Careers
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See open positions below.
Unless otherwise noted, all interested applicants should send a cover letter and resume to admin@theinstitutenc.org.
Postings will remain open until positions are filled.
ORGANIZATION: The National Institute of Minority Economic Development
POSITION: Vice President of Finance
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:
This position is responsible for supporting the CFO in the management of the financial resources and the overall financial well-being of the National Institute of Minority Economic Development. In addition, the NIMED Vice President of Finance works collaboratively with the CFO, Senior Leadership, and Human Resources to enhance and better integrate finance, HR and IT functions. Responsible for all day-to-day NIMED finance operations, including but not limited to functional responsibility overseeing organizational budgeting and financial reporting. The VP will provide critical analysis to facilitate organizational growth goals and drive operational efficiency. This includes but is not limited to forecasting, cash management, audit, accounting, accounts payable and receivable, payroll and staff supervision activities. The VP will ensure that NIMED has the systems and procedures in place to support effective program implementation and clean audits. The VP of Finance will work closely with the program staff to monitor program financials and explore how the finance function can support program operations.
IN THIS ROLE, YOU WILL:
- Drive and manage the financial initiatives, budgeting processes, and KPI tracking of the Organizations.
- Establish systems to track financial results with an emphasis on KPIs, financial ratios, and industry performance benchmarking.
- Oversee the processing of payroll, payroll filings and maintenance of payroll records, taxes and retirement plans for programs and affiliates.
- Manage and monitor the organization’s cash flow and overall capital needs.
- Assist with HR compliance, onboarding, benefits assessments and policy implementation.
- Working collaboratively with CFO prepare the detailed annual operating budget with clearly articulated projections and sound financial assumptions. Present the budget to the Senior Leadership for review, then board approval.
- Develop, administer, monitor, and recommend improvements to internal financial policies and procedures to industry-leading controls and services. Continually focusing on implementation of strategies that recognize and mitigate financial risks.
- Manage accounts payable and receivable.
- Maintain daily cash schedule that includes minimum cash thresholds to meet operational needs and assist with cash flow forecasting.
- Oversee preparation of general ledger account analysis and reconciliations
- Prepare monthly financial reports.
- Present budget to senior leadership, and recommendations to the boards
- Direct and manage the NIMED finance team.
- Prepare and present quarterly, annual budget performance and other NIMED specific reports for the Senior Leadership.
- Perform monthly bank reconciliations for review by CFO.
- Direct, manage, and support the preparation and issuance of the annual audit.
- Attending meetings with external auditors to plan audits, provide auditors with requested reports and data in a timely manner, and provide other support as required to ensure a clean audit.
- Lead preparation of the Institute’s IRS Forms. Prepare required tax documents for review by CFO.
- Ensure the Institute complies with tax laws and regulations specific to that industry.
- Other financial responsibilities as assigned by the CFO, COO, or the CEO.
OTHER DUTIES
Other duties may be assigned based on the needs of the company in any department, as needed.
WE'D LOVE TO HEAR FROM YOU IF:
- Bachelor’s degree in business administration or accounting required, CPA preferred.
- Three to five years of professional experience as a Finance Director, Controller and/or senior financial officer or similar experience is required.
- In-depth knowledge of GAAP, Accounting and Auditing Standards, and Governmental Auditing Standards
- Possess knowledge of federal and state laws and compliance requirements
- Demonstrated experience in OMB Uniform Guidance
- Demonstrated non-profit financial management experience.
- Demonstrated experience managing a capital campaign.
- Ability to explain financial terms in simple language.
- Excellent computer skills with competencies in Excel, non-profit Accounting Software and Microsoft Office Suite applications is essential.
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: $95,000-$125,000,000 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 APoole@TheInstituteNC.org with e-mail Subject Title: Vice President of Finance - NIMED.
ORGANIZATION: The National Institute of Minority Economic Development
POSITION: Vice President of Finance
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:
This position is responsible for supporting the CFO in the management of the financial resources and the overall financial well-being of the Institute Capital. The ICAP Vice President of Finance works collaboratively with, Senior Vice President (SVP), Senior Leadership, and Business Development Officers to develop, recommend, execute financial strategies to secure the financial resources to achieve current and future goals. The VP will lead all day-to-day ICAP finance operations, including but not limited to functional responsibility overseeing organizational budgeting, financial reporting, Other Real Estate Owned (OREO) management, forecasting, loan loss reserve accounting, investment and cash management, loan management, audit, accounting, purchasing, and staff supervision. With the support of the SVP, the VP of Finance will ensure that ICAP has the systems and procedures in place to support effective program implementation and clean audits.
IN THIS ROLE, YOU WILL:
- Oversee the financial operations of the Community Development Financial Institution (CDFI) to ensure accurate and timely reporting.
- Drive and manage the financial initiatives, budgeting processes, and KPI tracking of the CDFI.
- Monitor the CDFI and lending industries to identify potential financial risks and conduct scenario planning to highlight implications for the budget.
- Establish systems to track financial results with an emphasis on KPIs, financial ratios, and industry performance benchmarking.
- Manage and monitor the organization’s cash flow and lending capital needs.
