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NMTC Asset Manager

Posting Date: July 10, 2024
Application Closing Date: Aug. 15, 2024
SDS Capital Group
1281 Westwood Bl
Los Angeles, CA 90024

NMTC Asset Manager / Senior Asset Manager

SDS Capital Group is an impact investing management firm with a focus on delivering positive social impacts within low-income communities while generating market rates of return. SDS has been selected as one of the top 50 impact managers in the country by ImpactAssets 50 every year since 2018.

 Our core funds include:

  • $752 million New Markets Tax Credits (NMTC) fund
  • $150 million American South Real Estate Fund that provides preferred equity and debt financing for value-add real estate projects
  • $200 million SDS Supportive Housing Fund to house the homelessness in California

Visit https://www.sds.capital/ for more information.

 
The Opportunity:

SDS Capital Group is seeking an Asset Manager / Senior Asset Manager to support its National New Markets Fund (NNMF) and its NMTC clients. The mission of NNMF and our clients is to invest in transformative projects that benefit both the borrower’s low-income employees and the local community though positive economic and social impacts. Since 2006, NNMF has received New Markets Tax Credits (NMTC) totaling $752 million from the U.S Department of Treasury. SDS has expanded on these activities to provide the SDS Advantage Platform to other NMTC lenders that seek to outsource their back-office needs. We manage approximately $1 billion of cumulative clients’ assets.

Our NMTC operations include but are not limited to originations, due diligence, underwriting, site visits, structuring, negotiating the investment terms, closing the transaction, loan servicing, compliance, investor reporting, and asset management.

SDS is a non-hierarchical organization where success requires team members who are self-starters with natural curiosity and the ability to thrive in a fast-paced entrepreneurial environment. The position will report directly to the Managing Director of NMTC Investments and be an integral member of the team. 

Summary:  The position ranges from Asset Manager to Senior Asset Manager, to be determined based on the skills and years of NMTC experience. The successful candidate will oversee a portfolio of debt investments.  Generally, this includes ensuring the financial success of the investment and funds, continuing compliance with the executed operating and fund agreements, continuing compliance with loan documents, and adherence to various regulatory requirements.  These requirements are fulfilled through financial and compliance monitoring, reporting, and direct interaction with the Borrower for each individual investment.

Specifically, the Senior Asset Manager is responsible for:

InvesInvestment Closing and Underwriting:

  • Assist with NNMF and clients deal closings: attend weekly conference calls, track closing Smartsheet, ensure proper onboarding, and collaborate internally to resolve issues proactively   
  • Review and assist in the underwriting of proposed investment
  • Review all program compliance with New Markets Tax Credit Program ensuring qualifying program parameters are met, reasonable expectations and legal alignment

On Monitoring:

  • Manage a portfolio of investments, including reviewing construction draw requests, assessing financial performance of borrowers, conducting annual outreach calls/site visits, and corresponding regularly with borrowers displaying signs of weakness and increased risk
  • Collection and review of borrower and partner financial statements
  • Prepare, collect, analyze, and report of information relating to performance of each deal to investors and the CDFI Fund
  • Participate in the assessment of policies and procedures to continually improve our process efficiencies.

 

Core Competencies Include:

  • Excellent communication, organizational and interpersonal skills, as well as the ability to work under tight deadlines, manage priorities, and complete assigned tasks with minimal management follow up
  • BA/BS in finance, economics, business, accounting or related fields
  • Minimum of 2 years’ experience in asset management, underwriting, real estate development, finance, community development, or economic development. NMTC or LIHTC experience a plus.
  • Keen analytical skills and attention to detail with strong financial skills and knowledge is essential
  • Self-starter with ability to problem solve
  • Strong PC (Word, Excel, Database) skills are required  
  • Willingness to learn complex financial transactions

 

Job Type: Full-Time Hybrid depending on experience and location. SDS will consider remote work for strong candidates. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.

For more information, contact:

Beth Fore ([email protected])

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