Community Investments Officer

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 highly specialized position that guides complex Low-Income Housing and New Markets Tax Credits (LIHTC and NMTC) 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. Key competencies include financial modeling, project management and follow through; analytical and critical thinking; high-level organizational and attention to detail; interpersonal skills; and promoting the mission of Evernorth to its partners and the public.

Representative Responsibilities

• Create and maintain relationships with external partners to sustain a pipeline of investment opportunities.
• Analyze prospective investment opportunities including preliminary LIHTC and NMTC 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 and NMTC developments and 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 prescribed underwriting standards, market trends, and portfolio or industry benchmarks. Propose or implement mitigating adjustments as directed or necessary.
  3. Review financing and regulatory documents in collaboration with Director of Community Investments and Director of Underwriting.
• 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 consulting activities.
• Assist in identifying opportunities to expand Evernorth consulting prospects and for new partnerships.
• Work with the Director of Underwriting, Director of Community Investments, Capital Management, Asset Management and other Evernorth staff to prepare social impact analysis, preliminary project summaries, and investment proposals for board and committee review; attend investment committee meetings and present projects; drafting of 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.
• Post investment closing, review borrower requisitions and/or capital calls, and project outcomes/impact data, and assist with NMTC applications and project unwinds as needed.
• Work with Asset and Capital Management to maintain and update a database of investments.
• 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 syndication proforma templates as needed.
• 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 by Senior staff.

Education, Experience, & Competencies

EDUCATION, LICENSES AND/OR CERTIFICATIONS REQUIREMENTS:

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

JOB KNOWLEDGE AND EXPERIENCE:

• Minimum of 3 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.
• Advanced skills using Excel for financial modeling, and experience with the maintenance and creation of complex Excel workbooks.
• 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 NMTC or other federal financing programs is preferred.
• Familiarity with legal documents supporting real estate transactions or loans is preferred.

JOB ESSENTIAL SKILLS:

• Proficiency in Microsoft Office – Excel, Word and Outlook, with high proficiency in Excel through either job experience or training.
• Exemplary reading and writing skills.
• Strong organizational, analytical thinking, problem solving, math, and financial analysis skills.
• Ability to meet multiple deadlines while maintaining attention to detail.
• Effectively prioritize in a fast paced, exciting environment.
• Ability to be focused and flexible.
• Ability to work effectively with others on a common task and work independently.
• 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.