Executive Director, Center for Economic Opportunity

Job Overview:

The IRC’s Center for Economic Empowerment (CEO) is a certified community development financial institution (CDFI) and 501c3 organization incorporated in 2011, and non-controlled subsidiary of the International Rescue Committee (IRC). CEO specializes in making small-dollar consumer and commercial loans to refugees, immigrants and other low-income individuals using a unique and robust all-virtual national business platform. CEO is customer-centered organization with a core value to protect and work to the interest of customers and to trust their willingness to repay. CEO has made over $35 million in loans to date and is actively working toward expanding scale and scope, with a 5-year vision of a $100 million portfolio. 

The Executive Director, Center for Economic Opportunity (CEO) is responsible for the stewardship, advancement, sustainability and management of the non-controlled subsidiary 501c3 organization CEO, and for its successful deployment as a tool for advancing newcomers towards financial inclusion positive economic outcomes. The Executive Director supervises a team of over 20 professionals who administer the lending and business operations of the CEO and is accountable for all aspects of the non-profit’s fiscal and legal compliance and financial health, supported by its Board of Directors. The Executive Director provides vision and direction in the development of partnerships and joint ventures with the IRC and other partners to develop innovative, evidence-based, cost-effective programs that increase financial capability and enhance the financial health of newcomer clients and communities  

Major Responsibilities:

Strategic Leadership 

• Develop, strengthen and bring to scale CEO’s business model and strategic plan, ensuring these remain fresh, relevant and on track.
• Foster an environment of innovation and creative solutions to serve customers and support partners’ products and solutions.
• Engage in strategic problem-solving with the CEO Board, IRC leadership, and partners within constraints of regulation, contracts, investors requirements, risk assessment.
• Oversee organizational strategy and policy to promote economic wellbeing of CEO customers in the US and to support IRC’s global economic wellbeing outcomes.

Business Operations

• Ensure and protect the fiscal health of IRC’s CEO, including balance sheet.
• Provide strategic management and oversight of CEO’s portfolio, managing risk effectively 
• Develop, in consultation with the CEO Board and appropriate stakeholders, appropriate policies and procedures for CEO operations, and ensure ongoing compliance.
• Direct, under the oversight of CEO’s Board, all aspects of the business operations, business development, infrastructure and customer support of the CEO including monthly credit report. 
• Ensure CEO regulatory compliance with state and local law where it operates and maintains its status as a certified Community Development Financial Institution (CDFI).
• Provide timely and accurate reports to CEO’s Board, donors, partners and other stakeholders.
• Motivate and retain high quality talent to drive innovation and scale.
• Develop policies, practices and partners that ensure CEO measures and monitors its impact on clients and communities.

External Relations 

• Direct CEO’s efforts to attract investment and cultivate donors and partners to maintain sustainable and diverse pools of capital and unrestricted funding.
• Represent CEO to external parties including donors, investors, partners and stakeholders.
• Advocate for systems change towards more fair financial systems.
• Engage in coalitions and partnerships to support access to credit and capital for newcomers and low-income communities.
• Responsible for CEO’s communications strategy, initiatives, collateral and infrastructure.
• Ensure consistent and effective support to both CEO’s B2B partners and to its borrowers.

Innovation and Technical Excellence 

• Drive adoption of innovative and state-of-the-art technologies and practices to increase efficiencies in business processes and enhance user experience with CEO’s customer-facing platforms.
• Liaise with external research institutions and communities of practice on financial inclusion.
• Spearhead engagement with partner to pilot new products to drive impact at scale. 
• Identify best practices and support scaling of successful financial capability, asset development, credit-building, micro-lending and microenterprise and related services.
• Leverage internal and external technical resources to expand IRC’s and CEO’s capability in delivering effective financial products and services to low-income clients.

Core Competencies:

The successful candidate in this position will possess:

• Superior leadership and communication skills with ability to motivate others.
• Deep commitment to the value financial inclusion and a just financial system.
• Strong understanding of the strengths, aspirations and experiences of refugees, immigrants and newcomers.
• Demonstrated drive for excellence and innovation.  
• Outstanding ability to think strategically and creatively.
  
   

Job Requirements:

• Masters/post-graduate degree in Business Administration, Finance or related field. 
• Minimum of 8 years of experience in micro-lending, loan portfolio management, underwriting and related financial services in the low-income market, with progressive levels of responsibility.
• Minimum of 3 years of experience in the management or operations of a CDFI.
• Demonstrated program development and management experience in the areas of financial education, asset development micro-lending or related programs.
• Demonstrated success in securing public and private funding 
• Demonstrated budget management and oversight experience with multi-million dollar budgets or assets.
• Strong organizational skills with ability to juggle multiple tasks, set priorities, effectively manage time and meet deadlines, and proven ability to work under pressure.

Working Environment: 

• This position requires occasional flexibility, after-hours demands and the ability to attend evening and weekend events, when needed. Up to 10-15% travel may be required.

Compensation: Posted pay ranges apply to US-based candidates. Ranges are based on various factors including the labor market, job type, internal equity, and budget.  Exact offers are calibrated by work location, individual candidate experience and skills relative to the defined job requirements.

Equal Opportunity Employer: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

US Benefits: The IRC offers a comprehensive and highly competitive set of benefits. All US employees are eligible for sick time, a 403b retirement savings plans: up to 4.5% immediately vested matching contribution, plus an 3-7% additional IRC contribution, and an Employee Assistance Program which is available to our staff and their families to support in times of crisis and mental health struggles.

In addition, full-time employees are eligible for 10 US paid holidays, 20-25 paid time off days, disability & life insurance, medical, dental, and vision insurance (employee contribution starting at $135, $7, and $5 per month respectively) and FSA for healthcare, childcare, and commuter costs. Part-time employees are eligible for a proportionate amount of paid time off. These additional benefits apply to employees who work at least 6 months within a 12 month time period. 
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