Background:
Neighborhood Trust is one of the nation’s leading providers of financial empowerment services and products. Our mission is to empower low-income individuals to become productive participants in the U.S. financial system and achieve their financial goals.
For 20 years, Neighborhood Trust has been responding to growing financial inequality, which particularly affects low-income families, by partnering with them to achieve their goals and change their future. Since our inception, Neighborhood Trust has helped over 40,000 clients and we’ve been named one of NYC’s most innovative nonprofits.
Neighborhood Trust’s team has expanded to include more than 50 talented and passionate individuals. Come work with our dynamic, positive and creative team and join us in promoting financial empowerment for all. We are an Equal Opportunity Employer and provide a comprehensive benefits package to all full-time employees.
Position Summary:
Neighborhood Trust Financial Partners (NTFP) seeks a goal-driven, mission-aligned Financial Counselor to deliver our full package of financial empowerment services to low- and moderate- income individuals. These services include individualized financial counseling, personal finance courses, and ongoing support to clients as they pursue financial health and build wealth.
ABOUT NEIGHBORHOOD TRUST
Neighborhood Trust’s mission is to empower low-income individuals to become productive participants in the U.S. financial system and achieve their financial goals. Neighborhood Trust serves nearly 9,000 clients each year via its elite corps of specially trained Financial Counselors and is an industry leader in the financial inclusion field. We are cultivating our model as a scalable social venture that incubates technology-led financial services innovations for low-wage workers. We are growing quickly with strong support from leading foundations and strategic partners, helping us achieve national scale. Neighborhood Trust has received awards and recognition as a leading innovative nonprofit seeking to alleviate poverty and as a developer of financial solutions.
POSITION DETAILS
Financial Counselors assess clients through one-on-one financial counseling and then develop and implement a personalized action plan to help clients improve their financial situation and pursue their goals. In addition to individualized financial counseling, Financial Counselors may also deliver personal finance courses for groups. Financial Counselors require excellent judgement and must exercise professional discretion to accurately assess each client’s unique situation and effectively develop personalized plans of action. These plans include concrete recommendations around debt reduction, credit improvement, money management, optimal use of financial services, asset-building and the pursuit of short- and long-term goals.
The services offered by Financial Counselors are scheduled to meet the needs of our clients. As such, schedules include evenings, early mornings and weekends and are often delivered at community-based organizations, financial institutions and employer partner locations. Financial Counselors work with a high degree of independence, embedded within partner organizations for significant amounts of their assigned work time, often serving as the sole on-site representative for NTFP. Financial Counselors must successfully complete Neighborhood Trust’s Financial Empowerment Training – 160 hours of full-time instruction on technical elements of personal finance.
Responsibilities:
Principal Responsibilities
- As part of an innovative and dynamic organization, the position is actively evolving and responsibilities change as services are refined and new partnerships are developed. The following are responsibilities assigned to Financial Counselors depending on details of work assignment.
- Work directly with clients to provide high-quality financial counseling and education via individualized counseling model and personal finance course, including the creation of personalized Financial Action Plans
- Provide ongoing support and actively engage program participants to promote financial health
- Communicate with clients via telephone, SMS, email and interactive web platform to follow up on progress towards achieving financial goals
- Participate in cross-training and cross-referrals with host sites
- Document services and gather session data for program reporting and evaluation
- Achieve program goals for client impact and service outputs, working with referral partners and taking initiative with client outreach and engagement
- Deliver persuasive presentations on our services to potential clients or referral partners
- Promote our services and recruit new clients at site-sponsored information sessions or other similar opportunities
- Participate in regular team meetings and continued skill-building training sessions
- Research financial products, consumer rights, and additional resources on an ongoing basis and as needed specifically for cases
- Represent NTFP in media inquiries, at events within field, and in communication with peer organizations
Requirements:
Required Qualifications
- Bachelor’s degree or equivalent
- Experience required in specialized counseling training for providing financial empowerment services to low and moderate-income individuals. o Applicants without prior training but who have professional (or relevant) knowledge about personal finance (money management, savings, financial products/services or consumer rights) may be considered for the position but must complete NTFP’s 160 hour Financial Empowerment Training course upon hire and successfully pass all exams in order to serve in position.
Required Skills and Attributes
- Self-motivated - ability to work independently and meet deadlines without supervision
- Excellent communication and interpersonal skills; counseling and teaching/facilitation skills preferred, especially with adults or in non-traditional settings
- Knowledge-based and training-based professional judgement and discretion to adapt services as needed
- Strong attention to detail
- Critical thinking
- Ability to take ownership of continued learning and personal finance research
- Effectively receive and implement supervisory feedback
- Must effectively communicate in English and Spanish
Compensation:
Competitive salary and benefits package offered
How to Apply:
To apply please send resume and cover letter to hr@neighborhoodtrust.org with the subject line “Financial Counselor”
Background:
The National Community Reinvestment Coalition (NCRC) is an association of more than 600 community-based organizations that promotes access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America’s working families.
In 2007, NCRC established a subsidiary community development financial institution (CDFI), the National Community Reinvestment Coalition Community Development Fund, Inc. (NCRC CDF). NCRC CDF has been certified by U.S. Treasury as a Community Development Financial Institution (CDFI) since 2012.
NCRC is seeking a new Executive Director to lead NCRC CDF starting in mid-2018. In addition to management of the CDFI, the Executive Director will guide CDF’s expanding financing strategy.
