Company: Low Income Investment Fund

Locations: San Francisco, CA; Los Angeles, CA; Atlanta, GA; New York, NY; Washington, DC

Job Function: Lending/Loan Operations



Low Income Investment Fund (LIIF) is a national community development financial institution (CDFI), headquartered in San Francisco with offices in New York City, Atlanta, Los Angeles and Washington, D.C., that invests in communities of opportunity, equity and well-being. As a CDFI, LIIF supports projects that have high social value but lack access to traditional financial institutions. Since 1984, LIIF has deployed more than $3.1 billion to serve more than two million people in communities across the country from its five offices. An S&P-rated organization, LIIF funds healthy communities by providing innovative capital solutions. Currently, LIIF is driving $5 billion in investments to advance racial equity (2020-2030). More on LIIF can be found at



The Manager, New Markets Tax Credits (NMTC), is responsible for the overall asset management of a portfolio of transactions that use NMTCs with or without loans to support the development of charter school, community health care, childcare, mixed-use and other community facilities. In this function, the Manager with work closely with the Deputy Director of New Markets Tax Credits, the Deputy Director of Asset Management and Chief Credit Officer.

This role will also support LIIF’s organizational-level program and compliance activities for NMTCs, which will require collaboration with various departments within LIIF, including Lending, Finance and the General Counsel as well as external parties outside of LIIF such as NMTC Investors, Borrowers and other Allocatees.

As part of the National Community Facilities and New Markets Tax Credit (NCF & NMTC) team, the Manager ultimately works to support the achievement of regional and overall NCF & NMTC work plan goals and supports the operational effectiveness of LIIF’s NMTC activities.


The Manager, NMTC reports to the Deputy Director, NMTCs, with a “dotted line” reporting relationship to the Deputy Director of Asset Management.



NMTC Portfolio Management:

  • Loan Monitoring – The Manager is responsible for the ongoing asset management of a portfolio of transactions that utilize LIIF’s NMTC product, including construction loan monitoring and draw approvals. The position includes developing a relationship with each borrower and conducting regular loan monitoring reviews. The Manager will prepare credit reviews for each loan on a regular schedule to review overall asset and credit quality, including performance against original underwriting expectations and ongoing compliance with NMTC program requirements. Such reviews evaluate information including borrower/sponsor financial condition and operating performance, rent rolls, project status reports, covenant tracking and compliance, and overall analysis of the credit condition of the borrower/sponsor, as informed by a complete understanding of LIIF’s relationship with and exposure to the sponsor developed in collaboration with the Loan Officer and other LIIF staff. The Manager is responsible for risk analysis and making risk rating recommendations to senior management by integrating and analyzing these data and making judgments on their significance and quality.
  • Construction Disbursement Management – The Manager will review and approve the construction draw packages prepared by Loan Administration.  This review includes review of disbursement tracker, AIA documentation, construction monitoring’s site observation reports, and title reports.  The Manager ensures LIIF construction funds are disbursed in compliance with loan documentation, loan budget, lien law, and designated timelines.  The Manager monitors the construction budget and timeline, and takes proactive steps to support on time and on budget project delivery, which may include regular calls with construction teams, management of budget line item reallocation, or ensuring borrower secures additional funding for project overages.
  • Site Visits – The Manager conducts regular site visits and prepares site visit reports for loans in their portfolio in accordance with LIIF’s lending procedures. National portfolio, some travel required
  • Loan Extensions and Modifications – The Manager will be responsible for any required loan extensions and modifications in their portfolio. For loans where the borrower is seeking an extension or modification, the Manager will work closely with the borrower to provide an assessment of the necessity, feasibility and credit-worthiness of such extension or modification, and communicate same with the Deputy Director of NMTCs, Deputy Director of Asset Management and the Chief Credit Officer.   The Manager will conduct an analysis of the credit and then make and support a recommendation as to the extension or modification terms and conditions, if an extension or modification is deemed appropriate.
  • Non-performing Loans –The Manager will work under the direction of the Chief Credit Officer, Deputy Director of NMTC and Deputy Director of Asset Management in managing special attention or non-performing loans in their portfolio that include LIIF debt including but not limited to: conducting site inspections, appraisal reviews, borrower and project financial analyses; participating in developing loan restructuring strategies and alternatives; monitoring compliance with loan restructure agreements, and preparing monitoring reports and action plans.
  • Portfolio Data Collection and Reporting  – The Manager will collect portfolio credit data and analysis in support of audits and reports managed by Finance and Originations teams such as those for Standard & Poors, the U.S. Department of Education, and the CDFI Fund.
  • NMTC Unwinds – The Manager will lead the formal unwind process for their NMTC transactions, which occur at the end of the NMTC compliance period. This involves working closely with legal counsel to structure the Unwind, secure internal credit and business approvals, and negotiate the necessary legal documents.

