• Nonprofit Finance Fund
  • $126,795.00 -126,795.00/year*
  • New York, NY
  • Accounting
  • Full-Time
  • 172 W 104th St

position filled body

Check out similar listings!

Loading some great jobs for you...

Job DescriptionWhat 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.Position Summary:The Financial Services team is seeking to hire a Manager, New Markets Tax Credits. The Manager performs the following job responsibilities for NFF s New Markets Tax Credit (NMTC) program, either in a direct or oversight capacity: NMTC compliance and reporting, loan servicing, and portfolio management. The Manager also provides support for investor relations management, applications for NMTC allocation authority and closing new investments. Primary responsibilities include asset management for closed investments, reporting to investors and regulatory agencies, review, and interpretation of deal documents, review of certain calculations and ratios, and maintenance of compliance files. The Manager must have a thorough understanding of the NMTC program regulations and requirements, be able to effectively communicate with staff, investors, borrowers, external auditors and regulatory agencies related to these areas, and be able to manage, train and oversee the work of any junior staff.This position will be based in NFF s New York, NY office. This position will report to the Director, NMTC.Primary Duties and Responsibilities:Compliance ManagementManage reporting to regulatory agencies, including the timely registration of investment activities, annual institution and transaction level reporting, and response to related notices.Review and summarize relevant partnership agreements, loan agreements and related documents for compliance and reporting requirements.Oversee the management of the NMTC advisory board including preparation of meeting agendas and minutes.Ensure that NFF and all subsidiary NMTC entities maintain their ongoing status as community development entities.Maintain files, spreadsheets, and tools necessary to ensure NMTC compliance.Loan Servicing, Portfolio Management, and AccountingCoordinate the transition of investments from closing to ongoing monitoring.Review and approve loan serving including loan invoices and investor distributions to ensure compliance with partnership agreements and tax credit regulations and invoices for and receipt of asset management fees.Oversee collection and analysis of borrower impact reports, financial statements, and compliance certificates. Perform other loan monitoring responsibilities including completion of site visits, financial analysis, and prepare risk ratings in order to monitor project condition and borrower financial health. Analyze overall portfolio quality and risk assessment.Manage NMTC unwinds.Support the Finance team s oversight of timely and accurate preparation of financial statements, audits and tax returns by the accountant and auditor.Communication and ReportingInteract with borrowers, project representatives, and community stakeholders to collect and manage required reports and community and economic impact data; refine measurement and tracking of impact data.Manage preparation of investor reports including compliance certificates and substantially all testing.Assist with the preparation of reports to management, the board of directors and government agencies.Maintain overall portfolio statistics and consistency of data points for internal and external reporting.Maintain a culture of quality customer service at all points of contact with NFF clients, Financial Services team, regional and site management and other staff, board and committee members, lending partners and professionals.General NMTC ResponsibilitiesMaintain a thorough and up-to-date understanding of the tax and compliance requirements related to NMTC and monitor developments in the industry related to tax credit compliance.Support applications for NMTC allocation authority, including drafting or commenting on narrative sections, supporting the development of a transaction pipeline, and obtaining necessary impact data.Identify process and system improvements as they relate to all aspects of compliance and reporting.Develop staff training materials and programs.Essential Requirements for Education and/or Experience:Bachelor s degree or equivalent experience required; Master s preferred in business, finance, public administration, or related field.Minimum 3-5 years experience, ideally in accounting, asset management, finance or lending, including at least 2 years of NMTC experience.Demonstrated knowledge of the New Markets Tax Credit program and Community Development Finance Institutions (CDFIs).Experience reading legal agreements and documents.Familiarity with nonprofit financial statements.Strong time management and organizational skills, attention to detail and ability to coordinate complex activities and prioritize conflicting demands and deadlines.Proficiency with Microsoft Office applications and other databases.Specialized Knowledge/Beneficial Skills and Experience:Must be highly motivated, be able to work independently and possess strong written and oral communication skills.Knowledge of partnership accounting, real estate terminology and related concepts.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.

* The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

Launch your career - Upload your resume now!