21 Custom House St., 8th Floor
Boston, MA
United States
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.
Please send your resume to Charles Edwards at edwards@mhic.com