VP of New Market Tax Credit

Job Description

Job Description

VP New Markets Tax Credit Operations

About TruFund Financial Services

TruFund Financial Services, Inc. ("TruFund") is a 501(c)(3) Community Development Financial Institution (CDFI) certified by the U.S. Department of the Treasury's CDFI Fund. Headquartered in New York City, TruFund serves communities through offices in Alabama, Georgia, Louisiana, New York, and Texas. Our mission is to promote economic development in underserved communities and among disadvantaged populations by providing innovative, affordable financial solutions to viable small businesses and nonprofit organizations that have difficulty accessing conventional capital.

Our lending and impact efforts are further enhanced through two wholly owned subsidiaries: Empowerment Reinvestment Fund, a national Community Development Entity that uses New Markets Tax Credits to attract private investment to distressed communities, and Tru-Capital Investment Fund - Impact Developers Fund, which provides equity capital to established, underrepresented affordable housing developers nationwide.

TruFund was established in 2005 as a nonprofit organization dedicated to advancing economic opportunity for people, businesses, and communities in need.

Position Summary

TruFund is seeking an experienced New Markets Tax Credit professional to lead the daily operations and execution of Empowerment Reinvestment Fund's NMTC platform. Reporting to the Executive Vice President and Chief Operating Officer, the VP, New Markets Tax Credit Operations will coordinate transactions from pipeline through closing, manage allocation and documentation controls, support deal sourcing, build and manage the operations team, and oversee ongoing administration of the NMTC portfolio. The role requires strong NMTC technical and execution experience; capital formation and primary underwriting leadership are not core requirements.

Reports to

Executive Vice President and Chief Operating Officer

Location

Remote with periodic travel to TruFund headquarters and other business locations

Employment

Full time

 

Compensation and Benefits

Estimated salary: $165,000 to $175,000, depending on NMTC technical expertise, transaction execution, portfolio administration, and management experience. TruFund also offers a full benefits package that includes health, life, dental, and disability insurance; sick leave; three weeks of vacation; three personal days; and 12 paid holidays per year.

Role Scope

The VP is the operational leader for the NMTC platform and is accountable for consistent, timely execution across the transaction and portfolio lifecycle. This role translates program strategy into coordinated workplans, ensures that documentation and approvals remain complete, and creates the processes, staffing, and controls needed to support closings and ongoing portfolio administration. The VP works closely with origination, asset management, compliance, finance, legal counsel, investors, leverage lenders, borrowers, and consultants.

Key Responsibilities

NMTC Platform Operations

• Manage day-to-day execution: Own the operating calendar, workplans, priorities, handoffs, and service standards for the NMTC platform.

• Build repeatable processes: Create and maintain procedures, checklists, templates, dashboards, file standards, and controls for pipeline management, diligence, approvals, closing, funding, and post-closing administration.

• Coordinate cross-functional work: Align internal teams and external advisors, clarify responsibilities, escalate issues, and keep transactions and reporting obligations on schedule.

• Manage consultants and vendors: Define scopes of work, coordinate assignments, monitor deliverables, and support contract and invoice administration.

Transaction Coordination and Closings

• Coordinate the transaction lifecycle: Develop and manage detailed timelines from initial screening through due diligence, approvals, closing, funding, and handoff to asset management and compliance.

• Maintain closing readiness: Track conditions, approvals, entity documents, organizational records, third-party reports, legal documents, funding mechanics, and unresolved issues.

• Facilitate diligence and documentation: Collect and organize borrower, project, investor, lender, and legal materials; confirm that the appropriate technical, legal, compliance, and business reviews are completed.

• Support transaction structuring: Apply strong NMTC technical knowledge to coordinate multi-party structures and translate agreed business terms into executable closing plans.

• Ensure complete handoffs: Deliver organized closing records, critical dates, reporting requirements, and monitoring obligations to asset management, compliance, finance, and other responsible teams.

Deal Sourcing and Pipeline Management

• Support deal sourcing: Cultivate referral sources, identify potential projects, coordinate introductory discussions, and help maintain a pipeline consistent with ERF's mission and allocation strategy.

• Screen opportunities: Coordinate preliminary eligibility, readiness, impact, timing, and documentation reviews and route qualified opportunities to the appropriate decision-makers.

• Maintain pipeline reporting: Keep accurate pipeline stages, anticipated allocation needs, closing forecasts, dependencies, and next actions; provide routine reports to leadership.

