Associate, Loan Fund Accounting

Position Reports to: Senior Director, Treasury 

Location: Fully remote, with a preference for candidates within commuting distance to NFF’s New York, Philadelphia, or Boston offices. Fully remote locations, including Los Angeles and Oakland, will also be considered. 

Department: Finance

The COVID crisis and the uprising for racial justice have shone national light on both the urgent work required to build a more just and vibrant society for all Americans and the potential for positive action when our communities mobilize. In most cases, these efforts are spearheaded by nonprofits, community organizations, and their heroic staff who deliver essential services like affordable housing, social justice advocacy, health, youth development, and the arts. Yet these nonprofits and the communities they support operate within a flawed, inequitable funding system that controls their access to resources, impeding their ability to make a difference.  

Nonprofit Finance Fund (NFF) is setting out to change that. We know that nonprofit leaders have power when they have access to capital and financial knowledge. Our strategy focuses on helping to shift that power by changing funding and financing practices so more money flows equitably and with less restriction to community-centered organizations led by and serving people of color, so they can be the drivers of their own change. 

Read about our commitment to Diversity, Equity, and Inclusion here. 

About the Opportunity: 

We are seeking a motivated and collaborative Associate, Loan Fund Accounting to join the Finance team at NFF. This is an exciting opportunity for an accounting professional who wants to apply their skills to one of the largest and most well-established Community Development Financial Institutions (CDFI) that is growing its $200 million portfolio of loans to mission-driven organizations. NFF’s Finance team is responsible for the organization’s financial strategy, accounting and tax functions, controls, financial planning and analysis, treasury function, and capital raising. 

The Associate, Loan Fund Accounting, supports the Finance and Loan Servicing teams by ensuring the accurate tracking and reporting of a diverse portfolio of loans receivable and related financial activities. This role is responsible for recording all transactions related to loans receivable, which includes disbursements, payments, and interest accruals. Additionally, the individual will maintain the general ledger and ensure that all accounts are reconciled, preventing discrepancies and facilitating smooth operations.  

With the guidance from the Senior Director of Treasury, the Associate will advise on NFF’s loans receivable when collaborating with other departments to ensure compliance, promote transparency, and achieve financial goals. The Associate, Loan Fund Accounting will work collaboratively with the Finance, Financing, Operations, and Investor Relations departments to inform them on the dynamics and health of NFF’s portfolio.  

The position can be based remotely, with a preference for candidates near our New York, Philadelphia, or Boston offices. There is potential for up to 5% travel for local/national conferences, all-staff meetings and department retreats.  

The Associate, Loan Fund Accounting will report to the Senior Director, Treasury who is based in New York. 

What you’ll do: 

Loan Fund Accounting & Analysis  

• Maintain portfolio schedules for all NFF loan portfolios, which can be relied upon as the ”source of truth” for other reporting as needed by the enterprise.   
• Manage the loans receivable monthly closing process, which ties NFF’s general ledger and bank account transactions to portfolio schedules and NFF’s loan management system (LMS).  
• Prepare monthly, quarterly, and annual reports and account reconciliations specifically related to NFF’s loan portfolios.   
• Generate and analyze reports from LMS on principal and interest remittances, monthly interest accruals, interest capitalizations, etc., reconciling with the general ledger and portfolio schedules. 
• Review principal and interest cash remittances and maintain loan delinquency journals, working with the Loan Servicing Department to identify any missing payments and research and resolve discrepancies.  
• Review daily deposits from NFF’s bank accounts online and log loan principal and interest payments into the LMS and accounting software with support of Manager, Loan Servicing.  
• Serve as an expert on NFF’s LMS and collaborate with team members and Operations staff on system and process improvements.  
• Support the Senior Director of Treasury with updates to the loan portfolio forecasting model, projecting multiple scenarios for future portfolio balances and revenue.  

