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The track record of today’s opportunity finance industry is impressive. All financing directly benefits low-income and low-wealth people to increase access to homeownership opportunities, affordable rental housing, thriving small businesses, and critical services such as childcare, healthcare, and education.

Do you want to develop innovative strategies? Combine your business acumen with an unwavering dedication to making a difference in people’s lives? Change the rules of financing? Make your impact and join the opportunity finance field.

To submit a job listing, please use our online form. If you need to edit or remove a posting, please contact info@ofn.orgSubmissions will be reviewed to ensure relevancy to the industry, and posted within 2 business days.

Managing Director, Underwriting Bridgeway Capital, Inc.
Pittsburgh, PA
Job Function: Underwriting
Posted: March 13, 2019

Background:

Bridgeway Capital, headquartered in Pittsburgh, Pa., makes western Pennsylvania a thriving region for all by promoting economic opportunity and community revitalization. Founded in 1990, Bridgeway Capital serves 15 counties from 3 offices. It manages over $100 million in assets. It is a rapidly growing, market-driven, private-sector financial intermediary with a social mission. Bridgeway made over $21 million in loans in 2018 and is certified as a Community Development Financial Institution (CDFI) by the U.S. Treasury Department. Bridgeway is rated A+ by the Aeris Rating system for CDFIs.

Position Summary:

Bridgeway Capital is seeking a Managing Director of Underwriting to advance its mission by leading its credit risk management efforts and supporting growth in its commercial loan portfolio. The Managing Director:
- implements the credit policy of Bridgeway Capital
- supervises the work of assigned subordinates
- provides motivation, guidance, and training to credit analysts
- manages the credit approval process and loan underwriting for all loan products
- has lead responsibility for Bridgeway’s credit risk management.

Responsibilities:

Ensure that all lending advances Bridgeway’s social mission
Ensure that all lending complies with investor covenants and program requirements
Manage the day to day loan underwriting process
Complete underwriting of loan requests
Communicate and enforce loan policies and procedures
Identify improvements to policies and procedures to streamline delivery of loan products without compromising credit quality
Participate in the successful development of new products to fulfill Bridgeway’s strategic plan and support responsible growth
Supervise staff in loan underwriting, approval, and loan modification activities
Manage and build a loan portfolio that supports self-sufficiency goals

Risk Management
Manage the underwriting team to collaborate closely with Chief Lending Officer and Loan Officers to review loan applications for feasibility, structure, and compliance with policies and procedures
Support business development and product development initiatives
Assess and monitor the credit risk profile of each loan product’s portfolio and individual loans within the portfolios
Monitor and ensure compliance with credit policy, investor covenants, and program requirements.
Review and approve or decline all transactions within delegated authority
Prescreen potential new lending opportunities and provide guidance on loan structuring
Recommend transactions above delegated authority to internal approvers, the Board of Directors’ Loan Committee and the Boards of Directors as needed

Portfolio Management
Oversee annual review process for portfolio loans and a benchmark review of the adequacy and consistency of risk ratings within the portfolios
Call on loan prospects and borrowers when credit issues arise
Report to senior management on the quality of loan portfolios

Management/Supervisory Responsibilities
Recruit and select new underwriting personnel for open positions
Provide for proper orientation and training of personnel
Provide leadership and guidance to underwriting personnel
Review employee performance in comparison to agreed upon goals
Create an atmosphere in which upward communication from employees is encouraged
Adhere to and ensure the underwriting team adheres to all internal policies, procedures and practices in support of effective risk management and overall safety and soundness and maintain Bridgeway’s compliance with all relevant laws

Requirements:

Education/Experience (all education/experience bullets are required unless noted as “preferred”):
4-Year Bachelors Degree (prefer Finance, Accounting, or Economics majors
7+ years experience underwriting commercial loans
Experience leading successful team preferred
Commercial real estate or community development experience preferred

Job Knowledge, Skills and Abilities
Ability to understand, implement and communicate Bridgeway Capital’s mission
Ability to read and interpret financial information
Ability to recognize strengths/weaknesses in loan requests
Ability to organize tasks and priorities
Decision making: Ability to objectively analyze situations and draw accurate conclusions based on logic and facts
Executive disposition: Ability to convey an image that is consistent with effective leadership and the organization’s values
Performance management: Ability to work with employees to establish and achieve clear, measurable performance goals linked to organizational goals
Ability to translate strategy into specific actions plans
Ability to assign responsibility for carrying out action plans
Working collaboratively: Ability to seek input from others, facilitate group problem-solving, cooperate and work effectively with others to achieve goals

Compensation:

Competitive based on experience and qualifications

How to Apply:

Sumbit resume and cover letter to T.J. Bogdewic, Chief Lending and Credit Officer, at tbogdewic@bridgewaycapital.org

Accounting Specialist Syracuse Cooperative Federal Credit Union
Syracuse, NY
Job Function: Accounting
Posted: March 12, 2019

Background:

Cooperative Federal is a unique combination of a traditional credit union and a non-profit community development organization. We operate four community-based offices in the city of Syracuse, NY and three high-school branches. Joining our team is making a choice to dedicate yourself to building our local community and advancing social justice. We are activists posing as bankers.

Cooperative Federal is a non‐profit, certified Community Development Financial Institution (CDFI) chartered in Syracuse in 1982. We deliver a wide selection of accounts, consumer credit, mortgages, business loans, financial education, and financial counseling to our predominantly low‐income membership, helping people meet both short‐ and long‐term financial needs. Our programs help members build credit, buy cars, become homeowners, avoid foreclosure, launch businesses, and more, particularly in neighborhoods that have become “bank deserts.” We are designated as a Low Income Credit Union and a HUD Housing Counseling Affiliate.