Since its creation, NCRC CDF delivered loan capital to minority- and woman-owned businesses in the DC Metropolitan Statistical Area. In 2014, NCRC CDF began expanding its reach in the field of economic and community development, with a principal focus on NCRC’s GROWTH Initiative. GROWTH (Generating Real Opportunities for Work through Housing), is NCRC’s signature community development initiative. GROWTH purchases and renovates (or builds) single family homes with the goal of providing low- and moderate-income families pathways to homeownership and stabilizing property values in low- and moderate-income communities. GROWTH does this while linking workforce training and homebuyer counseling to people and neighborhoods we serve. NCRC CDF plays a critical role in the success of this effort, working with major investors and channeling capital. The investment fund now approaches $100 million.
Position Summary:
The Executive Director of NCRC CDF will be the Fund’s entrepreneurial leader, primary fundraiser, and manager. The Executive Director will report to NCRC CDF’s Board of Directors and to the Chief Community Development Officer (CCDO) of NCRC. S/he will be responsible for developing and refining broad strategy and annual work plans, setting priorities for initial lending activities, and supervising the Fund’s staff that the Board Chair and the CCDO approve.
The Executive Director will be the public face of NCRC CDF at trainings, forums, press and media events, and conferences of peer organizations within the community development finance world. At the same time, as the leader of an entrepreneurial and growing organization, functions and duties that eventually may be executed by additional personnel will be handled by the Executive Director.
Responsibilities:
1. Product Development
- Develop, under the direction of the Chief of Community Development, a business plan that attracts funds to the CDFI – debt, equity, EQ2 and grants – to be utilized in NCRC’s Housing Rehab Fund and future funds.
- Continue to build small business loan portfolio based on current loan products: microloans and small business loans to emerging low-income entrepreneurs in the DC MSA.
- Develop and manage new program soon-to-be-launched, which will provide loans to businesses owned by returning citizens (ex-offenders) in the DC area.
- Create programming to ensure that NCRC CDF provides directly or through partnerships development services, e.g, that small business borrowers receive appropriate technical assistance from NCRC CDF and/or partners, including DC Women’s Business Center and Small Business Division
- Collaborate with the NCRC Women’s Business Center and Small Business Division to develop a pipeline of potential clients for lending.
- Assess and recommend strategy for making mortgage products available to purchasers of properties through NCRC’s GROWTH Initiative or to NCRC members with competent CDFIs, including:
- Coordinate the development of the Lease Backed Assumable Mortgage with industry partners.
- Originate single family mortgage product.
- Underwrite borrowers and assets financed.
- Manage related regulator and compliance issues.
- Coordinate funding and liquidity options with Federal Home Loan Bank, HUD, and other agencies.
- Coordinate participating bank partners for additional liquidity and funding capacity.
2. Underwriting and Loan process management
- Underwrite applications for both the small business products and housing development/pre-development lending.
- Present loan packages to the loan committee for review and action.
- Monitor loan performance and implement corrective procedures for problem loans.
- Ensure that loan policy and procedures are followed and updated as needed through board approval.
3. Fundraising & Capitalization
- Develop strong relationships with current investors and cultivate relationships with potential investors to secure the capital resources and the operating support necessary to meet NCRC CDF’s goals.
- Establish and maintain relationships with key staff at federal agencies that support affordable housing and redevelopment and micro lending and CDFIs, including the CDFI Fund at the U.S. Department of the Treasury, the Federal Housing Administration, and the PRIME program at the Small Business Administration.
- Identify and pursue grant funding opportunities on a regular basis.
- Communicate with investors, grant funders, and NCRC CDF’s Board about the financial and operational health of the Fund.
- Assume primary responsibility for acquiring sufficient financial capital in appropriate forms and operating support, as needed, to ensure smooth operations and steady growth of NCRC CDF.
4. Compliance and Reporting
- Ensure compliance with all conditions/covenants in loan agreements, equity equivalent agreements, and other grant agreements.
- Ensure compliance with all CDFI Fund/US Treasury requirements and complete requisite reports through AMIS, both with respect to certification and any federal grants received.
- Ensure compliance with all Board and NCRC organizational requirements, policies, and practices.
5. Manage office and staff
- Determine staffing needs of the NCRC CDF and create an efficient and effective staffing plan
- Recruit, hire, and supervise a well-qualified and capable staff.• Ensure that customer service, loan production, portfolio and fiscal management, and reporting systems are high-quality and efficient.
- Maintain a solid understanding of the different programmatic components that comprise NCRC CDF.
- Develop collaborative relationship with NCRC’s investment manager and others working with that firm to enable seamless investment strategy that supports NCRC’s GROWTH Initiative.
Requirements:
QUALIFICATIONS:
- Graduate degree in business, real estate development or other related field. Additional professional experience may substitute for an advanced degree;
- At least 5 years of executive-level management experience, including experience with risk management for a lending institution, experience working with government programs that assist small business lending and micro lending, and extensive experience with business financing;
- Demonstrated broad knowledge of and contacts within the banking and/or the community development finance field related to housing and mortgage finance and systems that oversee the investment of NCRC’s CDF directly or indirectly with joint venture partners at the national and local levels;
- Familiarity with and experience working with the CDFI Fund at the U.S. Department of the Treasury.
- Proven track record of raising private, public and foundation capital and operating support;
- Outstanding oral and written communication skills;
- Strong strategic planning and financial analytical skills;
- Widely recognized leadership and personnel management skills;
- Reputation for creativity and innovation in achieving goals;
- Interest in working with diverse communities and organizations;
- A collaborative personal style that works in partnership with others both internally and externally;
- Clear commitment to the success of minority and women entrepreneurs.
