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Careers

Career Opportunities at NCIF:

Vice President of Lending and NMTC

Portfolio Analyst/Senior Portfolio Analyst

Impact Analyst/Senior Analyst

Investment Analyst/Senior Investment Analyst

Credit Analyst / Senior Credit Analyst

Senior Accountant

National Community Investment Fund (NCIF), www.ncif.org, is an impact investor and national nonprofit Community Development Financial Institution (CDFI) formed in 1996 with a mission to increase access to responsible financial products and services in underserved communities. NCIF achieves its mission via 3 complementary business lines:

  1. Equity Investing in mission-oriented CDFIs, Minority Depository Institutions (MDIs), and Mission-Oriented Financial Institutions (MOFIs) as agents of change
  2. New Markets Tax Credits: Since 2003, NCIF has received $376 million in NMTC allocations that are being deployed into real estate, operating companies, health care facilities, schools, other nonprofit and for-profit impact-oriented businesses in partnership with local CDFI institutions
  3. Lending: NCIF makes loans in partnership with CDFIs, MDIs, and MOFIs to enhance the impact of projects that benefit underserved communities. 

NCIF is entering its next phase and planning for accelerated growth within the next 5 years. We are looking for capable, collaborative, mission driven individuals to create an exciting future for the organization.


Vice President of Lending and NMTC

Responsibilities:

  • Build and execute the strategy to grow the lending business, including the development of new lending programs and products to expand opportunities for growth. Loan types include commercial real estate loans, SBA/USDA loans (unguaranteed portion), affordable housing (LIHTC) etc.
  • Source, underwrite, presenting approvals, and close loans.
  • Deploy New Market Tax Credit (NMTC) allocations, as assigned.
  • Develop and maintain relationships with CDFI Banks, mission-oriented lenders, and other NCIF partners and stakeholders.
  • Write applications for CDFI Fund programs such as NMTC, FA, etc.
  • Work with senior management and peers to establish risk and return objectives.
  • Fostering a positive and collaborative team environment.
  • Formulate impact models and measure impact of the work being done by the line of business.
  • Communicate the impact of NCIF’s Lending business.
  • Along with other members of the NCIF team, assisting in private capital raising and writing applications for funding programs.

Skills and Experience:

  • Passion for community and economic development;
  • Minimum of 10+ years of experience in commercial banking with experience including commercial real estate lending and community development lending (experience in a CDFI bank or a nonbank CDFI will be a strong positive).
  • Experience in business development and relationship management.
  • Experience managing teams.
  • Strong credit, underwriting and portfolio management skills including cash flow and project analysis, underwriting, structuring, and developing lending policies and procedures.
  • Strong writing and presentation skills;
  • Knowledge of and experience with NMTC structures, public finance and other CDFI Fund programs (FA, Bond Guarantee, Capital Magnet Funds etc.) will be a strong plus.

Benefits:

We value our employees’ time and efforts. Our commitment to your success is enhanced by our competitive compensation and an extensive benefits package including paid time off, medical, dental and vision benefits.

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.

This job requires that all employees get the COVID Vaccine. As an EEOC employer NCIF provides reasonable accommodations, as required by law.

Please send cover letter and resume to administration@ncif.org

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Portfolio Analyst/Senior Portfolio Analyst

The Portfolio Analyst/Senior Portfolio Analyst will be part of the portfolio and compliance management department. This role will support asset management, compliance, and reporting in equity investing, lending, and NMTC.

Responsibilities:

Portfolio and Asset Management for the NCIF equity and loan portfolios to include:

  • Evaluate borrowers’ credit data and financial statements in collaboration with the Lending/NMTC department and review areas of risk and risk ratings.
  • Spread and perform financial statement reviews and analysis on NCIF portfolios, in collaboration with the lending and equity departments.
  • Monitor loan/investment terms including dividend and loan payments, loan covenants, financial statements, impact reporting, compliance and insurance certificates etc.
  • Compile and track financial and non-financial documents from borrower to adhere to loan covenants.
  • Work in conjunction with the accounting department to input, monitor and analyze loan information to the loan core system (Nortridge Loan System).
  • Special projects as determined by Head of Department.

Compliance and Reporting:

  • Maintain ticklers for internal and external reporting for the organization.
  • Create monthly, quarterly, semi-annual loan and investment reports.
  • Conduct file (physical/electronic) audits and provide status report to Head of Department.
  • Prepare and file CDFI Fund reports on AMIS (including ILR (Institution level Reports), TLR (Transaction Level Reports)), and other AMIS reporting under supervision of the Head of Department.
  • Prepare reports for investors and lenders on portfolios around financial and impact performance.

