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Careers

Position:  Vice President & Controller

Reports to:  Chief Financial Officer

National Community Investment Fund (NCIF; www.ncif.org) is an impact investor and national nonprofit Community Development Financial Institution (CDFI) formed in 1996 with a mission to increase access to responsible financial products and services in underserved communities. Total assets under management at NCIF are around $205 million, including a balance sheet of $37 million and $178 million of New Markets Tax Credits (NMTC) allocations. In 2019, NCIF launched a $30 million Credit Strategies Fund with new debt capital of $15 million. NCIF is the largest investor in CDFI banks with investments in 17 institutions. NCIF achieves its mission via three complementary business lines:

  1. Equity Investing in Mission Oriented Banks: We support depository institutions with equity, debt and deposit investments.
  2. New Markets Tax Credits: We have received $326 million in NMTC allocations and are deploying it into real estate, operating companies, health care facilities, schools, other nonprofit and for-profit impact-oriented businesses.
  3. Lending: With the launch of the Credit Strategies Fund, we will make/purchase loans in partnership with CDFI Banks and other mission-oriented partners to finance socially impactful commercial real estate projects that benefit underserved communities. 

Impact measurement is the foundation of NCIF’s work and supports all of our business lines. We advise investors and other stakeholders on equity placements, debt, deposits and grants to meet their programmatic and geographic focus areas.  NCIF pioneered the use of Social Performance Metrics (see www.bankimpact.org and www.BankImpactmaps.org) and is developing a cloud-based core data platform to support data analytics.

Position Overview:

The VP/Controller is primarily responsible for all accounting, finance and HR functions for the firm.  The Controller will be responsible for all accounting functions using MS Dynamics Great Plains, loan tracking using the Nortridge Loan System, monitoring transactions related to NCIF and affiliated entities, budget and forecasting, treasury management, and payroll and benefits management.

The Controller will be a subject matter expert in all accounting, financial analysis and reporting.  This person will be detail-oriented and agile at using technology, developing process efficiencies and managing staff.  In addition, s/he will have a deep appreciation for the need for accuracy, as well as the ability to maintain confidentiality of information. S/he will supervise a three- member team comprised of, two accountants and one accounting assistant.  S/he will coordinate with Director, Compliance and Reporting on portfolio, compliance and reporting matters.

Essential Duties and Responsibilities:

Responsibilities include:

  • Maintain solid operations infrastructure; Update and keep refreshed all accounting and control policies and procedures relating to all NCIF entities (NCIF, Credit Strategies Fund, NMTC Community Development Entities, NCIF NFP and all other related entities).
  • Ensure fiscal integrity through enforcement of accounting procedures and controls, operations.
  • Manage operations, accounting and control/compliance with New Market Tax Credits program requirements, including working with the portfolio and compliance manager to ensure timeliness of investor reporting for NCIF entities;
  • Oversee annual budget development, financial forecasting, Board reporting and annual audits (consolidated company, NCIF entities and CDE audits)
  • Manage relationships with external audit firms for audit and tax filings and maintain compliance with local laws (DE and IL filings etc.)
  • Provide monthly/quarterly reporting package to the CEO/Board
  • Build and maintain financial models for new product development and assist in the capital raising efforts of the organizations
  • Manage treasury function including all banking relationships
  • Provide payroll functions including updating policies and procedures. Review annual employee health insurances choices along with any changes

Education:

Bachelor’s Degree in Accounting

CPA desired, but not required

Must Have Skills:

  • 8+ years managing all aspects of accounting functions/operations for a business unit. Prior experience managing an accounting team
  • In-depth knowledge and understanding of how accounting systems work; understanding of non-profit accounting
  • In-depth knowledge of Excel for financial modeling, budgeting, new product development etc.
  • High attention to detail
  • Strong leadership skills; team player with advanced communication and interpersonal skills
  • Self-motivated to achieve and self-managed, organized
  • Excellent problem-solving techniques
  • Strong written and verbal communication skills in English

Desired Skills and Experience:

  • Passion for community development finance, nonprofit work; experience in a CDFI is desirable.
  • Great Plains and Northridge Loan System experience a plus
  • Knowledge of New Market Tax Credits and related accounting and compliance is highly desired

NCIF is an equal opportunity employer and provides equal treatment and opportunity to all persons without regard to race, color, religion, national origin, sex, age, disability, veteran status or sexual orientation except where such distinction is required by law.

