The Associate Director helps lead a team that manages both the Small Business Credit Initiative and CornerSquare Community Capital across the state and within Truist Bank’s 17-state footprint, also helping to manage the relationships with participating community banks and Community Development Financial Institutions (CDFIs). The Associate Director will also help set policy and determine strategic direction in thought-partnership with the Executive Director.
Successful candidates will have significant financial, business development, and management experience. Interest and experience in the banking/CDFI sector is a plus. The candidate’s fit into our mission-driven culture with a passion for rural economic development is a top priority in the selection process.
Identify, secure, and maintain trusted partnerships with senior management (e.g. Presidents, Chief Operating Officers, Chief Lending Officers, Chief Credit Officers) of lenders in each of our focus areas
Engage partner lenders to maintain mindshare ensuring active program use
Conduct frequent outreach and training sessions for lenders
Attend and present at lender and small-business conferences
Assist in the management of the Capital Access Program, Loan Participation Program, and CornerSquare Community Capital
Manage ongoing loan participation opportunities, including vetting loan requests for structure compliance and credit risk, loan committee review, and commitments to lending partners
Assist in managing the portfolio of loan participations for timely servicing of principal and interest payments, and monitor risks for strategic use and establishment of loan loss reserves
Develop and manage a forward view of cash flow, including loan receipts, investment exits, and administration expenses, with a focus on balancing optimal fund deployment and liquidity
Establish and manage a robust system of financial and portfolio management software tools to ensure fiscal accountability and situational awareness
12+ years of experience with increasing responsibility in commercial lending, small business fundraising and/or financial management experience, or equivalent
Proven experience in leading business units, managing teams, and delivering strong
Bachelor’s degree in business, finance, or other comparable field required; master’s degree in business or related field desired
Ability to coordinate multiple competing priorities
Strong relationships with a network of bankers and financial service professionals
Proven business development capability
Excellent written and oral communication skills
Experience/knowledge of investment analysis with strong knowledge of financial concepts of ROI and IRR
Strong interpersonal skills and attention to detail; collegial and collaborative working style
Experience in nonprofit, community development finance, or mission-driven lending a plus
Compliance experience a plus
How to apply:
Prepare a cover letter and resume specifically tailored for this opportunity and email them as a Word or PDF document to firstname.lastname@example.org; the subject line of the email should include your name and the position title. Applications will be reviewed on a rolling basis and position will remain open until filled .
Additional Salary Information: The Rural Center offers excellent benefits and salary commensurate with experience. Benefits include health, vision and dental insurance, life and disability insurance, retirement contributions, holidays, paid time off. The Rural Center is an equal opportunity employer.
The NC Rural Center is committed to cultivating a workplace in which diverse perspectives and experiences are welcomed and respected. We are proud to be an Equal Opportunity Employer. We do not discriminate on the basis of race, color, religion, creed, ancestry, national origin, sex, age, disability, marital or veteran status, sexual orientation, gender identity, political ideology, or membership in any other legally protected class. We strongly encourage individuals with diverse backgrounds to apply.
About NC Rural Center/Cornersquare Capital
About the NC Rural Center:
For 30 years, the NC Rural Center has worked to develop, promote, and implement sound economic strategies to improve the quality of life of rural North Carolinians. The Rural Center serves the state's 80 rural counties, with a special focus on individuals with low to moderate incomes and communities with limited resources.
About CornerSquare Community Capital:
Launched in September of 2020, CornerSquare Community Capital (CSCC) is a nonprofit subsidiary of the NC Rural Center, an organization that has been working for more than 30 years to develop sound economic strategies to improve the quality of life of rural North Carolinians and individuals with low-to-moderate incomes. Building on the NC Rural Center's legacy of increasing capital access to those small business owners who need it the most, CornerSquare is designed to strengthen the lending infrastructure of Community Development Financial Institutions (CDFIs) by providing more equitable access to commercial capital for individuals who may face additional barriers, which includes women, people of color, and individuals of low-to-moderate incomes. Established from a founding contribution of $40... million by Truist, the bank that emerged from the SunTrust and BB&T merger, CornerSquare Community Capital purchases a portion of loans originated by participating CDFIs to eligible businesses, which decreases lending risk and allows CDFIs to make more loans to entrepreneurs.