Qualifications:

  • Passion for community development and for improving the lives of individuals in underserved communities.
  • Bachelor’s degree (or equivalent work experience), preferably in business, accounting, or finance. Demonstrated understanding of credit and financial analysis and portfolio risk management, with formal credit training a plus.
  • 2- 7 years’ experience in accounting, finance, asset management, real estate, non-profit lending departments. Experience working with a CDFI in NMTC or lending compliance/portfolio management (including AMIS) will be a plus.
  • Experience in preparing loan portfolio, lender and investor reports.
  • Ability to provide compliance-related support and guidance to various business group.
  • Familiarity with construction lending practices and terminology.
  • Strong attention to detail and analytical skills. Proficiency in MS Office with strong expertise in MS Excel
  • Ability and willingness to work in an entrepreneurial organization positioned to grow.
  • Ability to work on multiple projects simultaneously. Demonstrated oral and written presentation skills.
  • Ability to work and communicate to varying levels of business stakeholders and technical teams.
  • Preferably a resident of Chicago, willing to relocate or work on a hybrid schedule.

Benefits:

We value our employees’ time and efforts. Our commitment to your success is enhanced by our competitive compensation and an extensive benefits package including paid time off, medical, dental and vision benefits.

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.

This job requires that all employees get the COVID Vaccine. As an EEOC employer NCIF provides reasonable accommodations, as required by law.

Please send cover letter and resume to administration@ncif.org

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Impact Analyst/Senior Analyst

The Impact Analyst will be an integral member of the NCIF Impact Department which demonstrates how NCIF’s investments have benefited low-income communities across the country. The Impact analyst will support the department head in creating an impact strategy and theory of change for the organization and will lead efforts to aggregate data sources for impact modeling and telling our impact story to stakeholders.

Responsibilities:

Impact Analysis and Strategy Support:

  • Build a comprehensive database that has financial and impact information – currently being held in different locations. This includes HMDA, Census, NMTC impact, bank branches etc. and is currently hosted in Excel and Amazon Web Services.
  • Utilize mapping tools to understand the demographics of banks and clients served in accordance with NCIF's investment priorities.
  • Create and refine an impact model and dashboards that guide the investing and lending decisions.
  • Collect and analyze the impact of NCIF Network of Banks and the CDFI industry, updating NCIF’s BankImpact tool.
  • Recommend enhancements to NCIF Social Performance Metrics, data collection and methodologies and assessment tools.
  • Collaborate to create publications that “Tell the Story” or the “Annual Impact Report” of NCIF and the mission-oriented banking sector (as appropriate) including creation of dashboards and impact stories.
  • Assist in CDFI program applications, NMTC applications and reporting, CDE certification, and CDFI Fund reporting as needed.
  • Complete special projects as determined by Head of Department.
  • Assist in the planning and execution of conference, regional meetings and marketing and communications plans.

Qualifications:

  • Passion for community development and for improving lives of underserved communities.
  • Bachelor’s degree (or comparable work experience) with 2-7 years’ experience in a public policy, economics or business.
  • Quantitatively inclined (advanced excel, database management, and/or data visualization tools), with advanced quantitative and qualitative research skills.
  • Strong project management skills with ability to think strategically about impact and impact investing.
  • Proven oral presentation and writing skills, with an ability to translate data into a compelling story for various audiences.
  • Familiarity with CDFI and minority banking or lending to /investing in CDFIs will be a strong advantage.
  • SQL (or other database), SPSS/STATA, GIS skills and geocoding strongly preferred. Familiarity with IMPLAN or other software to analyze impact is a plus.
  • Ability and willingness to work in an entrepreneurial organization positioned to grow.
  • Self-starter with good time management skills and comfort with ambiguity.
  • Takes initiative to continuously learn and share knowledge across the NCIF team
  • Ability to work and communicate to varying levels of business stakeholders and technical teams.
  • Preferably a resident of Chicago or willing to relocate. Willingness to work on a hybrid schedule.

Benefits:

We value our employees’ time and efforts. Our commitment to your success is enhanced by our competitive compensation and an extensive benefits package including paid time off, medical, dental and vision benefits.

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.

This job requires that all employees get the COVID Vaccine. As an EEOC employer NCIF provides reasonable accommodations, as required by law.

Please send cover letter and resume to administration@ncif.org

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Investment Analyst/Senior Investment Analyst

The Investment Analyst/Senior Investment Analyst is part of the Investing team that invests in mission-oriented financial institutions, which include but are not limited to CDFI and MDI depository institutions, other mission driven banks, non-bank CDFIs, loan funds, financial technology companies or other organizations with a mission focus (MOFIs).

