Executive Director, Business Ownership Initiative (BOI)

The Executive Director is responsible for the organization’s overall day-to-day operations – budget performance, personnel management, etc. - and provides leadership, vision, and strategic direction. The Executive Director is responsible for facilitating a secure financial foundation for the organization through the growth of the microloan program, establishment and maintaining of BOI as a Community Development Financial Institution (CDFI), and the deployment of technical assistance to area small business owners and entrepreneurs. The Executive Director provides input to the BOI Board for the development and implementation of BOI’s programs, services, and metrics. This position provides a community leadership voice for small business owners and entrepreneurs and is a key partner in community development efforts.

Principal Accountabilities

• Analysis of Process: Initially, the Executive Director will evaluate current loan acquisition, loan approval, loan monitoring strategies, default rates and create a report that recommends appropriate short-term and longer-term enhancements for each. In addition, begin evaluations of the current 8-person team – their roles and performance.
• Strategic Plan: In collaboration with the SVP and others, create a strategic business plan and metrics for BOI that is aligned with the strategic vision established by the BOI Board of Directors and corrects issues identified in the analysis process. Submit the plan to the Board for advice and approval.
•  Implement Strategic Business Plan
• Pro-actively implement strategies to increase the quantity and quality of loans
• Grow and launch small businesses through technical assistance and micro-lending.
• Expand BOI’s presence as a trusted resource for clients and community partners (in the nine-county area), with a particular focus on diverse businesses and underserved populations.
• Develop and implement growth plan for micro-lending resulting in program sustainability (micro-lending)
• Review and strengthen existing credit policies.
• Manage loan portfolio to < 10% default rate.
• Maintain CDFI status and maximize its utilization for revenue and program growth.
• Develop and maintain relationships with other not-for-profits, business organizations, and community service providers to strengthen a robust referral network.
• Develop and implement capitalization strategy
• Lead BOI in grant writing and other fund-raising activities.
• Work with Indy Chamber CFO and SVP to create and manage annual operating and program budgets.
• Prepare monthly financial reports of the Treasurer of the BOI Board of Directors.
• Prepare reports on performance metrics for each meeting of the Board.

Preferred Qualifications

Must have an undergraduate degree, or 5-7 years of direct experience in finance and lending. Preferred majors include business, finance, marketing, accounting, or management. Graduate degrees are a plus.
Certifications related to the role.

Preferred Competencies

• Business Analysis: Demonstrated ability to analyze existing small loan policies and procedures that are not meeting existing performance expectations
• Business Leadership Effectiveness - Judgement: Demonstrated success in establishing a business plan that not only enhanced current programs and processes but also demonstrated a track record of leadership effectiveness - goal achievement.
• People Leadership Effectiveness: Proven success in recruiting, coaching and developing talent.
• Market Knowledge: Knowledge of business/financial issues small businesses face; of loan products available to small business demographics including startups, minority-owned businesses, and other underserved small businesses.
• Proven Record of Successful Fundraising
• Understanding of SBA Financing
• Successful Experience with Volunteer Boards, Media, Elected Officials
• Relationships In the Community: Familiarity with the Greater Indianapolis area - its business climate.
• Leadership – Turn around and growing a business
• Pro-Active Initiative
• Persuasiveness
• Verbal Communication Skills – One on one and also in group presentations
• Flexible – Nimble
• Work Well with A Minimum Of Supervision
• Financial and People Problem Solving Ability – Analysis and Judgement
• Culture Fit
• Planning and Organization Skills – Ability to Multi-task Without Losing Effectiveness

Working Conditions

Work is performed in an office environment or other business-type setting. Work is often conducted before, during, and after traditional business hours, 8:00 a.m. to 5:00 p.m.