Job Title: Analyst/Senior Analyst - Credit

Reports to: Vice President, Lending


National Community Investment Fund (NCIF; www.ncif.org) is a non-profit fund set up in 1996 to increase access to responsible financial products and services in underserved communities.  Total assets under management at NCIF are around $200 million, including $178 million of NMTC allocations outstanding.   It has recently received an additional $65 million in NMTC allocation awards.

NCIF achieves its mission via three complementary business lines:

  1. Tier 1 and Tier 2 Capital Investing in Mission Oriented Banks: We support institutions with equity and deposit investments.  NCIF has invested in the private capital of 58 financial institutions since inception, and currently has investments in 18 banks, all of which are CDFI/MDI banks - making NCIF the largest investor in the mission-oriented banking industry. 
  1. New Markets Tax Credits and Lending:  We channel funds into low-income communities using the New Markets Tax Credit (NMTC) program to finance small businesses and real estate development. 
  1. Research and Metrics:  NCIF pioneered the use of Social Performance Metrics (see www.bankimpact.org and www.BankImpactmaps.org) for measuring the impact and “telling the story” of mission-oriented banks, and publishes research on the industry and its impact.  Research forms a foundation and a competitive advantage for NCIF’s other lines of business.  NCIF runs an informal network of investee and other banks in the interest of strengthening the mission-oriented banking industry and supporting the flow of capital into low- and moderate-income communities. We enable peer-networking and help strengthen the sector via our Development Banking Conference.

NCIF is in the process of raising a Credit Strategies Fund that will make loans to high impact projects nationally along with our network of banks.


NCIF is looking for a Credit Analyst to join an entrepreneurial team, providing underwriting support and financial analysis to senior lenders on New Market Tax Credit transactions and direct loans. Knowledge of financial institution underwriting, including in loan participations, will be considered a plus.   


Specific responsibilities will include:

Financial Analysis and Underwriting  

  1. Spreading financial statements and calculating/assessing financial ratios;
  2. Preparing summaries of financial analyses and opinions on risk assessment , and drafting or contributing to written credit presentations;
  3. Analyzing NMTC deals from a financial and impact perspective, performing financial statement analysis, cash flow analysis, repayment analysis, collateral coverage, and analysis of risks and mitigants;
  4. Assisting in impact and financial data gathering and due diligence at inception and on an ongoing basis, including economic and industry assessments, document collection, and background research on projects and borrowers; and,
  5. Assisting in NMTC deal origination and closing, as appropriate.


Other tasks that may be assigned on an as needed basis.

  1. Gathering, organizing, and analyzing data related to new investment opportunities for NCIF in new CDFIs, small business lending and possibly fintech companies; supporting identification of and outreach in connection with new investment and lending opportunities;
  2. Assisting in the planning and execution of conference, regional meetings and marketing and communications plans;
  3. Assisting in CDFI program applications, NMTC applications and reporting, CDE certification, and CDFI Fund reporting as needed;
  4. Assisting in portfolio management to ensure that all new transactions comply  with NCIF systems, policies and reporting requirements; and
  5. Undertake additional duties and special projects as assigned by the CEO.



  1. Passion for community development and for improving lives in underserved communities;
  2. Undergraduate degree in Business, Economics, Finance or Accounting; graduate students may also apply; progress towards CFA designation would be considered a plus;
  3. At least 2-3 years of work experience in credit analysis in lending associated with commercial real estate, commercial lending, NMTC and/or community development banking;
  4. Detail-oriented with strong analytical skills;
  5. Strong writing skills, with an ability to interpret financial information and weave it into a compelling story for various audiences;
  6. Ability to work independently and cooperatively in a small entrepreneurial team in a high growth mode; and,
  7. Resident in Chicago or willing to relocate.


To apply, please send a resume, cover letter and writing sample to Lara Pawlak at lpawlak@ncif.org by November 17. Resumes without a cover letter and writing sample will not be considered. 


NCIF is an equal opportunity employer and provides equal treatment and opportunity to all persons without regard to race, color, religion, national origin, sex, age, disability, veteran status or sexual orientation except where such distinction is required by law.