Position Summary:

The following essential responsibilities are driven by our mission: to serve those underserved by conventional financial institutions, to manage our members’ assets responsibly, and rebuild the local economy in ways that foster justice:

Summary:
Maintain reliable accounting information and reporting for management planning and decision making and for fulfillment of financial reporting requirements. Reconcile GL and bank accounts. Prepare and post journal entries. Handle payroll processing.

Responsibilities:

ESSENTIAL DUTIES:
1.Responsible for general ledger reconciliation, and preparation and posting of some journal entries. File and store general ledger journals daily.
2.Set up prepaid and fixed assets in the electronic asset register. Run the depreciation program and prepare reconciliation reports.
3.Review accounts payable checks produced by other staff, for proper authorization. Serve as a back-up for accounts payable, if needed.
4.Reconcile outstanding checks and perform stale-dated check follow-up.
5.Post to accounts receivable, reconcile outstanding receivables, and prepare accounts receivables reports.
6.Review daily cash balances.
7.Prepare daily reconciliation of credit union transaction account, including share draft deposits.
8.Research and adjust all open items and variances, coordinating with other staff as needed.
9.Handle payroll process. Process biweekly payroll files using vendor program, currently ADP. Enter new employees into payroll and timesheet system and assist staff with password resets as needed. Update vacation accruals and sick accruals. Update payroll deductions, garnishments, etc as appropriate. Transmit 401(k) contribution data to plan vendor. Prepare and post payroll journal entries.
10.Follow credit union policies and procedures. Develop and implement processes to streamline credit union accounting practices.
11.Write or update procedures for all tasks in area of responsibility.
12.Ensure that procedures and practices adhere to generally accepted accounting principles (GAAP).
13.Prepare and distribute daily cash balance report
14.Assist with reports such as ALM, ALL, NCUA Call Report
15.Prepare any other financial reports as requested

Requirements:

Other Job Requirements and Qualifications
16.Ability to use verbal and written communication to resolve issues with staff and service providers, and ability to provide detailed records of activities as needed
17.Ability to collaborate with other staff members to achieve work outcomes
18.Demonstrated ability to positively represent and promote the credit union and its mission, policies, programs and services
19.Positive attitude and ability to exhibit courteous, patient and professional behavior
20.Good judgment with regard to confidentiality, privacy and professionalism, and ability to consistently exhibit trustworthy and fair behavior
21.Three years accounting experience or equivalent training, experience with credit union and/or nonprofit accounting preferred
22.Basic Windows and Internet skills required to perform web-based functions, and ability to use word processing, spreadsheet, and email software
23.Must have or develop a thorough knowledge of Ultradata General Ledger System
24.Ability to handle numeric and textual information with high accuracy and repeatability
25.Ability to work in a noisy, crowded, dynamic environment in close proximity to others
26.Ability to work regular hours in a facility with environmental factors that would ordinarily be expected in a place that is open to the public
27.Ability to physically access office workspace and filing systems
28.Cross-train essential duties to ensure efficiency during vacations and sick days

Compensation:

Competitive nonprofit salary based on experience, education, and skills; and a benefits package, including health insurance, 401(k) retirement plan, life insurance, generous paid time off, and 11 paid holidays annually.

How to Apply:

To apply, please email a brief cover letter and your resume to hr@coopfed.org

You can also direct resumes, cover letters and inquiries to:
Cooperative Federal, Attn: Staff Search, 800 N Salina St, Syracuse, NY 13208

To apply by fax, send resume and cover letter to (315) 476-0567, ATTN: Staff Search

Devlopment and Compliance Manager Finance Fund
Columbus, OH
Job Function: Other
Posted: March 11, 2019

Background:

Finance Fund and Finance Fund Capital Corporation were created to connect underserved communities with public and private sources of capital. We simplify the complexities of the funding process to help good ideas come to life — ideas that change systems, create jobs, address community needs and improve the quality of life in Ohio’s neighborhoods and communities. It takes committed leaders, clients, partners and staff to enable the kind of change that we support to work to develop healthy, sustainable economies in low-and moderate-income, at-risk rural and urban communities. This work is guided and driven by our Mission, Vision, and Values.

In 1985, the Ohio Department of Development and the Ohio CDC (Community Development Corporation) Association convened a task force of community-based organizations to share expertise and advocate on behalf of underserved communities. This task force was charged with recommending a way to meet the future financing needs of community-based development projects. In 1987, the 501(c)(3) non-profit called the Ohio Community Development Finance Fund (or Finance Fund) was born and has since become a go-to funding resource for public and private-sector organizations. Finance Fund provides millions of dollars for the revitalization of distressed communities and neighborhoods across Ohio.

Finance Fund Capital Corporation (FCAP), the certified non-profit Community Development Financial Institution (CDFI) affiliate of Finance Fund, made its first loan in 2006. FCAP is primarily focused on small business lending in low-and moderate-income communities with focus on healthy foods, community facilities, health and wellness, education and manufacturing.

