Jobs & Internships

Greater Minnesota Housing Fund has four job openings for two Loan Officers, a Loan Closer, and a Chief Operating Officer. Please check back regularly for new job openings.

Chief Operating Officer

Position Summary

The Chief Operating Officer (COO) is a management team member who works closely with and reports to the Chief Executive Officer (CEO). The COO provides a critical link among management team members and staff and facilitates effective internal communication, teamwork and a climate of mutual accountability and respect. The COO manages the organization’s day-to-day operations and project priorities, facilitates internal coordination, maintains accountability, and aligns human and financial resources to achieve organizational goals. The COO ensures that effective operating systems are implemented, critical management data are maintained, organized and accessible, information technology is optimized, and key management data and reports are produced to guide decision making and support board governance.

The COO maintains general oversight of organization work plans, ensures that programs and projects are implemented on deadline, and provides needed structure to personnel and workflow to ensure effective operations. The COO assists the CEO with board relations and management, community relations, interagency relations and manages internal staff dynamics to affect outcomes and strong working relationships. The COO helps to envision the future of the organization by setting near term and long-term goals, and/or identifying strategic opportunities, inspiring and taking action to achieve goals, and providing a strong day-to-day leadership presence that bridges all projects and all teams. In partnership with the CEO and management team, the COO leads the planning and implementation of new processes and systems to achieve strategic plan goals and manages the growth and operations of lending activities, Minnesota Equity Fund (MEF), NOAH Impact Fund, key programs, emerging opportunities, and other initiatives.

Core Functions of the COO

Organizational Leadership and Strategy

Working in partnership with the CEO, the COO leads the planning and implementation of new processes and systems to achieve strategic plan goals and manages the growth and operations of lending activities, Minnesota Equity Fund (MEF), NOAH Impact Fund, key programs, emerging opportunities, and other initiatives. The COO:

  • Maintains accountability among staff leadership, identifies resource needs, and facilitates changes to plans and assignments where needed.
  • Manages deadlines, evaluates and monitors program performance against annual goals, and prioritizes activities accordingly.
  • Leads weekly management team meetings, sets agendas, and manages follow-up activities.
  • Leads special projects directly as assigned and conducts other duties as assigned.

Operations

The COO ensures effective operations in a remote and hybrid work environment to optimize communication within staff teams and at management level utilizing technology effectively. The COO is responsible for:

  • Ensuring effective information technology including hardware, software systems, internet, and phones, coordination of outsourced vendors, ensuring optimal IT disaster recovery plans and cyber security in a remote and hybrid environment.
  • Office management including administrative functions, office space management, and general facilities.
  • Internal audit functions, determines audit areas, facilitates internal audits, and manages mitigating actions on audit findings.
  • Proper corporate board and staff liability, crime, and other insurance.
  • Effective communication and organizes, convenes, and facilitates key internal management, project, and program meetings as needed.
  • Development of annual operating and project budgets in line with the annual workplan, working in partnership with the CEO and management team.
  • Development and implementation of critical new and standard operating procedures to ensure effective systems and work process.
  • Management of fiscal sponsor services and ensuring coordination for fiscal sponsor organizational functions, such as fiscal sponsor agreements, budgets, employment, grant income, grantmaking and financial reporting. GMHF is the fiscal sponsor for the Heading Home Minnesota Funder’s Collaborative (HHMFC).

Human Resources

The COO is responsible for all aspects of human resources including hiring, employment policies, compensation model, employee health and retirement benefits, payroll, and training. Additionally, the COO:

  • Assists in defining the organizational structure, optimal staff roles, effective team composition, and proper distribution of assignments.
  • Assists with performance appraisals, promotions, discipline, hiring, and termination.

Programmatic Oversight

The COO is responsible for successful implementation and cross organization coordination of GMHF programs, initiatives, and special projects, including:

  • Emerging Developer of Color Program staff supervision.
  • GMHF grantmaking activities to support the funding needs of non-profit housing organizations.
  • Staff and board Policy and Program Review Committee agendas, reports and action items.

