Manager, Markets Tax Credits

Position: Manager, New Markets Tax Credits
THE COMPANY:

Low Income Investment Fund (LIIF) is a national community development financial institution (CDFI), headquartered in San Francisco with offices in New York City, Atlanta, Los Angeles, and Washington, D.C., that invests in communities of opportunity, equity and well-being. As a CDFI, LIIF supports projects that have high social value but lack access to traditional financial institutions. Since 1984, LIIF has deployed more than $3.1 billion to serve more than two million people in communities across the country from its five offices.

An S&P-rated organization, LIIF funds healthy communities by providing innovative capital solutions. More on LIIF can be found .

POSITION SUMMARY:

The Manager, New Markets Tax Credits (NMTC), is responsible for the overall asset management of a portfolio of transactions that use NMTCs with or without LIIF loans to support the development of charter school, community health care, childcare, mixed-use and other community facilities. In this function, the Manager, NMTC with work closely with the Deputy Director of New Markets Tax Credits, the Director of Asset Management and Chief Credit Officer.

Working closely with the Deputy Director, NMTC, this role will also support LIIF's organizational-level program and compliance activities for NMTCs, which will require collaboration with various departments within LIIF, including Lending, Finance and Legal as well as external parties outside of LIIF such as NMTC Investors, Borrowers, and other Allocate es.

As part of the Lending and New Markets Tax Credit (NMTC) teams, the Manager, NMTC ultimately works to support the achievement of regional and overall Lending and NMTC work plan goals and supports the operational effectiveness of LIIF's NMTC activities.

REPORTING RELATIONSHIPS:

The Manager, NMTC reports to the Deputy Director, NMTCs, with a "dotted line" reporting relationship to the Director of Asset Management.

MAJOR DUTIES AND RESPONSIBILITIES NMTC Portfolio Management:

* Loan Monitoring - The Manager, NMTC is responsible for the ongoing asset management of a portfolio of transactions that utilize LIIF's NMTC product, including construction loan monitoring and draw approvals. The position includes developing a relationship with each borrower and conducting regular loan monitoring reviews. The Manager, NMTC will prepare credit reviews for each loan on a regular schedule to review overall asset and credit quality, including performance against original underwriting expectations and ongoing compliance with NMTC program requirements.

Such reviews evaluate information including borrower/sponsor financial condition and operating performance, rent rolls, project status reports, covenant tracking and compliance, and overall analysis of the credit condition of the borrower/sponsor, as informed by a complete understanding of LIIF's relationship with and exposure to the sponsor developed in collaboration with the Loan Officer and other LIIF staff. The Manager, NMTC is responsible for risk analysis and making risk rating recommendations to senior management by integrating and analyzing these data and making judgments on their significance and quality.

* Construction Disbursement Management - The Manager, NMTC will review and approve the construction draw packages prepared by Loan Administration. This review includes review of disbursement trackers, AIA documentation, construction monitoring's site observation reports, and title reports. The Manager, NMTC ensures LIIF construction funds are disbursed in compliance with loan documentation, loan budget, lien law, and designated timelines. The Manager, NMTC monitors the construction budget and timeline, and takes proactive steps to support on time and on budget project delivery, which may include regular calls with construction teams, management of budget line-item reallocation, or ensuring borrower secures additional funding for project overages.

* Site Visits - The Manager, NMTC conducts regular site visits across a national portfolio and prepares site visit reports for loans in their portfolio in accordance with LIIF's lending procedures.

* Loan Extensions and Modifications - The Manager, NMTC will be responsible for any required loan extensions and modifications in their portfolio. For loans where the borrower is seeking an extension or modification, the Manager, NMTC will work closely with the borrower to provide an assessment of the necessity, feasibility and creditworthiness of such extension or modification, and communicate same with the Deputy Director of NMTCs, Director of Asset Management and the Chief Credit Officer.

The Manager, NMTC will conduct an analysis of the credit and then make and support a recommendation as to the extension or modification terms and conditions, if an extension or modification is deemed appropriate.

* Non-performing Loans
-The Manager, NMTC will work under the direction of the Chief Credit Officer, Deputy Director of NMTC and Director of Asset Management and in…