Position Summary:

Under the direction of the Vice President for Real Estate Development, the Development and Compliance Manager is responsible for monitoring and directing real estate functions, including, but not limited to, grant and funding compliance, data and document compilation from acquisition through marketing and sales, and ongoing reporting to partners and regulatory agencies. This person will serve as the primary point of contact for all compliance issues

Responsibilities:

• Prepare documents related to real estate transaction.
• Assist with preparation, coordination, and filing of grant and other funding applications.
• Compile all necessary information for government agencies – including, but not limited to OHFA, FHLB, HUD, and RD – for property acquisitions, LIHTC applications, and ongoing compliance of existing projects.
• Oversee properties as going concerns, keeping revenue at or above the projected budget, dealing with tenant issues, and providing written monthly accounts of costs incurred.
• Compile reports on due diligence including zoning, utility research, title review, market analysis, demographic studies, etc.
• Coordinate site activities, including meeting stakeholders, vendors, and staff on-site.
• Ensure all safety policies and practices are followed – including all permits are received prior to construction work, all necessary inspections are completed, all properties are certified for occupancy.
• Assist Vice President, Real Estate Development in other duties, as assigned.

Requirements:

• Minimum of two years of experience in affordable housing affordable housing, including direct or support roles in acquisitions, design, financial projections, and lease-up or sales.
• Specific knowledge and experience with OHFA, HUD, FHLB, and RD, including loan requirements, grant applications, and HAP awards and assignments.
• General knowledge of and experience with the construction process from identifying site and scope of work to occupying and stabilizing units.
• Willingness to coordinate schedules, host and attend meetings, and work collaboratively on multiple projects at the same time.
• Experience with fundraising, cost accounting, and invoicing.
• Experience with collaboration, community building and advocacy, and project creation.
• Must be able to pass a criminal background check, pre-employment drug screen and possess a valid driver’s license.

Compensation:

Negotiable

How to Apply:

To apply for this position, please send a cover letter and resume to Suzette Berry, MBA, the Vice President, Human Resources at Finance Fund and Finance Fund Capital Corporation at
SBerry@FinanceFund.org. Thank you!

Manager, New Markets Tax Credits Nonprofit Finance Fund
New York, NY, NY
Job Function: Lending/Loan Operations
Posted: March 1, 2019

Background:

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.

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.

Responsibilities:

Compliance Management
- Manage 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 Accounting
- Coordinate 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 Reporting
- Interact 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 Responsibilities
- Maintain 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.

Requirements:

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.

Compensation:

All salaries are commensurate with experience and include an attractive benefits package.

How to Apply:

Apply here: https://nonprofitfinancefund.applytojob.com/apply/jGREaBi1dJ/Manager-New...

NOAH Preservation Impact Investment Fund Manager Greater Minnesota Housing Fund
St. Paul, MN
Job Function: Lending/Loan Operations
Posted: February 28, 2019

Background:

Greater Minnesota Housing Fund (GMHF) is Minnesota’s leading nonprofit affordable housing lender, providing a diversified range of products including predevelopment, acquisition, construction, bridge, first mortgage financing and equity capital for affordable housing in all 87 counties of Minnesota.

GMHF is certified by the Department of Treasury as a Community Development Financial Institution (CDFI) to address the affordable housing needs of Minnesota’s under-served areas including cities, towns, rural areas, and tribal nations. As a mission-driven 501(c)(3) nonprofit organization, GMHF is committed to Housing First principles, recognizing that safe, decent, affordable housing provides the foundation for improved social impact including improved health, educational, and employment outcomes. Housing is also essential to the economic vitality of Minnesota’s communities.

GMHF is known for its innovative programmatic solutions to Minnesota’s affordable housing challenges, working with impact investors, employers, local government and philanthropy to collaboratively address statewide housing demands. In addition to its CDFI lending, GMHF operates two nonprofit subsidiary funds: Minnesota Equity Fund (MEF), an equity investment vehicle for socially motivated investors to finance affordable housing, and NOAH Impact Fund, which invests in the preservation of unsubsidized, affordable multifamily rental housing in the Minneapolis/St. Paul metro.

Each year GMHF lends or invests $60 million to $80 million to create and preserve affordable homes across Minnesota. GMHF also awards between $750,000 and $1 million annually in grants to assist nonprofits specializing in legislative policy, legal advocacy, tenant organizing, homebuyer training, manufactured home park preservation, planning and technical assistance, and other complementary activities. Since 1996, GMHF has financed over 15,800 safe, affordable homes for individuals and households with low incomes in more than 600 developments, serving 180+ communities.

GMHF provides impact investors with a range of opportunities to invest in their communities and create affordable homes and improve the life outcomes of low-income families and vulnerable adults. GMHF has attracted over $175 million of private investment capital and over $150 million in charitable contributions in its 23-year history.

For more information about GMHF, visit www.GMHF.com.

Position Summary:

The goals of the NOAH Impact Investment Fund include:
o In partnership with qualified nonprofit and for-profit owner-operators, deploy the Fund’s capital as equity investments in appropriately structured NOAH properties where, in the absence of the Fund’s involvement, rent affordability would be at risk of loss.
o Structure financing and partnerships to successfully preserve the affordability of the acquired NOAH properties over an expected period of 15 years.
o Grow the Fund through effectively achieving economic and social impact goals, raising new rounds of social impact capital, and managing the Fund’s assets in a manner that supports the acquisition and preservation of additional NOAH properties.
o Capitalize and close the NOAH Fund Pool II with $25 million, including institutional impact capital and mission-related investments (MRI).
o Acquire 900 - 1,000 units of at-risk unsubsidized affordable rental housing in an estimated 10-15 properties over 18-24 months with NOAH Impact Fund resources.

