Associate

Background

Located in downtown Chicago, SB Friedman provides analytical, strategic and financial consulting services in support of complex, high-impact development projects. Founded in 1990, we serve a full range of clients in the public, private and nonprofit/institutional sectors. Today, our team of 36 full-time employees is committed to our mission of helping clients create equitable, resilient and well-designed communities through the practice of real estate economics, development finance and urban planning. Our community development finance practice includes 12 full-time employees working with a range of nonprofits, affordable housing developers, mission-based companies, and community development financing partners to facilitate impactful development in low-income communities across the United States.

Summary

SB Friedman Development Advisors is seeking an associate position to work with our growing Transaction Closing and Asset Management (TCAM) team within our New Markets Tax Credit (NMTC) practice to support equitable, innovative, and impact-driven real estate projects nationwide.

This position will involve all aspects of SB Friedman’s community development finance practice, gaining exposure to high-impact real estate projects, deal structuring, asset management, and public-private financing. Our work brings to fruition real estate projects that support vital social and economic infrastructure, including affordable housing, healthcare, education, healthy foods, and quality jobs.

The ideal candidate for this position is an intellectually curious critical thinker who enjoys problem-solving and is committed to using their skills to drive equity-focused investments. The successful applicant will be resourceful, detail- oriented, and constantly looking to expand their base of knowledge and skills.

Direct experience or training in all areas of work and key responsibilities listed below is not required. We are seeking a candidate that brings motivation, curiosity, and an ability to learn skills on the job.

This role is hybrid, with in-office work based in downtown Chicago several days per week.

Responsibilities

• Play a vital role in the financing of transformative real estate projects across SB Friedman’s national footprint
• Support the Transaction Closing and Asset Management (TCAM) team with a variety of portfolio management tasks such as client reporting, debt and distribution cash movements, bookkeeping, compliance, and more
• Maintain communication and build relationships with mission-driven borrowers and investors
• Monitor the construction of new projects and assist in the disbursement of construction funds
• Collect, review, and track borrower financial and compliance reporting
• Assist Community Development Entity (CDE) clients with the investment unwind and exit process
• Provide key financial underwriting and analysis support for community development real estate projects
• Assist in structuring diverse financing tools, including New Markets Tax Credits (NMTC), public subsidy sources, private capital, and philanthropic grants and impact investments, to support challenging, high-impact projects
• Support the transaction closing process by reviewing/generating diligence documents and participating in group calls
• Track and refine project budgets and available funding sources
• Help clients understand their obligations and commitments within the financing structure
• Develop and enhance our systems and practices to support efficient, accurate work

Requirements

• Bachelor’s degree in finance, accounting, economics, business administration, real estate, or another relevant field
• 1+ year relevant experience, including internships and analogous work experience
• Direct experience in finance and/or accounting, gained through work, internships, or academic study, is preferred
• Strong quantitative analysis skills, particularly using Microsoft Excel
• Strong analytical and communication skills
• Interest in equitable community and economic development, impact investing, or related topics

Compensation and Benefits

• Expected base salary for this position ranges from $70,000 to $80,000. Actual salaries may vary based on several factors, such as a candidate’s qualifications, skills, and experience
• Performance-based bonus compensation
• Generous benefits package, including: 100% company-paid medical and dental insurance premiums, 401(k) with employer contribution, flexible spending programs for health and childcare expenses, pre-tax transit benefits, employer-sponsored bikeshare membership, free membership to onsite building gym, paid vacation time, paid sick time, paid parental leave, and 11 paid holidays with the ability to float holidays
• Hybrid in-office/remote work policy
• Paid membership in a professional organization (or other professional development)
• Firm-wide volunteering events in metro Chicago
• Regular peer-delivered “brown bag” sessions on topics of professional interest
• Monthly happy hours and staff get-togethers

How to Apply

Please submit a single PDF that includes both your cover letter and resume. This helps us better understand your interest in the role and how your background aligns. Application materials can be submitted via LinkedIn or emailed directly to [email protected].

All applicants will be afforded equal opportunity without discrimination because of race, color, religion, ethnicity, sex, gender identity or expression, sexual orientation, age, ancestry, national origin, genetic information, height, weight, physical or mental disability unrelated to ability, pregnancy, marital status, familial status or responsibilities, parental status, cultural differences, physical appearance, arrest or conviction record, political beliefs, partisan considerations, military status, matriculation, credit information, or any other protected classification under federal, state or local law. To view our firm’s Civil Rights Compliance and Affirmative Action Plan, please contact us at [email protected].