As part of the GIIN’s mission to accelerate the scale and effectiveness of impact investing, we publish job openings from members of the GIIN Investors’ Council and other impact investing leaders.

Manager, New Markets Tax Credits

at Nonprofit Finance Fund in New York

About the Job

Position Summary:

The Financial Services team is seeking to hire a Manager, New Markets Tax Credits. The Manager performs the following job responsibilities for NFF’s New Markets Tax Credit (NMTC) program, either in a direct or oversight capacity: NMTC compliance and reporting, loan servicing, and portfolio management. The Manager also provides support for investor relations management, applications for NMTC allocation authority and closing new investments. Primary responsibilities include asset management for closed investments, reporting to investors and regulatory agencies, review, and interpretation of deal documents, review of certain calculations and ratios, and maintenance of compliance files. The Manager must have a thorough understanding of the NMTC program regulations and requirements, be able to effectively communicate with staff, investors, borrowers, external auditors and regulatory agencies related to these areas, and be able to manage, train and oversee the work of any junior staff.

This position will be based in NFF’s New York, NY office. This position will report to the Director, NMTC.

Primary Duties and Responsibilities:

Compliance Management

  • Manage reporting to regulatory agencies, including the timely registration of investment activities, annual institution and transaction level reporting, and response to related notices.
  • Review and summarize relevant partnership agreements, loan agreements and related documents for compliance and reporting requirements.
  • Oversee the management of the NMTC advisory board including preparation of meeting agendas and minutes.
  • Ensure that NFF and all subsidiary NMTC entities maintain their ongoing status as community development entities.
  • Maintain files, spreadsheets, and tools necessary to ensure NMTC compliance.

Loan Servicing, Portfolio Management, and Accounting

  • Coordinate the transition of investments from closing to ongoing monitoring.
  • Review and approve loan serving including loan invoices and investor distributions to ensure compliance with partnership agreements and tax credit regulations and invoices for and receipt of asset management fees.
  • Oversee collection and analysis of borrower impact reports, financial statements, and compliance certificates. Perform other loan monitoring responsibilities including completion of site visits, financial analysis, and prepare risk ratings in order to monitor project condition and borrower financial health. Analyze overall portfolio quality and risk assessment.
  • Manage NMTC unwinds.
  • Support the Finance team’s oversight of timely and accurate preparation of financial statements, audits and tax returns by the accountant and auditor.

Communication and Reporting

  • Interact with borrowers, project representatives, and community stakeholders to collect and manage required reports and community and economic impact data; refine measurement and tracking of impact data.
  • Manage preparation of investor reports including compliance certificates and substantially all testing.
  • Assist with the preparation of reports to management, the board of directors and government agencies.
  • Maintain overall portfolio statistics and consistency of data points for internal and external reporting.
  • Maintain a culture of quality customer service at all points of contact with NFF clients, Financial Services team, regional and site management and other staff, board and committee members, lending partners and professionals.

General NMTC Responsibilities

  • Maintain a thorough and up-to-date understanding of the tax and compliance requirements related to NMTC and monitor developments in the industry related to tax credit compliance.
  • Support applications for NMTC allocation authority, including drafting or commenting on narrative sections, supporting the development of a transaction pipeline, and obtaining necessary impact data.
  • Identify process and system improvements as they relate to all aspects of compliance and reporting.
  • Develop staff training materials and programs.

Essential Requirements for Education and/or Experience:

  • Bachelor’s degree or equivalent experience required; Master’s preferred in business, finance, public administration, or related field.
  • Minimum 3-5 years’ experience, ideally in accounting, asset management, finance or lending, including at least 2 years of NMTC experience.
  • Demonstrated knowledge of the New Markets Tax Credit program and Community Development Finance Institutions (CDFIs).
  • Experience reading legal agreements and documents.
  • Familiarity with nonprofit financial statements.
  • Strong time management and organizational skills, attention to detail and ability to coordinate complex activities and prioritize conflicting demands and deadlines.
  • Proficiency with Microsoft Office applications and other databases.


  • Must be highly motivated, be able to work independently and possess strong written and oral communication skills.
  • Knowledge of partnership accounting, real estate terminology and related concepts.
  • Knowledge of Salesforce.

To apply

Apply directly here:

Nonprofit Finance Fund

What We Do:
Nonprofit Finance Fund (NFF) works toward a more just and vibrant society through:

Financing that invests in missions. Our customized financing strengthens hardworking nonprofits and social enterprises.

Consulting that empowers leaders. Our experts equip you to make financial decisions that best serve your mission.

Partnering on big problems. Service providers, funders, and investors turn to us for new ways to collaboratively support stronger, fairer communities.

Learning that helps illuminate paths to solving complex social issues. Sharing experiences and expertise – from ideas to anecdotes to cutting-edge data and analysis – makes it easier.

Nonprofit Finance Fund® (NFF®) advances missions and social progress in underserved communities through financing, consulting, partnerships, and knowledge-sharing. A leading Community Development Financial Institution (CDFI), NFF currently manages over $329 million. Since 1980, we have provided $871 million in financing and access to additional capital in support of over $2.9 billion in projects for thousands of organizations nationwide.