Responsibilities:

The position will work directly with outside professionals, including legal counsel, developers, owner-operators, lenders, local and state governments, and representatives of other intermediary organizations to assess project viability and bring funded projects to closing. The position is heavily weighted towards financial analysis, deal structuring, and resolving legal and technical issues that require knowledge and direct experience with private sector multifamily real estate development, acquisition, construction, rehabilitation, and property management issues. The position will conduct the following activities:
General Areas of Responsibility
o General leadership and oversight of the Fund’s operations and activities; and work in partnership with the CEO and other members of management team.
o Secure $25 million in investment commitments per biennium, including a blend of social impact capital and institutional investor capital.
o Identify prospective acquisitions, secure owner-operator, and conduct underwriting.
o Leadership of owner-operator recruitment and NOAH project identification.
o Secure necessary programmatic and economic commitments from owner-operators.
o Prepare transaction summaries, underwriting reports, and recommendations for internal investment committee and board.
o Obtain equity financing approvals from board, committees, and investors as needed.
o Ensure that social impact goals and compliance requirements are agreed to and fully met.
o Underwrite related project loans if quick strike acquisition or bridge financing is required.
o Work directly with attorneys and accountants to resolve legal and technical issues.
o Coordinate closing and required closing documents with legal counsel.
o Monitor rehabilitation work and budget and approve draws.
o Identify investor prospects including corporate, insurance, bank, and philanthropic investors.
o Manage investor relations, conduct presentations, and close investor commitments.
o Maintain communication and manage reporting with all investors in the Fund.
o Conduct project management and ensure all administrative functions are performed.
o Serve as point person for inquiries by owners, investors, and funders.
o Other duties and responsibilities as assigned.
Pre-closing/Underwriting
o Prepare and review multifamily real estate proformas.
o Conduct in-depth multifamily real estate project analysis.
o Supervise and work with staff underwriters to perform complete underwriting.
o Review key documents including title insurance, surveys, appraisals, rent rolls, scopes of work, building condition needs assessments, environmental assessments, market information, and other reports.
Asset Management
o Supervise asset management staff in monitoring, reporting, site visits, and risk ratings.
o Develop asset management improvement plans to meet management objectives.
o Maintain project files according to structure in an accessible and organized manner.
o Ensure financial and project reporting to investors, including quarterly and annual reports, annual K-1 forms, and annual audits.
o Support portfolio management and reporting on investment portfolio(s).
o Supervise and assist asset management staff with underperforming properties and workouts.
o Ensure the cash and tax benefits are determined accurately and timely delivered to the Fund and investors.

Requirements:

This position is an integral part of GMHF’s management team and will play a key role in the corporation’s continued success. The ideal candidate:
o Is a seasoned leader with a passion for social investing, community development, and public finance with a minimum of 10 years progressive business experience as a senior development professional in the field of multifamily real estate development, underwriting and/or public finance and private sector multifamily housing.
o Possesses proven skills in multifamily real estate finance and developer/investor relations. The position requires strong interpersonal and organizational skills, and the ability to work in a fast-paced environment with multiple priorities while meeting firm deadlines.
o Is extremely well-organized and self-directed, able to work in a high energy team environment with extensive interactions, and able to work independently.
o Is able to plan, schedule, and prioritize responsibilities, and work productively under strict time constraints, and organize and schedule tasks in support of multiple projects with a wide range of production and monitoring requirements.
o Is able to deal effectively with other dynamic internal staff, and external parties, including developers, owner-operators, investors, funders, government agencies, and the general public.
Additional qualifications include:
o Thorough understanding of partnership structures and partnership issues.
o Knowledge of multifamily real estate credit analysis, unsecured lending to nonprofit and for-profit organizations, and ability to underwrite multifamily real estate properties.
o Experience negotiating partnerships and closing multifamily transactions with investors.
o Proven track record of guiding multifamily real estate from predevelopment through closing, build-out, and lease-up.
o Excellent verbal communication skills, writing and publication skills.
o High tolerance for ambiguity and able to navigate uncertain situations.
o Ability to work on a variety of programs and projects simultaneously.
o Strong computer skills required in MS Office, high proficiency in Excel and Word.
o Master’s degree in business, finance, multifamily real estate development, planning or equivalent employment experience.

Compensation:

Negotiable

How to Apply:

email resume and cover letter to Rebecca Martin, COO, rmartin@gmhf.com

Development and Marketing Associate Partners for the Common Good
Washington, DC
Job Function: Other
Posted: February 20, 2019

Background:

Join a thought and innovation leader within the Community Development Financial Institution (“CDFI”) industry. Partners for the Common Good (“PCG”), a Washington, DC based national community development loan fund, is seeking a Development and Marketing Associate.

Founded in 2000, PCG’s mission is to advance economic justice and opportunity for low-income people and communities. We do this by partnering with CDFIs and socially motivated investors across the United States to serve borrowers that promote affordable housing, neighborhood revitalization, and healthy communities through support of education, community health centers, human service providers, day care and others.

PCG founded the CDFI industry’s first wholesale loan participation network that today has partnered with over 49 CDFIs in Washington, DC and 35 states and Washington, DC, originated over $99.4 million transactions, and developed a five-year strategic plan with an objective of growing its portfolio to $50 million.

PCG is leading the CDFI industry into the digital sector with the launch of its groundbreaking CapNexus.org on-line networking platform. CapNexus matches community development finance opportunities with sources of capital. The service is intended to build networks across the community development financial field that will bring more capital more efficiently to communities that need it most. The platform has 800+ users and has posted over $2 billion community development transactions.

PCG is also a leader in social impact assessment and public policy advocacy. Our work is pioneering in its creation of new tools and infrastructure for community development finance organizations to manage portfolios and grow scale and impact.

PCG’s office is located in Washington DC.