Responsibilities:

Perform Underwriting of Investment Opportunities

  • Assist investment team in underwriting MOFIs (as defined above) for investment approval.
  • Assist in due diligence process including review of financial condition and performance, economic, market and industry research and analysis.
  • Create financial projections to perform financial statement, cash flow and risk and mitigant analysis.

Portfolio Management and Valuation

  • Ensure compliance of all transaction covenants and conditions.
  • Monitor financial/social performance of existing portfolio on a quarterly and annual basis.
  • Prepare valuation of existing portfolio and investment targets based on market methodologies.
  • Prepare and analyze social impact and performance of existing portfolio and investment targets.
  • Assist with the preparation of portfolio company annual reviews, valuation analysis.
  • As part of the investment department assist with post close monitoring/reporting, as required.

Other

  • Assist with weekly, quarterly market and industry reports to promote NCIF brand.
  • Monitor financial/social performance of existing portfolio on a quarterly and annual basis.
  • Assist with the preparation of grant applications and with any capital raising efforts as required.
  • Special projects as determined by Head of Department.

Qualifications:

  • Passion for community development and for improving the lives of individuals in underserved communities.
  • Bachelor’s degree (or comparable work experience), preferably in Business, Accounting or Finance.
  • 2 - 5 - 7 years of experience as an analyst with investment industry experience. Candidates with more relevant experience will be considered in a more senior capacity.
  • Experience in equity and impact investing, CDFI and nonprofit organizations and working with depository institutions would be a plus.
  • Strong attention to detail and analytical skills.
  • Proficiency in MS Office with strong expertise in MS Excel.
  • Ability and willingness to work in an entrepreneurial organization positioned to grow. Ability to work on multiple projects simultaneously. Demonstrated oral and written presentation skills.
  • Ability to work and communicate to varying levels of business stakeholders and technical teams.

Benefits:

We value our employees’ time and efforts. Our commitment to your success is enhanced by our competitive compensation and an extensive benefits package including paid time off, medical, dental and vision benefits.

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.

This job requires that all employees get the COVID Vaccine. As an EEOC employer NCIF provides reasonable accommodations, as required by law.

Please send cover letter and resume to administration@ncif.org

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Credit Analyst / Senior Credit Analyst

The commercial credit underwriter/senior underwriter/credit analyst, is part of the Lending and NMTC teams that originate/participate in loans to real estate and operating companies, nationally.

Responsibilities:

Perform Underwriting and Financial Analysis on NMTC and Loans, to include:

  • Gather data and perform due diligence on the borrowers/guarantor, including economic/industry assessments.
  • Spread financial statements and create operating projections to perform financial statement analysis, cash flow analysis, repayment analysis, risk, and mitigant assessment.
  • Analyze borrowers’ budgets and projections to assess and stress test debt service capacity.
  • Assist in credit write-ups and presentations at loan committee.
  • Assist in assessment of collateral.
  • Input data into loan management system, as needed.
  • Special projects as determined by Head of Department.

Asset Management

  • Annual reviews of borrowers/guarantors including evaluation of risk ratings.
  • Monitor projects during construction, including review of third-party construction reports, construction draws and budgets.
  • Ensure that all transactions comply with the terms of legal agreements and cash flows are consistent with financial projections. Ensure compliance of all covenants and conditions.
  • Support control/loan servicing departments with post close monitoring/reporting.

Qualifications:

  • Passion for community development and for improving the lives of individuals in underserved communities.
  • Bachelor’s degree (or comparable work experience), preferably in Business, Accounting or Finance.
  • 2 - 7 years of experience with credit underwriting/financial analysis. Candidates with more relevant experience will be considered in a more senior capacity.
  • Experience in banking, CDFI, NMTC or lending departments and nonprofit organizations would be a plus. Demonstrated understanding of credit and financial analysis, with formal credit training a plus.
  • Strong attention to detail and analytical skills. Proficiency in MS Office with strong expertise in MS Excel.
  • Ability and willingness to work in an entrepreneurial organization positioned to grow.
  • Ability to work on multiple projects simultaneously. Demonstrated oral and written presentation skills.
  • Ability to work and communicate to varying levels of business stakeholders and technical teams.
  • Preferably a resident of Chicago, willing to relocate or work on a hybrid schedule.

Benefits:

We value our employees’ time and efforts. Our commitment to your success is enhanced by our competitive compensation and an extensive benefits package including paid time off, medical, dental and vision benefits.

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.

