Job Description
Job Description
VISION STATEMENT: People in every community have an affordable place to live and opportunities to thrive.
MISSION STATEMENT: We work with partners to connect underserved communities in the northern New England region with capital and expertise to advance projects and policies that create more inclusive places to live.
SUMMARY:
The NMTC Program Manager executes the day-to-day operations of Evernorth’s New Markets Tax Credit (NMTC) program. The position ensures compliance with program award and investor agreements; develops, coordinates, oversees, and executes a pipeline of NMTC investments from intake to compliance end; and supports strategic goals to ensure tasks and deliverables are met.
RESPONSIBILITIES:
- Plan, develop, and manage a pipeline of qualified NMTC investment opportunities that align with Evernorth Rural Ventures’ (ERV) business strategy, NMTC program requirements, and Evernorth impact objectives.
- Manage the full lifecycle of NMTC transactions from intake and pipeline placement through investment proposal, closing, and compliance. Ensure complex transaction underwriting and closing documentation; requisitioning, payment, and distribution of funds; compliance reporting; and unwind for each project.
- Support sponsors and developers in their efforts to bring forward a financeable NMTC transaction. Collaborate with senior leadership and sponsor teams to secure debt and equity capital for NMTC transactions.
- Maintain relationships with NMTC investors and lenders, and other financial partners.
- Analyze potential NMTC opportunities, anticipate challenges, and mitigate structural, operational, and compliance risks.
- Work with compliance and asset management consultants to ensure adherence to CDFI Fund allocation agreements, QALICB compliance, and investor requirements, including CDFI Fund reporting.
- Work with senior leadership to negotiate deal terms and evaluate key transaction points.
- Manage attorneys, accountants, and external consultants to ensure timely and accurate execution of legal and financial documentation.
- Work with Finance to ensure investor reporting, sub-CDE operations, capital flow, payments, disbursements, and unwinds of investments.
- Work with Risk Management to ensure project requisitioning of funds compliance and alignment with approved budgets and timelines.
- Staff ERV Governing and Advisory Boards.
- Prepare or oversee preparation of project summaries, investment proposals, and impact documentation consistent with ERV’s business strategy, investment criteria, and risk management protocols.
- Assist in planning, writing, and managing future NMTC allocation applications.
- Collaborate with other NMTC allocatees when ERV’s allocation is insufficient.
- Maintain a working level knowledge of NMTC program compliance, NMTC tax issues, federal and state funding and incentive programs, and financing options.
- Support other Evernorth business activities, as needed.
TEAM & CULTURE:
- Maintain high standards of confidentiality and professionalism.
- Uphold corporate principals of respect, service, value, and partnership.
- Advise on program goals, capacity, planning, and processes with Senior staff.
- Carry out other duties as assigned.
REPORTS TO: Vice President, Community InvestmentsSUPERVISES: NoneEDUCATION, LICENSES AND/OR & CERTIFICATIONS REQUIREMENTS:
- Bachelor’s degree in business, finance, economics, real estate, or related field required.
- Formal real estate, tax credit, economic development, community development, business credit, underwriting or financial analysis training is strongly desired.
- Valid Driver’s License required.
- Criminal background check.
JOB KNOWLEDGE AND EXPERIENCE
- 3+ years of direct NMTC experience; or five years of related experience in community or economic development, tax credit incentivized, or Community Development Financing Institution (CDFI) financing; complex business or commercial real estate development financing fields.
- Experience in underwriting complex economic development, real estate tax credit, community development or financing.
- Working knowledge navigating complex financial models, tax benefit financing structures, programmatic compliance, investor objectives, mission, and credit risk.
- Working knowledge of raising and deploying capital for community development, NMTC syndication, and CDFI Fund NMTC program requirements preferred.
- Familiarity with array of legal documents used in tax credit or real estate financing.
JOB ESSENTIAL SKILLS
- Key competencies include real estate or community development finance and underwriting; analytical and critical thinking; solution-oriented problem solving; project management; interpersonal skills; and promoting the mission of Evernorth to its partners and the public through a variety of means.
- Building and maintaining strong relationships with professional integrity.
- Proficiency in Microsoft Office (Excel, Word, Outlook).
- Strong organizational, analytical, problem-solving, and financial analysis skills.
- Excellent written and verbal communication; effective relationship builder; and proactive initiative taker.
- Skilled at working with a wide variety of people in a wide variety of locations via phone, video, email, and in person.
- Skilled negotiator to move all parties toward shared goals and resolution of issues.
- Capable of managing multiple, time-sensitive transactions at different stages concurrently.
- Comfort with complex spreadsheets and fast-paced environments.
- Adaptability, focus, and responsiveness to shifting priorities.
- Commitment to Evernorth’s mission and community impact.
The following are the general Evernorth work environment and physical demands:
- Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
- The noise level in the office work environment is usually quiet.
- This position requires periods of sitting, standing, walking, stooping, and bending.
- Ability to reach with hands and arms, and talk and hear.