Director, New Markets Tax Credits Position Available In New York, New York

Basics Schedule Location Job Specifics How to Apply Indicates whether if this vacancy posting is part of the

NY HELPS

Program. NY HELP No The agency in which the vacancy exists. Agency Empire State Development, NYS The job title for the vacancy. Title Director, New Markets Tax Credits The job title for the vacancy. Occupational Category Other Professional Careers The salary grade for this vacancy. Salaries are determined by salary grade and bargaining unit. Salary Grade NS The collective bargaining unit to which this vacancy is assigned. Bargaining Unit None listed The minimum and maximum of the salary range for this vacancy. Salary Range From $90000 to $100000 Annually Indicates whether this job is full-time or part-time. If the job is part-time, an estimated percentage will be provided. Employment Type Full-Time This indicates the type of job, typically permanent, temporary, or provisional. ‘Provisional’ means that the appointment will be temporary until the incumbent takes and passes an appropriate civil service examination. Appointment Type Permanent Jurisdictional class is the indicator for how this job can be filled. The classified service is governed by the Civil Service Commission, and consists of competitive, non-competitive, exempt, and labor classes. ‘Competitive class’ indicates that the applicant must take and pass an appropriate civil service examination. ‘Non-competitive class’ indicates that the applicant’s qualifications will be evaluated without a civil service examination. ‘Exempt class’ indicates that the applicant will be evaluated by methods other than competitive or non-competitive, and that incumbents will not be granted tenure. ‘Labor class’ requires that applicants possess skills or other physical characteristics that cannot effectively be evaluated by other means. The unclassified service is legislatively defined, and includes such positions as elected officials, department and agency heads, and all academic personnel in public schools, colleges, and universities. Jurisdictional Class Non-competitive Class Estimates the percentage of time incumbents of this vacancy will be required to travel. Travel Percentage 0% This provides information on the expected workweek. Workweek Mon-Fri The number of hours in the workweek, typically 37.5 or 40 for full time, or any other number for part time. Hours Per Week 37.5 Workday The start time for this vacancy. If the agency employs flextime, this will be the earliest time this vacancy’s shift can start. From 9 AM The end time for this vacancy. If the agency employs flextime, this will be the latest time this vacancy’s shift can end. To 5:30 PM If checked, the agency allows flextime. Flextime allowed? No If checked, this vacancy includes mandatory overtime. Mandatory overtime? No If checked, this agency allows compressed workweek scheduling. Compressed workweek allowed? No If checked, this agency allows telecommuting for this position. Telecommuting allowed? No The county in which the vacancy is located. County New York The street address where the vacancy is located. Street Address 655 Third Avenue The city where the vacancy is located. City New York The state where the vacancy is located (the default is New York). State NY The zip code where the vacancy is located. Zip Code 10017 The duties that the incumbent of the vacancy will be expected to perform. Duties Description

• Applicants MUST submit a cover letter with resume to be considered.
• This position will require in-office presence. Hybrid work schedules may be possible based on specific job duties and consistent with ESD policy.
• Minorities, women, and individuals with disabilities are encouraged to apply.

Please contact Human Resources if you require an accommodation.

BASIC FUNCTION

The Director, New Markets Tax Credits (the “Director”) is responsible for the underwriting and closing of transactions which use New Markets Tax Credit (“NMTC”) financing. This involves structuring deals, securing internal approvals, leading the closing process, and negotiating deal documentation for Empire State New Market Corporation’s (“ESNMC’s”) NMTC allocations. The Director will also help manage the ongoing asset management, reporting and compliance activities of ESNMC’s NMTC investments. This work involves four major components: Asset Management, NMTC Compliance, Servicing, and Reporting to the CDFI Fund and internal/external stakeholders. The Director will have responsibility for making sure these aspects of ESNMC’s operations run smoothly, effectively, and in accordance with current rules and regulations, as well as with ESNMC and ESD policies and procedures. In this function, the Director will work closely and coordinate with the President of ESNMC, other ESD staff working on ESNMC’s activities as well as the Finance, Treasury, and Accounting teams, ESNMC’s Advisory and Governing Board members, and ESNMC’s consultants and legal counsel.

WORK PERFORMED

• Lead various aspects of NMTC deployment, including the creation of project approval memorandums, asset management, compliance and impact reports and memorandums, database management and updates, and board documents and briefings.
• Assist with underwriting and structuring NMTC transactions.
• Assist with asset management and compliance issues, and community outcomes reporting.
• Prepare project recommendation memorandums.
• Prepare materials for Project Review Committee meetings and Advisory, Governing, ESNMC, and ESD board meetings.
• Conduct in-person and virtual site visits to assess potential projects and borrowers both before and after closing.
• Liaise with regional office staff to attain information on potential projects and assess project viability.
• Work with other ESD staff across NYS to source, structure, underwrite, and close NMTC transactions.
• Day-to-day responsibilities for coordinating invoicing, interest payment collections, and distributions from subsidiary Community Development Entities to investment funds with the Accounting team.
• Obtain and analyze financial statements/tax returns of real estate projects as well as corporate and not-for-profit entities and individuals.
• Review financial projections and create cash flow models for operating companies and real estate developments, including sensitivity analyses.
• Perform risk assessment of credit and collateral ensuring loan stability and sound credit quality.
• Prepare memoranda explaining corporate and project financial strength, credit risks and funding gaps.
• Review, analyze, and document community impacts and other relevant measures with

ESNMC NMTC

strategy.

• Assist with NMTC Application preparation.
• Lead review and approval of construction requisitions post-closing.

The minimum qualifications required for this vacancy.

Minimum Qualifications Education Level required:

Bachelor’s degree with a strong financial and economic development background. Professional degree, including master’s degree in business administration, law, accounting, or public administration, preferred.

Relevant experience required:

Five (5) years of experience in finance (preferably community development finance serving low-income communities), real estate-based lending, and/or business lending, including borrower contact, credit analysis, due diligence, and loan documentation; direct experience with the NMTC program desirable.

Knowledge required:

The ideal candidate will have proficiency in analyzing financial statements of for-profit and nonprofit organizations and their real estate operations; and familiarity with federal, state, and local government funding sources for capital and operating needs of mixed-use developments, housing, and community facilities (e.g., childcare centers, educational programs, healthcare facilities, etc.). This will include working knowledge of financial accounting, strong analytic abilities, facility with financial modeling, and excellent written and oral communication skills. Basic familiarity with business law concepts including contracts, loan collateral, uniform commercial code, creditors’ rights and forms of business organization and sufficient knowledge to review and negotiate loan documents. Excellent skills in managing multiple tasks requiring strong attention to detail. Additional comments regarding the vacancy. Additional Comments Salary range as specified. Comprehensive Benefits Package. Some positions may require additional credentials or a background check to verify your identity. The name of the contact person for this vacancy. Name Jane Martinez – HR Trainer/Talent Acquisition Specialist The telephone number to use for questions about this vacancy. Telephone N/A The fax to use for this vacancy. Fax N/A Email address for emailing applications, or to ask questions about this vacancy. Email Address resumes@esd.ny.gov Address The street address of the contact for this vacancy. Street 655 Third Avenue The city for the contact for this vacancy. City New York The state of the contact for this vacancy (the default is New York). State NY The zip code for the contact for this vacancy. Zip Code 10017 Instructions for potential applicants. Notes on

Applying External Candidates:

Please attach cover letter and resume. To apply copy & paste URL in browser: https://bit.ly/3APr8cp

Internal Candidates:

Please apply through ADP using the Myself/Talent menu and submit your cover letter and resume for consideration

WE ARE AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO

DIVERSITY