This job requires that all employees get the COVID Vaccine. As an EEOC employer NCIF provides reasonable accommodations, as required by law.

Please send cover letter and resume to administration@ncif.org

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Senior Accountant

National Community Investment Fund is an impact investor and national nonprofit Community Development Financial Institution (CDFI) formed in 1996 with a mission to increase access to responsible financial products and services in underserved communities. Total assets under management at NCIF are around $208 million, including a balance sheet of $50 million and $158 million of New Markets Tax Credits (NMTC) allocations. In 2019, NCIF launched a $30 million Credit Strategies Fund to increase the lending line of business. Major lines of businesses include:

  • Equity Investing in Mission Oriented Banks: We support depository institutions with equity, debt and deposit investments. NCIF is the largest investor in CDFI banks with investments in 17 institutions.
  • Deployment of NMTC allocations: We have received $376 million in NMTC allocations and are deploying it into real estate, operating companies, health care facilities, schools, and other nonprofit and for-profit impact-oriented businesses.
  • Lending: With the launch of the Credit Strategies Fund, we make/purchase loans in partnership with CDFI Banks and other mission-oriented partners to finance socially impactful commercial real estate projects that benefit underserved communities.

Impact measurement is the foundation of NCIF’s work and supports all our business lines. We advise investors and other stakeholders on equity placements, debt, deposits and grants to meet their programmatic and geographic focus areas. NCIF pioneered the use of Social Performance Metrics and is developing a cloud-based core data platform to support data analytics.

Senior Accountant

The Senior Accountant will support the accounting team by managing the assigned loan portfolios, performing month-end close duties and reporting, assisting with preparation of year-end audits and tax filings, and completing other ad hoc accounting and finance assignments

Duties/Responsibilities:

• 40% - manage accounting related to assigned loan portfolios

  • Responsible for full cycle of assigned loan portfolios from funding, onboarding and maintaining loans in GL and loan tracking system (currently NLS), to subsequent drawdowns
  • Serve as primary contact between all stakeholders (internal and external) and coordinate with necessary parties to perform due diligence on behalf of NCIF as well as provide excellent customer service
  • Monitor bank accounts for receipts of monthly/quarterly principal and interest payments
  • Verify principal and interest payments received and paid are in accordance with loan agreements, financial models, and agreed upon interest rates (including floating interest rates) and follow up with stakeholders as needed
  • Transfer serviced loan portion of payments and statements to sub-participating banks
  • Record payments in GL and prepare reconciliations on monthly basis
  • Maintain reports and support for status of assigned loan portfolios
  • Prepare loan reports for management’s review on monthly basis
  • Manage and maintain accounting documentations for organized and well documented record keeping

40%- support month-end close

  • Maintain monthly loans receivable and payables file and ensure its accuracy
  • Other monthly close JEs and reconciliations as assigned.
  • Update monthly close workpapers as support and documentations
  • Prepare monthly financials for management’s review
  • Reconcile between GL and NLS loan tracker system and investigate any discrepancies by working with assistant controller and the portfolio management & compliance team
  • Research and make recommendations on systems and processes for serviced loan tracking and reporting

20% - other support

  • Prepare and provide support for audit and tax workpapers
  • Support CDEs financial reporting, audits, and tax filings
  • Assist accounting team with completion of the annual budget
  • Perform other ad hoc finance or accounting duties as assigned

Required Skills/Abilities

  • Solid understanding of GAAP accounting principles
  • Proven ability to calculate and manage accounting figures and financial records
  • Hands-on experience with spreadsheets and GL systems and preferably loan tracking system(s)
  • Proficient in Microsoft Excel and Word
  • Good verbal and written communication skills
  • Self-starter who is keen on constant process improvements
  • Integrity- requires being honest and ethical
  • Attention to Detail- careful about detail and thorough in completing work tasks
  • Dependability- being reliable, responsible, dependable with fulfilling obligations
  • Independence- requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done
  • Cooperation- pleasant with others on the job and display a good-natured, cooperative attitude

Education and Experience:

  • • BS degree in Finance, Accounting or Business Administration or equivalent work experience required
  • • 3 to 4 years of work experience, preferably in the banking or financial services industries
  • • Experience in CDFIs and New Market Tax Credits preferred.

 

Benefits:

We value our employees’ time and efforts. Our commitment to your success is enhanced by our competitive compensation and an extensive benefits package including paid time off, medical, dental and vision benefits.

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.

This job requires that all employees get the COVID Vaccine. As an EEOC employer NCIF provides reasonable accommodations, as required by law.

Please send cover letter and resume to administration@ncif.org

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