Vice President of Credit

Vice President, Credit

Employee Status: Full Time, Exempt

Salary: Grade 10

Starting range of $175,000 – $227,000 | Chicago | Detroit | Milwaukee

Starting range of $160,000 – $210,000 | Ohio | Missouri | Indiana | Grand Rapids

Reports to: Chief Business Officer

Department: Capital Solutions

Location: Any IFF Office

Hybrid: In office: T/W | WFH: M/Th/F

Capital is a critical resource that's often beyond the reach of nonprofits serving communities with limited resources. IFF works hard to change that. For more than 30 years, IFF has specialized in flexible lending products that help nonprofits achieve their growth goals and best serve their communities. IFF's clients include human services agencies, supportive housing providers, schools, health clinics, arts organizations, community centers and a full spectrum of other nonprofit organizations. Racial inequality in property values still exists today. IFF takes a different approach to underwriting that isn't limited by appraisals, but instead is informed by a deep understanding of nonprofit operations and the importance of nonprofit facilities to communities. IFF provides lending to our clients uniquely designed to serve nonprofits with no appraisals on commercial projects, as low as five percent up front, and long-term loans with no prepayment penalties. Loans can be used for acquisition, facility improvement, equipment and vehicles, and affordable housing. Capital Solutions is part of IFF's Core Business Solutions which is a cross-cutting team that sits at the nexus of nonprofits, communities, and IFF technical knowledge. The group provides thought leadership and expertise to drive corporate strategy across markets. The primary business units in Core Business Solutions are Capital Solutions, Real Estate Solutions, Community Development Solutions, Home First, and Legal.

IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Across the Midwest we help clients from every sector, including human service agencies, health centers, schools, affordable housing developers, and healthy food grocery operators. Staff contribute extensive business experience and an unrivaled connection to the mission of IFF to the clients we serve.

Partnering to create thriving communities is at the heart of everything we do. We leverage knowledge, capital, and resources to advance equitable and transformational outcomes in under-resourced communities, guided by our commitment to be an inclusive, anti-racist and anti-oppressive institution that honors communities as asset-rich and as experts in their own stories.

Basic Job Function

This VP of Credit position is intentionally structured to operate as a thought partner and facilitator, rather than a traditional credit gatekeeper.

The VP of Credit will work closely with lending teams to:

• Bring structure and clarity to decision-making
• Support teams in navigating complexity
• Enable forward momentum on deals where appropriate

The role balances strategic oversight with hands-on engagement, requiring responsiveness across both high-level decisions and day-to-day credit needs.

IFF is looking for candidates with a commitment to the work we do who can demonstrate their creativity, diligence, enthusiasm, growth-mindset, thoughtfulness, and passion to make meaningful change in the areas of economic and racial justice.

Core Responsibilities:

Credit Leadership & Governance – The VP, Credit provides leadership and structure for credit decision-making across the organization.

1. Lead the internal credit committee, facilitating balanced, timely, and well-informed discussions.

2. Primarily responsible for structuring the credit review of $1B of originations over the next five years. Maintains the health of $1B assets under management through credit review of modifications.

3. Own and maintain credit policy to ensure alignment with organizational strategy, risk appetite, and Board-level approvals.

4. Develop and refine the following-

• Credit Memo templates
• Underwriting standards and guidance
• Evaluation and approval processes

5. Ensure consistency, clarity, and discipline across credit practices.

6. Identify opportunities to improve efficiency and transparency in credit workflows.

Deal Engagement & Credit Decisioning – Act as an active partner in the evaluation and structuring of transactions.

1. Serve as a decider within the RAPID framework for credit decisions, with lenders acting as recommenders.

2. Engage directly in complex, nuanced, or non-standard deals to support structuring and risk assessment.

3. Provide guidance to help teams navigate challenges and efficiently move viable deals forward.

4. Articulate and apply an appropriate risk appetite aligned with IFF's credit philosophy.

5. Support both large, strategic transactions and smaller, time-sensitive credit decisions.

Partnership & External Engagement – Support Relationship building and external presence in alignment with lending strategy

1. Build and maintain relationships with borrowers, partners, and key stakeholders.

2. Participate in site visits and in-person engagement for active or prospective deals.

3. Maintain an external presence (~15%) to strengthen market insight and relationships.

4. Contribute to a client-oriented, relationship-driven approach to lending.

Cross-Functional Alignment & Lifecycle Management – Ensure seamless coordination across the full lending and relationship lifecycle.

1. Partner closely with-

• VP of Originations (pipeline, structuring, approval, and closing)
• VP of Client Management (construction loan administration and portfolio management)
• VP of Operations (process improvement and compliance)

2. Create clarity around roles, responsibilities, and handoffs between teams.

3. Ensure alignment between deal intent at origination and execution post-closing.

4. Support organizational visibility into portfolio performance and key risks.

5. Contribute to broader strategy by identifying trends, challenges, and opportunities within the portfolio.

Leadership and Cultural Expectations

1. Maintain approachable, steady, and relationship-oriented leadership style

2. Operate with low ego and a strong sense of ownership

3. Bring structure and clarity without rigidity

4. Lead with patience and sound judgment, particularly in complex or ambiguous situations

5. Act as a connector across teams, fostering alignment and collaboration

6. Navigate ambiguity and system building in real time

7. Contribute and lead as a positive cultural influence and IFF

8. Demonstrates a commitment to equity, diversity, and inclusion. Promotes an environment of empathy and respect, ensures the inclusion of all team members, and will actively engage in EDI events and learning opportunities.

Note: No job description can be entirely comprehensive, and the jobholder will be expected to carry out such other duties as may be required from time to time and are broadly consistent with the job description and status of the position within the organization.

Performance Measures:

1. Credit decisions are clear, timely, and well-structured.

2. Lending teams feel supported and empowered to move deals forward.

3. Credit policy and processes are consistent, practical, and adhered to.

4. Complex deals are navigated with creativity and sound judgement.

5. Organization demonstrates a clear, aligned, and well-articulated risk appetite.

6. Relationships with borrowers and partners feel strong, thoughtful, and solutions oriented.

7. A culture of openness in information sharing is cultivated. Encourages open communication, cooperation, and the sharing of knowledge.

8. Personal accountability that promotes ownership and engagement is modeled.

9. Builds and maintains effective working relationships with colleagues, peers and team members.

10. Values and supports differences in others, contributing to an inclusive work environment. Demonstrates the ability and willingness to communicate effectively with people of diverse backgrounds and experiences to create a collaborative, collegial, and caring community.

11. High level of satisfaction with both internal colleagues and external contacts.

Position Qualifications:

Education : Bachelor's Degree required, preferably in business, accounting or finance. Advanced degree preferred or equivalent experience in a similar position.

Previous Experience:

• Significant experience (10+ years) in credit