About the Job
Position Reports to: Controller and Vice President, Finance
Department: Finance and Administration
The Finance Associate performs a variety of duties related to NFF’s New Markets Tax Credit (NMTC) Program which include loan servicing, financial review, financial reporting and compliance-related responsibilities (80%) and other accounting and finance duties related to NFF’s Finance department (20%). The position is part of the NMTC team, which provides nonprofit organizations tax credits to attract lower cost capital for their facilities projects. The team is committed to ensuring communities of color and their leaders have access to and control of the capital they need to meet their goals. We do this by partnering with organizations to ensure our financing products meet their needs now and as they evolve over time. As a steward of public resources, the team is responsible for managing NFF’s NMTC allocations in accordance with federal law and other legal agreements. The Finance Associate will play a critical role leading the finance-related aspects of this work.
This position is based in NFF’s New York office. Though we are currently working remotely and will not require attendance in any office until summer 2021 at the earliest.
Primary Duties and Responsibilities:
The Finance Associate will be a member of a Finance and Administration Team and work closely with the NMTC Team.
- Support cash management and loan servicing activities, including preparation and distribution of loan invoices, monitoring borrower loan payment activity and receipt of payments.
- Monitor payments to investors and ensure compliance with legal agreements and tax credit regulations.
- Prepare and process payments (ACH/Wire Transfer requests and check requests) for federal, state and local tax payments, accounting fees and third-party fees.
- Manage filings for state LLC status maintenance (filing fees/taxes) and corporate agent representation.
- Maintain bank accounts for all NMTC entities; prepare monthly bank reconciliation reports for NMTC entities and distribute them to accountants each month.
- Support preparation of quarterly and annual audited financial statements for NMTC entities by providing auditors and accountants with documentation.
- Liaise with accountants and auditors to ensure smooth communication and adherence to NMTC compliance.
- Generate and maintain accurate portfolio reports for the NMTC portfolio.
- Oversee annual state registration filings for NFF.
- Other special tasks/projects assigned by the Controller.
- The above responsibilities are subject to change depending on the needs of the NMTC and finance department.
- You have a Bachelor’s degree in accounting or finance with a minor in accounting or equivalent experience required
- You have a minimum of two years’ experience in banking or CDFI lending, preferably in NMTC field
- You understand the power of building relationships with different stakeholders and possess a strong customer service-based approach to your work
- You possess excellent verbal and written communication skills and interpersonal skills
- You are highly organized and possess excellent project management skills
- You are flexible, open to feedback, and committed to continuous learning
- You are proficient in Microsoft Office applications (particularly Excel, Word and PowerPoint), Salesforce, and Blackbaud Financial Edge (preferred but not required)
- You embody NFF’s mission, core values and commitment to equity
Apply directly at https://nonprofitfinancefund.applytojob.com/apply/Hakm5sNxwj
Nonprofit Finance Fund
The COVID crisis and the uprising for racial justice have shone national light on both the urgent work required to build a more just and vibrant society for all Americans and the potential for positive action when our communities mobilize. In most cases, these efforts are spearheaded by nonprofits, community organizations, and their heroic staff who deliver essential services like affordable housing, social justice advocacy, health, youth development, and the arts. Yet these nonprofits and the communities they support operate within a flawed, inequitable funding system that controls their access to resources, impeding their ability to make a difference.
Nonprofit Finance Fund (NFF) is setting out to change that. We know that nonprofit leaders have power when they have access to capital and financial knowledge. Our strategy focuses on helping to shift that power by changing funding and financing practices so more money flows equitably and with less restriction to community-centered organizations led by and serving people of color, so they can be the drivers of their own change.
Read about our commitment to Diversity, Equity, and Inclusion here.