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Great job opportunity – operations manager for small business loan fund in Missoula, MT

MCDC is recruiting an Operations Manager to oversee business lending day-to-day at MCDC. Information on the job and how to apply is attached here. Can you help us by passing this email along to your colleagues?

The Operations Manager is a key position reporting directly to the Executive Director. The work includes: underwriting and processing loans for customers; monitoring the performance of loans on the books; lending staff management; and program planning, budgeting and management. We seek a candidate who enjoys the puzzle of organizing a complex lending process so that the team can perform at its best while the customer gets great service.

The ideal candidate is very familiar with business financing, and also has a proven track record of supervision and program management. The financing knowledge can come from experience in commercial lending, or from direct experience in setting up financing for a business. However, we are willing to train a candidate who has had signifcant responsibility for tracking and managing financial performance in small businesses. The management experience can come from significant supervisory experience, division management, or small business management.

The MCDC loan fund expects to experience significant growth in the next five years, at least doubling its current $5 million capital base, and reaching a level of annual lending of approximately $3 million per year. To accomplish this growth we need a systems-oriented, entrepreneurial person leading our lending team.

We welcome inquiries to learn more about MCDC or this job, at 406-728-9234 X 205. Our website is http://www.mtcdc.org.

Thanks for your help!

Rosalie Sheehy Cates
Executive Director
Montana Community Development Corporation
110 East Broadway #200
Missoula MT 59802
406-728-9234 X 205

Helping Montana businesses reach the next level

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MCDC Operations Manager

The position

The Operations Manager is a key senior position that oversees the day-to-day operation of MCDC’s core business of small business lending. This includes: underwriting and processing loans for customers; monitoring the performance of loans on the books; overall portfolio management; lending staff management; and program planning, budgeting and management. The Operations Manager reports directly to the Executive Director.

We seek a candidate who enjoys the puzzle of organizing a complex lending process so that the team can perform at its best while the customer gets great service. The ideal candidate is very familiar with business financing, and also has a proven track record of supervision and program management. The financing knowledge can come from experience in commercial lending, or from direct experience in setting up financing for a business. However, we are willing to train a candidate who has had signifcant responsibility for tracking and managing financial performance in small businesses. The management experience can come from significant supervisory experience, division management, or small business management.

The MCDC loan fund expects to experience significant growth in the next five years, at least doubling its current $5 million capital base, and reaching a level of annual lending of approximately $3 million per year. To accomplish this growth we need a systems-oriented, entrepreneurial person who can focus the strength of our lending team on making loans, and on achieving the best internal systems possible for efficiency, good customer service, and high community value.

A detailed description of job content follows.

The company and the loans we offer
MCDC is a non-profit loan fund and business development service. We make small business loans in situations where bank financing doesn’t fit, and we work one-on-one with business owners who are trying to improve their company’s performance. The goal of this work is to create quality businesses with good employment opportunities for working people in western Montana communities. Our work is grounded in a vision of creating a “regional opportunity economy” which is deeply entrepreneurial and strongly supportive to all members of the community.

MCDC’s Revolving Loan Fund is capitalized at $5 million, derived from both public and private investments. The fund makes commercial loans and microloans to small businesses engaged in widely varying enterprises including retail, light manufacturing, service and some agriculture.

MCDC makes loans that would generally not meet commercial bank underwriting standards, most often because of weak collateral and/or equity levels. We take added credit risk to achieve the community development mission that our funders have invested in. Because of the credit risk, our underwriting process requires a comprehensive assessment of the borrower’s condition from financial, market, management and operations standpoints. The loan package is developed in cooperation with the borrower, and often requires 4-12 weeks of development. The close relationship continues as MCDC monitors the credit over the life of the loan.

MCDC’s $5 million dollar fund has $2.7 million in loans outstanding and loan volume was $1.5 million last year. In June of 2005, MCDC also launched The Montana Fund, a quasi-equity loan product. A total of $750,000 has been invested to date. The Montana Fund loans are underwritten and monitored by the Business Development Manager.

