Posted on February 15, 2012
Program Manager, New Market Tax Credit
Seedco Financial Services
Seedco Financial Services - Program Manager, New Market Tax Credit
Seedco Financial is a national, nonprofit community development financial institution (CDFI) with $190 million in assets under management. Working with local partners, Seedco Financial provides affordable financing and technical assistance to small businesses, nonprofit organizations, and anchor commercial projects in low-income and economically distressed communities. Its financing programs are designed to fill critical capital and capacity gaps within local markets. Seedco Financial is a subsidiary of Seedco, a national community development intermediary that creates opportunities for low- wage workers and their families in economically distressed areas.
The New Markets Tax Credit Program Manager will oversee the operation of Seedco Financial’s community development entity, Empowerment Reinvestment Fund, LLC and the New Markets Tax Credit Program.
- Develops and implements a plan for utilizing additional allocations of New Markets Tax Credits;
- Develops and Maintains an active pipeline of potential investments;
- Perform underwriting of prospective transactions;
- Draft memorandum for the Seedco Financial Board detailing the specifics of each New Markets Tax Credit transactions;
- Oversees New Market Tax Credit program operation and compliance to CDFI Fund and investors and managing NMTC borrower portfolio;
- Manages key relationships with investors, community development entities, government agencies, and other strategic partner organizations;
- Works with outside counsel to manage closing of New Markets Tax Credit transactions;
- Works with Seedco Financial fiscal department and outside auditors to manage completion of quarterly and year end financials, audits and tax returns; and
- Oversees future applications for obtaining additional allocations of New Markets Tax Credit.
- Bachelor’s degree required, advanced degree preferred;
- 5-7 year work experience, preferably in project finance, banking, or community/economic development;
- At least 2 years of relevant experience in working with government incentives, experience within NMTC industry preferred;
- Strong writing, analytical, interpersonal, time-management and communications skills required;
- Experience analyzing financial statements, cash flow statements and project financials such as pro formas and construction budgets;
- Experience in transaction management;
- Must be organized, detail oriented and have the ability to work effectively under pressure in both a team setting and individually;
- Experience working with banks, institutional lenders, nonprofit organizations, community groups, and government agencies preferred; and
- Commitment to innovative economic development and investment in underserved communities.
Interested applicants should send their resume and a brief cover letter to: SFSjobopenings@seedco.org, with the subject line “Program Manager, New Market Tax Credit (Ref# 12-001)” Due to the large volume of applications we receive, we are unable to personally acknowledge the receipt and status of each one. Only candidates selected for an interview will be contacted.
Please visit our website www.seedcofinancial.org/careers for other job opportunities.