Position Summary:

PCG seeks a creative and dynamic candidate for the position of Development and Marketing Associate. The Associate will support fund raising, investor relations, social impact analysis, and online marketing and communications. This position reports to the Chief Business Development Officer, but works with and all members of the PCG team. This is a full time 40 hour per week position.

Responsibilities:

Marketing and Communications (50%)
1. Work with CapNexus users and sponsors to develop and write website postings, profiles, and newsletter content.
2. Engage in outreach activities to cultivate new CapNexus users and sponsors.
3. Design and prepare social media communications and outreach.
4. Assist with the redesign of the PCG website and continuously update the PCG and CapNexus website content.
5. Create Google analytics and Google AdWords to track user behavior and drive traffic to site.
6. Monitor website and ensure that it is working at an optimal performance at all times.
7. Assist in strategy development, planning and coordination of marketing and outreach initiatives directed at potential lending partners and borrowers.
8. Draft and coordinate production of all marketing and outreach materials to support funding raising, programmatic and other initiatives of PCG, including targeted mailings, press releases, and advertising.
9. Provide support for special events (e.g. annual investor meeting, conference exhibits).
10. Manage information flow and reporting in Salesforce database

Social Impact Assessment (30%)
1. Coordinate collection of annual social impact data and preparation of social impact reports.
2. Make recommendations for enhancements to social impact data collection and assessment tools and methodologies.
3. Write and coordinate production of borrower profiles and impact stories.
4. Work with lending and other team members on collection and use of social impact data.

Investors & Fund Raising (20%):
1. Assist in writing and preparation of grant and other funding proposals.
2. Develop proactive strategies to identify new prospects for investments and philanthropic support.

Requirements:

Qualifications:

This position requires an interest in public policy, finance, social media, and a passion for improving the lives of underserved communities. Other experience or skills that are highly desirable:

• Interest or experience in community development and/or financial services.
• A passion for economic justice and making the world a better place.
• A proactive self-starter with the ability to multi-task, excellent time management and organizational skills and attention to detail.
• Strong written and verbal communication skills.
• Good networking, relationship management, and customer skills.
• Positive demeanor and collaborative working style.
• Experience creating website content and using social media tools to build networks and ability to learn new technology quickly are a plus.
• Experience using Salesforce customer relationship management (CRM) solutions is a plus.
• Basic computer and research skills along with familiarity with MS Office (Excel, Word, and PowerPoint) and the internet is a MUST.
• A bachelor’s degree in communications, economics, business administration or related fields are desired.
• Applicants must be a U.S. citizen.

Compensation:

Competitive nonprofit sector salary commensurate with experience. Collegial work environment. Good benefits package available.

How to Apply:

Interested individuals should submit an application, including a resume, cover letter, brief writing sample and references on our website: http://www.pcgloanfund.org/development-and-marketing-associate

NO TELEPHONE CALLS PLEASE.

Relationship Manager, Tax Credit Lending USBank/Community Development Corp.
can be seated near any major metro area, All
Job Function: Financial Services
Posted: February 14, 2019

Background:

Tax Credit Lending Relationship Manager, Specialty Finance, CDC Community Finance Solutions
Job Location: National

Job Description
U.S. Bancorp Community Development Corporation (USBCDC) provides tax credit investments, loans, and banking services to organizations and projects that support affordable housing and economic development in underserved communities across the country.

The Tax Credit Lending Relationship Manager position is part of the Specialty Finance team within USBCDC. Specialty Finance provides loans, investments, and banking services to Low Income Housing Tax Credit (LIHTC) Syndicators, Community Development Financial Institutions (CDFIs), Affordable Housing Consortiums, and to New Markets Tax Credit and Historic Tax Credit transactions. The Tax Credit Lending Relationship Manager will report to the Director of Specialty Finance, and will work closely with staff across the department and the bank.

The Tax Credit Lending Relationship Manager position represents an exciting opportunity to be a key player on a growing team, and to lead the build-out and launch of a new line of business within USBCDC focused on tax credit lending.

Position Summary:

Key responsibilities will include:
• Source, structure, underwrite, and close loans related to New Markets Tax Credit and Historic Tax Credit transactions, to either commercial real estate projects and/or to commercial borrowers or sponsors.
• Partner with staff across USBCDC and the Bank overall to source tax credit lending opportunities.
• Source new business through establishing and deepening relationships with existing and prospective clients, notably CDFIs and other NMTC CDEs.
• Prepare comprehensive written credit memos, and recommend credit approval to USBCDC senior management and USB credit risk management.
• Underwrite the financial strength of a transaction sponsor, the viability of the underlying commercial real estate project, and the transaction’s overall financing structure.
• Ensure that subject transactions are underwritten in compliance with U.S. Bank credit policy.
• Negotiate legal documentation with borrowers, in coordination with internal and external legal counsel.
• Coordinate with USBCDC Deposit & Payment Solutions team to provide banking services and products to customers.
• Coordinate with portfolio managers and loan servicing team to manage existing relationships, including completion of annual reviews, ongoing covenant compliance, and internal credit audits.
• Serve as a point person for Relationship Managers across U.S. Bank lines of business to source tax credit lending opportunities, vet transactions, help structure project or commercial financing, and provide overall education of the New Markets Tax Credit and Historic Tax Credit programs.

