Company: Partners for the Common Good
Location: Washington, DC
Job Function: Accounting
Partners for the Common Good (PCG), a Washington, DC based community development loan fund, is seeking a Staff Accountant. Join a thought provoking and innovative leader within the Community Development Financial Institution (CDFI) industry.
Founded in 2000, Partners for the Common Good’s mission is to advance economic justice and opportunity for low-income people and communities. We do this by partnering with and promoting Community Development Financial Institutions (CDFIs) that promote affordable housing, neighborhood revitalization, healthy communities and other initiatives that create economic opportunity or reduce the racial wealth gap.
PCG founded the CDFI industry’s first wholesale loan participation network that today has partnered with 50+ CDFIs in Washington, DC and 37 states, currently originates $18-20 million in participation transactions annually, and currently has an outstanding portfolio of nearly $40 million. In 2021 PCG launched the projected $50 million Economic Justice Partnership Fund (EJPF), an innovative off-balance sheet facility to expand PCG’s product offerings to the CDFI community. PCG also participates as a community development entity (CDE) allocating New Markets Tax Credits (NMTC). To date, PCG has received $85 million in NMTCs. PCG also provides contract servicing and monitoring for two external portfolios.
PCG is a CDFI infrastructure organization focused on building the capacity of the sector to generate impact. To that end, PCG manages the Community Development Bankers Association (CDBA) and the CapNexus platform (CapNexus.org). CDBA is the national trade association for the CDFI banking sector and advocates for the industry and communities served by CDFI banks. CapNexus is a community development finance industry networking and information sharing platform with 800+ users and which has posted over $1 billion community development transactions. PCG is a leader in social impact assessment and public policy advocacy. Our work is pioneering in its creation of new tools and infrastructure for community development finance organizations to manage portfolios and grow their scale and impact.
PCG’s office is located in Washington DC.
The Staff Accountant is part of a team with the Chief Accounting and Administrative Officer and the Controller. The position reports directly to the Controller and is responsible for assisting both the CAAO and Controller with the financial management and general administration functions of the office. Position is full-time.
Duties and responsibilities include:
- Manage the entry of all transactions into the accounting system (Abila MIP Fund Accounting)
- Process vendor invoices, bills and employee expense reports
- Process investor payments and interest payments on investor CDNs
- Process accounts receivable invoices
- Prepare borrower check and wire payments for entry into the Portfol loan servicing software by Loan Servicing and Compliance Associate
- Verify borrower check and wire payments in the Abila MIP Fund Accounting system
- Process other bank deposits
- Maintain records on all financial transactions
- Maintain portfolio reconciliations of the loans outstanding and loan loss reserve
- Manage investor maturities, renewals, and interest donation campaigns
- Assist in preparation of documentation and materials for annual audit
- Assist in coordination of day-to-day office administrative functions
- Support Chief Accounting and Administrative Officer and Controller on special projects
- Other tasks as required
This position is perfect for someone with 2+ years of accounting experience. An Accounting degree is preferred, but not required. The position requires an interest in accounting, bookkeeping, and office administration. It also requires an individual who can manage multiple tasks at a time, pays attention to detail and can meet deadlines. Independence, interpersonal skills and flexibility are a plus. Basic computer and research skills along with knowledge of MS Office (Excel, Word, PowerPoint). Familiarity with contact management databases, such as Salesforce, is a plus. Familiarity with non-profit accounting, generally accepted accounting principles, and accounting systems preferred, but not required.
Compensation and Benefits
We offer a competitive salary, excellent benefits and a pleasant, challenging work environment.
Salary Range: $60k-$65k (negotiable)
How to Apply
For more information about the organization, and to apply, please visit our website at www.pcgloanfund.org/careers-and-internships.