Please send cover letter and resume to Administration@ncif.org

 

 

Position:      Senior Portfolio Analyst 

Reports to:    Director, Portfolio and Compliance Management 

National Community Investment Fund (NCIF; www.ncif.org) is an impact investor and national nonprofit Community Development Financial Institution (CDFI) formed in 1996 with a mission to increase access to responsible financial products and services in underserved communities. Total assets under management at NCIF are around $205.6 million, including a balance sheet of $37 million and $178 million of New Markets Tax Credits (NMTC) allocations. NCIF launched a $35 million Credit Strategies Fund with new debt capital of $15 million. NCIF is the largest investor in CDFI banks with investments in 17 institutions. NCIF achieves its mission via 3 complementary business lines:

  1. Equity Investing in Mission Oriented Banks: We support depository institutions with equity, debt and deposit investments.
  2. New Markets Tax Credits: We have received $326 million in NMTC allocations and are deploying it into real estate, operating companies, health care facilities, schools, other nonprofit and for-profit impact-oriented businesses.
  3. Lending: With the launch of the Credit Strategies Fund, we will make/purchase loans in partnership with CDFI Banks and other mission-oriented partners to finance socially impactful commercial real estate projects that benefit underserved communities. 

Impact measurement is the foundation of NCIF’s work and supports all of our business lines. We advise investors and other stakeholders place equity, debt, deposits and grants to meet their programmatic and geographic focus areas.  NCIF pioneered the use of Social Performance Metrics (see www.bankimpact.org and www.BankImpactmaps.org) and is developing a cloud-based core data platform to support data analytics.

Position overview

NCIF is recruiting a Senior Portfolio Analyst as part of the portfolio and compliance management department. This role will support asset management and compliance and reporting in equity investing, lending, and New Markets Tax Credits. Specific responsibilities are listed below.

Job Responsibilities

  1. Portfolio and Asset Management
  • Evaluate borrowers’ credit data and financial statements in collaboration with Credit Analyst in order to determine the degree of risk in lending money to new borrowers.
  • Perform financial statement reviews and analysis on existing and potential borrower. In collaboration with the lending department compile and track financial and non-financial document from borrower to adhere to loan covenants.
  • Recommend updates to risk rating in collaboration with originating lenders and senior executive staff.
  • Work in conjunction with the accounting department to input, monitor and analyze loan information to the loan core system (Nortridge loan System). 
  • Support portfolio and compliance department in the monitoring of loan/investment terms including dividend and loan payments, loan covenants, financial statements, impact reporting, compliance and insurance certificates etc. including using the NCIF loan System.
  • Prepare ad hoc strategic financial analyses in support of asset management and senior management
  • Ability to work and communicate to varying levels of business stakeholders and technical teams.
  1. Compliance and Reporting:
  • Support portfolio and compliance department in monthly, quarterly, semi-annual loan reports to executive team.
  • Conduct file (physical and electronic) audits and provide status report to director of portfolio and compliance. 
  • Assist the portfolio and compliance department in the preparation of CDFI Fund (including ILR (Institution level Reports), TLR (Transaction Level Reports)), and other AMIS reporting and all reporting investor/lenders.
  • Assist the portfolio and compliance department in the maintaining of ticklers for internal and external reporting for the organization.

Qualifications:

  1. Education: Bachelor’s degree (or equivalent work experience), preferably in business, accounting, or finance.
  1. Previous Experience:
  • Minimum 3-5 years’ experience in accounting, finance, asset management, real estate, non-profit lending and participation loan. Experience working with a CDFI in NMTC or lending compliance/portfolio management (including AMIS) will be strongly preferred. 
  • Demonstrated understanding of credit and financial analysis, with formal credit training a plus.
  • Experience in preparing loan portfolio, lender and investor reports.
  • Ability to provide compliance-related support and guidance to various business group. 
  • Familiarity with construction lending practices and terminology.
  • Experience with Nortridge Loan Systems or other loan systems will be preferred.
     
  1. Special Knowledge and Skills:
  • Passion for community development/ for improving lives of individuals in underserved communities.
  • Strong attention to detail and analytical skills.
  • Proficiency in Microsoft Office with strong expertise in MS Excel.
  • Ability and willingness to work in an entrepreneurial organization positioned to grow.
  • Ability to work on multiple projects simultaneously.
  • Demonstrated oral and written presentation skills.
  • Proficiency with computer software including Excel and lending data bases.

NCIF is an equal opportunity employer and provides equal treatment and opportunity to all persons without regard to race, color, religion, national origin, sex, age, disability, veteran status or sexual orientation except where such distinction is required by law.

Please send cover letter and resume to Administration@ncif.org