with a focus on collaboration, mutual respect, and open communication.
• Strong time management and organizational skills, with the ability to prioritize tasks, manage multiple projects, and meet deadlines.
• Proficiency in Microsoft Office, with experience in financial software and systems, such as DownHome Solutions and Lenderfit.

Career Growth Opportunities and Learning Benefits

At Inclusive Action, we are committed to the growth and development of our staff, providing opportunities for professional development, training, and education. As a Loan Underwriter, you will have the opportunity to:

• Develop your skills and expertise in finance, administration, and project management, with a focus on community development and economic empowerment.
• Work with a talented and dedicated team, collaborating with colleagues from diverse backgrounds and disciplines.
• Contribute to the development of innovative programs and initiatives, addressing the complex challenges facing underinvested communities.
• Participate in training and professional development opportunities, enhancing your knowledge and skills in areas such as financial analysis, credit scoring, and loan underwriting.

Work Environment and Company Culture

At Inclusive Action, we pride ourselves on our dynamic and inclusive work environment, fostering a culture of collaboration, innovation, and mutual respect. Our team is committed to:

• Creating a positive and supportive work environment, with a focus on employee well-being and job satisfaction.
• Fostering a culture of diversity, equity, and inclusion, with a commitment to addressing the complex challenges facing underinvested communities.
• Encouraging open communication, feedback, and collaboration, with a focus on teamwork and collective success.
• Providing opportunities for professional development and growth, with a focus on enhancing skills and expertise.

Compensation, Perks, and Benefits

We offer a competitive salary of $50/hour, dependent on experience, for this part-time position, with an option to extend for an additional 5 months. Our benefits package includes:

• Comprehensive health insurance, with a focus on employee well-being and health.
• Retirement savings plan, with a focus on long-term financial security.
• Paid time off, with a focus on work-life balance and employee satisfaction.
• Opportunities for professional development and growth, with a focus on enhancing skills and expertise.

Conclusion

If you are a motivated and experienced professional, passionate about community development and economic empowerment, we encourage you to apply for this exciting opportunity. As a Loan Underwriter, you will play a critical role in supporting our Access to Capital initiatives, making a tangible difference in the lives of low-income entrepreneurs. Join our team and contribute to the growth and development of underinvested communities, fostering a more equitable and just society for all.

To apply, please submit your cover letter, resume, one writing sample, and three references to [email protected]. We look forward to hearing from talented candidates like you.