Community Development Assistant Jobs in Vermont (NOW HIRING)

VISION STATEMENT: People in every community have an affordable place to live and opportunities to thrive.

MISSION STATEMENT: We work with partners to connect underserved communities in the northern New England region with capital and expertise to advance projects and policies that create more inclusive places to live.

Summary:

The Community Investments Officer is a specialized position that guides complex Low-Income Housing Tax Credits (LIHTC) transactions from the development process through investment approval and closing. This position collaborates with the Community Investments team, Evernorth staff, and external partners, sponsors, borrowers, lenders, and developers to analyze and close Evernorth’s tax credit investment opportunities.

Representative Responsibilities

• Create and maintain relationships with external partners to sustain a pipeline of investment opportunities.
• Analyze prospective investment opportunities including preliminary LIHTC project feasibility, real estate development and market risks, community impacts/benefits, developer/sponsor strength, and financial return.
• Complete due diligence, financial modeling, and analysis of LIHTC investments.
  1. Collect and review information and data presented in appraisals, market studies, environmental reports, credit reports, business plans, corporate and personal financial statements, and other information as needed.
  2. Identify key issues, trends, risks, community impacts, and conformance with underwriting standards, market trends, and portfolio or industry benchmarks. Propose or implement mitigating adjustments as necessary.
  3. Review financing and regulatory documents in collaboration with Director LIHTC Acquisitions.
• Work with project sponsors to structure transactions and seek opportunities to improve projects by bringing a problem-solving attitude to the work.
• Provide technical assistance to developer/sponsor partners as needed and in support of Evernorth syndication, lending, and real estate development lines of business.
• Assist in identifying opportunities to expand Evernorth line of business prospects.
• Work with the Director LIHTC Acquisitions, Capital Management, Asset Management and other staff to prepare preliminary project summaries and investment proposals for board and committee review; attend investment committee meetings and present projects; drafting of firm offers, letters of intent; and intake packages for closing attorneys.
• Collaborate with Capital Management and Asset Management staff, project sponsors, consultants, and legal teams to obtain and assess due diligence items for investment closing, including LPA and ancillary document review and financial modeling.
• Post investment closing, maintain partner relationships and coordinate with LIHTC Risk Management team to ensure seamless customer service and responsiveness during project construction, lease up, and first year credit delivery.
• Work with staff within and across departments to maintain and update project related information in the Evernorth database.
• Assist with matrixes, proformas, spreadsheets, and reports as needed for underwriting, Capital and Asset Management, and investor needs.
• Provide technical expertise to support, maintain, and update proforma template.
• The position requires travel within New England and to national events. It may be necessary to attend events outside of traditional office hours.
• Be aware of trends in the market and propose strategies to overcome challenges.
• Uphold corporate principles of respect, service, value, and partnership.
• Perform other tasks as reasonably requested.

REPORTS TO: Director LIHTC Acquisitions

SUPERVISES: None

EDUCATION, LICENSES AND/OR CERTIFICATIONS REQUIREMENTS:

• Bachelor’s Degree required.
• Coursework in finance/banking, community development, business or real estate desired.
• Formal credit, underwriting, or financial analysis training is preferred.
• Valid Driver’s License required.

JOB KNOWLEDGE AND EXPERIENCE:

• Minimum of three years recent syndication, underwriting, financial, or credit analysis experience, preferably in underwriting multifamily and/or commercial real estate, or operating/business loans for established banking institutions, community lending institutions, or private investment entities.
• Fundamental understanding of financial analysis including experience with balance sheet, income, and cash flow statements.
• Experience writing or assisting in the preparation of credit write ups/investment proposals of real estate or business transactions is preferred.
• Knowledge of LIHTC or other federal financing programs is preferred.
• Familiarity with legal documents supporting real estate transactions or loans is preferred.

JOB ESSENTIAL SKILLS:

• Financial modeling, project management and follow-through, analytical and critical thinking, high-level organizational skills with attention to detail
• Strong interpersonal skills
• Commitment to promoting Evernorth’s mission to partners and the public.
• Proficiency in Microsoft Office, Word, Outlook, and Excel; advanced Excel skills acquired through experience or training.
• Strong reading and writing skills.
• Strong organizational, analytical, problem-solving, math, and financial analysis abilities.
• Ability to meet multiple deadlines with meticulous attention to detail.
• Effective prioritization in a fast-paced environment.
• Focused, flexible, and able to work independently or collaboratively on common tasks.
• Commitment to the community and mission of Evernorth.

The following are the general Evernorth work environment and physical demands:

• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
• The noise level in the office work environment is usually quiet.
• This position requires periods of sitting, standing, walking, stooping, and bending.
• Ability to reach with hands and arms, and talk and hear.
• Specific vision abilities required by this job include close, distance and peripheral vision, depth perception and ability to adjust focus.
• This position requires substantial typing, reading and writing emails, and other related computer work.
• The employee is regularly required to use hands and fingers.
• May require driving to meeting and offsite locations in personal car.
• May require lifting up to 20 pounds.