Senior New Market Tax Credit Prgrm Offcr

Pennsylvania Housing Finance Agency•Harrisburg, PA

45d•Onsite

About The Position

The Senior New Market Tax Credit Program Officer serves as a core member of the Commonwealth Cornerstone Group team, responsible for asset management, compliance, project development and loan underwriting and risk analysis duties. Recognized subject matter expert with strong accounting skills who knows how to apply theory and put it into practice with in-depth understanding of the professional field with limited oversight from managers. Independently performs the full range of responsibilities within the function; requires deep job knowledge of area typically obtained through higher education combined with experience and functions with a high degree of autonomy. Commonwealth Cornerstone Group is a subsidiary of the Pennsylvania Housing Finance Agency (PHFA). This position will be located at the PHFA headquarters in Harrisburg, PA.

Requirements

Bachelor’s degree in real estate finance, economics, accounting or business-related field from an accredited four-year college or university.
Minimum five to seven years’ experience in real estate finance or related field preferably with loan underwriting and Federal Contract Management and/or New Market Tax Credit program experience.
Strong financial analysis skills with the ability to recognize financial issues through review of borrower financial statements.
Solid understanding of asset/portfolio management and/or real estate finance.
Proficient knowledge of QuickBooks and Microsoft applications.
Detail oriented and strong time management skills.
Professional level of customer service and ability to develop and maintain good working relationships with business associates, community leaders, colleagues, and staff.
Excellent verbal and written communication skills, including ability to effectively communicate with internal and external business partners.
Ability to work independently and carry out assignments to completion within parameters of instruction, deadlines, and/or standard accepted practices.
Flexibility of schedule when needed.

Responsibilities

Manage all aspects of CCG parent and Sub CDE portfolio accounting to include recordkeeping, loan servicing, fiscal and calendar year-end audit and tax prep
Manage all aspects of compliance reporting for CCG portfolio by organizing, collecting, verifying, and ensuring accuracy of compliance data on an annual basis, and by analyzing additional annual community impact reporting and borrower certifications.
Complete and submit ongoing compliance reporting per closing docs to investors, to include entity certifications, quarterly financial performance and semi-annual distribution testing for all sub entities and audit/tax reporting.
Maintain Federal Awards Management system agency profile and manage all Federal program reporting requirements.
Conduct pre-closing financial analysis/risk assessment on NMTC pipeline projects to assess borrower financial strength and mitigate risk.
Conduct post-closing financial analysis on NMTC project to understand and document on going compliance and community impacts requirements.
Work with disbursement agents and lending partners to monitor construction by reviewing and approving construction draws of Real Estate projects.
Continually assess project and partnership risk factors as they pertain to compliance with Section 45 (NMTC) provisions, allocation agreement requirements, and operating agreement conditions.
Monitor loan defaults and ensure there are no mechanic liens or other non-permitted encumbrances on the project.
Assist with the preparation, modification, and distribution of annual community impact questionnaires.
Maintain database information integrity as it relates to compliance data, financial reporting, construction updates, and project information.
Lead project underwriting and vetting of projects for pipeline development and project closings.
Lead New Market Tax Credit project unwinds.
Participate in New Market Tax Credit application preparation.
Develop and maintain strong working relationships with projects, investors, CCG consultant and external legal and accounting teams.
Other varying accounting tasks as directed by superiors.