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MassDevelopment

Assistant Vice President of New Markets Tax Credits

MassDevelopment is accepting applications for an Assistant Vice President of New Markets Tax Credits (NMTC) in the Agency’s Boston office.  Due to COVID-19, this position will most likely will be 100% remote to start until normal operations are resumed.

Under the general direction of the Senior Vice President of New Markets, the Assistant Vice President will be an integral member of the New Markets Tax Credit (NMTC) team with primary responsibility for asset management and compliance reporting for MassDevelopment’s New Markets entities and real estate portfolio. Other responsibilities include: research, data collection and analysis, as well as written contributions. This position requires strong interpersonal skills as the individual will be interacting extensively with internal staff (Legal and Finance) and external professionals (borrowers, tax credit investors, outside counsel, and accounting firms).

Essential Functions:

Asset Management Responsibilities:

  • Create invoices for borrowers and document payments.
  • Calculate payment distributions to Investment Funds.
  • Analyze construction disbursement requisitions for accuracy and completeness.
  • Review project/sponsor financial statements and calculate tests required under federal regulations.
  • Conduct annual site visits to assess and complete asset management reports.
  • Conduct annual borrower community benefits survey.  Analyze survey data and write community benefits report for the NMTC Advisory Board.
  • Manage process for amendment requests from borrower.
  • Manage “exit” of NMTC transactions, including review of legal documentation and creation of reconciliation reports.

Compliance Responsibilities:

  • Create project information and compliance records in Customer Relationship Management (CRM) system.
  • Ensure timely collection of compliance documents from borrowers and update the information in the CRM
  • Analyze compliance information provided by borrowers for accuracy and completeness.
  • Maintain compliance files.
  • Prepare MassDevelopment’s New Markets compliance certificates and associated documentation for tax credit investors.
  • Respond to tax credit investor requests and ensure timely delivery of compliance requirements to investors.
  • Prepare annual compliance information required by U.S. Department of the Treasury.

Other Essential Responsibilities:

  • Data collection and analysis for annual NMTC application.
  • For project leads, determine project eligibility and projected community benefits of project.

Minimum Qualifications:

  • Bachelor’s degree in business administration, finance, or accounting
  • Must possess a minimum of 3-5 years of experience in business/finance environment.
  • Strong verbal and written communication skills
  • Strong quantitative and analytical abilities 
  • Ability to comprehend financial legal documents
  • Proficient in Microsoft Office Suite 
  • Ability and means to travel is required.

Preferred Qualifications:

  • Master of Business Administration 
  • 5 years of experience in business/finance environment 
  • Experience in credit analysis/review of financial statements
  • New Markets/other tax credit experience 
  • Ability to work independently and on multiple projects simultaneously 
  • Experience in Customer Relationship Management software

About MassDevelopment:
Offering a wide range of finance programs and real estate development services, MassDevelopment supports economic growth, development, and investment across all sectors of the Massachusetts economy: public and private; commercial, industrial, and residential; and nonprofit, including health care, educational, cultural, and human-service providers. Our staff works in collaboration with developers, businesses, and banks to identify investors and leverage funds to support economic growth. For more information about MassDevelopment, please visit www.massdevelopment.com.

Benefits:
MassDevelopment offers a number of benefits including but not limited to: generous paid time off, 11 paid holidays, health and dental insurance, employer contributions into retirement savings plans, tuition and fitness reimbursement programs, and matching gift donations.

Equal Opportunity Employer - MassDevelopment is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, sex, color, religion, national origin, ancestry, age over 40, protected veteran status, disability, sexual orientation, gender identity/expression, marital status, or other protected class.

Interested candidates should click on the link below to apply. This posting can close without notice.

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