Compensation:
Commensurate with experience.
How to Apply:
Please apply through NCRC's website https://ncrc.applicantpro.com/jobs/812600
Background:
TruFund Financial Services, Inc. (“TruFund”) is a is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund. Headquartered in New York City, our mission is to promote and foster economic development within underserved communities and among disadvantaged populations. As a nonprofit, mission-driven entity, we offer access to affordable loan capital and business development services to small businesses and nonprofit organizations that are financially viable but have difficulty accessing affordable capital from banks or other conventional lenders. We also have field offices in Louisiana (New Orleans and Baton Rouge) and Alabama (Birmingham).
Position Summary:
The Loan Underwriter prepares and writes a comprehensive credit risk analysis/memorandum on new or existing customers and provides recommendations to the senior team for approval. Transactions include, but are not limited to loans to small business owners, nonprofit organizations and commercial/residential real estate developers (mainly in the affordable housing domain) and professional contractors. Loan products are varied and include term loans and contractor mobilization loans. Loan amounts generally range from $50,000 to $750,000.
Responsibilities:
Primary Job Functions:
- Evaluate the creditworthiness of new/existing borrowers and their ability to repay loans under the terms of our contractual agreement.
- Analyze the historical financial statements of the borrower and build cash flow projections that could be sensitized or stress-tested.
- Develop appropriate loan and credit structures and ensure same is reflected in the a negotiated term sheet and other relevant credit-related documentation.
- Engage with loan originators to seek out information and/or gather updates on the borrowers. Interactions with loan originators may include negotiations pertaining to the structure of the loan and site visits.
- Prepare a complete credit analysis (including the assignment of a risk grade) to be presented to the Senior Credit Team for approval.
- Ensures that approval of new loan requests comply with loan underwriting, product and program policies and procedures as well as with TruFund risk appetite.
- Monitor periodically the status of loans that are on a watch list and/or warrant close monitoring (i.e., quarterly reviews, payment history, covenant compliance).
- Manages timing and application pipeline, and expects at times to work under a tight deadline.
- Assist in keeping credit documentation organized both physically and digitally.
- Remains up to date and knowledgeable on internal policies and procedures.
- Establish site visit or new and existing loans.
- Interact with all levels of management and external customers.
Requirements:
Education and Related Work Experience:
- BA/BS degree, preferably in accounting, finance or economics is required. Master’s degree a plus.
- Minimum of 3-5 years credit and financial experience in bank lending, community development lending, credit analysis, or loan review function. Credit training from a banking institution a plus.
- Prior work experience with community development, Small Business Administration (7A, Community Advantage) loan programs and New Markets Tax Credit program are a plus.
Knowledge, Skills and Abilities:
- Thorough knowledge of complex personal and business financial analysis and an expertise in assessing Income Statements, Balance Sheets and Cash Flow Statements. Understanding financial information extracted from tax returns is highly desired.
- Strong knowledge of small business, nonprofit, commercial real estate loans including appraisals and land surveys.
- Solid analytical skills (i.e., Microsoft Office) including Excel modeling skills.
- Understanding of community development.
- Ability to work under pressure.
- Excellent written and verbal communication skills.
- Keen at problem solving.
- Strong interpersonal and organizational skills.
- Detail oriented. Highly motivated and team player.
Compensation:
N/A
How to Apply:
Please email your resume and cover letter with salary requirements in MS Word format to kevans@trufund.org
Place “Loan Underwriter” in the subject line of your e-mail.
We appreciate all responses, but due to the high volume of resumes usually received, we only contact those applicants whose qualifications best match the position requirements.
TruFund Financial Services is proud to be an Equal Opportunity Employer.
Background:
TruFund Financial Services, Inc. (“TruFund”) is a is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund. Headquartered in New York City, our mission is to promote and foster economic development within underserved communities and among disadvantaged populations. As a nonprofit, mission-driven entity, we offer access to affordable loan capital and business development services to small businesses and nonprofit organizations that are financially viable but have difficulty accessing affordable capital from banks or other conventional lenders. We also have field offices in Louisiana (New Orleans and Baton Rouge) and Alabama (Birmingham).
Position Summary:
The Loan Underwriter prepares and writes a comprehensive credit risk analysis/memorandum on new or existing customers and provides recommendations to the senior team for approval. Transactions include, but are not limited to loans to small business owners, nonprofit organizations and commercial/residential real estate developers (mainly in the affordable housing domain) and professional contractors. Loan products are varied and include term loans and contractor mobilization loans. Loan amounts generally range from $50,000 to $750,000.
Responsibilities:
- Evaluate the creditworthiness of new/existing borrowers and their ability to repay loans under the terms of our contractual agreement.
- Analyze the historical financial statements of the borrower and build cash flow projections that could be sensitized or stress-tested.
- Develop appropriate loan and credit structures and ensure same is reflected in the a negotiated term sheet and other relevant credit-related documentation.
- Engage with loan originators to seek out information and/or gather updates on the borrowers. Interactions with loan originators may include negotiations pertaining to the structure of the loan and site visits.
- Prepare a complete credit analysis (including the assignment of a risk grade) to be presented to the Senior Credit Team for approval.
- Ensures that approval of new loan requests comply with loan underwriting, product and program policies and procedures as well as with TruFund risk appetite.
- Monitor periodically the status of loans that are on a watch list and/or warrant close monitoring (i.e., quarterly reviews, payment history, covenant compliance).
- Manages timing and application pipeline, and expects at times to work under a tight deadline.