Allocation Tracking and Portfolio Administration

• Track allocation and QEI activity: Maintain current records of allocation availability, transfers to subsidiary CDEs, Qualified Equity Investments, deployment deadlines, closings, and remaining balances.

• Administer sub-CDE entities: Coordinate formation, registration, good-standing requirements, annual filings, authorized signers, records, and dissolution activities with counsel and internal partners.

• Maintain the system of record: Ensure executed agreements, amendments, approvals, notices, reports, and correspondence are complete, current, accessible, and retained in accordance with policy.

• Coordinate portfolio requirements: Track recurring borrower, investor, leverage lender, impact, covenant, insurance, and reporting obligations and partner with asset management and compliance on follow-up.

• Support AMIS and impact reporting: Coordinate data collection and quality control for Transaction Level Reports, Institution Level Reports, allocation applications, and other regulatory, investor, and impact reporting.

Team Management and Continuous Improvement

• Build and manage the operations team: Assess staffing needs, recruit and onboard team members, allocate work, set expectations, coach performance, and develop technical capability.

• Strengthen controls: Identify execution, documentation, timing, and operational risks; implement preventive and detective controls and monitor corrective actions.

• Improve platform performance: Use transaction and portfolio data to identify bottlenecks, improve cycle time and accuracy, and recommend process or technology enhancements.

• Support budgeting: Develop and monitor the operational budget for staffing, consultants, legal services, site visits, systems, and other program needs.

Qualifications and Experience

• At least eight years of progressively responsible experience in NMTC, community development finance, commercial lending operations, tax credit transactions, portfolio administration, or a related field.

• At least five years of direct NMTC experience coordinating or managing transactions, closings, allocation activity, reporting, documentation, or portfolio operations.

• Strong working knowledge of Community Development Entities, Qualified Equity Investments, sub-CDE structures, Qualified Active Low-Income Community Businesses, IRC Section 45D, CDFI Fund guidance, and AMIS reporting.

• Demonstrated ability to manage multiple complex transactions, stakeholders, deadlines, and documentation workstreams with accuracy and sound judgment.

• Experience building or leading a team and establishing practical operating procedures, controls, dashboards, and accountability measures.

• Proficiency with Microsoft Excel and transaction, document management, or portfolio systems; experience with the CDFI Fund's AMIS portal is strongly preferred.

• Bachelor's degree in finance, accounting, economics, business administration, public administration, or a related field, or an equivalent combination of education and directly relevant experience.

• Experience with underwriting, credit analysis, or capital formation is helpful but is not required as a core qualification for this position.

\nCompany Description

TruFund Financial Services, Inc. ("TruFund") is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund and headquartered in New York City with offices in LA, AL, TX & GA. Our mission is to promote and foster economic development within underserved communities and among disadvantaged populations. TruFund achieves this by providing innovative financial solutions that have a TruImpact, revitalize communities, and create jobs. As a nonprofit, mission-driven entity, TruFund offers affordable loan capital to small businesses and nonprofit organizations that are financially viable but have difficulty accessing capital from banks or other conventional lenders.

Our lending and impact efforts are further enhanced through our two wholly owned subsidiaries: Empowerment Reinvestment Fund, a National CDE offering New Markets Tax Credit to enable access to private investment in distressed communities, and our Tru-Capital Investment Fund – Impact Developers Fund, which provides equity capital to established underrepresented affordable housing developers nationally.

TruFund was established in 2005 as a nonprofit organization dedicated to advancing economic opportunities for people, businesses, and communities in need.

Company Description

TruFund Financial Services, Inc. ("TruFund") is a 501(c)(3) Community Development Financial Institution (CDFI), certified by the U.S. Treasury Department’s CDFI Fund and headquartered in New York City with offices in LA, AL, TX & GA. Our mission is to promote and foster economic development within underserved communities and among disadvantaged populations. TruFund achieves this by providing innovative financial solutions that have a TruImpact, revitalize communities, and create jobs. As a nonprofit, mission-driven entity, TruFund offers affordable loan capital to small businesses and nonprofit organizations that are financially viable but have difficulty accessing capital from banks or other conventional lenders.\r\n\r\nOur lending and impact efforts are further enhanced through our two wholly owned subsidiaries: Empowerment Reinvestment Fund, a National CDE offering New Markets Tax Credit to enable access to private investment in distressed communities, and our Tru-Capital Investment Fund – Impact Developers Fund, which provides equity capital to established underrepresented affordable housing developers nationally.\r\n\r\nTruFund was established in 2005 as a nonprofit organization dedicated to advancing economic opportunities for people, businesses, and communities in need.