Responsibilities:

Key responsibilities will include:
• Source, structure, underwrite, and close loans related to New Markets Tax Credit and Historic Tax Credit transactions, to either commercial real estate projects and/or to commercial borrowers or sponsors.
• Partner with staff across USBCDC and the Bank overall to source tax credit lending opportunities.
• Source new business through establishing and deepening relationships with existing and prospective clients, notably CDFIs and other NMTC CDEs.
• Prepare comprehensive written credit memos, and recommend credit approval to USBCDC senior management and USB credit risk management.
• Underwrite the financial strength of a transaction sponsor, the viability of the underlying commercial real estate project, and the transaction’s overall financing structure.
• Ensure that subject transactions are underwritten in compliance with U.S. Bank credit policy.
• Negotiate legal documentation with borrowers, in coordination with internal and external legal counsel.
• Coordinate with USBCDC Deposit & Payment Solutions team to provide banking services and products to customers.
• Coordinate with portfolio managers and loan servicing team to manage existing relationships, including completion of annual reviews, ongoing covenant compliance, and internal credit audits.
• Serve as a point person for Relationship Managers across U.S. Bank lines of business to source tax credit lending opportunities, vet transactions, help structure project or commercial financing, and provide overall education of the New Markets Tax Credit and Historic Tax Credit programs.

Requirements:

Basic Qualifications
• Bachelors or Master’s degree in finance, accounting, or related field
• 7+ years of commercial lending, commercial real estate lending, and/or not-for-profit lending experience

Preferred Qualifications
• Ability and desire to take ownership and lead the launch of an emerging line of business
• Strong business development and relationship management experience
• Strong commercial lending and commercial real estate loan underwriting skills
• Extensive knowledge of the New Markets Tax Credit program and Historic Tax Credit program
• Experience with financing to different real estate property types, including multifamily housing, schools, healthcare centers, and office buildings
• Ability to lead and drive new transactions through credit approval and loan closing
• Excellent written, verbal, and presentation communication skills
• Ability to work effectively with individuals and groups in managing customer relationships
• Ability to organize and manage multiple projects and priorities to meet deadlines
• Knowledge of the community development industry, notably the CDFI industry
• MBA, CFA, or CPA is a plus

Compensation:

An attractive and highly competitive base and bonus arrangement.
Extensive Health Care Benefits Program
Generous funding of retirement programs

How to Apply:

Use the Link below to apply directly. https://usbank.taleo.net/careersection/10000/jobdetail.ftl?job=180046187&tz=GMT-06%3A00&tzname= OR contact Recruiter Emily Kennedy at emily.kennedy1@usbank.com.

Sr Associate Compliance and Portfolio Management Housing Partnership Network
Boston, MA
Job Function: Lending/Loan Operations
Posted: February 14, 2019

Background:

Housing Partnership Network (HPN) is an award - leading affordable housing and community development nonprofits, and a top-rated CDFI. Creating private sector partnerships and enterprises that achieve ambitious social missions, HPN and its member organizations work together to scale innovation and impact, helping millions of people gain access to affordable homes and thriving communities that offer economic opportunity and an enhanced quality of life.

HPN, primarily through its affiliate, The Housing Partnership Fund, provides capital to HPN members for the development and operation of affordable housing and community development projects for the benefit of low and moderate income families and individuals. The Fund raises capital from major private, public and philanthropic institutions to drive impact through its lending to members and to HPN social enterprises.

Position Summary:

Under the supervision and direction of the Director, Portfolio Management, the Senior Associate, Lending will be responsible for supporting our growing lending business, by managing our portfolio of affordable housing loans (currently $50MM+). The incumbent will also provide support to the Director, Lending by underwriting new loan opportunities. The Senior Associate, Lending will work collaboratively with staff on other projects, including identifying and implementing system enhancements for our portfolio management.

Responsibilities:

Asset Management/Portfolio Reporting

  • Work with borrowers to ensure timely receipt of required financial reporting and track covenant compliance
  • Analyze borrower financial reporting and track borrower performance against underwritten pectations
  • Lead or participate in asset management calls with borrowers
  • Compile quarterly asset management package for internal review and presentation to Creditality Committee and HPF Board
  • Compile portfolio reports as required by management, investors and other stakeholders
  • Collect and organize financial and social impact data both for compliance and as needed to support organizational grant applications

Loan Servicing

  • Input transactions into and maintain loan servicing system (Nortridge), and generate monthly portfolio reports for finance/accounting purposes
  • Generate monthly invoices and manage collections from borrowers and disbursements to participating lenders
  • Create “welcome packages” for new borrowers; process draw requests; generate payoff letters
  • Support Director, Portfolio Management in loan closings, maintaining closing checklists and loan files
  • Monitor and manage CDFI Fund certifications and compliance reporting
  • Contribute to the evolution of the Lending team’s systems- including Salesforce, Nortridge and Smartsheet and integrating where efficient with HPN’s systems
  • Support peer exchange efforts with members, particularly around member meeting session
  • planning
  • Assist with other portfolio management, compliance, and analytical functions, as needed

Requirements:

Qualifications

  • Bachelor’s degree
  • 3+ years’ experience in lending, banking, accounting or finance
  • Experience in community development finance industry helpful
  • Strong organizational, analytical, logical and problem solving skills
  • Excellent attention to accuracy and detail
  • Ability to manage multiple projects and deadlines
  • Familiarity with financial statements, including spreading and analysis
  • Ability to understand loan documentation
  • Excellent interpersonal skills and customer service orientation
  • Excellent oral and written communication skills
  • Experience with Microsoft Office applications, particularly Excel
  • Familiarity with Salesforce a plus
  • Ability to work independently and as a team player with staff at various levels of the organization
  • Sense of humor, respect and curiosity are a must!

