Job Title: Vice President, Closing
Location: Washington, DC
Opportunity Finance Network (OFN) seeks a mission driven and experienced manager to join our expanding team as the VP, Closing. This is an expansion role that will manage the closing process for investments and grants made to OFN member mission driven community lenders (MDCL). The role is primarily responsible for overseeing the closing, disbursement, and onboarding processes for various financial transactions, including loans, investment, and grants. This role is also responsible for managing staff.
OFN is the nation’s leading investment intermediary and network CDFIs serving rural, urban, and Native communities across the United States. With over $1 billion in total assets under management, OFN manages a national membership network of over 410 mission-driven lenders and CDFIs, including community development loan funds, credit unions, green banks, community development banks, minority depository institutions, and venture capital funds. OFN is a trusted investment partner to the public, private, and philanthropic sectors – foundations, corporations, banks, government agencies, and others. For more than 30 years, our team has helped partners invest in communities to catalyze change and create economic opportunities for people and places traditional finance doesn’t reach.
To learn more, visit www.ofn.org
People who work at OFN come from a variety of professional and academic backgrounds. If you have:
- Passion for the mission and true believer in our core purpose.
- Courage to be a fearless advocate who is confident and resilient in our fight to drive capital into low-income communities.
- Smart, quick seekers of knowledge who thrive on creating and developing new strategies, products, and programs for increasing capital to communities we serve.
- Desire to be a collaborative team player who possesses humility and a willingness to lean in all areas of our work.
Come be a part of our growing diverse, highly committed, skilled, and collaborative staff. At OFN, we are dedicated to building a diverse, inclusive workplace, so if you are excited about this role but your experience does not align perfectly with every qualification, we encourage you to apply nonetheless. You may be the right candidate for this or other roles.
This position is based in Washington, D.C. All staff currently work a hybrid schedule.
Core Responsibilities:
- Oversee and provide leadership and guidance to a team of closing specialists.
- Oversee performance of the closing, disbursement, and onboarding of on and off-balance sheet financial transactions to MDCLs.
- Ensure the closing process complies with regulatory and internal guidelines and policies.
- Review legal documents for financial transactions, including promissory notes, credit and grant agreements, security agreements, and other legal documents, to ensure accuracy and completeness.
- Resolve legal documentation negotiations elevated by closing specialists.
- Develop and implement efficient onboarding processes for new loan, investment, and grant recipients ensuring a smooth transition and adherence to all legal, regulatory and programmatic requirements.
- Review and approve disbursement requests for funds to MDCLs and ensure accurate and timely processing. This includes review of wire transfer forms, onboarding sheets and loan and grant management systems.
- Oversee the maintenance of accurate and organized records of all transaction-related documentation, ensuring compliance with retention policies.
- Identify areas for process improvement and efficiency enhancement, implement best practices, and streamline workflows to maximize productivity and effectiveness.
- Work with counsel to develop and update legal document templates for financial transactions.
- Prepare regular reports and analysis on transaction activity, status, and performance metrics for senior management review.
- Stay updated with industry trends, regulations, and best practices related to loan, investment and grant transactions, and apply them to improve processes and ensure compliance.
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