Nonprofit Finance Fund Associate Director, Underwriting in New York, New York
Position: Associate Director, Underwriting
Location: This position will be based out of either our Los Angeles or Oakland office; however, we will consider other NFF office locations including remote locations.
Department: Financial Services
The COVID crisis and the uprising for racial justice have shone national light on both the urgent work required to build a more just and vibrant society for all Americans and the potential for positive action when our communities mobilize. In most cases, these efforts are spearheaded by nonprofits, community organizations, and their heroic staff who deliver essential services like affordable housing, social justice advocacy, health, youth development, and the arts. Yet these nonprofits and the communities they support operate within a flawed, inequitable funding system that controls their access to resources, impeding their ability to make a difference.
Nonprofit Finance Fund (NFF) is setting out to change that. We know that nonprofit leaders have power when they have access to capital and financial knowledge. Our strategy focuses on helping to shift that power by changing funding and financing practices so more money flows equitably and with less restriction to community-centered organizations led by and serving people of color, so they can be the drivers of their own change.
Read about our commitment to Diversity, Equity, and Inclusion here (https://nff.org/diversity-equity-and-inclusion) .
NFF’s Financial Services team provides nonprofit organizations with capital for their facilities and operational needs. We are committed to ensuring communities of color and their leaders have access to and control of the capital they need to meet their goals. We do this by partnering with organizations to ensure our financing products meet their needs now and as they evolve over time.
We are seeking an Associate Director, Underwriting to join our underwriting team. The Associate Director, Underwriting will play a central role in the growth and expansion of NFF’s financing business nationally. They will structure, underwrite, and close loans and New Markets Tax Credit (NMTC) transactions, working closely with other members of the Financial Services team to ensure NFF is deploying needed capital in a timely and expeditious manner. The Associate Director, Underwriting will partner internally to support meeting budgeted goals, contribute to process improvements, develop networks, and help ensure NFF’s financing is aligned with its mission and strategy. This role will be critical in driving projects forward from early-stage conversations through to closing while managing client and internal relationships throughout all points of the process. The position will contribute to our strategic direction of supporting community-centered nonprofits led by and serving people of color.
This position will be based out of either our Los Angeles or Oakland office; however, we will consider other NFF office locations including remote locations.Though we are currently working remotely and will not require attendance in any office until Summer 2021 at the earliest.
The Associate Director, Underwriting will report to the Director, Underwriting who is based in Philadelphia, PA.
Primary Duties and Responsibilities:
Nurture relationships with clients and support them throughout the loan process.
Assist in business development activities, including early-stage client visits, meetings with lending partners, and conversations and attendance at external events.
Conduct and prepare initial analysis of loan viability, structure and negotiate loan terms that reflect the needs of clients, and issue term sheets.
Underwrite complex financings, including tax credit transactions and loans with multiple lenders, and present to credit committee(s) for approval.
Manage closings, including drafting commitment letters and reviewing closing diligence and legal documents for consistency with key business terms.
Build NFF’s brand by representing NFF externally on panels, webinars, with lending partners.
Essential Requirements for Education and/or Experience:
You have a minimum of seven years of relevant professional work experience
You have a strong relationship-building approach with the ability to center the needs of clients and communities while balancing credit decisions
You have strong analytical skills and can present complex analytics in an accessible manner
You have excellent organizational skills and attention to detail
You possess excellent project management skills
You are a self-starter who can move complex projects forward without heavy oversight
You have a solutions-based mindset and approach
You are flexible, adaptable, and willing to pivot on short notice to meet the organization’s needs
You are proficient with Microsoft Office Suite and Salesforce (strongly preferred)
You have experience structuring, underwriting, and closing NMTC transactions (strongly preferred)
You have experience in one or more NFF’s core sectors -- charter schools, community health centers, human services, and supportive housing (strongly preferred)
You embody NFF’s mission, core values and commitment to equity (https://nff.org/about-us#what-were-about)
At NFF, we are invested in discussing the depth and breadth of each candidate’s background and experience during the interview process and using that information to determine the best offer. The salary range for this position begins at $105,000. NFF also provides an attractive benefits package that includes health insurance, retirement plan, paid time off, standard holidays, and commuter benefits.
All salaries are commensurate with experience and include an attractive benefits package.
Nonprofit Finance Fund is committed to diversity, equity, and inclusion in its workforce. We encourage candidates that will help us live out this commitment to apply.
NFF is an equal opportunity employer and does not discriminate against any applicant or employee because of race, color, religion, sex, national origin, disability, genetic information, age, or military or veteran status in accordance with federal law. In addition, NFF complies with applicable state and local laws governing non-discrimination in employment in every jurisdiction in which it maintains facilities. NFF also provides reasonable accommodation to qualified individuals with disabilities in accordance with applicable laws.
This job posting provides a general list of the essential responsibilities and qualifications required for this position. It does not represent a contract for employment and NFF reserves the right to change the description and/or posting at any time without notice.
When applying, please DO NOT include any of the following information with your job application: Social Security number; driver's license number or state-issued identification card number; financial account number, or credit or debit card number.
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