Company: CSH - Corporation for Supportive Housing
Locations: New York, NY; Chicago, IL
Job Function: Finance
For over 30 years, CSH has changed the lives of people who have been marginalized and are our most vulnerable neighbors by:
- Helping communities create over 385,000 homes for individuals and families who did not have one;
- Bringing hope to thousands who thought they would live on the streets or reside in institutions; and
Ensuring not only a stable home for each, but access to the services that brought healthcare, recovery and training to their doorsteps
CSH has proven supportive housing can change the lives of individuals, families, and communities. We have created a team of nationally recognized experts who are dedicated to our organization and its goals. We attract talented and diverse individuals, offer competitive salaries and benefits, generous leave and paid time off, and fully embrace the philosophy that work-life balance is achievable. With the goal of attracting proven candidates committed to making a difference and who aspire to advance our mission, CSH is now accepting applications for a New Market Tax Credit (NMTC) Portfolio Manager. Strong preference will be given to candidates able to work from the Chicago, IL or the New York, NY offices on a hybrid work schedule.
CSH is seeking a creative, results-oriented individual committed to racial equity, advancing anti-racism practices, and sharing their talent to support a mission-driven organization that leads efforts to expand housing and service solutions for highly impacted populations. Your expertise is needed on our Community Investment Team to help to manage our growing New Markets Tax Credit (NMTC) portfolio, consisting of projects that provide healthcare and social services to vulnerable people, and include on-site supportive housing or serve and/or connect those in need to supportive housing. As a NMTC Portfolio Manager, you will monitor project performance and operational risk, and will help to ensure compliance with U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) NMTC program requirements.
In collaboration with CSH’s NMTC and Finance Teams, you will:
- Review NMTC financial model and loan documents prior to closing to ensure that required reporting, disbursement procedures, and closing conditions are included and meet CSH’s requirements.
- Review and approve monthly construction draw requests and work with CSH’s Finance Department to disburse and transfer funds.
- Collect, monitor and review required compliance reporting from Sponsors/Borrowers to ensure reporting its completed on-time and in accordance with all reporting requirements.
- Collect, enter, and manage annual community impact reporting for each project.
- Assist in preparing the organization’s annual NMTC application to the CDFI Fund and the annual reporting submission in its Award Management Information System (AMIS); establishing new subsidiary CDEs; and finalizing and/or amending allocation agreements with the CDFI Fund as needed.
- Facilitate site visits, review quarterly financial statements for borrowers and guarantors, monitor overall project performance against projections, and complete risk ratings for closed projects through the NMTC compliance term.
- Identify and address compliance and/or operating issues, and in coordination with investors and co-lenders, identify strategies and implement procedures to improve project performance and/or mitigate risks.
- Create and maintain reports and data on closed projects for CSH’s NMTC Advisory Board, Loan Project Review Committee, and Management/Board of Directors; Investors; the CDFI Fund; and/or other stakeholders, as needed.
- Establish and manage sub-CDE general ledgers and bank accounts; prepare financial statements; and work with external auditors and tax accounts to ensure program compliance at closing and throughout the NMTC compliance term.
- Oversee NMTC Loan servicing, including interest, fee and tax payments, and in coordination with Finance Team, process loan payments and distributions.
- Coordinate accounting and financial reporting, including preparation of work papers for annual financial audits and tax filings for auditors, and financial and related reports to investors.
- Help to oversee and manage overall compliance with NMTC program requirements.
- Keep current of CDFI Fund NMTC compliance and reporting requirements, and recommend changes to CSH’s NMTC policies and procedures as needed.
- Cultivate and maintain positive working relationships with project sponsors/borrowers, investors, co-lenders, and other external NMTC partners, including consultants, attorneys, and tax accountants.
- Prepare project summaries, data, and/or other reports/materials related to our NMTC portfolio/projects for CSH staff, partner organizations, and/or general communication, website or marketing purposes.
- Represent CSH at conferences, trainings and events, and present to internal and external audiences.
CSH staff are adaptable, entrepreneurial, creative, and flexible problem-solvers. We are strategic thinkers who are committed to racial equality and treating each other—and the communities we serve—with respect. You should share a passion for the CSH mission and possess the leadership and management skills to help shape how we share our ambitious mission. Specifically, we are seeking:
- Bachelor’s degree, but experience may substitute for education.
- Minimum of 5 years’ experience in accounting, finance, asset management, real estate, and/or non-profit lending.
- Prior experience in community development, affordable/supportive housing, government/public funding programs, and compliance reporting is desired, particularly for CDFI Fund programs. Prior NMTC experience is a plus, but is not required.
- Interest in issues related to supportive housing including homelessness, affordable housing development, public finance, public housing, community development/planning, or support service programs that address mental illness or substance use issues.
- An understanding of the concepts of institutional and structural racism and bias and their impact on underserved and underrepresented communities.
- Experience incorporating the perspectives of multiple communities, including communities of color, in the consideration of impacts and outcomes of a decision-making process.
- Success in project management, including helping to develop systems and teams to advance CSH’s goals related to supportive housing and services development and finance-related activities.
- Strong analytical, interpersonal, presentation, and communication skills with an ability to present to racially, ethnically, and socially diverse stakeholders.
Compensation and Benefits
CSH offers generous benefits, opportunities for professional growth, and competitive salaries based on geographic location. Our range for the NMTC Portfolio Manager in Chicago is $87,000-$108,000; in New York City, the range is $95,000-$119,000. Our ranges are broad, and it is customary for candidates to join CSH at the lower half of the range to leave room for growth, learning, and development in the role and range. It is uncommon for starting salaries to fall above the mid-point. We negotiate actual salaries with final candidates based on their exact location, experience in similar roles, and expertise related to the qualifications. This information is offered in support of our commitment to transparency.
How to Apply
Interested in joining our team as a leader in the national supportive housing movement?
Candidates should apply through the link. All candidates should attach their Resume, Cover Letter, and Salary Expectations as one Microsoft Word or PDF document.