Vice President of Lending and New Market Tax Credits

Company: National Community Investment Fund

Location: Chicago, IL

Job Function: Finance


National Community Investment Fund (NCIF) is an impact investor and national nonprofit Community Development Financial Institution (CDFI) formed in 1996 with a mission to increase access to responsible financial products and services in underserved communities. NCIF focuses on impact generation across economic opportunity, racial justice, and environmental justice issues. Total assets under management (AUM) at NCIF are around $228 million, including a balance sheet of $62 million and $166 million of New Markets Tax Credits (NMTC) allocations.  The current strategic plan seeks to grow the AUM by an order of magnitude. NCIF meets its mission via the following complementary lines of businesses:

  1. Equity Investing: We invest in/lend with mission-oriented financial institutions (CDFI banks, minority banks, CDFI loan funds and others) with equity, debt and deposits investments. NCIF is the largest private sector investor focused on CDFI banks with investments in 17 institutions (>10% of sector).
  2. New Market Tax Credit deployment: We have received $401 million in NMTC allocations and have catalyzed projects worth > $1.5 billion. We deploy into nonprofit and for-profit impact-oriented operating companies and real estate such as, health care facilities, and schools.
  3. Lending: This is a significant growth engine for NCIF with a focus on providing leverage to NMTC projects (NCIF and other CDEs), commercial real estate lending and growing focus on housing. To support this growth, we are syndicating loans among our partner banks (both buying and selling loans).
  4. Greenhouse Gas Reduction Fund related: Given the EPA’s new injection of capital we will increasingly focus on lending or investing in projects that meet the EPA’s priority areas in low- income communities around (a) net-zero buildings (b) zero-emission transportation and (c) alternative energy source (i.e. solar) in underserved communities nationally.

Impact measurement is the foundation of NCIF’s work and supports all our business lines. NCIF pioneered the use of Social Performance Metrics ( and is developing a Large Language Model/Generative AI based Data Analytics Platform to catalyze additional capital to the sector.


NCIF is entering its next phase and planning for accelerated growth over the next 5 years. To help in achieving this growth, NCIF is seeking an outstanding executive to join its growing fund management team and drive NCIF’s growth and increase its impact while building on its lending and investing efforts. The Vice President, Lending and NMTC will be responsible for developing the business, in allocated areas as follows (in conjunction with other NCIF Team members).


  • Originate, structure, underwrite, and close a pipeline of low-risk, high-impact commercial loans. Such loans may utilize NMTC, LIHTC or other government programs in participation with NMTC CDEs, housing lenders and NCIF network partners.
  • Deploy NCIF NMTC allocations in real estate and business operating loans.
  • Underwrite and prepare credit memoranda, close and asset-manage from inception to exit.
  • Drive, alongside other members of the NCIF team, the raising of private capital, preparing grant applications for the CDFI Fund NMTC and Financial Assistance programs or other grant programs, as needed.
  • Contribute to the development of NCIF Business strategy focused on growth and impact measurement. This includes the development of new lending and investing programs, new product areas like housing and climate finance etc.
  • Represent NCIF externally with potential and existing partners, as appropriate.
  • Serve as a mentor to junior members of the NCIF team around both technical credit skills and more intangible partnership skills.
  • Contribute to NCIF’s continued efforts to improve systems and processes, credit standards, and impact measurement and engage in real efforts to make a positive difference in low-income communities.


  • Passion for community and economic development.
  • 10+ years total experience in lending, credit risk management and/or capital markets (for example, public finance, debt capital markets, real estate finance); experience in a bank or a nonbank CDFI will be a strong positive.
  • Knowledge of and experience with NMTC deployment, Low Income Housing Tax Credits, structuring loans through government programs, public finance and other CDFI Fund programs (FA, Bond Guarantee, Capital Magnet Funds, etc.) will be a plus.
  • Deep experience in business development and relationship management.
  • Strong credit, structuring, underwriting, and portfolio management skills.
  • Experience with commercial real estate and commercial lending including loan participations and co-lending with other banks would be a strong positive.
  • Self-starter with the ability to form strong working relationships both internally and externally by demonstrating transparency and honesty to build relationships and collaborate with NCIF Network partners.
  • Flexibility and ability to think creatively about how to increase the impact of both NCIF and our partners.
  • A growth mindset, an excitement about building the business and an entrepreneurial approach to the ways in which that growth might occur.
  • Ability to represent NCIF externally as a relationship manager and on conference panels.

Compensation and Benefits

Salary is competitive and commensurate with experience. The exact salary that will be offered to the Vice President of Lending and NMTC will be determined based on a consideration of the successful candidate’s skills and experience and aligned with NCIF’s compensation policies. NCIF has a hybrid schedule with part remote/in-office work schedules. Preference will be given to candidates who are residents of Chicago or are willing to relocate.

How to Apply

Koya Partners, the executive search firm that specializes in mission-driven search, has been exclusively retained for this engagement. Erin Reedy and Christy Farrell of Koya Partners have been exclusively retained for this search. To express interest in this role please submit your materials by filling out our Talent Profile. All inquiries and discussions will be considered strictly confidential.