Job Description

Description

Job Title: NMTC Compliance and Asset Management Associate

Position Type/Department: Tax Credit Consulting

Reports To: Vice President

Advantage Capital Tax Credit Consulting is seeking a highly motivated individual to join our team in one of our nationwide offices. The Compliance and Asset Management Associate will support our clients’ NMTC programs through maintaining program compliance and management of a portfolio of NMTC investments. This position involves a working knowledge of lending, financial analysis, basic financial statements and covenant testing.

The Associate will have a comprehensive understanding of the New Market Tax Credit Program. This role will involve interaction with QALICBs, Investors, other CDEs, as well as our external clients. Candidates are expected to have outstanding written and verbal communication skills and a strong record of leadership accomplishments.

About Advantage Capital:

Founded in 1992, Advantage Capital is a national impact investment firm, providing innovative financing solutions that drive community impact as well as financial returns. The firm has invested billions in underserved businesses, affordable housing, renewable energy and more, creating thousands of permanent, quality jobs that pay above average annual American income, or 1.7 times the Living Wage in their communities, overwhelmingly in neighborhoods experiencing high poverty rates and low family incomes. The firm also draws on its 30-year history to offer advisory services to investors, policymakers and other program participants seeking economic and community development outcomes.

The Tax Credit Consulting (TCC) business line provides advisory services for participants in economic development programs familiar to Advantage, particularly the New Markets Tax Credit program, helping those businesses and investors accomplish their programmatic goals around permanent job growth through small business finance. To date TCC has helped our partners invest nearly $1 Billion in capital in qualifying businesses, creating nearly 6,000 permanent, quality jobs as well as community and commercial services for low income persons through those investments to date.

Key Responsibilities:

Asset Management Support

• Collection of QALICB financial statements and compliance reporting as required in loan closing documents
• Analyze QALICB financial statements and reports to detect risk of loan default and risk of NMTC program compliance default
• Assist with review of post-closing disbursements of QLICI funds
• Monitor and track the portfolio’s loan performance and compliance with loan agreements and program requirements, and prepare reports for management review
• Collect, review and analyze community impact reporting, including validation and presentation to internal and external stakeholders
• Interacting and building relationships with partners, banks, and investors

Compliance Support

• Monitor CDE status including board LIC representation compliance
• Prepare CDFI Fund AMIS reporting including QEI Tracking, ILR, TLR, and QEI Closeout Reports
• Monitor CDE’s compliance with Allocation Agreement and NMTC application
• Analyze CDE’s compliance with IRS regulations including substantially all testing and redemption testing
• Prepare and submit required compliance reporting to investors, partners, state agencies and lenders

Skills/Qualifications:

• Bachelor’s degree in finance, economics, accounting or equivalent work experience
• Two to four years of related experience (lending, compliance, financial structures, finance, accounting); direct experience with NMTCs is required
• Proactive in identifying next steps, intellectually curious, ability to focus on both details and the big picture
• Comfort with reviewing financial statements; comfort reading legal documents a plus
• Strong mathematical and analytical skills, attention to detail and accuracy in work product are critical
• Self-starter with ability to problem solve
• Strong computer skills with basic formula proficiency in Excel
• Strong written and verbal communication skills
• This position requires strong time management skills and ability to multi-task, and flexibility to prioritize new demands as they arise

Compensation:

This position includes a competitive comp and benefits package.

Location:

Position is available in specific Advantage Capital office locations (St. Louis, MO, New Orleans, LA or Greenville, SC ). TCC would consider remote work for someone with sufficient NMTC experience.

Join our team of impact-driven professionals dedicated to making a difference in underserved communities. At Advantage Capital, you will have the opportunity to shape the future of our programs and make a lasting impact.

Who We Are

As an impact investor, Advantage’s mission is to bring businesses, technologies and jobs to communities that have historically lacked access to investment capital, while also generating competitive returns for our investors proving that conscious capitalism is possible. Since 1992, Advantage Capital has invested more than $3.5 billion in over 800 companies, spanning a diverse array of industry sectors. We’ve built a sterling track record of public-private partnerships with state and federal governments and private institutional investors, directly creating tens of thousands of jobs in underserved communities and industries.