- Assist in keeping credit documentation organized both physically and digitally.
- Remains up to date and knowledgeable on internal policies and procedures.
- Establish site visit or new and existing loans.
- Interact with all levels of management and external customers.
Requirements:
Education and Related Work Experience:
- BA/BS degree, preferably in accounting, finance or economics is required. Master’s degree a plus.
- Minimum of 3-5 years credit and financial experience in bank lending, community development lending, credit analysis, or loan review function. Credit training from a banking institution a plus.
- Prior work experience with community development, Small Business Administration (7A, Community Advantage) loan programs and New Markets Tax Credit program are a plus.
Knowledge, Skills and Abilities:
- Thorough knowledge of complex personal and business financial analysis and an expertise in assessing Income Statements, Balance Sheets and Cash Flow Statements. Understanding financial information extracted from tax returns is highly desired.
- Strong knowledge of small business, nonprofit, commercial real estate loans including appraisals and land surveys.
- Solid analytical skills (i.e., Microsoft Office) including Excel modeling skills.
- Understanding of community development.
- Ability to work under pressure.
- Excellent written and verbal communication skills.
- Keen at problem solving.
- Strong interpersonal and organizational skills.
- Detail oriented. Highly motivated and team player.
Compensation:
Negotiable
How to Apply:
TPlease email your resume and cover letter with salary requirements in MS Word format to kevans@trufund.org
Place “Loan Underwriter” in the subject line of your e-mail.
We appreciate all responses, but due to the high volume of resumes usually received, we only contact those applicants whose qualifications best match the position requirements.
TruFund Financial Services is proud to be an Equal Opportunity Employer.
Background:
The National Development Council (NDC) is the oldest national non-profit community and economic development organization in the United States. NDC was founded in 1969 with a mission of increasing the flow of capital for investment, jobs and community development to underserved urban and rural areas across the country. For additional information about NDC, please visit http://www.ndconline.org/
Position Summary:
Field Director (Directors) deliver NDC’s core services, including technical assistance and capacity building, to local governments and non-profit corporations. NDC Field Directors provide expert technical assistance and development services for commercial and residential development and small business expansion. NDC’s services and products are used to leverage private investment and make determinations for appropriately sizing public financial incentives in order to attract maximum private investment.
Responsibilities:
NDC seeks to add another full-time Field Director for its eastern United States team. A candidate based in the New York tristate area is preferred. The position still will require extensive travel. The person selected for this position will be expected to:
- Assist community development organizations, non-profits and governments in achieving a wide variety of community development goals.
- Design, evaluate and implement economic and housing development programs.
- Evaluate real estate development proposals.
- Structure incentives and financing packages for real estate and operating businesses.
- Represent NDC’s programs and services for practical application in client communities. These programs include
- Grow America Fund - a small business lending company
- Corporate Equity Fund - a syndicated fund that purchases housing and historic tax credits
- HEDC New Markets - a community development entity (CDE) that has received several allocations of New Markets Tax Credits (NMTCs)
- Housing and Economic Development Corporation - NDC’s development affiliate involved with public private partnerships for public facility and social infrastructure development.
- Instruct public sector and non-profit staff in economic development and housing development finance including
- Small business credit analysis and financing
- Commercial/industrial real estate development
- Affordable and market rate rental and for-sale housing development
Requirements:
Minimum Requirements
- A bachelor’s degree in public or business administration, finance, planning, real estate development or other related fields. Master’s degree in a related field preferred.
- Ten years of increasingly responsible experience with economic development and housing development.
- Highly energetic, creative self-starter capable of managing various assignments for multiple parties.
- An extensive working knowledge with the principles and practices of business credit, real estate credit and affordable housing. Proven experience with underwriting operating businesses, affordable housing developments, and commercial real estate developments.
- A solid working knowledge of existing economic development resources commonly used as a means of encouraging private investment. These programs include but are not limited to
- US. Department of Housing and Urban Development (HUD) – Community Development Block Grant (CDBG), Section 108 Loan Guarantee program, and HOME.
- U.S. Small Business Administration (SBA) - 7(a) Loan Guarantee and 504 loan programs.
- Federal Tax Credits including New Markets Tax Credits (NMTC), Low Income Housing Tax Credits (LIHTC) and Rehabilitation/Historic Tax Credits (RTC).
- Tax Abatement and Tax Increment Financing.
- Taxable and Tax Exempt Bond Financing.
- Ability to formulate and implement public policy to ensure client compliance with regulations, fiscal and programmatic accountability, and client goals and objectives.
- Ability to establish and maintain effective working relationships with professional colleagues, municipal clients, public officials, developers, and representatives from private and public financial organizations.
- A demonstrated ability to solve problems in a collaborative work environment.
- Entrepreneurial and strategic financial knowledge and understanding, combined with an ability to clearly summarize and communicate complex financial information.
Compensation:
Competitive salary commensurate with experience. Comprehensive benefits package. NDC is an Equal Employment Opportunity employer.
How to Apply:
Submit a cover letter and resume to careers@ndconline.org by June 6,2018.
