Senior Finance Officer

Job Type
Finance/Accounting/Lending
Organization
Massachusetts Housing Investment Corporation
Contact Name
Charles Edwards
Contact Email
edwards@mhic.com
Contact Phone
Address

21 Custom House St., 8th Floor
Boston, MA
United States

Job Description

JOB DESCRIPTION

 

Job Title:                     Senior Finance Officer – NMTC Program

Department                 Finance

Classification              Officer Level III

Reports to:                  Director of Finance

 

Job Summary:  The Senior Finance Office is responsible for monitoring the post-closing operations of the New Markets Tax Credit program.  This includes overseeing the comprehensive accounting and financial reporting for the program.  He/She is also responsible for reporting to both the IRS and the CFDI fund on statutory and regulatory compliance of the MHIC allocatees.

 

Essential Functions:

  • Administer the maintenance of accounting records, financial reports and database reporting for the NMTC program.
  • Make sure each NMTC entity is in compliance with CDFI regulations: this includes distribution testing, substantially all testing, and CDE compliance certifications.
  • Manage the annual tax returns and audits for all NMTC related entities.
  • Assist business development with the closing of NMTC transactions:  review documents, including operating agreements and promissory notes, to ensure documents are consistent with MHIC’s standard practices.
  • Assist asset management with the unwind of NMTC transactions:  review documents, including the flow of funds, the CDE cash reconciliation template, the redemption test agreement, assignment & assumption agreements and debt forgiveness agreements, to ensure that the deals exiting are in compliance and good standing with the CDFI, our investors, our co-CDE’s, and our customers.
  • Coordinate earnings distributions from the CDE to the Investment Fund, and make sure each distribution is within distribution testing limits.
  • Coordinate leverage loan debt service payment where MHIC is acting as fund manager.
  • Coordinate annual AMIS reporting.
  • Monitor changes in NMTC programs.  Review investor practices and assist in solving related problems.
  • Establish and maintain working relationships with investors and our third-party accountants.
  • Work with IT department to maintain a custom database that addresses changes in the program.
  • Supervise and train the Finance Officer or Finance Specialist (if applicable).

 

Additional Responsibilities:

  • Oversee contracted services provided to other allocates.
  • Coordinate pricing for services and draft servicing agreements.
  • Consult with colleagues on a range of general accounting and loan-related issues.
  • Perform other duties as requested and/or assigned.

 

Supervision Required:  The Senior Finance Officer apprises the Director of Finance of all workload and scheduling, and receives additional assignments through the Director.  Independent judgment is required to perform this job.

 

Qualifications:  B.A. in finance or accounting.  Proficiency with Excel; familiarity with Accounting software helpful.  3-5 years industry specific experience.

Application Instruction

Please send your resume to Charles Edwards at edwards@mhic.com