Director, Finance

Background

About NCRC

The National Community Reinvestment Coalition is a network of organizations and individuals dedicated to creating a nation that not only promises but delivers opportunities for all Americans to build wealth and live well. We work with community leaders, policymakers and institutions to advance solutions and build the will to solve America’s persistent racial and socio-economic wealth, income and opportunity divides, and to make a Just Economy a national priority and a local reality. This vision is the foundation of the Just Economy Pledge.

NCRC’s unique mix of research, investigations, investments, media, grant-making, training, advocacy, litigation, lending, convening and facilitation strengthens communities of historic disinvestment, expands economic mobility, holds public and private institutions accountable for their impacts, and informs local and national leaders, policymakers and the private sector.

Established in 2007 and certified by the U.S. Treasury as a Community Development Financial Institution (CDFI) in 2012, NCRC Community Development Fund (NCRC CDF) is a 501(c)3 whose mission is to help bridge the racial wealth divide in America’s underserved communities. NCRC CDF is a subsidiary of the National Community Reinvestment Coalition (NCRC).

NCRC CDF invests in affordable housing development and provides access to capital and business support services nationwide. We leverage our cultural competencies in support of small business sustainability and access to affordable housing across the country with an emphasis on Black, Latino, and low-income communities.

Summary

Position Overview

Reporting to the Executive Director, NCRC CDF, the Director will be responsible for leading, managing, and coordinating all financial matters for the Community Development Fund. This individual will be responsible for developing the organization’s budget, maintaining the organization’s financial statements, managing cash flows, and work closely with our lending program manager to ensure appropriate disbursements and servicing for loans and grants disbursed by the organization.

Location

This position is based in Washington, DC near McPherson Square Metro as part of a hybrid environment with Tuesdays, Thursdays, and sometimes Wednesdays in the office.

Responsibilities

Financial Management

• Oversee day-to-day financial operations, including cash flow management for operations and lending activities, revise quarterly and annual cash flow projections for efficient cash flow planning to ensure availability of funds as needed and optimization of investments.
• Ensure timely loan, and other capital product closings, disbursements, and related fund transfers.
• Oversee financial asset risk management of outstanding loan, NMTC, and grant portfolios.
• Develop and utilize forward-looking, predictive models and activity-based financial analysis to provide insight into the organization’s operations and business plans.
• Administer the development and monitoring of program and operating budgets.
• Assist and collaborate on funding and fundraising activities, serve as point of contact for financial due diligence with funders, negotiate covenants and other terms in investment and funding agreements to meet NCRC Community Development Fund’s priorities, and limit compliance burden.
• Oversee investments, monitor and manage cash flow needs, liquidity and covenant compliance, effective asset allocation of investments, ensure effective investment policy, and manage recommendations to the Executive Director and Board of Directors.
• Actively support the annual budgeting process.

Accounting & Compliance

• Manage day-to-day finance and accounting operations of the organization, ensuring effective policies, procedures, internal controls, and effective systems are maintained.
• Ensure timely and accurate financial reporting for federal and state funders, foundations, management team and Board of Directors, including preparation and presentation of monthly and annual financial statements.
• Manage and report on lending, administrative, and organizational compliance to funders and investors, including the Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund, banks and foundations, and demonstrated experience with annual recertification as a CDFI and renewal of Aeris rating.
• Be knowledgeable of all CDFI Fund-related federal compliance regulations.  Identify and communicate potential compliance concerns, work closely with the management team, lending team, and finance team to maintain good standing as a CDFI.  Evaluate NCRC Community Development Fund’s performance relative to CDFI peers.
• Lead and coordinate audits with consultants and proper preparation and filing of all corporate tax returns. Ensure legal and regulatory compliance regarding all financial functions.
• Demonstrate understanding of establishing and maintaining a negotiated cost rate agreement (NICRA)
• Report to the senior leadership team, and full Board of Directors, on the financial health of the organization, including budget, investments, lending, and program operating activities
• Lead annual renewals of corporate lending license and securities permit.
• Facilitate completion of ad hoc reporting requests from senior management and other internal or external stakeholders.

