Financial Capability Officer — Urban Edge
Urban Edge is a nonprofit community development organization located in Boston with a mission dedicated to strengthening communities and families. Together, we build affordable housing and vibrant, prosperous neighborhoods. We focus on economic justice through financial counseling, wealth building through homeownership education, anti-displacement through foreclosure prevention, and resident support services as we construct more affordable housing. Located where Boston’s Latin Quarter meets its historic African-American neighborhood at the crossroads of Jamaica Plain and Roxbury in Jackson Square, our goal is to foster diverse urban neighborhoods of choice populated by resilient families and sustained by community relationships.
In 1974, redlining, real estate speculation, and displacement of low-income families were tearing at the fabric of Boston communities. The determined resident opposition had succeeded in halting the extension of I-95 through the City, but the landscape sustained the scars of cleared land. That’s when community leaders came together and founded our agency to rebuild our neighborhood on the “urban edge.” To date, we have developed nearly 1,500 units of affordable housing and maintain a portfolio of 1,369 units. Urban Edge’s budget for CY22 is approximately $5.3M, and we currently employ a staff of 30.
The Financial Capability Officer is an outgoing, solution-oriented professional committed to assisting individuals and families in building wealth and economic resiliency. As part of Urban Edge’s Community Programs Department, the Financial Capability Officer will manage multiple program priorities. The Financial Capability Officer will have extensive contact with Urban Edge’s clients, financial institutions, agencies and non-profit entities. As the position plays a significant role in counseling clients around critical home ownership, financial and wealth building issues, the role requires the attainment of several professional certifications. Required certifications include: HUD Certified Counseling exam, Financial Capability Counseling, First Time Home Buyer Instructor, and Foreclosure Prevention Counseling certifications. For candidates that do not come to the role with these certifications, UE will provide training and support to assist you with their attainment within your first 6-months of employment.
This is a fast paced, customer focused position. The position includes a significant amount of homeownership, foreclosure and financial counseling for a wide range of clients with low to high AMI. The ideal candidate will need to develop a strong understanding of, and comfortability with a wide range of wealth building tools and processes to be successful. In addition, all Community Program Department officers are responsible for regular reporting on at least one revenue generating line of business. Within this role, the Financial Capability Officer will serve as the program lead for reporting on assigned financial wellness programs (E.g. Matched Savings, STASH, and assigned credit building programs).
Essential Duties and Responsibilities:
• Serve as the program lead for reporting on assigned financial wellness programs.
• Build and maintain external relationships with Financial institutions and other program partners.
• Serve as a financial coach to help UE clients develop and achieve their financial goals. The coach will assist clients with creating a budget, developing an action plan, and with motivating clients to achieve their financial wellness goals.
• Read and analyze credit reports to educate clients on factors that negatively impact their credit score.
• Assist and advocate on behalf of clients to apply appropriate solutions for their financial challenges, including assisting clients in refinancing or forgiving debt, removing negative items from their credit report, negotiating with collection agencies to eliminate collection accounts, etc.
• Enroll clients into new program offerings, including credit building programs, matched savings programs, other products or partner agencies to achieve client goals.
• Meet with clients regularly to monitor and share progress towards achieving financial wellness.
• Develop and manage reports to measure program outcomes.
• Become knowledgeable of the various laws and Consumer Finance Protection Bureau (CFPB)regulations regarding credit and the rights of people who want to improve their credit standing.Home Ownership, Homebuyer Development and Foreclosure Prevention:
• Receive referrals from various sources, including: internal staff, CUE Realty agents and from classes of prospective homebuyers.
• Determine and educate the client on best mortgage program based on household income, circumstances and desired purchase location.
• Identify lenders that offer programs that client is eligible for and assist prospective homebuyers to obtain preapprovals and the best mortgages.
• Educate clients on potential lottery properties. Assist and advocate for client in the application process.
• Work with CUE Realty and other realtors to assist in the Homebuying process.
• Assist residential property owners who are in jeopardy of losing their homes to foreclosure.
• Advocate for clients with holders of the mortgage documents and negotiating terms to forestall foreclosure and protect the homeowner’s rights.
• Analyzing, collecting and maintaining all documents needed to meet requirements relating to the Foreclosure Prevention Program.
• Work cooperatively with several departments within the organization.
• Utilize and update the Salesforce (or other) client management systems regularly to manage client, and other required program information.
• Act in the clients’ and organization's best interest, reflecting the values of teamwork, collaboration, and mutual respect.