Associate Asset Manager, New Market Tax Credit
Chicago, IL or New York, NY (preferred)
For over 30 years, CSH has changed
the lives of people who have been marginalized and are our most vulnerable
- Helping communities create over 335,000 homes for individuals and families;
- Providing technical assistance and support to communities across the country including over $1B in capital; and
- Ensuring not only a home but access to the services and supports that people and communities need to thrive.
CSH has proven supportive housing can change the lives of
individuals, families, and communities. We have also created a team of
nationally recognized experts who are deeply dedicated to our organization and
its goals. We attract talented and diverse individuals, offer competitive
salaries and benefits, generous leave and PTO, and fully embrace the philosophy
that work-life balance is achievable. With the goal of attracting proven
candidates committed to making a difference and who aspire to advance our mission,
CSH is now accepting applications for an Associate Asset Manager with our New
Market Tax Credit (NMTC) Team.
Why we need you:
CSH is seeking a creative, results-oriented individual committed
to racial equity and advancing anti-racism practices with a passion for CSH’s
mission. We need your expertise to help manage our growing NMTC portfolio,
consisting of projects that provide healthcare and social services and
individuals in need of supportive housing. Our position preference is Chicago,
IL or New York, NY but CSH will consider candidates working remotely if they
have strong experience in a same or similar role. This position requires occasional
travel to national conferences, staff meetings, site visits, or other purposes
when post-COVID travel resumes.
What you will do?
As a key member of the team, you
will help collect and manage project data; monitor project performance and
operational risk; and ensure compliance with US Department of Treasury’s
Community Development Financial Institution’s Fund (CDFI Fund) NMTC program
requirements. Our NMTC program is part of our larger Community Investment Team.
This position will report to CSH’s NMTC Portfolio Manager. Additional key
- Assist in reviewing NMTC financial model and loan documents prior to closing to ensure Collaborate with CSH’s program staff to obtain feedback on projects; screen potential projects, and help prioritize based on alignment with our mission, strategic plan, and NMTC strategy. This includes conducting site visits.
- Review and approve monthly construction draw requests and assist in the disbursement and transfer of funds and assist with Loan servicing, including invoicing and helping to process payments and distributions.
- Collect, monitor and review required compliance reporting from Sponsors/Borrowers to ensure reporting is completed on-time and in accordance with NMTC requirements.
- Collect, enter, and manage annual community impact reporting for each project to track and assess how our NMTC project investments further CSH’s mission and goals and for its annual NMTC application submission, and in coordination with CSH’s NMTC Portfolio Manager and its Compliance Consultant, help to complete its annual reporting to the CDFI Fund in its Award Management Information System (AMIS).
- Conduct site visits, review quarterly financial statements from borrowers and guarantors, monitor overall project performance against projections, and assist in completing risk ratings for closed projects throughout the NMTC compliance term.
- Identify compliance and/or operating issues and work with CSH’s NMTC Portfolio Manager, investors and co-lenders to help to identify strategies and implement procedures to improve project performance and/or mitigate risks.
- Create and maintain reports and data on closed projects for CSH’s NMTC Advisory Board, Loan Project Review Committee, Management Team, Board of Directors, Investors, and/or other stakeholders as needed or requested.
- Maintain files and reports, and assist in preparing reports to help in managing compliance with NMTC program requirements.
How you will lead:
a leader in your role, we also seek someone who will keep current of the CDFI
Fund NMTC compliance and reporting requirements. Your expertise and experience
will help CSH prepare our annual NMTC application to the CDFI Fund. Your strong
communication will cultivate and maintain positive working relationships with project
sponsors/borrowers, investors, co-lenders, and other NMTC partners including
consultants, attorneys, and tax accountants. We will also rely on you to help
showcase the incredible impact of our NMTC projects by preparing summaries,
data, reports, project profiles, web and general communications content, and
representing CSH at conferences, trainings, and events for internal and
external audiences. We also seek your insights and expertise to creatively
support and identify ways to further strengthen and improve asset
management and compliance systems and complete special projects and
assignments as needed.
Working for CSH
are adaptable, entrepreneurial, creative, and flexible problem-solvers. We are
strategic thinkers who are committed to racial equity and treating each other –
and the communities we serve – with respect. You should share a passion for the
CSH mission and possess the skills to meet the expectations of this role.
Specifically, we are seeking:
- Minimum of 2 years’ experience in community development, real estate finance, asset management and/or non-profit lending is preferred.
- Bachelor degree (preferred). Work or lived experience may substitute for education.
- Prior experience involving government /public funding and affordable/supportive housing programs, along with related compliance reporting is desired, particularly those involving CDFI Fund programs. Prior NMTC experience is a plus but not required.
- You must be organized, analytical, detail-oriented, and comfortable working with numbers/data.
- Excellent written and verbal communication skills are a must including the ability to present and engage racially, ethnically, and socially diverse stakeholders.
- Strong project management skills including creating work plans, building and motivating project teams and demonstrated experience managing multiple complex assignments and successfully meeting deadlines.
- An interest in our mission, our work, affordable and supportive housing, community development, and in supporting the development of housing and services is required.
- A conceptual understanding of institutional/structural racism and bias and their impact on underrepresented communities.
- Experience working with Microsoft Office programs (Word, Excel, Power Point, Outlook) is required.
CSH offers generous benefits, opportunities for professional
growth, and competitive salaries. We base our salaries on geographic location.
A mid-range salary for an Associate Asset Manager in a mid-market (Chicago) is
$70,000- $75,000. Salary offers will be
based on where the candidate works and the candidate’s experience in similar
in joining our team as a leader in the national supportive housing movement?
candidates should attach their Resume,
Cover Letter and Salary Expectations as one Microsoft Word or PDF document.
is proud to be an Equal Opportunity Employer.