Opportunity Fund was founded on the principle that a little seed money and the right financial advice can drive permanent and lasting change in the lives of Californians. As California’s largest microfinance provider, and a national leader in the microfinance movement, Opportunity Fund has helped thousands of people make basic yet transformative changes in their economic well-being. By offering microloans to aspiring entrepreneurs, and savings incentives to families and prospective college students, we provide the essential boost to empower individuals to reimagine their futures.
Certified as a CDFI by the U.S. Treasury, Opportunity Fund has a staff of 100+ and offices in San Jose, San Francisco and Los Angeles. Since 1994, our team has deployed over $600 million into low-income communities—and we are just getting started. Our vision is that all Californians have access to empowering financial products to improve their lives. To achieve this vision, Opportunity Fund seeks new members for our team who believe strongly in bringing economic opportunity within reach to everyone in our state. Opportunity Fund has received more than $300 million in NMTC tax credit allocations.
This position will be responsible for coordinating, collecting, and reviewing Opportunity Fund’s New Markets Tax Credit (NMTC) program due diligence and compliance reporting. The Program Assistant will also be responsible for surveying, compiling, and submitting reports on the social and economic impacts of NMTC projects
*Due Diligence and Compliance
- Collect due diligence reporting requirements from NMTC project partners, such as financial statements, audits, tax returns, budgets, proof of insurance, and compliance certificates, and ensure they meet contractual and regulatory requirements and deadlines. This position will be the point of contact with NMTC project partners.
- Review compliance documents submitted by NMTC project partners and flag for inconsistencies or deficiencies
- Report to Manager of impending reporting deadlines, track issues of non-compliance, and manage each such issue until it is resolved and maintaining documentation of same
- Ensure that due diligence and other related program documents are organized
- Coordinate scheduling for project site visits; participate in site visits annually
- Update and deploy surveys to project partners, analyze submitted data for inconsistencies and compliance with governmental and investor requirements, and update reports on the social and economic impacts of NMTC projects, including jobs created, quantity and quality of services provided, impact on the community
- Prepare and submit annual impact report to the US Department of the Treasury CDFI Fund
- Update and maintain program database to ensure accurate government, investor, and internal reporting
- Maintain current documentation of all processes and details necessary for correct and timely reporting.
Supporting the Development of NMTC Projects
- Coordinate scheduling of, and document NMTC Advisory Board meetings
- Provide administrative support for NMTC deal underwriting and loan closings (for example, obtain signatures for legal documents; review, organize and transmit legal documents)
- Assist in preparation and submission of the NMTC tax credit application for future allocation of tax credits by collecting data and entering it into the application portal
- Support the update of NMTC marketing materials such as project summary materials, website, and powerpoints.
Qualifications: The ideal candidate possesses the following qualities:
- 2+ years directly related experience
- Strong attention to detail and accuracy, highly organized
- Ability to quickly learn new processes and subject matter
- Comfortable navigating legal documents
- Exceptional interpersonal and communications skills, written & verbal
- Exceptional organizational skills
- Proficient with Microsoft Office suite: Word, Excel, Powerpoint
- Highly motivated individual with the ability to exercise initiative
- Commitment to community-based economic development and wealth creation for low income people
- Knowledge of community development and financial institutions is a plus
- Prior experience as a paralegal or similar familiarity with legal documents is a plus
- Prior accounting or finance experience or similar familiarity with financial statements a plus
- Prior non-profit experience preferred
Compensation, Benefits and Office Location:
- Competitive salary commensurate with experience.
- Medical, Dental, Vision, Life & Disability coverage 100% company funded for employees. Family coverage also available.
- Tax deferred 403(B) retirement plan (some employer contribution);
- Paid vacation (increased with tenure), holiday and sick leave days.
- Public transportation or paid parking benefit.
- Location: Opportunity Fund’s San Jose Headquarters
Job Type: Full-time