Background:
The National Community Reinvestment Coalition (NCRC) is an association of more than 600 community-based organizations that promotes access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America’s working families. In 2007, NCRC established a subsidiary community development financial institution (CDFI), the National Community Reinvestment Coalition Community Development Fund, Inc. (NCRC CDF). NCRC CDF has been certified by U.S. Treasury as a Community Development Financial Institution (CDFI) since 2012. NCRC is seeking a new Executive Director to lead NCRC CDF starting in mid-2018. In addition to management of the CDFI, the Executive Director will guide CDF’s expanding financing strategy. Since its creation, NCRC CDF delivered loan capital to minority- and woman-owned businesses in the DC Metropolitan Statistical Area. In 2014, NCRC CDF began expanding its reach in the field of economic and community development, with a principal focus on NCRC’s GROWTH Initiative. GROWTH (Generating Real Opportunities for Work through Housing), is NCRC’s signature community development initiative. GROWTH purchases and renovates (or builds) single family homes with the goal of providing low- and moderate-income families pathways to homeownership and stabilizing property values in low- and moderate-income communities. GROWTH does this while linking workforce training and homebuyer counseling to people and neighborhoods we serve. NCRC CDF plays a critical role in the success of this effort, working with major investors and channeling capital. The investment fund now approaches $100 million.
Position Summary:
The Executive Director of NCRC CDF will be the Fund’s entrepreneurial leader, primary fundraiser, and manager. The Executive Director will report to NCRC CDF’s Board of Directors and to the Chief Community Development Officer (CCDO) of NCRC. S/he will be responsible for developing and refining broad strategy and annual work plans, setting priorities for initial lending activities, and supervising the Fund’s staff that the Board Chair and the CCDFO approve. The Executive Director will be the public face of NCRC CDF at trainings, forums, press and media events, and conferences of peer organizations within the community development finance world. At the same time, as the leader of an entrepreneurial and growing organization, functions and duties that eventually may be executed by additional personnel will be handled by the Executive Director.
Responsibilities:
ESSENTIAL FUNCTIONS:
- Product Development
- Develop, under the direction of the Chief of Community Development, a business plan that attracts funds to the CDFI – debt, equity, EQ2 and grants – to be utilized in NCRC’s Housing Rehab Fund and future funds.
- Continue to build small business loan portfolio based on current loan products: microloans and small business loans to emerging low-income entrepreneurs in the DC MSA.
- Develop and manage new program soon-to-be-launched, which will provide loans to businesses owned by returning citizens (ex-offenders) in the DC area.
- Create programming to ensure that NCRC CDF provides directly or through partnerships development services, e.g, that small business borrowers receive appropriate technical assistance from NCRC CDF and/or partners, including DC Women’s Business Center and Small Business Division
- Collaborate with the NCRC Women’s Business Center and Small Business Division to develop a pipeline of potential clients for lending.
- Assess and recommend strategy for making mortgage products available to purchasers of properties through NCRC’s GROWTH Initiative or to NCRC members with competent CDFIs, including:
- Coordinate the development of the Lease Backed Assumable Mortgage with industry partners.
- Originate single family mortgage product.
- Underwrite borrowers and assets financed.
- Manage related regulator and compliance issues.
- Coordinate funding and liquidity options with Federal Home Loan Bank, HUD, and other agencies.
- Coordinate participating bank partners for additional liquidity and funding capacity.
- Underwriting and Loan process management
- Underwrite applications for both the small business products and housing development/pre-development lending.
- Present loan packages to the loan committee for review and action.
- Monitor loan performance and implement corrective procedures for problem loans.
- Ensure that loan policy and procedures are followed and updated as needed through board approval.
- Fundraising & Capitalization
- Develop strong relationships with current investors and cultivate relationships with potential investors to secure the capital resources and the operating support necessary to meet NCRC CDF’s goals.
- Establish and maintain relationships with key staff at federal agencies that support affordable housing and redevelopment and micro lending and CDFIs, including the CDFI Fund at the U.S. Department of the Treasury, the Federal Housing Administration, and the PRIME program at the Small Business Administration.
- Identify and pursue grant funding opportunities on a regular basis.
- Communicate with investors, grant funders, and NCRC CDF’s Board about the financial and operational health of the Fund.
- Assume primary responsibility for acquiring sufficient financial capital in appropriate forms and operating support, as needed, to ensure smooth operations and steady growth of NCRC CDF.
- Compliance and Reporting
- Ensure compliance with all conditions/covenants in loan agreements, equity equivalent agreements, and other grant agreements.
- Ensure compliance with all CDFI Fund/US Treasury requirements and complete requisite reports through AMIS, both with respect to certification and any federal grants received.
- Ensure compliance with all Board and NCRC organizational requirements, policies, and practices.
- Manage office and staff
- Determine staffing needs of the NCRC CDF and create an efficient and effective staffing plan
- Recruit, hire, and supervise a well-qualified and capable staff.
- Ensure that customer service, loan production, portfolio and fiscal management, and reporting systems are high-quality and efficient.
- Maintain a solid understanding of the different programmatic components that comprise NCRC CDF.
- Develop collaborative relationship with NCRC’s investment manager and others working with that firm to enable seamless investment strategy that supports NCRC’s GROWTH Initiative.
Requirements:
- Graduate degree in business, real estate development or other related field. Additional professional experience may substitute for an advanced degree;
- At least 5 years of executive-level management experience, including experience with risk management for a lending institution, experience working with government programs that assist small business lending and micro lending, and extensive experience with business financing;
- Demonstrated broad knowledge of and contacts within the banking and/or the community development finance field related to housing and mortgage finance and systems that oversee the investment of NCRC’s CDF directly or indirectly with joint venture partners at the national and local levels;
- Familiarity with and experience working with the CDFI Fund at the U.S. Department of the Treasury.
- Proven track record of raising private, public and foundation capital and operating support;
- Outstanding oral and written communication skills;
- Strong strategic planning and financial analytical skills;
- Widely recognized leadership and personnel management skills;
- Reputation for creativity and innovation in achieving goals;
- Interest in working with diverse communities and organizations;
- A collaborative personal style that works in partnership with others both internally and externally;
- Clear commitment to the success of minority and women entrepreneurs.