Fundraising and Communications Functions

The COO works closely with key staff to oversee GMHF grant writing and related planning functions and GMHF communications priorities and staffing. The positions that report to the COO in these operating areas include:

  • Director of Capital Development and Fundraising.
  • Housing Justice Communications Coordinator.

Board Governance

The COO is responsible for the overall planning and coordination of quarterly board meetings and monthly staff and board committee meetings including drafting agendas, identifying strategic discussion topics, facilitating preparation of board reports and resolutions and other materials to ensure corporate hygiene and governance protocols.

  • The COO plans and facilitates the annual board member term renewals and member recruitment in consultation with the CEO and board leadership.
  • The COO reviews organizational governance documents (e.g. Articles and Bylaws) to ensure they are current and relevant and that GMHF is in compliance.

Ideal Candidate

The ideal COO candidate will have demonstrated operational management and leadership experience, strong business management skills and will have successfully helped lead organizations through periods of growth. The ideal candidate will also possess:

  • Exceptional capacity for managing and leading other professionals, and effectively facilitating CEO and management priorities by navigating competing demands and organizational dynamics.
  • Proven interpersonal management skills, strong emotional intelligence, and positive and effective communication skills.
  • Motivated to work in a dynamic hard-working environment, able to effectively meet new challenges and evolving priorities.
  • Able to connect and communicate with individual staff and the larger team, be adept at ensuring accountability, and develop and empower top-notch leadership and entrepreneurship.
  • Able to clearly identify the strengths and weaknesses of the team, make appropriate assignments, and put employees in a position to succeed.
  • Possess a high degree of business acumen, balance delivery of programs and initiatives against budget and coordinate P&L management with team leaders and the CFO.
  • The candidate will have a strong understanding of and experience in affordable housing and community development lending.

Required Experience

  • 10 years organizational management and operations experience of complex and multi-faceted organizations.
  • Demonstrated ability to manage, organize and coordinate a high functioning executive management team and building and sustaining high trust working relationships.
  • Experience managing leadership teams composed of diverse internal and external stakeholders.
  • Ability to think strategically, anticipate future consequences and trends, and build organizational components to address dynamic circumstances.
  • Proven track record of problem-solving, adapting to changing circumstances, managing evolving priorities, and exceeding goals.
  • Evidence of making sound business decisions and drawing on analysis, good judgment, and life experience.
  • History of successfully managing business growth and aligning operations to support strategic priorities.
  • Ability to manage competing priorities and facilitate evolving demands among a professional team.
  • Proven track record in project management, administration, and financial management.
  • Broad experience with business functions, including development and planning, budgeting, business analysis, and information systems.
  • Knowledge and experience in banking and/or real estate development and finance.
  • Able to act and react as necessary, even if limited information is available.
  • A thorough understanding of finance, operating systems, and HR.
  • Excellent time management and organizational management skills.
  • Strong social justice values; mission driven.
  • Competent in latest office software; ability to learn additional core programs.
  • Excellent oral and written skills, meeting facilitation, and business negotiation skills. 

Equity and Inclusion

Greater Minnesota Housing Fund believes racial equity in housing is needed to correct historical racial disparities. Access to affordable housing improves life outcomes of individuals and families in areas of health, employment, educational attainment, income, and intergenerational wealth. We believe equitable access to safe and affordable housing is critical to moving to greater opportunity in  housing, health, employment, and income. GMHF is committed investing in emerging market communities to create a more equitable access to ownership of housing and other property.

To Apply Contact
Alexis Lancaster
Executive Assistant
alancaster@gmhf.com

Click here to download the Chief Operating Officer position description.

 

Loan Closer

Position Profile

The Greater Minnesota Housing Fund Loan Closer is responsible for closing loans and equity investments in affordable multifamily and single-family real estate developments. The Loan Closer works directly with other professionals, including legal counsel, real estate developers, lenders, and representative of other agencies and organizations in order to bring funded projects to closing.

