Careers

Evernorth’s staff are skilled, knowledgeable, and committed to developing high quality affordable housing and enabling investments in economic and community development to benefit all northern New Englanders and the communities where they live. Working in partnership with the nonprofit, business, and public sectors, our staff looks for opportunities to maximize our capacity to create positive change.

Evernorth appreciates that its principal asset is its talented staff. We offer a comprehensive and competitive compensation and benefits package to attract and retain members of our team. 

Evernorth has offices located in Burlington, Vermont and Portland, Maine. 

Evernorth is committed to a diverse and inclusive workforce and is an equal opportunity employer.

Current job openings are described below:


1. Community Investments Closing Manager

Evernorth currently has two open positions within its Community Investment team. The Community Investments Closing Manager has the primary responsibility for organizing and managing closings for Low Income Housing Tax Credit (LIHTC) and New Markets Tax Credit (NMTC) transactions, performing a critical role as the liaison between our development partners, Evernorth staff, financing partners, and LIHTC equity investors.

The ideal candidate will have a bachelor’s degree and/or paralegal training, and 3 years of recent experience supporting real estate transaction closing. Key competencies include project management, prioritization, interpersonal skills, solution-oriented problem solving and promoting the mission of Evernorth to its partners and the public.

The two positions can be based in either Portland, ME or Burlington, VT.

We believe in equal access to affordable housing and economic opportunities; the power of partnerships based on integrity, respect and teamwork; and a collaborative workplace with professional, skilled and dedicated staff.

To apply, please send a cover letter and resume to Julia Morgan, HR@evernorthus.org.

Evernorth is an equal opportunity employer.


SPECIFIC RESPONSIBILITIES:

The Community Investments Closing Manager is responsible a broad array of tasks related to the syndication of LIHTC and NMTC projects:

Pre-construction loan closing responsibilities:

  • Schedules and leads all assigned real estate closing calls; takes closing call notes and informs involved Community Investment, Capital Management, and Asset Management staff on closing issues. 
  • Prepares, updates, and circulates due diligence checklists and handles documentation tracking for all assigned investment closings; coordinates due diligence checklist requirements and approvals/sign off with Community Investment Officers, Director of Underwriting, external regulators, and funding partners.
  • Quality control review of partnership closing documents to verify and ensure closings are in compliance with Investment Committee approvals, LOI, and underwriting requirements; reviews and approves required insurance coverages, title/survey, zoning, permitting, and reliance letters.
  • Coordinates the wiring of capital funding for all capital calls with the Capital Management department.
  • Acts as a liaison and coordinates submittal of due diligence items between Evernorth and proprietary investor partners.
  • Coordinates internal signature packages, scans, and circulates PDFs and original executed closing documents.

Post-construction loan closing responsibilities:

  • Proactively manages delivery of post-closing items from counterparties, to include documents and/or closing binders; keeps electronic transaction files within internal SharePoint document file management system organized and complete.
  • Provides the hand off between Evernorth departments and project sponsor team.
  • Assists Capital and Asset Management departments with post-closing related amendments.
  • Works with Evernorth staff to maintain and report a schedule of capital call dates for projects in construction.

Non-closing responsibilities:

  • Manages the investment committee process, including scheduling, note taking, and circulation of investment committee packages.
  • Advises on departmental goals, capacity, planning, and processes with Department staff.
  •    Uphold corporate principles of respect, service, value, and partnership.
  • Perform other tasks as required by Evernorth management.

SUPERVISES:   None

EDUCATION, LICENSES AND/OR CERTIFICATIONS REQUIREMENTS:

  • Bachelor’s degree and/or Paralegal training or certificate.
  • Valid Driver’s License.
  • Criminal background check.

JOB KNOWLEDGE AND EXPERIENCE:

  • Three years of recent experience supporting real estate transaction closings.
  • Strong understanding of real estate loan or investment due diligence and closing processes as it relates to the LIHTC or NMTC.
  • Demonstrated ability to organize, coordinate, and manage processes and documents while considering the needs and expectations of different client groups, including developers, investors, lenders, and internal partners.
  • Affordable housing, community development, or business investment or loan closing experience is strongly preferred.  
  • LIHTC or NMTC experience and familiarity with legal documents used in tax credit syndication strongly preferred.  
  • Proficiency in Microsoft Office products required – Excel, Word, OneNote, SharePoint, Teams, and Outlook.

JOB ESSENTIAL SKILLS:

  • Excellent written and verbal communication skills with active listening skills.
  • Ability to work effectively with a variety of people in different positions and locations by phone, video, email, and in person.
  • Excellent organizational skills and ability to prioritize and complete tasks under time constraints and balance multiple transactions with many parties, at different stages concurrently.  
  • Self-starter with the ability to work in a fast paced environment with a large degree of autonomy.
  • Ability to read and understand syndication, finance, insurance, and title/survey documents.
  • Attention to detail and ability to proofread documents for numbers, spelling, and grammar.
  • Ability to work in a team environment between different physical office locations.
  • Ability to be focused and flexible to respond quickly to shifting work priorities.
  • Commitment to the community and mission of Evernorth.



