Vice President Of Credit

About the Organization

CDC Small Business Finance is now part of the Momentus Capital Family of Organizations which includes Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies. Together, we work to ensure local leaders and communities have equitable access to the capital & opportunities they deserve. With a mission rooted in social impact, we support locally led solutions through our continuum of lending, impact investments, training programs, & technology programs. By joining our team, you will play a key role in how Momentus Capital is transforming the financial sector to help communities build health & generational wealth.

Position Summary

The primary role of the VP of Credit (“VP”) is to manage assigned Credit personnel and perform credit memorandum review. The individual will work in conjunction with the Head of Commercial Real Estate (CRE) for personnel oversight and compliance to both Small Business Administration (SBA) and non-SBA program requirements and for adherence to quality control. The VP will be accountable for the overall production of Credit personnel and responsible for the training, mentoring and continuing development of the credit staff. Additionally, the VP will ensure all fundamental file parameters are met and that each credit memorandum is produced in accordance with CDC Small Business Finance’s internal guidelines and SBA’s Standard Operating Procedures (for SBA 504 loans). The VP is responsible for development, refinement and implementation of company policies and procedures in accordance with SBA, internal guidelines and team oversight. The VP works in conjunction with the entire CRE Leadership team to promote quality loan production and maintain our integrity as a certified SBA Lender.

Essential Responsibilities

• Supervise and provide guidance for the daily activities of credit staff.

• Participate in weekly pipeline calls for each Pod and distribute workload to credit staff as needed.

• Coach and mentor each Credit Analyst on a quarterly, semi-annual, or annual basis as needed for continued professional development.

• Report department activities and issues to Head of CRE.

• Collaborate with Senior Credit Analyst(s) to train and mentor new employees.

• Provide review and commentary of credit memorandums completed by staff and provide the approvals needed for formal loan approval.

• Produce credit memoranda, when additional credit capacity is needed, according to the responsibilities outlined in the Credit Analyst job description.

• Facilitate credit department monthly meetings.

• Perform initial UCC searches on loans involving FF&E and relay results to staff so correct lien position can be noted in SBA loan authorization.

• Maintain knowledge, technical proficiencies and oversight regarding SBA 504 notices, SOP updates, Screen-outs and SBA’s Standard Operating Procedures.

• Manage SBA requirements of external Credit Committees including hosting semi-annual meetings, monitoring turn times, and adding or replacing members as necessary. This includes onboarding new credit committee members.

• Provide general support to Loan Officers and Loan Processors by answering questions related to workload distribution, credit quality and department capacity. Attend periodic Loan Officer Meetings and assist with prescreening of new loans in high-risk industries (hotels).

• Maintain and update credit policies as needed and in conjunction with Head of CRE.

• Participate and monitor internal, external, and regulatory audits of the CDC Application file including SBA PIIA, OCRM, and quality assurance audits. Coordinate necessary responses to CFR and PIIA audits with other 504 staff as needed and work with staff to resolve outstanding items.

• Assist with necessary responses to SBA screen outs and declines with 504 production teams.

Ventures +

• Develop and maintain Ventures+ documents and reports.

• Review pipelines on a regular basis for capacity purposes and monitor cycle times.

• Monitor matrix score averages on a quarterly basis and report to credit staff & Head of CRE.

Professional Skills, Education and Experience

• Minimum of 10 years of experience in SBA 504 lending is required.

• Bachelor’s degree or advanced degree in business, accounting, finance, or related field preferred. Education level will be considered on a holistic basis considering both education and work experience.

• Strong proficiency in a PC environment using Google, Microsoft Office, and Adobe Acrobat. Experience with CDC Ventures is preferred.

• Excellent organizational and time management skills with the ability to prioritize and remain organized.

• Strong written and verbal communication skills.

• Experience being flexible and navigating an agile working environment.

• Embrace and demonstrate inclusion as a personal value; understand that diversity and inclusion drive innovation and promote diversity in all areas managed.