Portfolio Associate - Community Development Finance

Location:           Chicago, IL
Type:                 Full-time position

We’re seeking an Associate to work with our growing community development finance team and New Markets Tax Credit (NMTC) practice to support equitable, innovative and 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 curious, critical thinker that enjoys analyzing both quantitative and qualitative data as well as developing strong relationships with mission-driven organizations. The successful applicant will be resourceful, comfortable working in unstructured environments, detail oriented, and a strong communicator. Direct experience or training in all areas of work and key responsibilities listed here is not required Our team works exclusively on projects in economically distressed areas and strives to incorporate individuals who are committed to understanding the complex challenges facing these communities. If you’re intellectually curious and committed to creating positive change, please apply.

Key Responsibilities

  • Overseeing and managing a portfolio of NMTC transactions
  • Communicating and building relationships with mission-driven borrowers and investors
  • Reporting to senior management and clients on the activity and status of the portfolio
  • Creating financial reports and coordinating with outside accountants to complete quarterly financials, audits, and tax returns
  • Collecting, tracking, and reviewing borrower financial and compliance reporting
  • 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 the originations team during deal closings
  • Working with clients, borrowers, and investors to identify and troubleshoot problems
  • Assisting in the unwinds of NMTC investments
  • Developing and improving systems and processes to increase efficiency and quality


  • Bachelor’s degree in Finance, Accounting, Business Administration, or a related field
  • Demonstrated interest in equitable community and economic development, impact investing, socially responsible investing, or related topics
  • 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 package, including company-paid health and dental insurance, 401k with employer match, vacation, parental leave, and 10+ paid holidays
  • Paid membership to a professional organization to encourage professional growth
  • Frequent employer-backed volunteering events taking place throughout Chicago
  • Regular peer-delivered “brown bag” sessions on topics of professional interest
  • Monthly happy hours and staff get-togethers

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 respond by submitting a cover letter and resume by email to Isaiah Horne at jobs@sbfriedman.com. Please include “Portfolio Associate – Community Development Finance” in the subject line. Please address your experience working with underserved communities, either personally or professionally, in your cover letter.