Manager, New Markets Tax Credits (NMTC)

Department: Lending

Reports To: Chief Lending and Investment Officer

About the Position:

As the Manager, New Markets Tax Credits (NMTC), you will lead our efforts in leveraging NMTCs to finance charter school facilities in support of Civic’s national charter school lending platforms. This role will be responsible for all aspects of our NMTC program.  This includes pipeline development, evaluating and underwriting transactions, leading loan closings, working closely with our NMTC consultants on the preparation of our annual NMTC application to the CDFI Fund; managing the administration and compliance of closed projects, and cultivating strategic partnerships and fostering community relationships. The Manager, NMTC will be a key member of the lending team, providing insight on strategic projects, process improvement efforts, and/or other corporate initiatives to be determined based on organizational needs.  As needed, depending upon NMTC workflow, the Manager may also flex to support the underwriting initiatives of the Lending Team.        This position will report to the Chief Lending and Investment Officer, with a dotted line reporting relationship to the Vice President of Lending.

Responsibilities:

• Source, evaluate, underwrite and originate NMTC loans for the construction of charter school facilities.
• Identify and evaluate potential NMTC investment opportunities, conducting thorough due diligence and financial analysis.
• Manage all aspects of the NMTC application process, including compliance with regulatory requirements and reporting obligations.
• Lead the loan closing process, managing interactions between investors, borrowers and other key stakeholders.
• Cultivate and maintain relationships with investors, community partners, and other stakeholders to support NMTC program goals.
• Provide guidance to cross-functional teams involved in NMTC projects.
• Develop and implement the NMTC strategy ensuring alignment with organizational goals and objectives.
• Prepare and submit the annual NMTC Application for tax credit allocation issued by the CDFI Fund.
• Stay up to date on NMTC program regulations, market trends, and best practices to incorporate insights into program strategy and execution.
• Conduct regular site visits and prepare site visit reports for loans in their portfolio in accordance with Civic’s lending procedures.
• Manage investments through due diligence, credit underwriting, credit/investment committee approval, and closing processes.
• Provide additional capacity to business development and loan origination efforts.
• Develop and maintain relationships with borrowers and partners to support direct lending initiatives.

Qualifications:

• Bachelor’s degree required. MBA, similar advanced degree or professional certification a plus.
• 4+ years of relevant experience in community development finance or project finance, with a focus on NMTCs, credit underwriting and financial analysis.
• The following employment sectors would provide strong foundations for this work: community development lending/finance organizations; charter schools and/or charter school service providers; affordable housing or other real estate developers; commercial or investment banks; private equity firms; and/or public finance professionals.
• Strong understanding of NMTC program regulations, compliance requirements and transaction structuring.
• Proven track record of successfully closing NMTC transactions and managing complex real estate projects from inception to completion.
• Ability to proactively network and establish effective working relationships with business leaders, internal and external stakeholders.
• Proficient in handling loan documents and loan closings.
• Advanced quantitative expertise including advanced Excel modeling skills.
• Advanced project management skills, including experience managing and prioritizing multiple projects and portfolios with similar or competing deadlines.
• Excellent writing and presentation skills. Advanced in Excel and PowerPoint.
• A passion for our mission to support high-quality education options and financial access for under-resourced communities.
• A deep commitment to racial equity in practice and a drive to create equitable solutions with internal and external stakeholders.

About Civic Builders:

Civic is one of the nation's leading nonprofit lenders and developers, bringing high-quality education to students through the development of public charter schools. Since 2002, we have supported the growth of 83 schools nationwide, educating more than 42,500 students annually with a 90% graduation rate. We offer school facility development services, access to low-cost capital, and strategic advisory services to public charter schools. Our portfolio represents $1.5 billion invested into under-resourced communities to ensure access to safe, positive, and student-centered learning environments.

Work Environment, Compensation and Benefits:

• Civic is located in New York City and has a hybrid, collaborative work environment. Local team members, and the Manager, NMTC, work at least two days in our NYC office with telework the rest of the week.
• Civic Builders offers a competitive salary commensurate with relevant work experience, and may be adjusted for cost of living based on location. The salary range for this role is $115,000 - $130,000 Actual salaries may be based on several factors including, but not limited to, a candidate's skill set, experience, education, work location and other qualifications.
• We want you to be well and thrive. Our excellent benefits package includes medical, dental, and vision coverage, up to 4% employer match 401(k), and generous PTO. 
• Additional benefits and perks include flexible spending accounts (FSA) and health savings accounts (HSA), short-term & long-term disability insurances, group term life insurance, commuter benefits program, 12 weeks paid parental/family leave, cell phone plan reimbursement and equipment replacement, professional development reimbursement, home office setup, and social and educational outings.

Commitment to Diversity, Equity, Inclusion and Racial Justice:

Civic Builders believes that diversity, in all its forms, enriches society and our organization. Because we support students in the highest-need neighborhoods, we have a particular charge to understand our schools and their communities. When our staff, board, and partners reflect, value and embrace the voices and perspectives of those most impacted by what we do, we have a deeper understanding and connection to their needs and more effectively achieve our aspiration of improving lives, revitalizing communities, and helping children receive the education they deserve.

We are an Equal Opportunity Employer:

Civic Builders is an equal opportunity employer and welcomes candidates from diverse backgrounds and perspectives. Civic Builders provides employees with a safe and welcoming environment free of discrimination and harassment.

As an equal opportunity employer, we prohibit any unlawful discrimination against a job applicant on the basis of their race, color, religion, gender, gender identity, gender expression, sexual orientation, national origin, family or parental status, disability, age, veteran status, or any other status protected by the laws or regulations in the locations where we operate.

• Civic is located in New York City and has a hybrid, collaborative work environment. Local team members, and the Manager, NMTC, work at least two days in our NYC office with telework the rest of the week.
• Civic Builders offers a competitive salary commensurate with relevant work experience, and may be adjusted for cost of living based on location. The salary range for this role is $115,000 - $130,000 Actual salaries may be based on several factors including, but not limited to, a candidate's skill set, experience, education, work location and other qualifications.
• We want you to be well and thrive. Our excellent benefits package includes medical, dental, and vision coverage, up to 4% employer match 401(k), and generous PTO. 
• Additional benefits and perks include flexible spending accounts (FSA) and health savings accounts (HSA), short-term & long-term disability insurances, group term life insurance, commuter benefits program, 12 weeks paid parental/family leave, cell phone plan reimbursement and equipment replacement, professional development reimbursement, home office setup, and social and educational outings.

We encourage you to apply even if your experience is not a 100% match with the job description; we will consider people from a variety of backgrounds and career experiences. Applications will be reviewed on a rolling basis. Apply here: https://civicbuilders.applytojob.com/apply/vmiYmbGy5S/Manager-New-Markets-Tax-Credits-NMTC?source=Idealist