Portfolio Associate - Community Development Finance

Location: Chicago, Illinois
Type: Full-time position

We’re seeking an Associate for our growing community development finance team and New Markets Tax Credit (NMTC) practice to support innovative, impact-driven development projects nationwide. This position will specialize in ongoing asset management of a large portfolio of clients’ NMTC investments including loan servicing, financial reporting, accounting, program compliance, and construction monitoring. Located in Chicago’s Loop, SB Friedman is a mission-driven advisor specializing in public-private partnerships and development projects that support community revitalization, placemaking and social equity.

The ideal candidate for this position is a proactive problem solver and critical thinker with the ability to learn new skills and techniques quickly. The successful applicant will be resourceful, comfortable working in unstructured environments, and highly detail oriented. Direct experience or training in all areas of work and key responsibilities listed here is not required. If you’re intellectually curious and committed to using your financial background to create positive change, please apply.

Key Responsibilities

  • Overseeing a portfolio of NMTC transactions
  • Maintaining financial records and coordinating with outside accountants to complete quarterly financials, audits, and tax returns
  • Collecting, tracking, and reviewing borrower financial and compliance reporting
  • Communicating and building relationships with mission-driven borrowers and investors
  • Reviewing loan disbursement requests during project construction
  • Servicing outstanding loans, including calculating interest and fee payments, invoicing borrowers, and assisting with payment processing
  • Opening bank accounts, maintaining online banking systems, and processing investor distributions and payment of expenses and quarterly taxes
  • Supporting originations team during deal closings
  • Working with clients, borrowers, and investors to identify and troubleshoot problems
  • Reporting to management and clients on the status and progress of portfolio-wide asset management functions
  • Developing and improving systems and processes to increase efficiency and quality

Qualifications

  • Bachelor’s degree in Finance, Accounting, Business Administration, or a related field
  • Demonstrated interest in impact investing, socially responsible investing, community and economic development, or related topics either through coursework, work experience, or volunteering
  • Familiarity with basic accounting entries and financial statement analysis concepts
  • Proficiency in Microsoft Excel
  • Ability to read and interpret legal documents
  • Ability to express complicated ideas and concepts clearly via email and in writing

Applicants with additional or equivalent combinations of experience/qualifications are encouraged to apply; the firm may tailor the position for the right candidate. 

Other Details

We are focused on the professional success of our employees and offer the following:

  • Competitive salary
  • Performance-based bonus compensation
  • Generous benefits packages, including company-paid health and dental insurance, 401k with employer match, vacation, and 10+ paid holidays
  • Paid membership to professional organization to encourage professional growth
  • Regular peer-delivered “brown bag” sessions on topics of professional interest
  • Monthly happy hours and staff get-togethers
  • Newly renovated offices overlooking the Chicago River in the Loop

All applicants will be afforded equal opportunity without discrimination because of race, color, religion, sex, national origin, ancestry, age, order of protection status, marital status, physical or mental disability unrelated to ability, military status, sexual orientation, pregnancy, or unfavorable discharge from military service.

To Apply 

Please upload a cover letter and resume (preferably in PDF format) addressed to Thomas Mitchell. Please include “Portfolio Associate – Community Development Finance” in the “Job Title” field.

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