- Working collaboratively with Chief Financial Officer and SVP, Operations to prepare the detailed annual operating budget with clearly articulated projections and sound financial assumptions. Present the budget to the Senior Leadership for review.
- Develop, administer, monitor, and recommend improvements to internal financial policies and procedures to industry-leading controls and services. Continually focusing on implementation of strategies that recognize and mitigate financial risks.
- Prepare financial documents as needed for debt investment and grant proposals.
- Track and submit reporting as needed for funders.
- Manage accounts payable and receivable.
- Maintain daily cash schedule that includes minimum cash thresholds to meet operational needs and assist with cash flow forecasting.
- Oversee preparation of general ledger account analysis and reconciliations
- Prepare monthly financial reports.
- Present financial information to senior leadership and the board of directors
- Direct and manage the ICAP finance team.
- Prepare and present* quarterly, annual budget performance and other ICAP specific reports for the Senior Leadership and Board of Directors.
- Perform monthly bank reconciliations for review by CFO.
- Direct, manage, and support the preparation and issuance of the annual audit.
- Attend meetings with external auditors to plan audit, provide auditor with requested reports and data in a timely manner, and provide other support as required to ensure a clean audit.
- Lead preparation of the Institute’s IRS Forms. Prepare required tax documents for review by the CFO.
- Update and manage Other Real Estate Owned (OREO) to ensure a positive cash-flow for the organization. Monitor leases for renewal dates and notification periods.
- Support the development and implementation of an effective compliance program.
- Other financial responsibilities as assigned by the CFO, COO, or the CEO.
OTHER DUTIES
Other duties may be assigned based on the needs of the company in any department, as needed.
WE'D LOVE TO HEAR FROM YOU IF:
- Bachelor’s degree in accounting, finance and/or business administration required. CPA
- preferred
- Three to five years of professional experience as a Finance Director, Controller and/or
- senior financial officer or similar experience is required.
- In-depth knowledge of GAAP, Accounting and Auditing Standards, and Governmental Auditing Standards
- Possess knowledge of federal and state laws and compliance requirements
- Demonstrated experience in OMB Uniform Guidance
- Demonstrated knowledge and experience in lending operations and various loan servicing functions.
- Experience working at a financial institution, lending organization or large nonprofit strongly preferred.
- Strong financial planning and analysis skills.
- Ability to explain financial terms in simple language.
- Excellent computer skills with competencies in Excel, non-profit Accounting Software and Microsoft Office Suite applications is essential.
- Demonstrate ICAP's core competencies: Mission and values, standards of excellence, teamwork and collaboration, initiative and follow-through, customer focus and communication.
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: $95,000-$125,000,000 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 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 APoole@TheInstituteNC.org and RMcCullough@TheInstituteNC.org with e-mail Subject Title: Vice President of Finance - ICAP.
ORGANIZATION: The National Institute of Minority Economic Development
POSITION: Business Development Officer
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 Business Development Officer (BDO) 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 diverse- and women-owned businesses.
The primary role of the BDO includes relationship-based marketing of ICAP’s community-based lending products to referral sources, to include the other programs within the Institute family, and potential borrowers throughout ICAP’s geographic footprint. The BDO will also be responsible for performing thorough loan analysis and working directly with the loan support staff, serving as the liaison for the client. The BDO will coordinate marketing efforts for the designated region with Admin staff person of ICAP to ensure all marketing is timely and accurate. As part of the role, the BDO will be responsible for monitoring industry and compliance changes that may affect lending.
IN THIS ROLE, YOU WILL:
BUSINESS DEVELOPMENT AND MARKETING
· 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, financing options, in conjunction with communications staff, e-blasts and other appropriate outreach.
· Coordinate marketing activities with ICAP staff 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.
LOAN ORIGINATION
· Analyze loans initiated on the LoanWell platform and work with loan support staff by providing technical assistance to clients in LoanWell and communicate with loan processing/closing staff to ensure an excellent client experience.
· Serve as liaison between client and closing staff to ensure loans are closed in timeline addressing in ICAP Loan Guidelines.
OTHER DUTIES
Other duties may be assigned based on the needs of the company in any department, as needed.
WE'D LOVE TO HEAR FROM YOU IF:
- You like to work in a challenging and dynamic environment that can change and improve the lives of underserved communities.
- You possess a four-year Bachelor’s degree with at least 5 years of experience in lending, finance, community economic development or related experience.
- Experience in Word, Excel and PowerPoint applications preferred.
- Demonstrate ICAP's core competencies: Mission and values, standards of excellence, teamwork and collaboration, initiative and follow-through, customer focus and communication
- Excellent communication skills including: the ability to communicate clearly and effectively, including deveoping a clear message and presenting ICAP's products and programs to individuals and groups.
- Ability to write clearly and consicely, including translating financial and numerical data into written form.
- Ability to work effectively and cooperatively in teams.
- 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.
- 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.
- Strong self-motivation, a team player, and a quick learner
- Excellent verbal and written communication skills
- High integrity and confidentiality related to sensitive company and employee information
- Excellent organization skills, and the ability to prioritize and problem solve in a busy, fast-paced environment
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: $65,000-$80,000 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 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 with e-mail Subject Title: Business Development Officer - ICAP.