The Loan Closer role requires knowledge of common affordable housing financing structures including Low Income Housing Tax Credits, tax-exempt bonds, Tax Increment Financing, and multiple public sources of deferred loans; and the Loan Closer must be able to close on loans for developments that include multiple sources of such financing. The Loan Closer reports to the Director of Lending and works closely with the Closing Manager and Lending Coordinator on a daily basis.

Position Responsibilities

Pre-closing Due Diligence
• Perform thorough review of the loan commitment and credit report to ensure the loan complies with final GMHF requirements.
• Work directly with borrowers and other partners to review, track, and prepare due diligence according to GMHF closing checklist such as:
o Settlement statements, title commitments, organizational documents, property survey, environmental reports, insurance policies, and UCC searches.
• Prioritize and monitor workflow to meet closing deadlines to facilitate timely and efficient review of documents.
• Prepare legal loan documents in coordination with GMHF attorneys and review for loan closing.
Closing
• Review and process loan closing package for loan execution.
• Prepare and process loan closing draws for loan disbursements.

Post-Closing
• Perform a post-closing review of executed closing documents to ensure the package is complete, accurate, and in compliance with regulatory requirements.
• Review all invoices for third-party fees and submit for payment.
• Facilitate timely hand-off of closed loans to asset management for ongoing monitoring.
• Work with the Lending Coordinator to process construction draws.
Loan Documentation
• Maintain loan financing records in accordance with GMHF record retention requirements.
• Organize drafts and final documents from pre-closing through the final closing to allow for efficient search and retrieval of items needing review and execution.

Other
• Other duties & responsibilities as assigned.

Desired Skills & Experience

Professional Qualifications
• Bachelor’s Degree or equivalent experience.
• 2 – 4 years of loan closing experience with affordable multifamily housing.
• Ability to understand and analyze legal documents associated with real estate sales and development.
• Analytical skills and attention to detail with strong housing finance knowledge is essential.
• Ability to plan, schedule, and prioritize responsibilities, work under pressure to meet strict deadlines, and consistently produce high quality work products.
• Ability to work both independently and collaboratively in a dynamic organization.
• Knowledge of affordable housing finance programs such as:
o state agency financing programs,
o federal low-income housing tax credits and tax exempt bonds,
o HUD and USDA-RD federally subsidized mortgage products,
o Freddie Mac and Fannie Mae affordable housing products.
• Proven track record of effective project management involving multiple objectives, stakeholders and programs.
• Proficiency in MS Office (word processing, spreadsheet, database, other applications).
• Experience with lending, banking, affordable housing and/or community development lending.

Personal Qualifications
• Personal maturity, highly professional social skills, ability to remain objective, rational and discrete in stressful situations such as business negotiations, resolving differences of opinion, completing complex transactions, and collaborating with multiple internal and external stakeholders.
• Interpersonal skills necessary to deal effectively with staff, funders, the public.
• Excellent oral communication skills, writing and publication skills.
• Passion for affordable housing, community development, social justice.

Equity and Inclusion

Greater Minnesota Housing Fund believes racial equity in housing improves life outcomes of individuals and families in areas of health, employment, educational attainment, income, and intergenerational wealth.  We believe equitable access to safe and affordable housing is critical to moving to parity in housing, health, employment, income, and other areas of life. We are committed making investments in emerging market communities to create a more equitable housing landscape.

To Apply Contact
Alexis Lancaster
Executive Assistant
alancaster@gmhf.com

Click here to download the Loan Officer position description.

 

Loan Officer

Position Profile

Greater Minnesota Housing Fund is looking for two Loan Officers, one located in greater Minnesota and one located in the metro.