A board of directors from the service area governs the organization. A total of nine employees make up the staff. Operations at MCDC are funded by a combination of long-term government grants, loan revenues and foundation grants. The 2006 operating budget is over $1,000,000.

MCDC is a fun, progressive place to work. The work atmosphere is informal and flexible, but the standards for work quality are very high. The values that guide MCDC staff include passionate leadership, dignity, effective community building, learning & building expertise, and ethical accountability. Staff members participate strongly in all aspects of program development and implementation.

To learn more and to apply

This is unique position for an entrepreneurial and community-minded individual. You will find detailed information about our organization and it’s loan programs online. We are also happy to discuss MCDC and this job with you, and welcome your email or phone call to learn more.

To be considered for this position, please send:
Resume including salary history;
Professional reference list with contact information;
Very important – a letter that explains:
How you feel that you can tailor your experience to MCDC’s loan program;
Your interest in a job that builds opportunities in the community for people of all income levels;
Your approach to supervision and program oversight.

If you become a candidate, we will also ask for your permission to check your credit history and to contact your references.

For electronic submission (in Word or PDF format only) please e-mail Mica Lindsey at [email protected]. You may also mail the materials, attention Mica Lindsey, to the MCDC address below.

Montana Community Development Corporation
110 East Broadway #200
Missoula MT 59802
406-728-9234
http://www.mtcdc.org

Job Description

Position: Operations Manager

Classification: Full time exempt

Reports To: Executive Director

Salary: $40,000 to $50,000 DOE. Bonus plan.

Benefits: Health insurance plan, paid vacation, sick leave and holidays, contribution to Simple IRA, and flexible benefits plan.

Position Summary: The Operations Manager is a key senior position which reports directly to the Executive Director. The person manages the day-to-day operation of our core business of small business lending. This includes loan production and monitoring; portfolio management; and budgeting and financial management.

Job Duties:

Strategic Leadership

Represent the operations function in organizational strategic planning.
Lending Program Management
Develop annual lending work plan in cooperation with Business Development Manager, with loan volume goals, portfolio quality goals, budget and action steps.
Implement work plan with MCDC Lending Team.
Provide work plan progress reports as needed for MCDC staff and board.

Lending Team leadership

Assist lending staff members to develop goals and standards to achieve the annual workplan.
Supervise lending team members including regular progress meetings, coaching, and documentation of employee performance.
Manage weekly lending meeting.
Loan Portfolio Management
Monitor the financial performance of MCDC’s loan funds against annual lending work plan goals, and prepare reports as needed for MCDC staff and board
Lead and monitor portfolio quality activities by Lending Team, including file reviews, borrower site visits, and plans of action for problem loans.
Insure that the policies and procedures for underwriting, portfolio management and receiving investments are effective, up-to-date and in compliance with funder requirements.
Oversee completion of required funder reports by the Loan Administrator.
Oversee data collection related to loan funds in Webcats and in portfolio impact databases.

Loan production

Oversee Loan Officer in production of loans.
Underwrite loans and prepare loan proposals for committee.
Work with Business Development Manager as needed to complete lending marketing activities to implement lending work plan and MCDC marketing plan.

Skills and Qualifications:

Business financing knowledge:

Two years commercial lending experience (preferred); or,
Demonstrated knowledge of business financing through track record of achieving financing in a small business; or,
Significant responsibility for tracking and managing small business financial performance.

Demonstrated ability to build and manage service systems, preferably through two years experience as a manager or owner of a company having significant responsibility for production, service systems, or processes.

Two years significant supervisory experience.

Knowledge of loan portfolio standards preferred. May demonstrate financial management skills attained through small business financial management.

Degree in business or finance preferred.

Commitment to using capital to help people and communities in need in western Montana.

Interest in innovation in loan products and delivery systems.
Demonstrated interest in community activities and/or economic development.

Proficiency in MS Office programs required, and experience in automated network setting preferred.

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