Director, New Markets Tax Credits

Low Income Investment Fund

  • Atlanta, Georgia

  • Published : 2022-11-24
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Job Description

  • Job Title Director


Job Description



Location: A LIIF office (NYC, Atlanta, Washington D.C., San Francisco, Los Angeles)

Reports to: Senior Vice President, Chief Lending Officer

Exempt classification: Exempt

Status: Regular, full-time


This position leads LIIF’s New Markets Tax Credits (NMTC) program and Bond Guarantee Program (BGP). Primary responsibilities include setting the strategic direction of the NMTC program, oversight of deal selection and eligibility, structuring deals, negotiating loan documents, coordinating reporting and compliance, and supporting application efforts and communications efforts around publicizing LIIF’s work. Responsibilities also include managing LIIF’s relationships with national organizations focused on NMTCs (CDFI Fund NMTC, investors, CDEs, NMTC Coalition and Working Group). The Director will also lead LIIF’s application, management and deployment of BGP funds, providing strategic direction, oversight of deal selection, and also oversight of BGP compliance and reporting and other support as needed.


The Director of NMTC reports to the SVP, Chief Lending Officer (“SVP”). The SVP leads debt origination in the markets, and is responsible for NMTC, BGP and Racial Equity and Impact Lending. This position will lead a team that includes BGP and NMTC professionals; the Deputy Director, NMTC will assist on deal closings and NMTC and BGP program management matters;; the Senior Asset Manager, NMTC will provide ongoing asset management, unwinds and TLR.This position will also work with Loan Officers on structuring, and closings, and the SVP, Chief Credit Officer on originations and asset management, as appropriate. This role also works closely with key members of LIIF’s Finance Department and with the Director of Compliance, as well as staff in Development and Communications division.


NMTC Strategy and Application: The Director develops and recommends LIIF’s NMTC strategy, including articulation of desired impacts and outcomes, for approval by the President. The Director leads the application strategy and approach and is responsible for writing several sections, with support from the VP Fund Development. The Director is LIIF’s Subject Matter Expert on the NMTC Program in general and serves on the NMTC Coalition as LIIF’s representative.

NMTC Origination: The Director manages, in close coordination with the President, the SVP, market directors and loan officers, the process to screen new NMTC transactions, ensure the proposed structure meets LIIF standards, review preliminary numbers and in some cases develop NMTC models. The Director will be responsible for building the NMTC pipeline through LIIF’s NMTC consultant network. The Director also assists loan officers in drafting a reservation of credits letter and a term sheet for a transaction, coordinate receipt of term sheets from equity investor and leverage lenders, if applicable, and ensures deposits are collected. The Director manages the relationship with the NMTC Advisory Board and its review of projects (and application strategy).

NMTC Underwriting: The Director supports loan officer’s underwriting efforts to ensure the structure and NMTC terms are consistent, comply with LIIF’s standards, and are executable. The Director prepares/reviews Allocation Memos and submits them for internal approval.

NMTC Closing: The Director has primary responsibility for all NMTC closings (sharing the responsibility for leading transaction closings with the Deputy Director). This includes overseeing deal structuring, participating in closing calls, negotiating with other parties in the transaction, reviewing and commenting on financial models and legal documents, working on NMTC compliance and due diligence issues, and working closely with finance on funding.

NMTC Ongoing: The Director assists the Loan Officer in preparation of the closing memoranda and the handoff to loan servicing and asset management teams, and supports efforts to keep the files in audit-ready condition. The Director supports ongoing compliance efforts including reports sent to CDFI Fund and coordinates the NMTC pipeline for compliance with allocation agreements.

NMTC Development & Communications: The Director leads NMTC application efforts and works with the communications team to ensure that LIIF’s visibility as a leader in NMTC with the CDFI Fund and in the media is increasing. In addition, the Director represents LIIF through speaking engagements regarding the NMTC program.

NMTC - Other: The Director is responsible for all program related activities (new sub-CDE formation, lead process for allocation agreement review and execution, NMTC manual updates, material events reporting, etc.). The Director assists in the training and mentoring of Loan Officers, Credit Associates, Loan Associates and others in various aspects of their professional NMTC development. The Director may also be required to provide technical assistance to less sophisticated borrowers as appropriate. The Director is expected to represent LIIF to outside groups including investors, to attend conferences as LIIF’s primary representative, and to be available to perform due diligence or to provide technical assistance. The Director must have the knowledge and capability to function independently.

Bond Guarantee Program (“BGP”) Strategy and Application: The Director has primary responsibility for overseeing all BGP activities, including originations and requisitions. The Director will work closely with the Deputy Director, NMTC, Loan Officers, Loan Associates, and Finance staff. The Director will serve as the leader of LIIF’s BGP program and the Subject Matter Expert on the overall BGP. The Director will also be responsible for documenting the BGP workflow and end to end process.

BGP Origination: The Director manages, in close coordination with the President, the SVP, market directors and loan officers, the process to screen new BGP transactions, ensure the proposed structure meets LIIF standards, and manage the allocation of the BGP award. The Director also assists loan officers in the requisition, rate lock and funding process, as needed.

BGP Development & Communications: The Director leads BGP application efforts and works with the communications team to ensure that LIIF’s visibility as a leader in BGP with the CDFI Fund and in the media is increasing. In addition, the Director represents LIIF through speaking engagements regarding the BGP program.

Other Functions

Other duties as assigned.


The ideal candidate will have demonstrated skills, knowledge, and a minimum of 5 years of experience in NMTC, and 7 to 10 years of general real estate or community development lending experience. Experience with BGP is desired but not required. Experience should include the following areas: (1) closing complex transactions, thorough knowledge of legal documentation of real estate secured transactions, working with institutional investors, managing third party contractors such as accountants and attorneys, and knowledge of the NMTC and BGP Program; (2) lending and credit analysis, structuring and deal underwriting in the real estate industry; with particular expertise in and comfort with complicated, multi-faceted transactions; experience in and/or knowledge in the fields of community development and the finance of affordable housing or community-based facilities; knowledge of and experience working with public subsidy programs; (3) strong written, verbal communication and public speaking skills; (4) ability to develop innovative products for a diverse borrower population; (5) ability to work independently and manage competing priorities with a modest amount of supervision and direction; and (6) ability and commitment to mentor and develop junior lending staff.


A bachelor's degree is required although an advanced degree in a relevant area of study such as real estate, urban planning, business administration or finance is preferred. In addition, the position requires a high degree of self-motivation, dedication, creativity, and perseverance, flexibility with time and willingness to accept a demanding (and personally satisfying) position. Strong time management skills, attention to detail and ability to work well with others are critical attributes as is an orientation to excellent customer service at all times.


Please apply with Resume and Cover Letter via our recruitment portal:

Notice to Third Party Recruitment Agencies:

Please note that Low Income Investment Fund does not accept unsolicited resumes from recruiters or employment agencies. In the absence of an executed Recruitment Services Agreement, there will be no obligation to any referral compensation or recruiter fee.

In the event a recruiter or agency submits a resume or candidate without an agreement Low Income Investment Fund shall explicitly reserve the right to pursue and hire those candidate(s) without any financial obligation to the recruiter or agency. Any unsolicited resumes, including those submitted to hiring managers, shall be deemed the property of Low Income Investment Fund.

We do not accept unsolicited phone calls. Only candidates being considered for a position will be contacted.

LIIF, an EOE (Equal Opportunity Employer), believes that diversity ensures excellence. All qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender, or national origin. Candidates of diverse background and with diverse experience are strongly encouraged to apply for this position.


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