Director of Credit and Risk Management

3 weeks ago

Washington, Washington, D.C., United States Washington Area Community Investment Fund Full time
Job Description

The Washington Area Community Investment Fund (Wacif) is seeking a seasoned professional to lead its credit and risk management functions. As the Director of Credit and Risk Management, you will be responsible for developing and implementing lending policies, ensuring compliance with regulatory and internal risk management frameworks, and aligning risk strategies with the organization's goals.

This role requires a strong understanding of credit risk management, underwriting, and lending in the Community Development Finance Institution (CDFI) sector. You will work closely with the CEO, Chief Financial Officer (CFO), and Management Information Systems (MIS) team to manage portfolio performance, maintain appropriate risk tolerance, and support strategic growth initiatives.

The Director will oversee the credit operations, ensuring the timely and effective underwriting, approval, and disbursement of loans, in alignment with Wacif's mission while mitigating risk. You will also develop and implement robust credit policies and procedures that align with CDFI industry standards and the organization's mission.

Key responsibilities include:

  • Developing and implementing lending policies and procedures
  • Ensuring compliance with regulatory and internal risk management frameworks
  • Aligning risk strategies with the organization's goals
  • Overseeing credit operations, including underwriting, approval, and disbursement of loans
  • Developing and implementing robust credit policies and procedures

Requirements:

  • Bachelor's degree in finance, accounting, economics, business, or a related field
  • 7+ years of experience in credit risk management, underwriting, and lending in the CDFI sector
  • Experience working with SBA Programs such as SBA7a, Microloan, SBA Express, and Community Advantage
  • Proven track record of managing credit and risk functions, including policy development and regulatory compliance
  • Proven ability to develop and implement risk management strategies while advancing organizational goals

Benefits:

  • Competitive salary commensurate with experience
  • Medical, Dental, Vision, HSA, FSA, DCA, Life & Disability insurance coverages
  • 401(k) retirement plan (employer matching contribution eligible)
  • Paid time off (increased with tenure), paid holidays and sick leave days, transportation benefits, and education assistance benefits

About Wacif:

The Washington Area Community Investment Fund (Wacif) advances equity and opportunity in the Washington, D.C. area's underserved communities by providing financial capital, business advisory services, and strategic networking support to underinvested entrepreneurs. Since its inception in 1987, Wacif has deployed more than $100 million in capital, served more than 4,500 entrepreneurs with business advisory services, and helped create or retain more than 44,000 local jobs.

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