Executive Director - Connecticut Health and Educational Facilities Authority (CHEFA)

The Company

CHEFA bolters the capabilities and broadens the impact of Connecticut nonprofits by helping them access low-cost debt capital from the tax-exempt public and private debt markets and provides equity capital in the form of grants. As a conduit bond issuer, CHEFA underpins a critical social service infrastructure system that cares for the health, well-being, and education of Connecticut residents. CHEFA's professional staff has a knowledge and experience base gained over the past five decades and through the issuance of over $24.3 billion in tax-exempt bonds.

CHEFA has evolved into a valuable resource for a variety of constituencies, including existing and potential clients, and the Executive and Legislative branches of Connecticut State government. Projects financed by CHEFA include facility acquisition and rehabilitation, equipment acquisition, and new construction for private colleges and universities, the Connecticut State University System, private independent primary and secondary schools, charter schools, long-term care facilities, hospitals, childcare providers, cultural institutions, and other qualified nonprofits.

CHEFA exists to help serve the state's nonprofit sector and to support the community at large. Its mission is focused on providing clients with the financial resources and solutions they need to care, educate and support countless citizens throughout Connecticut. CHEFA is privileged to serve its community in this capacity and holds itself to the highest ethical standards. CHEFA is accountable to clients, the public, bondholders, the Executive Branch of the State of Connecticut, the Connecticut General Assembly and regulators for all operations of the Authority.

CHEFA Subsidiaries

The Connecticut Higher Education Supplemental Loan Authority (CHESLA) supports Connecticut students, helping to expand educational opportunities and develop the State's workforce. A related subsidiary, the Connecticut Student Loan Foundation, is a Connecticut State chartered not-for-profit corporation and quasi-public agency that was established pursuant to Title IV of the Higher Education Act of 1965. CHESLA's mission is to expand higher educational opportunities and enhance the State's economic development through higher education by providing cost-effective education financing programs and information resources to Connecticut students, alumni and their families.

The CHEFA Community Development Corporation (CHEFA CDC) was created to provide financial assistance to nonprofits who are in and/or serve low-income communities. CHEFA CDC's mission is to provide financial assistance by serving and/or providing investment capital to qualified nonprofit organizations in low-income communities located in the State of Connecticut.

Purpose of the Position

The Connecticut Health and Educational Facilities Authority (CHEFA) seeks a highly collaborative and visionary Executive Director to lead the organization during a critical period marked by sustained impact and forward momentum. With an ambitious strategic plan in place that positions CHEFA as the go-to resource for innovative financial solutions that enhance the quality of life in Connecticut, it needs a forward-thinking Executive Director who can provide strategic vision and leadership to enhance the organization and the positive impact it has on the state. The Executive Director will have the opportunity to provide strategic oversight and thought leadership to its three distinct subsidiaries: the Connecticut Higher Education Supplemental Loan Authority (CHESLA), the Connecticut Student Loan Foundation (CSLF) and CHEFA Community Development Corporation (CHEFA CDC). In this highly visible role, the Executive Director will serve as the face of the organization engaging with a broad set of internal and external stakeholders including the Board, community partners, funders, elected officials, and regulators to ensure that the organization continues to fulfill its overarching mission and vision.

With the support of a dedicated Board of Directors and talented team, the Executive Director will bring the necessary vision and leadership, financial acumen, management capabilities, and mission orientation to lead CHEFA and its subsidiaries in this next era. As CHEFA continues providing critical support for non-profit institutions in the state of Connecticut as well as leading student loan programs, it is essential that the Executive Director harnesses the existing strengthens of the organization while exploring new opportunities to expand CHEFA's impact and reach. The Executive Director must be a highly collaborative and accessible leader who can balance the competing priorities associated with the role to ensure robust financial support, strong external relations, and effective employee engagement.

The successful candidate will be an extraordinarily talented and motivational leader with a proven track record in providing high-level strategic oversight and day-to-day execution in a complex organization focused on economic growth and public financing. The Executive Director must be a visionary leader with a strong passion for the mission coupled with the necessary drive to support this critical organization during a period of sustained growth. Success will be measured by strategic organizational oversight, strong relationship building skills, effective fiscal and human resource management, and the ability to develop a highly effective strategy that positions CHEFA for long-term success. The Executive Director must be an agile leader who is nimble in approach and comfortable shifting priorities to meet the evolving needs of current and prospective clients.