2. Vice President of Capital Management

The VP of Capital Management is responsible for managing the flow of funds from funders and investors into tax credit investments and funds dedicated to lending activities.  The position is responsible for ensuring that the equity and loan fund objectives are being met, including managing risk and cash flow, achieving target yields and returns, and maintaining relationships with funders.  The position oversees all CDFI Fund program compliance and equity fund management operations including accounting, data analytics, financial modeling, and investor reporting.  The position is responsible for fund formation, manages interdepartmental coordination, capital flow, compliance, reporting and provides overall support for investor relations. Key competencies for the position include high level skills in accounting, financial management, analytics, communication, and the ability to lead and manage.

Reports to:                         Chief Financial Officer

Supervises:                         Capital Management Coordinator, Capital Management Officers

Primary Office:                 Portland

Representative Responsibilities

Fund Development

  • Collaborate with Co-Presidents and others to build and maintain relationships with funders.
  • Primary liaison with funders and third-party professionals to organize documentation associated with the creation of new equity funds including PPM, LPA and investment criteria, among others.
  • Responsible for coordinating fund marketing material with the Director of Communications and supporting the development of materials and information for the web site, news stories or other marketing focused on funders.
  • Facilitate interdepartmental integration and optimization of data systems and applications used in financial management.

Equity Fund Management and Accounting

  • Coordinate sources and uses with the VP Community Investments
  • Ensure the data integrity of investment information, with focus on integration and functionality of lower tier and upper tier LIHTC financial models
  • Working with external consultants to oversee NMTC CDFI Fund and investor compliance, financial reporting, and other required reporting
  • Manage fund investment results, which includes maintaining fund models, reviewing and reconciling current and projected tax credits, losses and cash distributions on the fund level
  • Overall responsibility for coordinating equity fund milestones
  • Monitor fund reserves, coordinate quarterly investor capital installment requests
  • In coordination with VP of Lending manage bridge loan facilities
  • Oversee annual review and approval of tax returns and audits, ensure that financial models are updated accordingly; manage accounting for equity funds and NMTC projects including distributions to investment funds
  • Manage consents and waivers for investments, the disposition of assets and dissolution of LIHTC funds and NMTC investments

Loan Fund Management and Accounting

  • Establish and maintain policies and procedures for loan fund management and accounting; including, including financial statement preparation and associated supporting schedules
  • Oversee loan fund servicing and report on loan portfolio quality, asset growth, earnings, liquidity, and sensitivity considerations for managing risks
  • Ensure timely and accurate reporting to satisfy funder requirements, CDFI certification, and AERIS rating review
  • Prepare monthly loan fund cash flow projections and capital deployment reports

External Relationships with Funders

  • Coordinate data collection for sponsor reviews and annual due diligence requests
  • Direct and assist in creation and submission of required reports to funders for LIHTC and NMTC investments and loan funds
  • Provide miscellaneous reports for funders, Board, staff and others as needed

Senior Leadership, Team & Culture

  • Participate in senior management team strategy, cross departmental collaboration and organizational leadership
  • Support education and outreach internally and to external partners on matters related to funders concerns and market changes
  • Participate in associations and organizations to strengthen Evernorth’s industry relationships
  • Maintain high standards of confidentiality and professionalism
  • Uphold corporate principles of respect, service, value, and partnership
  • Carry out other duties as assigned

Work Environment

This position involves extensive interaction with the Co-Presidents, CFO, Community Investments, Lending and Asset Management staff, Board members, and external parties. It requires prolonged use of computer technology within an office setting. Travel within New England and to other locations nationally for conferences and other purposes is necessary from time to time, and it may be necessary to attend meetings outside of traditional office hours.

Education, Experience, & Competencies

Required

  • Bachelor’s degree in Accounting or Finance
  • 10 years progressively responsible financial leadership roles, preferably in financial services industry
  • High level knowledge of audit and tax compliance and other regulatory matters
  • Proficiency in computer applications, including Office 365 and financial management systems
  • Superior financial management skills
  • Excellent organizational skills, attention to detail, and proven success in staff management

Preferred

  • CPA or master’s degree in Business Administration, Accounting, or related field
  • 3 to 5 years of LIHTC and/or CDFI experience

Evernorth is an Equal Opportunity Employer actively encouraging and supporting organization-wide involvement of staff in diversity, equity, and inclusion efforts to educate, inform and advance both internal practices and external work with diverse client populations.