Careers

Job Title:Chief Financial Officer

Team: Fiscal

Location: Durham, NC

Reports to: President & CEO

Direct Reports:Vice President of Finance, Assistant Controller & Accounting Associate

Work Schedule: Full-Time (40 hours per week)

FLSA Status: Exempt

ABOUT THE NATIONAL INSTITUTE OF MINORITY ECONOMIC DEVELOPMENT:

The National Institute of Minority Economic Development exists to strengthen the asset base of diverse populations through policy, education, and economic opportunities. We do this by helping diverse small businesses, HBCUs, and nonprofit organizations to grow, thrive, create jobs, become sustainable, and be valued partners within their local communities. Our vision is economic prosperity for diverse populations and an environment in which race, gender, and geography are no longer a barrier to economic opportunity and prosperity. Our core values are trust, excellence, innovation, and collaboration. We believe that all people should have equal opportunity to participate in and contribute to our economy and civic life.

ABOUT THIS ROLE:

The Chief Financial Officer (CFO) is responsible for the strategic oversight and management of the organization's financial health, ensuring long-term sustainability and operational excellence. This role oversees all financial planning, budgeting, accounting, reporting, and compliance functions while providing strategic financial guidance to the President & CEO, Board of Directors, and key stakeholders. The CFO will work collaboratively with the executive leadership team to drive financial efficiency, optimize resources, and support the organization's mission and growth objectives.

IN THIS ROLE, YOU WILL:

Strategic Financial Leadership & Planning

• Develop and implement financial strategies aligned with the organization's mission and long-term goals.
• Advise the President & CEO and Board of Directors on financial matters, ensuring informed decision-making.
• Provide financial forecasting, risk assessment, and scenario analysis to support strategic planning.
• Ensure compliance with all regulatory, legal, and tax requirements.

Financial Operations & Reporting

• Oversee and manage all aspects of financial operations, including accounting, budgeting, reporting, and internal controls.
• Ensure the accurate and timely preparation of financial statements in accordance with GAAP (Generally Accepted Accounting Principles).
• Maintain and improve internal financial controls to mitigate risk and enhance efficiency.
• Prepare and present financial reports to the Board of Directors, finance committee, and executive team on a quarterly and as-needed basis.

Budgeting & Resource Management

• Develop and monitor annual budgets for the organization, including individual programs, grants, and new initiatives.
• Oversee cash flow management, investment activities, and financial sustainability strategies.
• Lead efforts to optimize financial resources while ensuring fiscal discipline and accountability.

Audit, Compliance & Risk Management

• Serve as the primary liaison with external auditors to ensure a smooth and timely annual audit process.
• Oversee financial compliance with federal, state, and local regulations, as well as grant and donor requirements.
• Assess financial risks and develop strategies to mitigate them effectively.

Collaboration & Leadership

• Partner with the HR Director on employee benefits, payroll, and financial aspects of human resources management.
• Work closely with program directors and leadership to ensure financial sustainability and compliance with funder requirements.
• Track and analyze key financial KPIs and trends to drive strategic decision-making.

WE'D LOVE TO HEAR FROM YOU IF:

• Proven experience as a CFO, preferably within a non-profit organization.
• Bachelor’s degree in accounting, finance, business administration (MBA preferred).
• Certified Public Accountant (CPA) designation (required)
• 5-10 years of progressive financial management experience, with a focus on non-profit accounting and compliance.
• Strong understanding of GAAP, internal controls, and financial reporting for non-profits.
• Demonstrated experience managing a capital campaign
• Demonstrated experience in financial planning, budgeting, forecasting, and risk management.
• Proficiency in non-profit accounting software (e.g., SAP, Blackbaud) and advanced Excel skills.
• Excellent communication skills, with the ability to translate complex financial concepts into clear, actionable insights for leadership and staff.
• Experience managing finances for a Community Development Financial Institution (CDFI).
• Familiarity with grant and donor fund accounting principles.
• Experience in Real Estate, Affordable Housing, and/or Community Development. (preferred).
• Experience with federal, state, and local government funding. (preferred).

YOU CAN EXPECT:

• Starting salary range: $125,000-$175,000 based on education and experience.
• A compassionate and supportive work environment.
• A competitive benefits package including paid time off and sick leave, health and dental insurance, life insurance, and the option to participate in a 403b retirement plan with employer match.
• A background check conditional for job offer. Must satisfactorily pass a national service criminal history check that includes national sex offender registry, State Police, and FBI checks.
• The Institute is an equal opportunity employer.

HOW TO APPLY:

For consideration, interested candidates must submit a cover letter and resume. Cover letters must address candidate experience and qualifications being sought. All materials should be sent to HR@TheInstituteNC.org with e-mail Subject Title: Chief Financial Officer

The National Institute of Minority Economic Development, its Affiliates, and Subsidiaries provide equal employment opportunities to all employees and applicants without regard to race, color, religion, national origin, ancestry, gender, sex, gender identity or expression, age, medical condition, sexual orientation, marital status, citizenship, pregnancy, physical or mental disability, genetic information, veteran status, military status, caregiver status or any other characteristic protected by federal, state or local laws.

ORGANIZATION: The National Institute of Minority Economic Development

PROGRAM: Institute Capital

POSITION: Commercial Loan Officer & Business Development

ABOUT THE NATIONAL INSTITUTE OF MINORITY ECONOMIC DEVELOPMENT:

The National Institute of Minority Economic Development exists to strengthen the asset base of diverse populations through policy, education, and economic opportunities. We do this by helping diverse small businesses, HBCUs, and nonprofit organizations to grow, thrive, create jobs, become sustainable, and be valued partners within their local communities. Our vision is economic prosperity for diverse populations and an environment in which race, gender, and geography are no longer a barrier to economic opportunity and prosperity. Our core values are trust, excellence, innovation, and collaboration. We believe that all people should have equal opportunity to participate in and contribute to our economy and civic life.