The Loan Officer focused on business development plays a key role in the deployment of Greater Minnesota Housing Fund’s financing for affordable multifamily housing and provides technical assistance to developers and community partners engaged in advancing affordable housing solutions statewide. The Loan Officer primarily functions as GMHF’s origination staff member and is responsible for generating new loans and managing a loan pipeline from initial borrower contact through closing.  The Loan Officer must have experience working with multifamily proformas and may be asked to assist with other due diligence as needed. A successful Loan Officer has a passion for affordable housing and community development.

Position Responsibilities

Business Development – Primary Responsibilities

  • Originate and close approximately 10 multifamily loans per year.
  • Develop and maintain external relationships with industry partners, including real estate developers, public agencies, and community organizations as needed to successfully cultivate lending prospects and advance programmatic initiatives that advance GMHF’s strategic goals and priorities.
  • Conduct preliminary pro forma analysis to assess (1) project feasibility and credit quality; (2) conformance to GMHF’s existing loan products, policies, and underwriting standards; and (3) alignment with GMHF’s strategic priorities and charitable purpose.
  • Review initial due diligence items, such as purchase agreements, rent rolls, and development team experience.
  • Prepare project feasibility documentation, present, and obtain approval for preliminary loan commitments from the Credit Committee.
  • Ensure all necessary information and documentation is submitted to the underwriter and is recorded properly in electronic file format.
  • Coordinate with GMHF’s underwriter and loan closer to ensure timely and accurate approvals and closings of loans.
  • Represent GMHF at community events and workshops.

Underwriting Responsibilities

  • As needed, conduct detailed underwriting of projects from preliminary commitment to final approval, and assist in the resolution of potential issues in GMHF’s lending process.
  • Work closely with the underwriter to assist in the preparation of the written credit reports and present loan recommendations for review and final approval by applicable GMHF committees and the Board of Directors.
  • Perform technical assistance to borrowers, project partners, and other stakeholders as needed to overcome barriers to project success and/or timely completion.
  • As needed, review due diligence and legal documents prior to closing in conjunction with the Loan Closer, and review construction draws during the construction period, if any.
  • Coordinate with Asset Manager and Loan Portfolio & Data Analyst to facilitate compliance and performance of existing loans including proactive communication with borrowers to gather information and provide technical assistance, reviewing scheduled draws, coordinating loan modifications, debt restructuring, or other remedies as needed to achieve desired outcomes.
  • Perform other duties as assigned and required.

Desired Skills & Experience

  • Experience in multifamily development and finance, including ability to review proformas and size mortgages for existing apartments and new construction.
  • Experience in business development within the multifamily housing industry.
  • Strong preference for candidates who have experience with financing affordable housing using multiple funding sources, such as tax increment financing (TIF) and other local contributions; Low Income Housing Tax Credits (LIHTC); tax-exempt bonds; project-based rental assistance; and HUD, Rural Development, Freddie Mac and Fannie Mae loan products.
  • Demonstrated analytical and problem-solving skills in the context of complex real estate development and finance transactions.
  • Excellent oral and written communication skills.
  • Personal maturity, strong interpersonal skills, and proven ability to negotiate effectively and resolve conflicts professionally.
  • Ability to effectively organize competing work priorities under pressure to meet deadlines while maintaining high quality work products.
  • Ability to work both independently and collaboratively in a dynamic organization.
  • Ability to travel.
  • Proficiency in Microsoft Excel and Word.
  • 3 – 5 years of related professional experience.
  • Bachelor’s Degree in Business, Finance or Real Estate, or Equivalent Experience in affordable housing or real estate development.

Equity and Inclusion

Greater Minnesota Housing Fund believes racial equity in housing improves life outcomes of individuals and families in areas of health, employment, educational attainment, income, and intergenerational wealth.  We believe equitable access to safe and affordable housing is critical to moving to parity in housing, health, employment, income, and other areas of life. We are committed making investments in emerging market communities to create a more equitable housing landscape.

To Apply Contact
Alexis Lancaster
Executive Assistant
alancaster@gmhf.com

Click here to download the Loan Officer position description.

Colorful banner image featuring the skyline that you might typically see in a small city or town in Greater Minnesota.
MENU