VP Project Credit

Application Closing Date: 
Friday, May 31, 2019
National Equity Fund, Inc.
10 S. Riverside Plaza
Chicago, IL 60606

National Equity Fund, Inc. (NEF), a leading non-profit syndicator of low-income housing tax credits, is seeking a Vice President of Project Credit for its Chicago office. This position is responsible for managing in-depth review of financial and overall capacity of developers and guarantors of Low-Income Housing Tax Credit (LIHTC) project investments and borrowers of NEF lending products, while seeking mitigating approaches for any identified gaps.

The essential duties and responsibilities will include: (a) guide and manage the analysis of the financial condition and overall capacity of prospective sponsors/guarantors and borrowers and recommend mitigating deal structures as needed, (b) develop and maintain ongoing relationships with key developer customers to gain an in-depth understanding of their business operations and capacity, (c) monitor guarantors’ financial condition and overall capacity through direct contact and discussions with internal staff and report findings to senior management, (d) guide and advise internal staff to assist in structuring credit arrangements in line with investors’ credit policies, (e) prepare or oversee the production of written credit analyses/reviews for Investment Committee addressing potential risks and present for approval, (f) manage the credit and underwriting policies and procedures for all aspects of NEF’s pre-development loan program, (g) develop and maintain rating and tracking systems for pre-development loans and participation loans with LISC or other partners, and (h) assist the SVP Chief Risk Officer in setting credit policies and standards, as well as goals and objectives for the credit function that are measurable, achievable and in line with company’s mission and risk tolerance.

The ideal candidate will have a bachelor’s degree in business, accounting or related field. Master’s degree preferred. At least five-seven  years’ experience in credit analysis or underwriting, preferably in the LIHTC industry. In-depth understanding of accounting and organizational structures of non-profit and for-profit real estate developers and general contractors. In-depth understanding of LIHTC investments preferred.  Must be proficient in Excel and ability to learn and utilize proprietary software.  Excellent communication and exceptional transactional, writing and problem-solving skills. Ability to train, manage and work in conjunction with staff at all levels. Strong analysis, transactional and solution-driven skills required. Ability to handle multiple tasks and prioritize to meet aggressive schedules.

 

 

Application Information: 
We offer a competitive salary, along with a comprehensive benefits package. Submit resume and cover letter with salary requirements via fax to (312) 360-0804, email to [email protected] or mail to National Equity Fund, Human Resources Department, 10 South Riverside Plaza, Suite 1700, Chicago, IL 60606. NEF IS AN EQUAL OPPORTUNITY EMPLOYER