08/11/2021

Community Investment Officer, New Market Tax Credit Team – Chicago, IL preferred

Who we are:

For over 30 years, CSH has changed the lives of people who have been marginalized and are our most vulnerable neighbors by:

  • Helping communities create over 335,000 homes for individuals and families;
  • Providing technical assistance and support to communities across the country including over $1B in capital; and
  • Ensuring not only a home but access to the services and supports that people and communities need to thrive.

CSH has proven supportive housing can change the lives of individuals, families, and communities. We have also created a team of nationally recognized experts who are deeply dedicated to our organization and its goals. We attract talented and diverse individuals, offer competitive salaries and benefits, generous leave and PTO, and fully embrace the philosophy that work-life balance is achievable. With the goal of attracting proven candidates committed to making a difference and who aspire to advance our mission, CSH is now accepting applications for a Community Investment Officer (CIO) to join our New Market Tax Credit Team.

Why we need you:

CSH is seeking a creative, results-oriented individual committed to racial equity and advancing anti-racism practices with a passion for CSH’s mission. We need your expertise to manage CSH’s selection, underwriting, and closings of New Markets Tax Credit (NMTC) loans nationwide. To date CSH has received $285M in NMTC allocations in six application rounds, including $40M-$65M in each of the most receipt five NMTC application rounds. We use our NMTCs to invest in real estate projects that will provide healthcare and supportive services and that provide on-site supportive housing or connect those in need to supportive housing.

This position is based in Chicago but CSH will consider a candidate working remotely if they have strong experience in a same or similar role. You will report directly to the NMTC Team Director who is also based in Chicago.

What you will do?

As a key member of the team, you will help identify, screen, and manage a pipeline of potential NMTC projects; underwrite community impacts and credit risks of potential investments; prepare credit memos and obtain approvals from CSH’s internal and external committees; help manage the closing process; and ensure overall compliance with the US Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) NMTC requirements. Specifically:

  • Collaborate with CSH’s program staff to obtain feedback on projects; screen potential projects, and help prioritize based on alignment with our mission, strategic plan, and NMTC strategy. This includes conducting site visits.
  • Analyze and evaluate potential community impacts and outcomes of projects and sharing this evaluation through memos and community impact agreements and presenting potential projects for approval.
  • Collect and review real estate and other due diligence and fully underwrite the financial feasibility and credit risks associated with potential investments and identify ways to help mitigate such risks.
  • Prepare and present credit memos for approval to our internal and external credit committees.
  • Assist in reviewing the NMTC financial model and loan documents as part of the closing process to ensure required reporting, disbursement, and other closing conditions are incorporated.
  • Ensure a smooth transition of closed projects to CSH’s NMTC Portfolio and Asset Management Team and help resolve operating, compliance or other issues that may arise.

How you will lead:

As a leader in your role we also seek someone who will keep current of the CDFI Fund NMTC program to ensure CSH remains current and in compliance. Your expertise and experience will help CSH prepare our annual NMTC application to the CDFI Fund. Your strong communication will cultivate and maintain positive working relationships with Project Sponsors, consultants, investors, co-lenders, NMTC partners, attorneys, and tax accountants. We will also rely on you to help showcase the incredible impact of our NMTC projects by preparing summaries, data, reports, project profiles, web and general communications content, and representing CSH at conferences, trainings, and events for internal and external audiences. We also seek your insights and expertise to creatively support and identify ways to further strengthen and improve our systems, and contribute or lead special projects and assignments.

Working for CSH

CSH staff are adaptable, entrepreneurial, creative, and flexible problem-solvers. We are strategic thinkers who are committed to racial equity and treating each other – and the communities we serve – with respect. You should share a passion for the CSH mission and possess the skills to meet the expectations of this role.

Specifically, we are seeking:

  • Minimum of 3 years experience in community development, real estate finance, or non-profit lending. Prior experience in underwriting community health centers, social services, affordable/supportive housing, and/or familiarity with government funding programs and compliance is a plus. Prior NMTC experience is also a plus but not required.
  • Bachelor degree (preferred). Work or lived experience may substitute for education. Additional education or Master’s level work/accomplishment in Planning, Business, or Finance will be considered.
  • You must be organized, analytical, detail-oriented, and comfortable working with numbers/data.
  • Excellent written and verbal communication skills are a must including the ability to present and engage racially, ethnically, and socially diverse stakeholders.
  • Strong project management skills including creating work plans, building and motivating project teams and demonstrated experience managing multiple complex assignments and successfully meeting deadlines.
  • An interest in our mission, our work, affordable and supportive housing, community development, and in supporting the development of housing and services is required.
  • A conceptual understanding of institutional/structural racism and bias and their impact on underrepresented communities.
  • Experience incorporating the perspectives of multiple communities, including communities of color, in the consideration of impacts and outcomes of a decision-making process.

Compensation:

CSH offers generous benefits, opportunities for professional growth, and competitive salaries. We base our salaries on geographic location. A mid-range salary for a Community Investment Officer in a mid-market (Chicago) is $95,000- $100,000.  Salary offers will be based on where the candidate works and the candidate’s experience in similar roles.

Interested in joining our team as a leader in the national supportive housing movement?

To Apply:  Candidates should apply by clicking on the link below. All candidates should attach their Resume, Cover Letter and Salary Expectations as one Microsoft Word or PDF document.

CSH is proud to be an Equal Opportunity Employer.

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