ABOUT INSTITUTE CAPITAL (ICAP):

Institute Capital provides debt and investment capital to affordable housing developers, community-based development organizations (CBDOs) and small businesses. Our goal is to revitalize and transform diverse communities through affordable housing, entrepreneurship, HBCU collaborations and community development.

As a certified Community Development Financial Institution (CDFI), Institute Capital seeks to provide high-impact lending to borrowers who cannot typically get capital from mainstream financial institutions, and who are working to create thriving economies in communities that represent the most diverse populations.

ABOUT THIS ROLE:

The Commercial Loan Officer (CLO) is responsible for developing and leading Institute Capital’s (ICAP) small business lending market and affordable housing project lending. The market includes for-profit businesses, community-based non-profit organizations, and affordable housing developers, with a targeted effort to minority, women-owned, and rural businesses. The primary role of the CLO includes relationship-based marketing of ICAP’s community-based lending products to referral sources, including the other programs within the Institute family and potential borrowers throughout the Greater Raleigh/ Durham Area. The CLO will also perform credit analysis, work directly with the Senior Credit Officer on loans, and present their loans to the Internal Credit Committee (ICC) and Board Loan Committee (BLC) as appropriate. The CLO will coordinate marketing efforts for the designated region with the Senior Vice President of Operations to ensure all marketing is timely and accurate.

PRINCIPAL DUTIES AND RESPONSIBILITIES:

• Perform credit analysis on loan applications received through ICAP’s web-based loan platform for funding consideration, working directly with Senior Credit Officer to ensure loans are well-prepared for credit committee presentation.
• Provide excellent customer service, including prompt responses, basic technical assistance, and referrals to internal technical assistance programs as appropriate.
• Follow through with closing team directly after loan approval to prepare Summary of Loan Terms (SOLT) for client to initiate process and ensure a timely loan closing.
• Market ICAP’s loan products to referral sources and potential borrowers through activities including 1-on-1 meetings, presentations on such topics as financial management and financing options, in conjunction with communications staff, e-blasts and other appropriate outreach.
• Coordinate marketing activities with SVP, Operations to reach potential clients through social media outlets and other community relationships, as well as Institute programs.
• Work with ICAP admin staff to enhance and update an internal referral process for other Institute programs.
• Manage existing and build new partnerships that further ICAP’s business lending goals.

Perform other ICAP related duties deemed necessary.

KNOWLEDGE, SKILL, AND ABILITY:

• Demonstrate ICAP's core competencies:
  • Trust
  • Excellence
  • Innovation
  • Collaboration
• Excellent communication skills including:
  • Ability to communicate clearly and effectively, including developing a clear message and presenting ICAP’s products and programs to individuals and groups.
  • Ability to write clearly and concisely, including translating financial and numerical data into written form.
  • Ability to build effective business development networks that lead to loan deal flow and closed loans, while building long-term collaborative relationships with organizational partners and stakeholders.
  • Ability to work effectively and cooperatively in teams.
  • Proficiency with MS Word, Excel, and PowerPoint.
  • Experience with Salesforce a plus.
  • Sensitivity to issues of low-wealth borrowers and a desire to work in a racially and socially diverse organization.
  • Ability and willingness to travel within the Institute’s geographic footprint as job requires, including many day trips and some overnight travel.

WE'D LOVE TO HEAR FROM YOU IF:

In addition to a proven track record above, the successful candidate must meet the following minimum qualifications and experience requirements:

• Bachelor’s degree in finance, Business Administration, Economics, or a related field.
• Minimum of five years of experience in commercial lending or related financial services, preferably within a community development or CDFI setting.
• Strong understanding of financial analysis, credit risk assessment, and loan structuring.
• Proven track record of business development, client relationship management, and loan portfolio management.
• Excellent communication skills with the ability to effectively engage and negotiate with diverse stakeholders.
• Valid driver's license and willingness to travel within the Greater Raleigh/Durham area and beyond as needed. Including many day trips and some overnight travel.
• Additional experience in community and economic development initiatives is highly desirable.

PHYSICAL REQUIREMENTS/WORK ENVIRONMENT

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Close vision is required.
• Employees must be licensed drivers and have regular access to an automobile.
• Employees are regularly required to: sit; talk and hear; use hands to finger, handle or feel; and reach with hands and arms.
• Employees are frequently required to type and use a keyboard.
• The employee must occasionally lift and/or move up to 10 pounds.

YOU CAN EXPECT:

• Starting salary range: $70,000 - $75,000 based on education and experience plus commission.
• A compassionate and supportive work environment.
• A competitive benefits package including paid time off and sick leave, health and dental insurance, life insurance, and the option to participate in a 403b retirement plan with employer match.
• A background check conditional for job offer. Must satisfactorily pass a national service criminal history check that includes national sex offender registry, State Police, and FBI checks.
• The Institute and Institute Capital is an equal opportunity employer.

HOW TO APPLY:

For consideration, interested candidates must submit a cover letter and resume. Cover letters must address candidate experience and qualifications being sought. All materials should be sent to RMcCullough@TheInstituteNC.org and hr@theinstitutenc.org with e-mail Subject Title: Commercial Loan Officer & Business Development - ICAP