NEW MARKETS TAX CREDIT PORTFOLIO ANALYST
New Jersey Community Capital
New Jersey Community Capital (NJCC), is a 25-year-old community development financial institution (CDFI) certified by the U.S. Department of the Treasury. Each year, NJCC provides millions of dollars in capital and substantial financial and technical assistance to support the revitalization of underserved communities across the state. These efforts provide quality housing, early care, education, and employment to thousands of low-income people. NJCC has also emerged as a national leader in developing innovative strategies to reverse the distress created by the foreclosure crisis, implementing large-scale programs to acquire and redevelop vacant homes, modify nonperforming mortgages, and infuse flexible capital into collaborative community-level efforts to stabilize blighted neighborhoods. For more information, visit: www.newjerseycommunitycapital.org.
This 26-person organization currently offers the opportunity for an experienced individual to join NJCC’s Portfolio Management and Compliance Team as its Portfolio Analyst for both New Market Tax Credit (NMTC) investments and NJCC’s Participant Loan Portfolio. The individual should possess a strong desire to be part of a team that is motivated and inspired by NJCC’s mission to strengthen communities.
The primary responsibility of the Portfolio Analyst is to oversee and coordinate the ongoing reporting and compliance activities of NJCC’s NMTC investments and its Participant Loan Portfolio. We are seeking an enthusiastic, detail-oriented professional willing to take responsibility of making sure these areas of NJCC’s operations run smoothly and effectively. The Portfolio Analyst will participate in pre-closing negotiations of NMTC transactions to ensure the transactions are structured in accordance with current rules and regulations as well as NJCC policies and procedures. The Portfolio Analyst will monitor NJCC’s post-closing servicing, accounting and compliance for its NMTC investments and Participant Loan Portfolio.
Specifically, the candidate will participate in NMTC unwind transactions; perform annual financial analysis of NMTC and Participant Loan Portfolio escrows; prepare annual financial analysis and risk assessments on the specific transactions and/or properties; proactively engage asset owners to address potential hurdles; and cooperate with the Impact Assessment Coordinator to work with borrowers, investors and loan participants to collect annual outcome and impact performance measures and other required documentation. In completing these tasks, the Portfolio Analyst will be instrumental in NJCC’s efforts to effectively manage and monitor its NMTC investments and its Participant Loan Portfolio activity.
- Implement policies and procedures related to post closing monitoring and compliance of NMTC investments and the Participant Loan Portfolio.
- Coordinate specific activities of NJCC’s lending, compliance, accounting, and impact assessment team members as NMTC and Participant Loan Portfolio loans are reviewed, closed, serviced and monitored.
- Review final loan documentation to determine specific monitoring and compliance required by each individual loan.
- Collect and/or prepare compliance and/or monitoring reports required under the NMTC program and Participant Loan Portfolio.
- Assist Lending Team in pre-closing negotiations for NMTC transactions, as well as future NMTC unwind transactions.
- Assist the Lending Team in analyzing periodic requests from Participant Loan Portfolio borrowers and/or participants.
- Monitor monthly performance of the Participant Loan Portfolio, including monthly payments from borrowers and remittances to loan participants.
- Prepare quarterly and annual reports on NTMC and Participant Loan Portfolio loans, including updated financial analyses and risk assessments.
- Monitor Reserve and Escrow accounts held by NJCC for NMTC or Participant Loan Portfolio Loans, including making regular tax and insurance payments and managing borrowers’ requests for releases of funds held in these accounts.
- Interact with NMTC and Participant Loan Portfolio borrowers, investors, and participants regarding loan performance, projected and actual outcomes, and project information.
- Schedule and/or conduct annual property inspections for NMTC investments and Participant Loan Portfolio loans.
- Assist NJCC staff with the preparation and submission of compliance reports to the U.S. Treasury Department’s CDFI Fund on NMTC activities.
- Remain current on regulatory and/or programmatic changes in the NMTC program.
- Light to moderate travel required (5-15% of time).
- Bachelor’s degree, with emphasis on academic or work experience in accounting, finance, taxation, and community development. A candidate with a CPA or advanced degree would be considered.
- Demonstrated ability to balance multiple tasks and work well independently and collaboratively.
- Working knowledge of commercial loans, including financial analysis, loan documentation requirements, and post-closing requirements.
- Must be comfortable in a mission-driven, small office work environment.
- Strong written and verbal communication skills.
- Good networking, relationship management, and customer skills.
- Strong knowledge of MS Office Excel, Word, and related products is required.
NJCC offers a salary package competitive with the CDFI industry, and commensurate with the candidate’s abilities and work experience. NJCC also offers an attractive benefits package including health, dental, disability and life insurance, 401(k) savings plan, flexible spending accounts (medical, dependent care, and transportation), with 23 vacation days plus 12 paid holidays. NJCC’s main office is located at 108 Church St. in New Brunswick, NJ, in a recently-renovated building only two blocks from the train station.
Interested individuals should email a thoughtful cover letter and resume to firstname.lastname@example.org. Please include “Portfolio Analyst – Your Name” in the email’s subject line. NJCC will accept applications until the position is filled.