New Market Tax Credit Portfolio Manager
New York, NY
CSH transforms how communities use housing solutions to improve the lives of the most vulnerable people. We offer capital, expertise, information and innovation that allow our partners to use supportive housing to achieve stability, strength and success for the people in most need. CSH blends over 25 years of experience and dedication with a practical and entrepreneurial spirit, making us the source for housing solutions. CSH is an industry leader with national influence and deep connections in a growing number of communities throughout the country.
We are seeking an enthusiastic, detailed-oriented individual to join CSH’s Finance Team to support the administration of CSH’s New Market Tax Credit (NMTC) Portfolio.
The NMTC Portfolio currently consists of seven projects, but will soon grow to approximately twelve over the next year. Reporting to the Chief Financial Officer, the NMTC Portfolio Manager will manage the administration and compliance of closed projects; assist with the preparation of CSH’s annual NMTC application to the CDFI Fund; prepare required financial reporting; and assist with general New Market Tax Credit loan compliance. A successful candidate must be a self-starter and able to take initiative to successfully manage investments with minimal day-to-day supervision, and work well independently and as part of a team that includes accountants, attorneys, program and compliance consultants, program staff, co-lenders, and government agencies.
Key Responsibility Areas Include:
- Assist the organization’s NMTC application and related allocation agreements
- Manage project closing, including establishment and management of sub-CDE general ledgers and bank accounts, reviewing key documents and preparing closing documents with external auditors
- Service NMTC Loans, including loan data management, interest, fee and tax payments, and draws
- Prepare all required accounting and financial reporting; coordinate and prepare work papers for annual financial audits, tax department and annual tax filings; and oversee investor reporting
- Ensure compliance with CDFI Fund requirements including entry of community impact reporting, the annual CBA report and the asset management report regarding closed projects for the NMTC Advisory Board, Internal Management and the Board of Directors.
- Creatively support the NMTC program by identifying solutions, offer ideas for improved systems, assist in the preparation of program budget and expenses, and complete special projects as needed and assigned.
- Successful candidates will be adaptive, entrepreneurial problem solvers with a demonstrated commitment to social justice. CSH seeks candidates driven by strategic thinking, executed with creativity and flexibility, and with an ability to adapt approach, strategy, and tactics rapidly in response to changing information or program needs. It is important to help articulate and strategically pursue new visions and ideas for supportive housing and the role it can play in solving complex problems.
- Minimum of 5 years of experience in real estate finance, asset/portfolio management, project development, and/or non-profit lending. Experience in loan servicing or compliance a plus.
- Strong interest in economic and community development, affordable housing, addressing chronic homelessness, and meeting the service needs of low income, vulnerable populations, including seniors, veterans, transition-aged youth, LGBT populations, and/or those with substance use, mental illness, or criminal histories, is required.
- Past experience in reading legal documents and managing compliance and community impact reporting related to public funding sources is desired. Familiarity with community and economic development programs is a plus. Prior experience with New Market Tax Credits is a plus, but not required.
- Must be organized, analytic, detail-oriented, and comfortable working with numbers/data; have excellent written and verbal communication skills; and demonstrated experience managing multiple assignments and meeting deadlines.
- Prior experience using Microsoft Office programs and database management (Word, Excel, Power Point, Outlook) required.
- Knowledge of Quick Books desirable
- Bachelor’s degree preferred. Experience may substitute for education.