Other

  • Position is located in Boston, MA
  • Minimal travel required

Compensation:

Depends upon the experience

How to Apply:

https://sforce.co/2SBLClW

Chief Lending Officer - Baltimore Neighborhood Impact Investment Fund Baltimore Neighborhood Impact Investment Fund
Baltimore, MD
Job Function: Credit
Posted: February 7, 2019

Background:

The Baltimore Neighborhood Impact Investment Fund (NIIF) is a newly established financial intermediary focused on Baltimore City. Capitalized by approximately $50 million provided by the City of Baltimore, the NIIF is a public-private partnership with a mission to serve as a catalyst for investment in underserved neighborhoods by delivering financing to support commercial and residential projects, as well as business lending, in order to drive economic revitalization, job growth and improved quality of life. Eligible areas for investment comprise approximately 65% of the City, with a priority focus on specific neighborhood clusters. Operating as an independent 501(c)(3), NIIF is designed to collaborate with the public, private and philanthropic sectors to create growth and opportunity in underserved neighborhoods and markets. NIIF's board is comprised of a majority independent directors, as well as representatives of Baltimore City government to ensure accountability and alignment with policy and resource priorities.

Position Summary:

The Chief Lending Officer (CLO) will manage NIIF’s lending and investment activities and play a key role in the development, management, and successful execution of NIIF’s transaction pipeline in accordance with the NIIF’s investment standards. The Chief Lending Officer will report the Chief Executive Officer of NIIF and will be supported by an external Fund Manager and other consultants as necessary. As the NIIF grows, a Portfolio Manager is also expected to be added to the team. As NIIF is a start-up, the CLO will, by necessity, need to be a self-motivated, hands-on, highly-resourceful individual able to thrive in an entrepreneurial environment and willing to roll up his/her sleeves and get the job done. The CLO will be a key public face of NIIF and will be expected to help position the Fund within the Baltimore City community development market with borrowers, partners and other stakeholders.

Responsibilities:

The specific areas of responsibility for this position include, but are not limited to:
• Working with the CEO, Fund Manager and Board to shape and implement credit policies across product offerings and revise these policies as appropriate;
• Identifying, evaluating and structuring new transactions within NIIF’s eligible investment areas
• Working closely with prospective borrowers and co-lenders to execute an initial credit screen of transactions and sponsors, ensuring that preliminary specifications of the proposed transactions align with terms from NIIF’s investors and its own internal lending and credit policies;
• Working with prospective borrowers and co-lenders to assemble and provide complete due diligence packages to the Fund Manager;
• Overseeing Fund Manager in credit analysis, shaping of transaction terms and preparation of transaction approval memos in conformance with approved credit policies;
• Managing loan closing and funding in cooperation with Fund Manager, and working in coordination with the Fund’s accounting/loan administration services provider to approve draws as appropriate;
• Overseeing Fund Manager in ongoing loan monitoring and assignment of risk ratings;
• Facilitating meetings of the Board’s Investment Committee, as needed;
• Working with stakeholders to develop and evaluate new, viable investment products responsive to the needs of community development efforts in historically disinvested communities;
• Administering portfolio composition to balance risk; and
• Working with the Fund Manager to execute asset management strategies, including managing delinquent loans and workouts as needed.

The Chief Lending Officer will report to the CEO.

Requirements:

• At least Seven (7) years of progressive responsibility within the housing and community development finance sector, or closely related fields, including 5 years of direct lending and investment.
• Strong lending and investment underwriting knowledge, with an understanding of the unique
characteristics of community development finance.
• At least four (4) years of supervisory experience in substantive positions requiring the ability to formulate and implement policy and work with diverse partners.
• Strong relationship management skills with the target market of community-based development organizations, commercial developers, and small businesses.
• Bachelor’s Degree or equivalent experience. Graduate degree in a relevant subject (e.g., real estate finance, business, urban planning, or public policy) is a plus.
• Experience and knowledge of the Baltimore housing and community development construction and lending markets.
• Established track record in building effective collaborations among stakeholders in community development initiatives.
• The ability to identify and engage diverse public and private stakeholders in an effort to successfully implement the NIIF’s mission.
• Experience and knowledge of city, state and federal housing programs and regulatory requirements, including Community Development Financial Institutions, is a plus.

Compensation:

Salary and Benefits - Commensurate with experience.

How to Apply:

To apply, e-mail resume, cover letter and salary requirements to: jobs@baltimorefund.org (e-mail applications are required).

Naturally Occurring Affordable Housing Multifamily Loan Originator Greater Minnesota Housing Fund
St. Paul, MN
Job Function: Other
Posted: February 6, 2019

Background:

Greater Minnesota Housing Fund (GMHF) is Minnesota’s leading nonprofit affordable housing lender. More than just a lender, GMHF is known for its innovation and its creative approaches to Minnesota’s affordable housing challenges. 

GMHF is Minnesota's largest non-profit certified community development finance institution (CDFI) serving housing development organizations, local governments and builders & developers with loans & grants, permanent financing, tax credit equity, technical assistance, research and policy analysis. Concentrations in affordable rental housing, home ownership, sustainable development, supportive housing with services, housing preservation, neighborhood revitalization, and the preservation of naturally occurring affordable housing. Minnesota Equity Fund (MEF) is GMHF's low income housing tax credit syndication subsidiary capitalized with $50 million in initial investor equity. MEF invests in affordable multifamily housing developments in Minnesota and other states. NOAH Impact Fund (NOAH) is GMHF’s naturally occurring affordable housing subsidiary. NOAH targets rental properties at risk of conversion to higher rents and the threat of displacement of low- and moderate-income residents. 

