Location: Chicago, IL
Type: Full-Time Position
Category: Community/Economic Development, Development Finance, Economics/Finance Research
Experience: 1 - 3 years
SB Friedman is seeking an associate to join our growing Transaction Closing and Asset Management (TCAM) team within our Community Development Finance practice to support equitable, innovative and impact-driven real estate projects nationwide. This position will be involved in all aspects of SB Friedman’s Community Development Finance practice, gaining exposure to high-impact real estate projects, deal structuring, asset management and public-private financing. Our work brings to fruition real estate projects that support vital social and economic infrastructure, including affordable housing, healthcare, education, healthy foods and quality jobs.
OUR FIRM
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. Our Community Development Finance practice includes 12 full-time employees working with a range of nonprofits, affordable housing developers, mission-based companies, and community development financing partners to facilitate impactful development in low-income communities across the United States. Our team works exclusively on projects in economically distressed areas and strives to hire individuals who are committed to understanding the complex challenges facing these communities. We work in a highly collaborative environment, and fund and provide time for training and professional development activities.
THE ROLE
The ideal candidate for this position is an intellectually curious critical thinker who enjoys problem-solving and is committed to using their skills to drive equity-focused investments. The successful applicant will be resourceful, detail- oriented, and constantly looking to expand their base of knowledge and skills. Direct experience or training in all areas of work and key responsibilities listed below are not required. We are seeking a candidate that brings motivation, curiosity, and an ability to learn skills on the job.
The day-to-day work includes:
- Playing a vital role in the financing of transformative real estate projects across SB Friedman’s national footprint
- Supporting the Transaction Closing and Asset Management (TCAM) team with a variety of portfolio management tasks such as client reporting, debt and distribution cash movements, bookkeeping, compliance, and more
- Maintaining communication and building relationships with mission-driven borrowers and investors
- Monitoring the construction of new projects and assisting in the disbursement of construction funds
- Collecting, reviewing and tracking borrower financial and compliance reporting
- Assisting Community Development Entity (CDE) clients with the investment unwind and exit process
- Providing key financial underwriting and analysis support for community development real estate projects
- Assisting in structuring diverse financing tools, including New Markets Tax Credits (NMTC), public subsidy sources, private capital, and philanthropic grants and impact investments, to support challenging, high-impact projects
- Supporting the transaction closing process by reviewing/generating diligence documents and participating in group calls
- Tracking and refining project budgets and available funding sources
- Helping clients understand their obligations and commitments within the financing structure
- Developing and enhancing our systems and practices to support efficient, accurate work
QUALIFICATIONS
We are looking for candidates that:
- Hold a bachelor’s degree in finance, accounting, economics, business administration, real estate, or another relevant field
- Have 1+ year relevant experience, including internships and analogous work experience
- Have direct experience in finance and/or accounting, gained through work, internships or academic study (preferred)
- Demonstrate strong quantitative analysis skills, particularly using Microsoft Excel
- Demonstrate strong analytical and communication skills
- Demonstrate an interest in equitable community and economic development, impact investing, or related topics
OTHER DETAILS
We are focused on the professional success of our employees and offer the following:
- Expected base salary for this position ranges from $70,000 to $80,000. Actual salaries may vary based on several factors, such as a candidate’s qualifications, skills and experience.
- Performance-based bonus compensation
- Generous benefits package, including: 100% company-paid health and dental insurance premiums, 401(k) with employer contribution, flexible spending programs for health and childcare expenses, pre-tax transit benefits, employer-sponsored bikeshare membership, free membership to onsite building gym, paid vacation time, paid sick time, paid parental leave, 11 paid holidays with the ability to float holidays, and paid time off (office closure) between Christmas Day and New Year's Day.
- Hybrid in-office/remote work policy
- Firm-wide volunteering events in metro 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, ethnicity, sex, gender identity or expression, sexual orientation, age, ancestry, national origin, genetic information, height, weight, physical or mental disability unrelated to ability, pregnancy, marital status, familial status or responsibilities, parental status, cultural differences, physical appearance, arrest or conviction record, political beliefs, partisan considerations, military status, matriculation, credit information, or any other protected classification under federal, state or local law. To view our firm's Civil Rights Compliance and Affirmative Action Plan, please contact us at info@sbfriedman.com.
TO APPLY
Please email the following to Jenny Kleiman Dowd, Administrative Director at jobs@sbfriedman.com with “Associate – Community Development Finance” in the subject line.
- Cover letter outlining your interest and qualifications for this role
- Resume
References may be requested as part of the hiring process.