Opportunity Finance Network Strengthens Leadership with New Executive Appointments

Opportunity Finance Network (OFN), recognized as a leading investment intermediary, has taken a significant step forward with the announcement of two new key appointments to its executive team. This move is geared towards enhancing their operational framework and increasing their impact within the community development finance sector.

The New Leaders

Regina Ross has been appointed as the Executive Vice President and Chief People and Culture Officer. In her new role, Regina is expected to lead the organization’s human resources strategy, driving a culture that nurtures inclusion, engagement, and excellence. Her background includes a noteworthy tenure as Chief People Officer at Khan Academy and various leadership roles at prominent companies such as Target, Amazon, and Pitney Bowes. With her extensive experience, Regina is set to develop practices that will align with OFN’s mission and growth strategies.

Damon Smith joins OFN as the Executive Vice President and General Counsel. In this capacity, he will serve as a strategic advisor on legal matters related to the organization’s advocacy efforts, membership, and financial services. Previously, Damon held the position of General Counsel for the U.S. Department of Housing and Urban Development. His profound understanding of the legal landscape in the financial services sector, particularly concerning lending and community development, positions him as a critical asset for OFN as they navigate regulatory challenges.

OFN's Commitment to Community Development

The appointments are part of OFN's larger strategy to build a robust infrastructure that can support the growth and impact of community development financial institutions (CDFIs). As President and CEO Harold Pettigrew highlighted, strong executive leadership in both human capital and legal affairs is vital to assisting OFN and the broader industry in meeting emerging opportunities and challenges.

Since its inception in 1986, OFN has been dedicated to ensuring that underserved communities have access to vital financial resources. With a network of over 450 members, OFN not only manages more than $1 billion in assets but has also facilitated over $110 billion in financing, creating or maintaining over three million jobs and supporting the development of nearly 2.4 million housing units. These efforts reflect OFN's unwavering commitment to catalyzing economic opportunities across rural, urban, and Native communities.

Looking Forward

The addition of Regina Ross and Damon Smith heralds a new era for OFN as it continues to advocate for equitable access to financial products and services. Their leadership promises to enhance organizational effectiveness while simultaneously fostering a culture that prioritizes human capital development and compliance with legal standards. As OFN navigates the future, the impact of these strategic hires is expected to resonate throughout the CDFI network and the communities they serve.

With an ever-evolving landscape in community finance, OFN is poised to spearhead innovative initiatives that reflect its core mission – to ensure that all communities have access to the resources necessary for sustainable economic growth and development. The collective experiences and insights of Regina and Damon will undoubtedly contribute to this ongoing mission, making OFN a stronger ally for those in need of financial support.