Details: Bonus eligible
108 Church Street
Are you looking to grow your career in lending? Are you passionate about community-based economic development? Do you want to know that your work has a positive impact on New Jersey’s underserved communities? If so, read on
New Jersey Community Capital (NJCC) is a nonprofit community development financial institution that provides innovative financing, including New Markets Tax Credits, and technical assistance to foster the creation of quality homes, educational facilities, and employment opportunities in underserved communities of New Jersey. Our Portfolio Management and Compliance (PM&C) team is currently seeking an individual to join the department to help us in our work.
What you’ll do:
The Portfolio Manager oversees and coordinates the ongoing reporting and compliance activities of NJCC’s NMTC investments and its Participant Loan Portfolio. You will take responsibility for making sure these aspects of our operations run smoothly, effectively, and in accordance with current rules and regulations, as well as with NJCC policies and procedures. You will report to the Director of PM&C and will work closely with him and members of the PM&C team. You will have the opportunity to gain experience in important aspects of community development lending and operations. You will:
· Monitor NJCC’s post-closing servicing, accounting and compliance for its NMTC investments and Participant Loan Portfolio.
- Review final loan documentation to determine the monitoring and compliance required by each loan.
- Collect / prepare compliance and monitoring reports required by the NMTC program and Participant Loan Portfolio.
· Monitor performance of the Participant Loan Portfolio, including monthly payments from borrowers and remittances to loan participants.
· Prepare quarterly and annual reports on NTMC and Participant Loan Portfolio loans, including updated financial analyses and risk assessments.
· Interact with borrowers, investors, and participant lenders about loan performance, projected and actual outcomes, and project information.
· Assist NJCC staff in preparing and submitting compliance reports to the U.S. Treasury Department’s CDFI Fund on NMTC activities.
The skills you'll need
We’re looking for people who are motivated and driven to develop their career. To be successful in this role, you’ll:
· Want to work in a service oriented, small office work environment, and possess flexibility and an enthusiastic work-ethic, and be inspired by NJCC’s mission to strengthen communities.
· Have a working knowledge of commercial loans, financial analysis, loan documentation requirements, and post-closing requirements. You’ll get extra points for having a familiarity with the NMTC program!
· Have demonstrated the ability to balance multiple tasks and meet deadlines.
· Be comfortable and proficient at working both independently and collaboratively.
- Have strong written and verbal communication skills.
- Have good networking, relationship management, and customer skills.
- Be able to demonstrate proficiency with MS Office Excel, Word, and related product.
- Have some experience with data management and/or workflow tracking.
· Have a Bachelor’s degree, with work or academic experience in operations, accounting, real estate, and/or community development.
What else you'll need to know
At our core, New Jersey Community Capital is a financial organization with a mission to create thriving communities. We do this through strategic investments and knowledge. Fulfilling the needs and improving the quality of life of thousands of individuals and families would not be possible without our talented and diverse staff, and motivating environment.
We are all about taking a comprehensive approach to transforming New Jersey’s underserved communities. NJCC specializes in providing flexible, hands-on financing to nonprofits and other mission-driven entities. We empower them to grow and thrive. We have an array of services for our borrowers, including financial training and portfolio management.
Each year, NJCC provides millions of dollars in capital and substantial technical assistance to support the revitalization of communities across the state. Our efforts provide quality housing, early care, education, and employment to thousands of low-income people. NJCC is a national leader in developing creative strategies to address the distress created by the foreclosure crisis. We have done this with large-scale programs to redevelop vacant homes, modify mortgages, and infuse capital into community-level efforts to stabilize neighborhoods.
NJCC offers a competitive nonprofit salary based on experience and skills, as well as an attractive benefits package including health, dental, disability and life insurance; 401(k) savings plan after one year’s service; flexible spending accounts (medical, dependent care, and transportation); and 23 paid leave days (includes sick, personal, and vacation) plus 12 paid holidays. NJCC’s office is located at 108 Church St. in New Brunswick, NJ, only two blocks from the train station.
NJCC embraces diversity and equal opportunity in a serious way. We are dedicated to forming a team that represents a variety of backgrounds, perspectives, and skills. The more inclusive we are, the better our work will be. Check us out at www. newjerseycommunitycapital.org
If this exciting opportunity appeals to you, please email a thoughtful cover letter, your salary requirements, and resume to email@example.com. Please include “Portfolio Manager (Idealist) – Your Name” in the email’s subject line.
23 PTO days
12 Paid Holidays
Level of Language Proficiency
English, Spanish a plus.
Minimum Education Required