GMHF is certified by the Department of Treasury as a Community Development Financial Institution (CDFI), and is a 501(c)(3) nonprofit organization founded in 1996 to address the affordable housing needs of Minnesota’s under-served areas including cities, towns, rural areas, and tribal nations. GMHF is rated Four-Star, AA Policy Plus by Aeris and is a member of the Federal Home Loan Bank of Des Moines. 

Position Summary:

Greater Minnesota Housing Fund (GMHF) is seeking a multifamily real estate finance expert to launch a new mezzanine loan fund within GMHF’s Community Development Finance Institution (CDFI) Division. The new loan fund (the “Small NOAH Fund”) is available to provide financing for unsubsidized multifamily properties of 4-40 units. The ideal candidate will demonstrate knowledge and expertise in financing multifamily real estate, have proven ability to develop new business relationships to drive loan volume. This is a newly created position with primary responsibility for deployment of the Small NOAH Fund through the origination of multiple loan products both directly, using GMHF capital, and through strategic partnerships with other lenders in this space. This position is heavily weighted towards financial analysis and deal structuring and requires technical expertise in private sector real estate development, acquisition, construction, rehabilitation, and asset management. This position reports to the Director of Lending and Programs and plays a key role in the continued success of the CDFI. 

Responsibilities:

New Business Development: Implement business development strategy to engage new and existing borrowers in preservation of smaller scale affordable housing properties to advance GMHF’s strategic goals and drive community impact through investments by the Small NOAH Fund.

  • Develop cross-selling partnerships with lenders active in the Small NOAH market to identify borrower prospects and secure mezzanine loan referrals for the Small NOAH Fund.
  • Identify key lending targets include real estate developers, owner-operators of existing multifamily properties, public agencies, and community organizations.
  • Develop and maintain pipeline of loans to achieve an over-commitment ratio of 120% (committed loans as a percentage of Small NOAH fund capital)
  • Coordinate with the Director of Communications, Senior Management, and consultants as needed to develop marketing materials and platform, promote the Small NOAH Fund, and communicate goals and impacts to borrowers, lending partners, funders and other key stakeholders.
  • Conduct outreach through presentations and participation at industry conferences, direct outreach through professional network, and engagement with governmental partners and community groups in key markets.

Capital Raising: Promote the Small NOAH Fund to potential investors and assist in securing additional investments to grow the fund.

  • Identify potential investors in the Small NOAH Fund and develop outreach work plan, goals, and targets.
  • Coordinate with Director of Communications, Senior Management, and consultants as needed to prepare materials for distribution to potential investors, organize investor calls and meetings as needed, and ensure prompt and responsive follow-up to all requests for information by current and prospective investors. C. Loan Origination: Execute tasks required for the successful completion of the loan approval and closing process with primary responsibility for deal structuring and credit analysis.
  • Gather necessary documents and perform due diligence review of all relevant project information including surveys, appraisals, rent rolls, scopes of work, building condition needs assessments, environmental assessments, market information, and other reports
  • Prepare project proformas and conduct project feasibility analyses
  • Coordinate with GMHF’s Senior Underwriter to secure underwriting sign-off
  • Prepare written credit reports and present loan recommendations for review and approval by applicable governance committees
  • Maintain proper documentation of all funding awards and decisions
  • Finalize loan terms with borrowers
  • Prepare and review loan documents in consultation with legal counsel
  • Coordinate with GMHF’s Closing Manager to ensure timely and accurate closing and funding of approved loans
  • Provide technical assistance to borrowers, project partners, and other stakeholders as needed to overcome barriers to project success and/or timely completion.

Small NOAH Fund Performance Reporting: Track and report on key metrics to ensure that social impact goals are monitored and fully met.

  • Establish Small NOAH Fund performance benchmarks taking into consideration all investor requirements and GMHF’s strategic goals and priorities for review and approval by Director of Lending and CEO.
  • Develop and implement system for tracking performance benchmarks and report results to Senior Management on a monthly basis. Coordinate all reporting with the Loan Portfolio and Data Analyst.

Other duties and responsibilities as assigned.

Requirements:

Professional Qualifications

  • Is an emerging leader with a passion for social investing, community development, and multifamily finance with a minimum of 5 years progressive professional experience in the field of multifamily real estate finance, underwriting and/or commercial real estate lending.
  • Possesses proven skills in multifamily real estate finance and small commercial lending.
  • Is extremely well-organized and self-directed, able to work in a high energy team environment with extensive interactions, and able to work independently.
  • Is able to plan, schedule, and prioritize responsibilities, and work productively under strict time constraints, and organize and schedule tasks in support of multiple projects with a wide range of production and monitoring requirements. The position requires strong interpersonal and organizational skills, and the ability to work in a fast-paced environment with multiple priorities while meeting firm deadlines.
  • Is able to deal effectively with other dynamic internal staff, and external parties, including developers, owner-operators, investors, funders, government agencies, and the general public.

Additional qualifications include:

  • Thorough understanding of partnership structures and partnership issues.
  • Knowledge of multifamily real estate credit analysis, unsecured lending to nonprofit and for- profit organizations, and ability to underwrite multifamily real estate properties.
  • Experience negotiating partnerships and closing multifamily transactions with investors.
  • Excellent verbal communication skills, writing and publication skills.
  • High tolerance for ambiguity and able to navigate uncertain situations.
  • Ability to work on a variety of programs and projects simultaneously.
  • Strong computer skills required in MS Office, high proficiency in Excel and Word. o Bachelor’s degree in business, finance, multifamily real estate development, planning or equivalent employment experience.

Compensation:

Negotiable

How to Apply:

Email resume and cover letter to alancaster@gmhf.com

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