Compensation:
Commensurate with experience
How to Apply:
Please submit resume, cover letter and writing sample through the https://ncrc.applicantpro.com/jobs/812600
Background:
Cinnaire provides solutions and support to partners through a dedicated full-service approach. Our progressive approach and loyal, experienced and knowledgeable staff create opportunities and provide access to funding and resources that advance community and economic development efforts. Building upon our exceptional track record, our responsible financial investment strategies, lending options and value-added services enable investors to advance business and community endeavors.
Position Summary:
The Accountant, New Markets Tax Credits is primarily responsible for the back-office functions of Cinnaire’s New Markets Tax Credit program.
Responsibilities:
Reports To: Vice President, Business Development (VPBD)
Supervisory Responsibility: None
Duties and Responsibilities:
- Support the VPBD in the identification, evaluation, and management of a pipeline of NMTC financing opportunities with a focus on long-term project viability and generation of significant community impacts.
- Assist the VPBD in the evaluation of potential NMTC transaction opportunities to determine whether they comply with NMTC program requirements, meet Cinnaire community development priorities, and are financially viable.
- Support the VPBD in the origination process for community development projects seeking NMTC financing, including impact underwriting.
- Effectively communicate with and manage program relationships, communicate underwriting criteria and processes, elicit assistance in marketing, and collecting quality information from developers/sponsors.
- Assist in the coordination of the closing of each NMTC transaction to ensure that all information, data, and documentation required by the NMTC program is obtained as part of the closing checklist.
- Participate in transaction closing calls as Cinnaire’s NMTC representative and work with Cinnaire’s legal counsel to coordinate the resolution of legal issues.
- Assist in project unwind on behalf of Cinnaire, including final tax return, entity dissolution and CDFI Fund reporting.
- Main point of contact with finance for monthly accounting, loan servicing, and cash management, as well as annual tax returns and audits.
- Assist VPBD in managing relationship with asset management’s role in NMTC
- Perform all investor reporting.
- Perform NMTC sub-CDE compliance tests.
- Manage collection of project impact information in coordination with Cinnaire’s impact manager.
- Manage NMTC relationship with Cinnaire Strategic Communications (Marketing) team, communicating on project closings, grand openings and impact stories.
- Manage collection of project level compliance information for CDFI reporting, both upfront at closing and annually.
- Perform annual reporting to CDFI Fund.
- Manage Cinnaire New Markets advisory board meetings and compliance.
- Assist in the preparation of Cinnaire’s NMTC application.
Requirements:
- Undergraduate degree in accounting.
- Three to five years’ experience in tax credit programs, community facility loans/investments or small business lending preferred.
- Knowledge and practical understanding of community development finance.
- Superior verbal and written communication skills.
- Ability to work on numerous projects at the same time.
- Strong analytical skills and close attention to detail.
- Superior proficiency in Excel.
- Commitment to working with diverse communities.
Compensation:
Commensurate with experience and market rate
How to Apply:
Apply here.
Background:
We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.
As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all. As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.
Banking & Trust Services (BTS) is the business enterprise within Schwab overseeing Charles Schwab Bank and the Charles Schwab trust companies. The BTS organization offers deposit, loan and trust products to Schwab clients who are looking for holistic wealth management solutions that complement their brokerage activities. The integrated banking and brokerage services represent the strong value proposition we offer our clients.
Charles Schwab Bank is a full-service bank that offers a range of competitive deposit and lending products. In 2003, we launched Schwab Bank as a bank for investors, and it has grown to be the 12th largest bank in the United States. Our goal is to offer a banking experience that complements the Schwab brokerage capabilities, providing banking products tailored to meet our clients’ unique needs as investors, all in one convenient location. Consistent with the brand, we offer exceptional client experience.
Position Summary:
Our Opportunity:
The Manager of the Community Development Group (CDG) of Charles Schwab Bank is responsible for supporting all members of the group regarding portfolio management and reporting, financial and transaction analysis and due diligence, loan and investment management, data reporting, and operations. This position is the portfolio manager in the Community Development Group.
Responsibilities:
What you’ll do:
Portfolio Management & Reporting
- Provide support for post-closing monitoring and management of loans and investments, including monitoring cash flows, invoicing, and processing wire requests.
- Assist Managing Director, Portfolio Management and Business Operations in processing, creating and distributing reports on a quarterly, annual, and, when necessary, interim basis to track the macro and micro performance of the CDG portfolio by spreading client financial reports, communicating with clients, and critically assessing the clients’ financial performance.
- Track and report on progress made toward Charles Schwab Bank’s CRA Strategic Plan goals.
Underwriting Support
- Assist Managing Director, Lending and Compliance in performing due diligence, financial analysis and underwriting loan transactions on an as-needed basis.
- Work with Director of Grants and Services to review financial statements of organizations applying for grants and in any other aspect, as needed, of the grant and service process.
Special Projects
- Develop financial analyses to evaluate existing and new products and programs.
- Conduct market and product research as necessary.
- Support Senior Managers, Directors, and Vice President on special projects when necessary.
