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New Markets Tax Credit Compliance & Asset Manager for local nonprofit


Job Description

Job Title: New Markets Tax Credit Compliance & Asset Manager

Supervisor’s Title: Controller

OT Status: Exempt

Important: Must have experience and technical knowledge of CDFI Fund and New Markets Tax Credit (NMTC) compliance

requirements plus an understanding of real estate investment transactions


The National Trust Community Investment Corporation (NTCIC), a tax credit subsidiary of the National Trust for Historic Preservation

that provides real estate financing to culturally diverse and economically distressed urban communities, seeks a Compliance Manager

to ensure that NTCIC is in full compliance with the regulations set by the CDFI Fund for the NMTC program. The Compliance Manager

will also assist with the asset management of a portfolio of historic and new markets tax credit equity investments from the closing,

through the compliance period and exit process.


NMTC Compliance Duties (approximately 75%)

1. Responsible for maintenance of CDE certification status of all Sub-CDEs, including compliance with the IRS and

programmatic requirements of all Allocation Agreements.

2. In conjunction with the Acquisitions Department, confirm that proposed projects are eligible for NMTCs and ensure that all

documentation fully supports the QEI / QLICI and that proceeds are invested in QALICB’s.

3. Monitor existing Community Benefit Agreements (CBA’s) with developers and provide analytics as necessary.

4. Monitor compliance with the “substantially-all” tests.

5. Prepare and submit the annual Community Investment Impact Systems (CIIS) reports to the CDFI Fund.

6. Perform QALICB operating income analysis to ensure that distributions are made in accordance with safe harbor provisions.

7. Lead the process to execute and if applicable, amend NMTC Allocations Agreements.

8. Assist senior management with the preparation of annual allocation applications.

9. Work with the independent Advisory Board to obtain input for the business strategy portion of the allocation application.

Asset Management Duties (approximately 25%)

1. Oversee multiple investments and/or investor relationships within NTCIC’s portfolios. Participate in the ongoing relationships

with the managing member/developer partner, construction lender, SHPO/Historic Consultant, property manager and

accounting staff for each project.

2. Collect and provide analysis of all required reports for each project, including construction progress and change order

reports, draw requests, development sources and uses flow of funds, lease-up reports, monthly, quarterly and annual

reporting, and audited financial reports and tax returns.

3. Perform site visits as needed and monitor the collection of priority return, asset management fee and tax payments required

of each project;

H:\HR\job descriptions\Compliance Manager 4.25.11.docx Revised 1/00

4. Identify potential problems, and propose measures to address such problems, including potential non-compliance and

workout situations.

5. Maintain data within the asset management systems, including: files, reports, tickler systems, project-level reporting

(including audits and tax returns), and upper tier fund-level reporting (including assisting accounting with the Fund audits and

tax returns) and other systems.

6. Perform quarterly investor reporting including annual audits and tax returns for assigned assets.

7. Such other and future duties as assigned.


 At least 3 years experience in asset management in a real estate development company, real estate banking group,

tax credit investor, tax credit syndicator, community development financial institution or community development entity.

 Knowledge and experience with the New Markets Tax Credit Program is required.

 Bachelor’s degree in real estate, finance, business, accounting or related fields. Master’s Degree preferred.

 Real estate experience and knowledge including market analysis, construction and rehabilitation process, property

management, financial reporting and analysis, and compliance with financing covenants and regulatory agreements.

 Strong analytical and organizational skills and attention to detail.

 Proven ability to work collaboratively with other members of a small multicultural team in a fast-paced environment.

 Must be a self-starter with strong drive and organizational skills, able to “think and act on one’s feet”.

 Proficiency in Microsoft Word, Excel and Outlook.

 Strong written and oral presentation skills

 Ability and willingness for occasional travel.

Ted Potts

Office Manager

National Trust Community Investment Corp.

1785 Massachusetts Ave., NW

Washington, DC  20036

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