Capital Investment NMTC Compliance & Loan Closing Manager

Company: Primary Care Development Corporation

Location: New York, NY

Job Function: Lending/Loan Operations


Background

Primary Care Development Corporation (PCDC):  Catalyzing Excellence in Primary Care. Quality primary care is transformative and a cornerstone of healthy, thriving communities. PCDC, a nationally recognized 501(c)(3) community development financial institution (CDFI), catalyzes excellence in primary care through strategic community investment, capacity building, and policy initiatives to achieve health equity.

Summary

The Capital Investment CDFI Compliance & Loan Closing Manager will be responsible for coordinating and facilitating all loan closing activity for PCDC, including balance sheet lending and NMTC transactions. This role will also support the underwriting, structuring, closing, asset management and unwinding stages of NMTC transactions. The ideal candidate will have experience with real estate transactions including loan document review and working through title and escrow as well as familiarity with the NMTC program. This position is part of PCDC’s Portfolio Management team and will report to the Senior Director of the team.

Responsibilities

  • Oversee all aspects of NMTC compliance, including supporting initial NMTC eligibility and compliance tests for transactions, ensuring ongoing compliance throughout the seven-year compliance period and through the unwind in accordance with NMTC program standards
  • Maintain a thorough and up-to-date understanding of the tax and compliance requirements related to NMTC and monitor developments in the industry related to tax credit compliance. Disseminate knowledge to colleagues to inform Capital Investment practice and PCDC’s NMTC program.
  • Manage loan closing process for balance sheet loans once a commitment letter has been issued, including coordinating with internal PCDC teams such as Finance, external PCDC counsel, and borrower and borrower counsel
  • Review loan documents to ensure consistency with internal approvals and commitment letters
  • Ensure all required due diligence items such as title and survey, environmental reports, appraisals, property condition reports and third-party contracts are reviewed and satisfactory prior to loan closing and disbursement of funds
  • Maintain a culture of quality customer service at all points of contact with internal and external clients, Capital Investment team, staff, board and committee members, lending partners and professionals.
  • Ensure efficient and productive communication and coordination with the senior management and the entire lending team to ensure sound compliance practices
  • May provide PCDC’s consultant team with contracting support
  • All other duties as assigned

Requirements

  • Minimum of three years lending experience in community development and/or community facility financing, preferably with a CDFI or other community development lender
  • Bachelor’s degree in relevant field (Masters degree preferred)
  • Paralegal certificate or degree preferred
  • Knowledge of NMTC and CDFI Fund compliance and reporting requirements preferred
  • Experience reading and understanding complex legal and related closing documents and NMTC projections
  • Knowledge of, or commitment to, the health care industry and primary health care
  • Strong oral and written communication skills
  • Strong interpersonal skills and proven ability to work effectively with a wide variety of people and organizations, and in culturally and ethnically diverse environments
  • Self-motivated, with a positive attitude, and ability to meet deadlines independently
  • Excellent teamwork and strong time management skills

Compensation and Benefits

*Annual Salary range: $105K-$115K

We offer a competitive salary and comprehensive benefits package, including:

  • Medical
  • Dental
  • Vision
  • HRA
  • STD – company paid
  • LTD – company paid
  • Life Insurance – company paid
  • Voluntary Life
  • 403(b) retirement
  • Flexible Spending account (FSA)
  • Dependent Care (DCA)
  • Commuter Benefits
  • Paid Family Leave
  • Generous paid vacation, sick and personal days
  • Paid holidays
  • Employee Assistance Program (EAP)
  • Public Service Loan Forgiveness (PSLF) application support.

How to Apply

For immediate consideration, please apply on our website at https://www.pcdc.org/about-pcdc/career/ .

For consideration, all applicants are encouraged to include a thoughtful cover letter, resume, and available start date.

This position will be 100% remote (working from home). PCDC employees in the NYC metro area are requested to come to the office 1-2 times per month.