What you have:
- Minimum five years of experience in finance and/or community development banking
- Minimum four years of experience in portfolio management
- Strong attention to detail, excellent analytical and quantitative talent
- Excellent proficiency in Microsoft Excel, strong ability with Microsoft PowerPoint and other Office products
- Strong written and verbal communication skills
- Strong organizational skills
- Familiarity with GAAP accounting preferred
- Experience with CRA Wiz preferred
- Strong interpersonal skills and ability to convey financial messages in easy to understand language
- Ability to self-lead and work with little supervision
- Ability to work across organizational boundaries and build strong partnerships with other departments within the Firm and vendors outside the Firm
- Bachelor’s degree required; advanced degree such as MBA or Master of Finance, Urban Planning, Public Administration, etc. preferred
Requirements:
What you have:
- Minimum five years of experience in finance and/or community development banking
- Minimum four years of experience in portfolio management
- Strong attention to detail, excellent analytical and quantitative talent
- Excellent proficiency in Microsoft Excel, strong ability with Microsoft PowerPoint and other Office products
- Strong written and verbal communication skills
- Strong organizational skills
- Familiarity with GAAP accounting preferred
- Experience with CRA Wiz preferred
- Strong interpersonal skills and ability to convey financial messages in easy to understand language
- Ability to self-lead and work with little supervision
- Ability to work across organizational boundaries and build strong partnerships with other departments within the Firm and vendors outside the Firm
- Bachelor’s degree required; advanced degree such as MBA or Master of Finance, Urban Planning, Public Administration, etc. preferred
Compensation:
DOE
How to Apply:
For more information and to apply please visit us here: http://www.schw.jobs/tp/rj6-9z5Zt-e.K
Background:
We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.
As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all. As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.
Banking & Trust Services (BTS) is the business enterprise within Schwab overseeing Charles Schwab Bank and the Charles Schwab trust companies. The BTS organization offers deposit, loan and trust products to Schwab clients who are looking for holistic wealth management solutions that complement their brokerage activities. The integrated banking and brokerage services represent the strong value proposition we offer our clients.
Charles Schwab Bank is a full-service bank that offers a range of competitive deposit and lending products. In 2003, we launched Schwab Bank as a bank for investors, and it has grown to be the 12th largest bank in the United States. Our goal is to offer a banking experience that complements the Schwab brokerage capabilities, providing banking products tailored to meet our clients’ unique needs as investors, all in one convenient location. Consistent with the brand, we offer exceptional client experience.
Position Summary:
Our Opportunity:
The Community Development Group of Charles Schwab Bank is seeking a Senior Manager, Lending. This position is responsible for working closely with the Director of Lending to implement the Bank’s Community Reinvestment Act (CRA) eligible loan products and programs by originating, underwriting and closing a variety of community development loans consisting primarily of loans to Community Development Financial Institutions (CDFIs) and other financial intermediaries. The Senior Manager will also assist in maintaining internal and external relationships with community development intermediaries; analyzing and approving changes to existing investments or consents for new underlying investments; and assisting with day-to-day oversight of the investment portfolio. This position is responsible for the credit quality of new CRA-eligible investments closed and for evaluating the credit risk, negotiating deal terms, obtaining credit approvals, and overseeing the closing process for proposed investments. The Senior Manager interacts and effectively communicates with clients, internal community development services team, portfolio manager, risk management partners, and other partners across the Bank and the firm, including business, finance, treasury, and accounting.
Responsibilities:
What you’ll do:
- Works with Director of Lending to source, review, analyze, underwrite and manage through the closing process CRA eligible loan opportunities in the Bank’s Assessment Areas, with particular emphasis on loans to CDFIs.
- Collects borrower due diligence, including financial reports, loan policies & procedures, organizational documents, and other information required to underwrite an organization.
- Prepares underwriting memorandums, interim reviews, and recommendations for loan committee approvals.
- Maintains proficient knowledge of rules and regulations, including but not limited to, the Community Reinvestment Act.
- Works with the Director of Compliance and the Director of Lending to ensure loans qualify under CRA guidelines.
- Works with Treasury, Finance, Accounting and Risk areas of the Bank to ensure compliance with Bank policies relating to finance, accounting, credit and risk management.
- Maintains active relationships with Bay Area and national business partners, including banks, Community Development Financial Institutions, real estate developers, affordable housing lenders, tax credit syndicators, and community organizations.
- Adheres to all community development loan and investment policies and procedures to ensure consistency with actual processes.
- Keeps abreast of market changes and product offerings needed to remain current and competitive.
- Responds to community development and CRA-related business issues as they arise.
The position of Senior Manager, Lending carries out supervisory responsibilities in accordance with the Bank's policies and applicable laws, ensuring adherence to EEO guidelines.
Requirements:
What you have:
- 5-8 years banking experience in community development finance, real estate finance or corporate finance
- Knowledge of the Community Reinvestment Act
- Strong background in transactional work, preferably both debt and equity, with real estate and/or intermediary experience preferred
- Strong analytical and deal execution skills with the ability to simultaneously manage multiple client relationships and transactions, including credit/financial/risk analysis, deal structuring, negotiation, due diligence, underwriting, obtaining internal approvals and coordinating transaction closings
- Strong attention to detail, excellent analytical and quantitative skills, proficiency in Microsoft Excel and other Microsoft Office products
- Familiarity with GAAP accounting and financial analysis
- Experience in working with local and national CDFIs and non-profit organizations
- Advanced degree (JD, MBA, MPA, MPP or equivalent) preferred
- Experience managing relationships with CDFIs and other nonprofit borrowers
- Excellent oral and written communication skills and project management skills
- Self-driven team player with ability to complete tasks under a deadline and take on a high level of responsibility, initiative, and accountability with little day-to-day supervision
- Superior judgment and excellent oral and written communication skills to effectively interact with internal business leaders and Bank senior management and to work across organizational boundaries to build partnerships with other internal departments and with colleagues and clients outside the company
Compensation:
DOE
How to Apply:
For more information to apply please visit us here: http://www.schw.jobs/tp/rj6_2G531.e_K
Background:
We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.