Essential Functions

Reporting to the Board of Directors, the Executive Director has direct strategic and operational responsibility for all aspects of the CHEFA organization. This includes:

• Partnering with the Board on the strategic visioning of the organization during a period of growth and sustained impact.
• Providing strategic oversight of CHEFA's operations and overall fiscal management including recommendation of yearly budget for Board approval and prudent management of the organization's resources within those budget guidelines in accordance with written procedures, bylaws and state statutes.
• Pioneering new programs and allocating fiscal resources for CHEFA's non-profit clients and potential clients.\
• Developing and maintaining relationships with members of State legislature, Governor's Office, relevant state agencies, media, community leaders, and other key constituents.
• Serving as the public face of CHEFA in all that it does and ensuring a continued positive reputation for CHEFA and its subsidiaries.
• Effectively engaging with the Board of Directors of CHEFA, CHESLA, CSLF and CHEFA CDC, including all related committees.
• Ensuring that the organization's services and solutions are of the highest quality, reach those in need, create positive impact, and fulfill CHEFA's mission and vision.
• Administering the authority's financing programs, including grants. Includes direction of the staff members, as well as maintaining valuable relationships with the financial market and industry participants, and development and direction of the evolution of new products to meet the evolving market and client needs.
• Overseeing the education finance programs which are part of CHEFA's purview through its two subsidiaries the Connecticut Higher Education Supplemental Loan Authority (CHESLA) and the Connecticut Student Loan Foundation (CSLF). If appointed, serving as Executive Director of CHESLA and CSLF.
• Serving as Executive Director of CHEFA CDC and providing oversight of its development and operations.
• Providing leadership and fostering a positive corporate culture and staff engagement with a focus on continuous improvement and industry best practices.
• Effective staff management according to authorized personnel policies and procedures that fully conform with the organization's written procedures, bylaws, state statutes, current laws and regulations.
• Representing CHEFA with clients, potential clients, financial advisors, investment bankers and attorneys, government entities, and other industry participants.
• Serving as an Officer of the Authority and Money Purchase Pension Plan and 457 Plan trustee.

Requirements and Experience

• An undergraduate degree in Finance/Accounting or related discipline or equivalent. A Master of Business or Public Administration degree is preferred.
• Twelve years of progressive experience with a minimum of seven years providing staff leadership, operational oversight, and fiscal management with a strong emphasis on public financing.
• Superb leadership skill coupled with a strong business acumen and ability to effectively manage, lead, and supervise a talented, passionate, and dedicated team.
• A strategic mindset that will further enhance an organization which is already well run and fiscally sound.
• A credible leader with the ability to inspire confidence and effectively serve as the public face of CHEFA to key external constituents.
• An ability to balance day-to-day operations with overarching strategy in order to anticipate the future needs and options for the organization.
• Demonstrated experience in leading people, providing professional development opportunities, and fostering a welcoming, inclusive, and equitable environment.
• A strong collaborator with excellent organizational and communication skills coupled with a proven track record of successful fiscal management and effective resource allocation.
• Strong interpersonal skills to develop and maintain good relationships with legislators at federal and state levels as well as the ability to work across political parties and branches of government.
• An unwavering commitment to client satisfaction along with the ability to be creative and flexible in driving financial solutions for clients and potential clients.
• Solid financial and operational background with experience with credit, public, and bond markets along with familiarity with arbitrage rebate and tax structures, balance sheets, financial statements and bond offering statements.
• Knowledge of higher education, healthcare and other non-profit organizations desired.
• Creative, strategic thinker and a quick study who can grasp the greater mosaic in which CHEFA sits and the impact it has on CHEFA's business lines.
• An ability to effectively articulate and sell a compelling vision for the future to internal and external stakeholders.

CHEFA is an Affirmative Action/ Equal Employment Opportunity employer. As an Affirmative Action/Equal Employment Opportunity employer, the Authority encourages applications from women,


veterans, people with disabilities and members of traditionally underrepresented populations.