Join a thought and innovative leader within the Community Development Financial Institution (“CDFI”) industry. Partners for the Common Good (“PCG”), a Washington, DC based community development loan fund, is seeking an Accounting and Compliance Specialist.
Founded in 2000, PCG’s mission is to advance economic justice and opportunity for low-income people and communities. We do this by partnering with CDFIs and socially motivated investors across the United States to serve borrowers that promote affordable housing, neighborhood revitalization, and healthy communities through support of education, community health centers, human service providers, day care and others.
PCG founded the CDFI industry’s first wholesale loan participation network that today has partnered with over 40 CDFIs in Washington, DC and 33 states, originated over $60 million in participation transactions, and developed a five-year strategic plan with an objective of growing its portfolio from $20 million to $50 million.
PCG has also enhanced its lending abilities as a first time recipient of a New Markets Tax Credit (NMTC) award. PCG received $35 million in NMTC allocations and to date has closed four (4) transactions for a total of $24.5 million in allocations.
PCG is leading the CDFI industry into the digital sector with the launch of its groundbreaking CapNexus.org. CapNexus matches community development finance opportunities with sources of capital. The platform has 600+ users and has posted over $1 billion community development transactions.
PCG is also a leader in social impact assessment and public policy advocacy. Our work is pioneering in its creation of new tools and infrastructure for community development finance organizations to manage portfolios and grow scale and impact.
PCG’s office is located in Washington DC.
The Accounting and Compliance Specialist is a mid-level position with responsibilities in both the accounting and lending areas of Partners for the Common Good. The incumbent will manage the compliance and reporting duties in these areas, accounting duties for the New Markets Tax Credit transactions, and will provide additional support with financial and portfolio management. This position reports to the Director of Finance and will work closely with both the accounting and lending teams of PCG. This position is full-time.
- Provide general ledger support with account reconciliation, review of transactions and batch entries.
- Assist with NMTC accounting functions, including sub-CDE audits.
- Provide support to the lending team in the management of lending compliance functions.
- Enter loans into the loan servicing software system (Portfol) and generate portfolio reports as needed.
- Manage payment processing from lending partners and borrowers.
- Assist with other portfolio management functions as directed.
- Monitor and review required NMTC compliance reporting to ensure reporting is completed on time and in accordance with all reporting requirements.
- Provide support to the lending team related to varying NMTC pipeline functions.
- Assist, where needed, to prepare PCG’s annual NMTC application to the CDFI Fund.
- Assist, where needed, to prepare any of PCG’s funding applications.
- Monitor and review compliance reporting to grantors, investors, and any regulatory agencies.
- Monitor and assist Director of Finance in compiling information required by investor covenants to ensure PCG remains on schedule and on target with all obligations.
The Accounting and Compliance Specialist should be a professional with 5+ years of experience in accounting, compliance, reporting, and office administration. The position requires a responsible, mature individual that is a self-starter, problem solver and has keen attention to detail. The Accounting and Compliance Specialist must have strong organizational skills and the ability to multi-task. Computer literacy in Microsoft Office environment is required, as well as knowledge of fund accounting software. Individual must have a bachelor’s degree in accounting, or related field, such as business or finance. Experience in the CDFI field related to general ledger management, lending or New Markets Tax Credits is a plus.
Competitive salary, excellent benefits and a pleasant, challenging work environment. PCG is an equal opportunity employer.
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