The Structured Finance Associate assumes responsibility for analyzing and coordinating New Market Tax Credit financing for nonprofit organizations and mission-oriented for-profit developers. The Structured Finance Associate takes an active role in developing new opportunities and building strong client and interdepartmental relationships. The Structured Finance Associate works on many projects simultaneously, participates in departmental planning meetings for projects, is an active team member on projects while supporting CapSol lending and other business activities, as required. The Structured Finance Associate will work closely with the Managing Director of Structured Finance to ensure alignment and consistency on completion of Department deliverables.
Duties and Responsibilities:
- Assists with approval and closing of the New Market Tax Credit transactions, where IFF is an allocatee:
- Assembles due diligence materials and responds to information requests to support the approval and closing process.
- Coordinates efforts in facilitating financing for the project, including preparing letters of intent and term sheets.
- Evaluates scope of services in support of the project (attorneys, tax accountants, IFF’s Real Estate Services, IFF loan terms), as appropriate.
- Prepares the underwriting package and presents deals to the Loan Committee and Community Advisory Committee.
- Participates, coordinates and monitors the deal closing process.
- Assists in unwinds of the New Market Tax Credit transactions
- Assists lenders with approval and closing of the source and leverage loans to the New Market Tax Credit transactions, where IFF is not an allocatee, as needed.
- Assists the team with understanding the funding and compliance aspects of the deal, specific to New Market Tax Credits.
- Supports the originations team during the approval and closing process. 3. Participates as a team member in the preparation of the NMTC application, including data collection, customer surveys, and quantitative impact analysis.
- Participates in annual compliance reporting to the CDFI Fund, including data entry into AMIS, and review of the annual portfolio reports.
- Makes presentations to and facilitates meetings with clients, represents Structured Finance and CapSol at meetings, presentations and events, as required.
- Maintains required job knowledge and skills and core professional competencies. Attends and participates in required industry events, educational programs and staff meetings.
- Performs other duties as assigned.
- Achievement of individual goals, approval and closing of the New Market Tax Credit projects according to the goals set forth for the Department.
- Understanding and learning the New Market Tax Credit Program, staying updated on the CDFI Fund’s guidance requirements and industry targets.
- High level of client satisfaction with respect to IFF products and services.
- Complete, accurate, and thoughtful analysis and communication of funding risks and their mitigants.
- Organization of meetings, reports and presentations in a comprehensive, persuasive and efficient manner.
- Collaboration across Capital Solutions, including with lenders, portfolio managers and closing/escrow officers.
- Contribution to a diverse, equitable and inclusive work environment, ability and willingness to communicate effectively with people of diverse backgrounds and experiences.
- Personal accountability that promotes ownership and engagement.
- High level satisfaction with the colleagues and external relationships.
Education: Bachelor’s Degree in Finance, Business Administration, Real Estate, Economics, or a related field preferred.
Experience: At least three years of related professional experience
Special Knowledge & Skills:
- Familiarity with banking, commercial real estate, community or economic development.
- Understanding of basic accounting and financial statement analysis concepts.
- Ability to assess complex financial transactions and express complicated concepts in clear and understandable components.
- Quantitative analysis and computer software skills, including Microsoft office, customer management databases and public industry sources.
- Strong written, oral communication and presentation skills.
- Detail orientation, accuracy and commitment to deadlines.
- Team player that can successfully work with all levels of internal and external partners and clients.
Unusual Physical Requirements: Occasional travel throughout the Midwest and nationally may be required. Occasional evening and weekend work may be required.
Application Process: Applicants please submit a cover letter, resume and salary requirements for the “Structured Finance Associate” position.
IFF values equity, diversity and inclusion as part of its mission to strengthen nonprofits and the communities they serve. IFF is an equal opportunity employer.
Department: Capital Solutions