Strategic Business Development, Funder, & Investor Relations 

• Develop annual and multi-year capital plans for new grant revenue, debt capital, joint financing partnerships, and other sources of capital for the organization.
• Develop capital market solutions to expand the scale of financing activities, support the creation of new programs, products, and initiatives, and apply capital markets methods to create new financing facilities and relationships with banks, foundations, and other financial institutions interested in impact investment partnerships.
• Represent the organization to financial partners, including investors, foundation executives, auditors, public officials, etc.
• Negotiate investment agreements with institutional investors, centering NCRC Community Development’s capitalization needs, limiting compliance burden, and ensuring excellent investor relationship management.
• Maintain up-to-date knowledge of all critical IRS, CDFI, and nonprofit audit matters, GAAP rules, and state and federal regulations regarding nonprofit and CDFI-related matters.
• Develop and utilize forward-looking, predictive models and activity-based financial analyses to provide insight into NCRC Community Development’s operations and business plans.
• Assist in applying for government funds, including CDFI, NMTC, and other sources.

Planning, Policy, & External Relations 

• Coordinate the development and monitoring of budgets.
• Develop financial business plans and forecasts.
• Participate in corporate policy development as a member of the senior leadership team.
• Engage senior leadership to develop short, medium, and long-term financial plans and projections; review these plans with the Executive Director and appropriate committees of the Board of Directors.
• Communicate collaboratively with NCRC finance department relative to NCRC CDF finance matters
• Represent the company to financial partners, including financial institutions, investors, foundation executives, auditors, public officials, etc.
• Support and participate in the planning and execution of the company’s annual conference and other key events.

Requirements

Qualifications

• 5+ years of relevant experience in nonprofit accounting, community development, and lending
• Managerial experience
• Bachelor’s degree in accounting or finance or equivalent combination of education and experience; master’s degree in business administration (MBA) preferred
• Professional accreditation such as certified public accountant (CPA), certified management accountant (CMA) or chartered global management accountant (CGMA) preferred
• Up-to-date knowledge of all critical IRS, CDFI, nonprofit audit matters and GAAP rules
• Ability to adapt to a continually evolving environment and thrive in an autonomous and deadline-oriented workplace
• Fluency in additional languages (Spanish, Mandarin, Somali, Arabic, Farsi, and/or Amharic) strongly preferred
• Applied knowledge of underwriting fundamentals and standard industry practices
• Advanced understanding of financial principles, and accounting processes
• Knowledge of federal, state, and local regulatory requirements
• Ability to maintain confidentiality
• Strong analytical skills and attention to detail
• Excellent communication and negotiation skills
• Solid technology and management skills
• Ability to multitask and work under pressure to meet strict deadlines

Knowledge, Skills, and Attributes

• Nonprofit & CDFI Financial Management:
  1. Financial asset management of outstanding loan, NMTC, and grant portfolios.
  2. Cash flow management for operations and lending activities.
  3. Timely loan, and other capital product closings, disbursements, and related fund transfers.
  4. Development and monitoring of program and operating budgets.
• Nonprofit & CDFI Accounting & Compliance
  1. Day-to-day finance and accounting operations.
  2. Ensure effective policies, procedures, internal controls, and effective systems are maintained
  3. Timely and accurate financial reporting for various stakeholders.
  4. Knowledge of all CDFI Fund-related federal compliance regulations.
• Nonprofit & CDFI Strategic Business Development, Funder, & Investor Relations
  1. Develop annual and multi-year capital plans for diverse sources of capital.
  2. Develop capital market solutions to expand the scale of financing activities, support the creation of new programs, products, and initiatives, and apply capital markets methods to create new financing opportunities.
  3. Negotiate investment agreements with institutional investors.
  4. Maintain up-to-date knowledge of all critical IRS, CDFI, and nonprofit audit.
• Planning, Policy, & External Relations
  1. Coordinate the development and monitoring of budgets.
  2. Develop financial business plans and forecasts.
• Thriving in A Fast-Paced Environment & Working with An Equity, Inclusion, & Diversity Lens
  1. Ability to prioritize and manage time effectively.
  2. Using judgement and skill to complete tasks.
  3. Working on multiple projects at once and juggling competing priorities.
  4. An emphasis on individual and teamwork to keep things moving.
  5. This position requires an individual who is especially detail-oriented and has strong organizational skills.
  6. Passionate about building and sustaining an inclusive and equitable working environment.

Compensation and Benefits

Salary Range:$120,000.00 To 140,000.00 Annually

How to Apply

Interested applicants may submit their cover letter and resume online at https://ncrc.org/careers/. No phone calls/emails, please.

NCRC IS AN EQUAL-OPPORTUNITY EMPLOYER.  

EEO/AA  

M/F/D/V