Small businesses uplift communities and anchor local economies, while creating opportunities for themselves, their families, their employees, and our neighborhoods. Yet entrepreneurs who are people of color, women, and immigrants often struggle to secure capital and resources, as they are systematically shut out from traditional financing.
Accion Opportunity Fund is an unparalleled financial support system that provides these small business owners with access to capital, networks, and coaching. We work to build inclusive and accessible options for these determined business owners. For over 25 years we have served a client base that is nearly 90% women, people of color, or immigrants.
In addition to providing resources and loans to small businesses, we also conduct original research, advocate for policy changes, and finance community facility construction projects, such as community health centers, homeless services facilities and youth recreational facilities in low-income neighborhoods through our New Markets Tax Credit program.
Together, we are building a diverse, vibrant community where opportunity, knowledge, and access to capital are within reach.
For more information about us, visit https://aofund.org/
Reporting to the Director, New Markets Tax Credits, the Manager, New Markets Tax Credits is responsible for identifying and deploying New Markets Tax Credit financing to non-profits who will utilize the funding to construct or renovate community facilities (health centers, Boys and Girls Clubs, homeless services facilities, for example). The position will also be responsible for overseeing asset management and compliance of a portfolio of New Markets Tax Credits investments and loans, work closely with the NMTC Finance Manager and supervise the Program Assistant, who will assist in monitoring borrower compliance and reporting and in the social impact reporting process.
Since 2004, our NMTC program has deployed $388 million to 32 community facility projects across the western United States. These community facilities provide critically needed services such as health care, education, homeless services, and providing healthy food to over 450,000 low-income individuals annually and have created thousands of quality jobs in economically distressed communities.
Duties include but are not limited to: developing the project pipeline, lead and assist on closing of NMTC financing transactions, evaluating borrower due diligence and compliance reporting, reviewing and analyzing financial reports, overseeing the program’s social impact reporting, and assisting in the preparation of the program’s annual application for tax credit allocation.
Key Responsibilities/ Accountabilities
Lending | 30%
- Take lead and assist on NMTC loan closings including sourcing, evaluation, performing corporate, real estate and financial due diligence, and managing negotiations between multiple transaction parties (borrower, attorneys, accounting firms, consultants, other lenders).
- Provide analysis of borrower financial statements, project financial model, and real estate and NMTC tax structure.
- Review draft legal documents and structuring of loan terms to minimize risk and ensure compliance with NMTC and investor requirements.
- Cultivate relationships with investors, NMTC consultants, and community-based organizations to build project pipeline.
- Position will involve travel at least once or twice a month, assuming that it can be done safely given COVID prevalence.
Asset Management | 55%
- Ensure borrower compliance with loan covenants, including borrower financial and compliance reporting.
- Review and evaluate financial reports from borrowers to proactively identify potential areas of vulnerability and risks; develop and implement measures to address potential non-compliance and workout situations.
- Supervise Program Assistant who will assist with monitoring borrower loan covenants and compliance with reporting requirements.
- Review and approve of loan construction draw requests. Oversee construction consultant, who will assist in on-site and desk reviews.
- Manage the community impact reporting process, which includes collection, analysis, and reporting of all borrower and tenant community impact data. Assemble and submit reports to the U.S. Treasury’s C.D.F.I. Fund.
Application | 10%
- Assist in the preparation and submission of the NMTC Application for tax credit allocation.
- Develop and submit other relevant applications: e.g., CDE certification for new legal entities etc.
Other | 5%
- Work with NMTC Director to implement NMTC communications, marketing materials, and initiatives.
- Team meetings and other internal meetings, as necessary.
Highly qualified candidates will share Accion Opportunity Fund’s commitment to its mission and will embody the organization’s core values bringing a broad range of skills and experience including, but not limited to:
- You have a passion for Accion Opportunity Fund’s mission of advancing the economic well-being of low-income, BIPOC, and otherwise underserved communities.
- You have a successful track record in the responsibilities listed or have demonstrated experience that is related or easily translatable to these responsibilities.
- Bachelor's degree from an accredited college or university. Experience may be substituted for education.
- You are adept at reading and analyzing financial statements.
- You understand the structure and terms of typical commercial or multi-family residential real estate financing transactions.
- You have strong proficiency with MS Office (Word, Excel, Outlook, PowerPoint).
- You have strong project management skills and are able to organize, plan, and carry out activities independently to meet specific, competing timelines and goals under pressure.
- You take initiative to identify challenges and opportunities, can multi-task efficiently, and set work assignment priorities.
- You have a high attention to detail that you have applied not just to analyze and ensure accuracy of financial statements, models, or forecasts, and in in reviewing legal contracts or similar documents to spot potential liabilities or risks, but also in day-to-day activities such as ensuring other departments’ accurate use of our key performance metrics and in updating project details in our database.
- You have strong interpersonal, written, and verbal communications skills and are comfortable and adept at collaborating and negotiating with a variety of financing partners and professionals (for example, other CDFIs, senior staff at non-profit organizations, banks, real estate developers, as well as with their attorneys).
- You are a strong contributor within a team environment with a positive and productive attitude and know how to set an example and provide leadership through challenging times involving significant organizational growth and change.
- At least three years of experience in the NMTC (or other tax credit) industry, community economic development, commercial real estate lending, or real estate asset management.
- Educational background in finance, accounting, or community development.
- Experience in applying a racial justice lens to economic development.
Perks & Benefits
Our mission is what motivates us to come to work each day. We know that happy employees are productive employees, which is why we offer a comprehensive benefits package that includes:
- Competitive salary commensurate with experience.
- An environment that values work-life balance.
- 100% company-funded Medical, Dental, Vision, Life & Disability coverage for employees (Based upon your plan selection). 90% company-funded dependent coverage (Based upon your plan selection).
- Voluntary benefits with payroll deduction for Supplemental Life & AD&D insurance, Auto/Renters/Homeowners insurance, Pet Insurance and Legal plans.
- Tax deferred & Roth 403(b) Retirement Plan with employer match. Employer match increases with tenure.
- Paid vacation days (increased with tenure), 12 paid holidays, and 10 Sick days, and family leave days per year.
- Position ideally located near AOF’s offices in San Francisco Bay Area or Los Angeles, but remote is possible as well.
Diverse candidates are encouraged to apply, especially BIPOC.
Accion Opportunity Fund is an Equal Opportunity Employer. aofund.org