As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all. As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.
Banking & Trust Services (BTS) is the business enterprise within Schwab overseeing Charles Schwab Bank and the Charles Schwab trust companies. The BTS organization offers deposit, loan and trust products to Schwab clients who are looking for holistic wealth management solutions that complement their brokerage activities. The integrated banking and brokerage services represent the strong value proposition we offer our clients.
Charles Schwab Bank is a full-service bank that offers a range of competitive deposit and lending products. In 2003, we launched Schwab Bank as a bank for investors, and it has grown to be the 12th largest bank in the United States. Our goal is to offer a banking experience that complements the Schwab brokerage capabilities, providing banking products tailored to meet our clients’ unique needs as investors, all in one convenient location. Consistent with the brand, we offer exceptional client experience.
Position Summary:
The Community Development Group of Charles Schwab Bank is seeking a Senior Manager, Community Development Investments. This position is responsible for working closely with the Director of Investments to implement the Bank’s Community Reinvestment Act (CRA) eligible investment products and programs by originating, underwriting and closing a variety of community development investments consisting primarily of Low Income Housing Tax Credits (LIHTC) and other structured investments. The Senior Manager will also assist in maintaining internal and external relationships with community development intermediaries; analyzing and approving changes to existing investments or consents for new underlying investments; and assisting with day-to-day oversight of the investment portfolio. This position is responsible for the credit quality of new CRA-eligible investments closed and for evaluating the credit risk, negotiating deal terms, obtaining credit approvals, and overseeing the closing process for proposed investments. The Senior Manager interacts and effectively communicates with clients, internal community development services team, portfolio manager, risk management partners, and other partners across the Bank and the firm, including business, finance, treasury, and accounting.
Responsibilities:
What you’ll do:
- Works with the Director of Investments to source, review, analyze, underwrite, negotiate and manage through the closing process CRA-eligible investment opportunities in the Bank’s CRA Assessment Areas, with particular emphasis on proprietary and multi-investor fund LIHTC investments.
- Maintains proficient knowledge of rules and regulations, including but not limited to, Section 42 of the Internal Revenue Code (IRC) and the CRA to determine which investments meet the program requirements and the Bank’s CRA goals.
- Works with intermediary partners to structure deals and investment funds.
- Assesses investment returns of potential investments and understands the associated underwriting risks.
- Collects and analyzes project-level due diligence, including partnership agreements, appraisals, market studies, construction reports, financing, rental subsidy and regulatory agreements, environmental reports, investment committee packages and third-party reviews to verify timing, structure and transaction terms that are consistent with the Bank’s underwriting and approval guidelines and industry best practices.
- Prepares underwriting memorandums, consent request approvals, annual reviews of intermediary partners, and recommendations for investment committee approvals.
- Reviews and assists with the negotiation of partnership agreements and other partnership documents related to the closing of new investments.
- Adheres to all community development loan and investment policies and procedures to ensure consistency with Bank processes, and recommends changes to policies and establishes procedures that affect organization's operation and credit policy.
- Works with Treasury, Finance, Accounting and Risk partners of the Bank to ensure compliance with Bank policies relating to finance, accounting, credit, and risk management.
- Maintains active relationships with Nevada and national for-profit and nonprofit business partners, including tax credit syndicators and other community development intermediaries; real estate developers; banks and other affordable housing lenders; and community-based organizations.
- Assists in conducting annual reviews of intermediary partners including overall track record, operational strengths and weaknesses, portfolio performance and detailed financial analyses.
- Keeps abreast of market changes and product offerings needed to remain current and competitive.
- Responds to community development and CRA-related business issues as they arise.
Requirements:
What you have:
- 5-8 years banking experience in multifamily and/or affordable housing, community development finance, or real estate finance
- Demonstrated experience in originating, underwriting, negotiating, structuring and/or managing LIHTC investments for a syndicator, direct or fund investor or experience managing relationships with community development intermediaries; experience working with Nevada nonprofit or for-profit entities is a plus
- Knowledge of the Community Reinvestment Act, Section 42 of the IRC, AHIC underwriting guidelines, business and tax issues related to LIHTC investments and multifamily property fundamentals
- Background in transactional work, preferably both real estate debt and equity
- Strong attention to detail, excellent analytical and quantitative skills, proficiency in Microsoft Excel and other Microsoft Office products
- Familiarity with GAAP accounting and sponsor financial analysis
- Strong analytical and deal execution skills with the ability to simultaneously manage multiple client relationships and transactions, including credit/financial/risk analysis, deal structuring, negotiation, due diligence, underwriting, obtaining internal approvals and coordinating transaction closings
- Self-driven team player with ability to complete tasks under a deadline and take on a high level of responsibility, initiative, and accountability with little day-to-day supervision
- Superior judgment and excellent oral and written communication skills to effectively interact with internal business leaders and Bank senior management and to work across organizational boundaries to build partnerships with other internal departments and with colleagues and clients outside the company
- Bachelor’s degree or equivalent experience in real estate, business, finance, or accounting with advanced degree (MCRP, MPA, MPP, JD, MBA or equivalent) preferred
Compensation:
DOE
How to Apply:
For more information and to apply please visit us here: http://www.schw.jobs/tp/rj6_2cnPo.e_K