NMTC Program Management

  • NMTC Transaction-level Activities: The Manager, NMTC, working closely with the other members of the NCF & NMTC team, leads LIIF’s reporting efforts to the CDFI F This includes management of LIIF’s NMTC-related IT system, engaging with CDFI Fund compliance staff, and leading the completion of LIIF’s annual transaction-level reporting to the CDFI Fund.   This will involve collaboration with other NMTC Allocatees on impact data.
  • Pipeline Development and Deal Closings-Attend industry events/conferences and assist in pipeline development for the NMTC award application. Support Vice President, NCF & NMTC and Deputy Director, NMTC with deal closing documentation including NMTC compliance and Community Benefits Agreements and Multi-CDE Agreements.
  • NMTC Award Application Assist the NCF & NMTC and Impact Investing teams with the annual NMTC award application to the CDFI Fund through collection and analysis of community benefits information and outcome data.
  • Advisory Board Assist in preparing and presenting materials to the NMTC Advisory Board.
  • Other Duties as Assigned

Customer Service
: The Manager will maintain a positive and professional relationship with LIIF’s internal associates as well as external customers and business partners (which include third party lenders, attorneys, NMTC Investors or other Allocatees) by both initiating and responding promptly to any and all requests in a responsive, consistent, and accurate manner.



The ideal candidate for this position will have these key qualifications:

  • Two or more years of experience in real estate-based lending and/or business lending, including borrower contact, credit analysis, due diligence and loan documentation;
  • Proficiency in analyzing financial statements of for-profit and nonprofit organizations and their real estate operations (in particular, rental housing and community facilities occupied by a single tenant). Familiarity with basic accounting principles including the ability to translate cash to accrual accounting and vice versa.
  • Familiarity with federal, state, and local government funding sources for capital and operating needs of multi-family housing, special needs housing, and community facilities (e.g., child care centers, educational programs, health clinics, etc.)
  • Working experience with both private sector financial institutions and public agencies
  • Basic familiarity with business law concepts including contracts, loan collateral, uniform commercial code, creditors’ rights and forms of business organization and sufficient knowledge to review and negotiate loan documents.
  • Proficiency with Microsoft Office Suite Programs, and other database software
  • Excellent skills in managing multiple tasks requiring strong attention to detail
  • Experience with New Markets Tax Credits a plus

Educational background should include a bachelor’s degree; an advanced degree is a plus. In addition, the position requires a high degree of self-motivation, dedication, creativity, and perseverance; flexibility with time and willingness to accept a demanding (and personally satisfying) position.  Excellent teamwork and strong time management skills are essential.  Travel is required, and candidates must have a valid driver’s license.


Additional Requirement:
All Low Income Investment Fund (LIIF) employees must be fully vaccinated against COVID-19. In accordance with LIIF’s policies, we provide reasonable accommodations, absent undue hardship, to qualified individuals who cannot get vaccinated against COVID-19 because of sincerely held religious or medical reasons. If you believe you need an accommodation from the vaccination mandate required by this policy, please notify our Human Resources Department.

Compensation and Benefits

Salary range: $115,000 to $125,000 Annually
Medical, Vision, Dental, Life, 401k

How to Apply

Please apply with Resume and Cover Letter via our recruitment portal:

Recruitment (


Notice to Third Party Recruitment Agencies:

Please note that Low Income Investment Fund does not accept unsolicited resumes from recruiters or employment agencies.  In the absence of an executed Recruitment Services Agreement, there will be no obligation to any referral compensation or recruiter fee.

In the event a recruiter or agency submits a resume or candidate without an agreement Low Income Investment Fund shall explicitly reserve the right to pursue and hire those

candidate(s) without any financial obligation to the recruiter or agency. Any unsolicited resumes, including those submitted to hiring managers, shall be deemed the property of Low Income Investment Fund.

We do not accept unsolicited phone calls. Only candidates being considered for a position will be contacted. 

LIIF, an EOE (Equal Opportunity Employer), believes that diversity ensures excellence. All qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender, or national origin. Candidates of diverse background and with diverse experience are strongly encouraged to apply for this position.