Strategic Financing Services - Community Development Associate

Cherry Bekaert•Louisville, KY

12d•$72,000 - $104,000

About The Position

Cherry Bekaert’s Strategic Financing Services Practice (SFS) is seeking a Community Development Associate with a background in the New Markets Tax Credit (NMTC) or similar program area. We offer an opportunity to work with a team of experts with a deep track record in NMTC allocation applications, tax credit placement and deployment, and tax credit compliance and asset management services. The Community Development Associate will support the process for writing NMTC Allocation Applications for the portfolio of client community development entities (CDEs) and support the grant writing and applications process for clients seeking funding from other tax credit and funding programs. The Associate will also support NMTC Compliance and Asset Management activities for Community Development Entities (CDEs) and Qualified Active Low-Income Community Businesses (QALICBs) and assist with a variety of services, including filing the CDFI Fund’s AMIS reports. Further, the Associate will assist the Project Finance team as they build a pipeline of potential borrowers and structured finance opportunities. The Associate will also support the work of our Community Development Consulting work, as needed, helping with presentations, memos and due diligence of potential CDE clients. The successful candidate will work with the team as we expand into new markets and regions using in-depth knowledge of and relationships with CDEs, tax credit investors, and other community development stakeholders. The candidate will have strong attention to detail, commitment to deadlines and a mission to help make a difference in low-income communities. About SFS: SFS has been involved in the NMTC industry since its inception and to date has secured over $1.7 billion in NMTC funding. SFS is proud to have structured and facilitated NMTC investments that have created 32,880 direct jobs, served 655,382 low-income individuals through community goods and services, and helped develop over 13.2 million square feet of new and improved commercial and industrial real estate. SFS’s current portfolio consists of investments in areas with poverty rates as high as 66%, median family income as low as 14.24%, and unemployment rates as high as 31.2%.

Requirements

3+ years of professional/industry experience in grant writing, community development finance, tax credit finance or CDE/CDFI Lending
Strong written communication skills
Knowledge of tax credit finance, data and/or reporting, with specific experience with NMTC and CDFI Fund’s AMIS reporting preferred
Passion for community investment and revitalization that will spark transformation, inclusion, and social justice
Ability to be flexible and work under fixed timeframes to meet deadlines
Experience in working with borrowers, lenders, investors and stakeholders
Ability to work independently and collaboratively on different phases of projects
Capable of prioritizing workflow and managing compliance and reporting obligations
Proficiency in Word, PowerPoint and Excel
BA in English, Journalism, Finance, Economics, Planning or related field preferred

Responsibilities

Support the NMTC Allocation Application writing process for CDEs, including: Supporting the primary writer of the Application by reviewing and summarizing supporting documents for strategic and technical use in the application. Support the drafting and review of compelling business strategies, community outcomes and other narratives to maximize scoring and increase the likelihood of successful outcomes. Identify and review appropriate NMTC pipeline opportunities to suit unique CDE needs (considering geography, project type, community impacts, etc.) Synthesizing and incorporating industry terms, trends and data to support business strategies, community outcomes and compelling applications.
Support the NMTC Compliance and Asset Management activities, including: Support the team with loan closing documents and reporting requirements. Support the submittal of annual CDE compliance reports sent to the U.S. Treasury Department’s CDFI Fund via the AMIS reporting system. Monitor CDE compliance with NMTC Program and Allocation Agreement including analysis of Sub-All and Redemption testing. Support drafting of QALICB certifications and community impact information, quarterly project level financial statements and compliance reports. Provide CDE portfolio data to Application Writing team, as needed
Support the Project Finance team, including: Collect, package, and manage due diligence on potential borrower and Project Sponsors. Gathering data, drafting memos, assisting with fundings/closings
Support of overall SFS team, including: Collaborating with SFS team participants to provide effective, prompt and detailed support as required for submission of various funding applications and/or financial closings. Support with PowerPoint presentations, data gathering/summarizing, scheduling and materials preparation. Other job-related functions as assigned.

Benefits

Our shared values that foster inclusion and belonging including uncompromising integrity, collaboration, trust, and mutual respect
The opportunity to innovate and do work that motivates and engages you
A collaborative environment focused on enabling you to further your career growth and continuous professional development
Competitive compensation and a total rewards package that focuses on all aspects of your wellbeing
Flexibility to do impactful work and the time to enjoy your life outside of work
Opportunities to connect and learn from professionals from different backgrounds and with different cultures
medical
dental
vision care
disability and life insurance
generous Paid Time Off
retirement plans
Paid Care Leave
annual bonus