Loan Servicing 

• Ensure incoming participant remittances and disbursement wires to participants are performed accurately and in a timely manner compliant with respective participation agreements.  
• Ensure ACH borrower list is accurate by reviewing documentation and verifying banking information for lending clients who have authorized automatic payments.  
• In partnership with the Manager, Loan Servicing, initiate semi-monthly, monthly, and quarterly ACH payment process for all authorized automatic loan transactions.   
• Assist Manager and Senior Director, Loan Servicing in providing remittance reports, audit confirmations, and payoff letters to clients and partner lenders.  
• Research and resolve complex issues related to loan portfolio accounting and servicing to support NFF’s portfolio management team and clients within scope of authority and expertise.   
• Build relationships with and understand the priorities of the Financing team by engaging team members and attending team meetings.  

Other Finance & Accounting Duties 

• In support of the Senior Director of Treasury, generate in-depth financial data, maintain schedules, compile and submit reports, analyze portfolio trends, and assess the financial health of the enterprise specifically related to NFF’s lending practices and loan portfolios.  
• Support NFF’s audit led by the CFO, VP of Finance/Controller, and Senior Director of Treasury, with emphasis on items related to NFF’s loan portfolio accounting.  
• Partner with other Finance members on rotating support for ongoing, repeatable tasks, such as execution of wire transfers.  

Who you are:  

• You have a minimum of 1 year of experience preferably in loan servicing or accounting at a commercial bank, credit union, or CDFI; other relevant work or intern experience will be considered 
• You have a basic understanding of financial and accounting principles 
• You are proficient with Microsoft Office Suite with high proficiency in Excel 
• You are comfortable working independently, within a highly collaborative team, and across an organization with multiple departments and varying communications needs 
• You are highly organized and possess strong analytical skills to interpret financial data effectively 
• Strong relationship-building approach with the ability to center the needs of clients, partners, and communities  
• You are a self-starter who takes ownership and demonstrates accountability  
• You are flexible, adaptable, and willing to pivot on short notice to meet the organization’s needs   
• Ability to move thoughtfully through priorities with great attention to detail  
• Possess excellent verbal and written communication skills and interpersonal skills   
• Committed to continuous improvement and demonstrate a growth mindset 
• You embody NFF’s mission, core values and commitment to equity 

Compensation: 

At NFF, we are invested in discussing the depth and breadth of each candidate’s background and experience during the interview process and using that information to determine the best offer while considering internal pay equity. The salary range for this position is $68,000-$70,000. If provided an offer, NFF will determine salary compensation based on relevant skills and years of experience. NFF also takes into consideration internal equity in setting salary bands for each role. NFF provides an attractive benefits package that currently includes up to 18 paid holidays, 3 floating holidays, unlimited vacation time off, health insurance with NFF funded health reimbursement account on medical plan, and employer match and non-match contributions toward retirement plan. In addition, NFF provides flexibility to work remotely and access to a “work from home” fund, and flexible spending accounts including medical, commuter, and childcare benefits.   

Please Note: 

Applicants must be authorized to work for any employer in the U.S. We do not currently sponsor for immigration or work permit applications. 

All salaries are commensurate with experience and include an attractive benefits package. 

Nonprofit Finance Fund is committed to diversity, equity, and inclusion in its workforce. We encourage candidates that will help us live out this commitment to apply. 

NFF is an equal opportunity employer and does not discriminate against any applicant or employee because of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, genetic information, age, or military or veteran status in accordance with federal law. In addition, NFF complies with applicable state and local laws governing non-discrimination in employment in every jurisdiction in which it maintains facilities. NFF also provides reasonable accommodation to qualified individuals with disabilities in accordance with applicable laws. If you require assistance and/or accommodation to use our online tools to search and/or apply for jobs, please contact [email protected]. We would be happy to work with you. 

This job posting provides a general list of the essential responsibilities and qualifications required for this position. It does not represent a contract for employment and NFF reserves the right to change the description and/or posting at any time without notice. 

When applying, please DO NOT include any of the following information with your job application: Social Security number; driver's license number or state-issued identification card number; financial account number, or credit or debit card number.