Analyst, New Markets Tax Credits
for Nonprofit Finance Fund in New York, NJ USA
What We Do:
NFF works toward a more just and vibrant society through:
Financing that helps nonprofits and social enterprises expand opportunity in low- and middle-income communities.
Consulting that helps nonprofits and funders connect money to mission and community impact.
Partnering with service providers, funders, and investors to turn money and goodwill into positive outcomes.
Learning that shares experiences and expertise ? from ideas to anecdotes to cutting-edge data and analysis.
Nonprofit Finance Fund (NFF) advances missions and social progress in underserved communities through financing, consulting, partnerships, and knowledge-sharing. A leading Community Development Financial Institution (CDFI), NFF currently manages over $329 million. Since 1980, we have provided $871 million in financing and access to additional capital in support of over $2.9 billion in projects for thousands of organizations nationwide.
Working at NFF:
Nonprofit Finance Fund (NFF) is a nonprofit community development financial institution (CDFI) that provides innovative financing to mission-driven organizations. One of our financing products is the New Markets Tax Credit, a federal program that encourages investments for projects that benefit low-income communities and low-income people. These benefits may be in the form of new jobs or new goods and services. The tax credits are awarded by the U.S. Department of Treasury, Community Development Financial Institution Fund ?the ?CDFI Fund?) on a competitive basis. NFF is a nine-time awardee and has received a total of $401 million in allocation. NFF deploys the tax credits to nonprofit organizations that create or expand health, education, workforce and human services for underserved people. Our NMTC team is currently seeking an individual to join us in our work.
The Analyst is an entry-level position with the NMTC team that helps manage the ongoing reporting and compliance activities of NFF?s NMTC investments, currently a $176 million portfolio. Your work involves three major components: Asset Management, Compliance, and Servicing. You will have responsibility for making sure these aspects of our operations run smoothly, effectively, and in accordance with current rules and regulations, as well as with NFF policies and procedures. You will be in a reporting structure that includes the Director and Manager of NMTC and will work closely with members of the Finance and Administration, Portfolio Management, and CDFI Lending teams. This position will provide the opportunity to gain exposure to, training in and experience with important aspects of community development lending and operations.
This position is based in NFF?s New York office. This position will report to the Manager, NMTC.
Primary Duties and Responsibilities:
- Monitor borrower loan payment activity and support the preparation of annual audited financial statements;
- Assist with cash management and loan servicing activities, such as invoice distribution monitoring incoming payments, and processing outgoing payments and distributions;
- Collect and monitor required financial statements, reports, and compliance certificates to ensure reporting is completed on-time and in accordance with all reporting requirements;
- Collect and manage annual community impact reporting for each project;
- Identify and address compliance issues, and in coordination with investors and co-lenders, identify strategies and implement procedures to improve project performance and/or mitigate risks;
- Manage project-level reporting, including review and compilation of information for NFF?s ongoing reporting obligations to investors and the CDFI Fund;
- Assist in loan closing by negotiating payment and reporting terms according to NFF?s requirements;
- Serve as the primary contact for borrowers, investors, and participant lenders on loan performance, projected and actual outcomes, and project information;
- And manage NFF?s external NMTC Advisory Board including performing NMTC compliance tests for the Board member accountability requirements and preparing meeting agendas and minutes.
Essential Requirements for Education and/or Experience:
- Bachelor?s degree or equivalent combination of education and experience.
- 0-3 years of work experience, preferably in the fields of financial services, accounting, operations, regulatory compliance, and/or community development.
- An organized and meticulous approach to work with strong attention to detail.
- Strong time management, multi-tasking, and organizational abilities, and ability to coordinate and prioritize among conflicting demands and deadlines.
- Excellent Microsoft Excel skills required in addition to proficiency with other Microsoft Office applications.
- Self-motivated team player with excellent multi-tasking skills, excellent follow-up skills, and strong attention to detail.
- Strong written and verbal communication skills.
- Possess good networking, relationship management, and customer service skills.
Specialized Knowledge/Beneficial Skills and Experience:
- Familiarity with real estate and financing terminology and related concepts
- Familiarity with nonprofit accounting
- Experience with the NMTC program
- Knowledge of Salesforce
All salaries are commensurate with experience and include an attractive benefits package.
Nonprofit Finance Fund is committed to diversity, equity, and inclusion in its workforce. Diverse candidates are encouraged to apply.
NFF is an equal opportunity employer and does not discriminate against any applicant or employee because of race, color, religion, sex, national origin, disability, genetic information, age, or military or veteran status in accordance with federal law. In addition, NFF complies with applicable state and local laws governing non-discrimination in employment in every jurisdiction in which it maintains facilities. NFF also provides reasonable accommodation to qualified individuals with disabilities in accordance with applicable laws.
This job posting provides a general list of the essential responsibilities and qualifications required for this position. It does not represent a contract for employment and NFF reserves the right to change the description and/or posting at any time without notice.
When applying, please DO NOT include any of the following information with your job application: Social Security number; driver's license number or state-issued identification card number; financial account number, or credit or debit card number.
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Job Category: Other / Miscellaneous
Location: New York, NJ USA
Zip Code: 10004
Posted on: 02/12/2020
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