New Markets Tax Credit Program Manager

VISION STATEMENT: People in every community have an affordable place to live and opportunities to thrive.

MISSION STATEMENT: We work with partners to connect underserved communities in the northern New England region with capital and expertise to advance projects and policies that create more inclusive places to live.

SUMMARY:

The NMTC Program Manager executes the day-to-day operations of Evernorth’s New Markets Tax Credit (NMTC) program. The position ensures compliance with program award and investor agreements; develops, coordinates, oversees, and executes a pipeline of NMTC investments from intake to compliance end; and supports strategic goals to ensure tasks and deliverables are met.

RESPONSIBILITIES:
Plan, develop, and manage a pipeline of qualified NMTC investment opportunities that align with Evernorth Rural Ventures’ (ERV) business strategy, NMTC program requirements, and Evernorth impact objectives.
Manage the full lifecycle of NMTC transactions from intake and pipeline placement through investment proposal, closing, and compliance.  Ensure complex transaction underwriting and closing documentation; requisitioning, payment, and distribution of funds; compliance reporting; and unwind for each project.
Support sponsors and developers in their efforts to bring forward a financeable NMTC transaction. Collaborate with senior leadership and sponsor teams to secure debt and equity capital for NMTC transactions.
Maintain relationships with NMTC investors and lenders, and other financial partners.
Analyze potential NMTC opportunities, anticipate challenges, and mitigate structural, operational, and compliance risks.
Work with compliance and asset management consultants to ensure adherence to CDFI Fund allocation agreements, QALICB compliance, and investor requirements, including CDFI Fund reporting.
Work with senior leadership to negotiate deal terms and evaluate key transaction points.
Manage attorneys, accountants, and external consultants to ensure timely and accurate execution of legal and financial documentation.
Work with Finance to ensure investor reporting, sub-CDE operations, capital flow, payments, disbursements, and unwinds of investments.
Work with Risk Management to ensure project requisitioning of funds compliance and alignment with approved budgets and timelines.
Staff ERV Governing and Advisory Boards.
Prepare or oversee preparation of project summaries, investment proposals, and impact documentation consistent with ERV’s business strategy, investment criteria, and risk management protocols.
Assist in planning, writing, and managing future NMTC allocation applications.
Collaborate with other NMTC allocatees when ERV’s allocation is insufficient.
Maintain a working level knowledge of NMTC program compliance, NMTC tax issues, federal and state funding and incentive programs, and financing options.
Support other Evernorth business activities, as needed.
TEAM & CULTURE:
Maintain high standards of confidentiality and professionalism.
Uphold corporate principals of respect, service, value, and partnership.
Advise on program goals, capacity, planning, and processes with Senior staff.
Carry out other duties as assigned.
REPORTS TO:            Vice President, Community Investments
SUPERVISES:             None
EDUCATION, LICENSES AND/OR & CERTIFICATIONS REQUIREMENTS:
Bachelor’s degree in business, finance, economics, real estate, or related field required.
Formal real estate, tax credit, economic development, community development, business credit, underwriting or financial analysis training is strongly desired.
Valid Driver’s License required.
Criminal background check.
JOB KNOWLEDGE AND EXPERIENCE
3+ years of direct NMTC experience; or five years of related experience in community or economic development, tax credit incentivized, or Community Development Financing Institution (CDFI) financing; complex business or commercial real estate development financing fields.
Experience in underwriting complex economic development, real estate tax credit, community development or financing.
Working knowledge navigating complex financial models, tax benefit financing structures, programmatic compliance, investor objectives, mission, and credit risk.
Working knowledge of raising and deploying capital for community development, NMTC syndication, and CDFI Fund NMTC program requirements preferred.
Familiarity with array of legal documents used in tax credit or real estate financing.
JOB ESSENTIAL SKILLS
Key competencies include real estate or community development finance and underwriting; analytical and critical thinking; solution-oriented problem solving; project management; interpersonal skills; and promoting the mission of Evernorth to its partners and the public through a variety of means.
Building and maintaining strong relationships with professional integrity.
Proficiency in Microsoft Office (Excel, Word, Outlook).
Strong organizational, analytical, problem-solving, and financial analysis skills.
Excellent written and verbal communication; effective relationship builder; and proactive initiative taker.
Skilled at working with a wide variety of people in a wide variety of locations via phone, video, email, and in person.
Skilled negotiator to move all parties toward shared goals and resolution of issues.
Capable of managing multiple, time-sensitive transactions at different stages concurrently.
Comfort with complex spreadsheets and fast-paced environments.
Adaptability, focus, and responsiveness to shifting priorities.
Commitment to Evernorth’s mission and community impact.
The following are the general Evernorth work environment and physical demands:
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
The noise level in the office work environment is usually quiet.
This position requires periods of sitting, standing, walking, stooping, and bending.
Ability to reach with hands and arms, and talk and hear.