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New Markets Tax Credit Compliance Manager

200609BR
Commercial Banking
Greenville, SC
July 10, 2018

Company Overview

About TD Bank, America’s Most Convenient Bank®

TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.

TD Bank, America’s Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD”. To learn more, visit www.td.com.

Job Description

The TD Community Development Corporation NMTC Compliance Manager ensures that TDCDC is in full compliance with all regulations set forth by the CDFI Fund for the NMTC program and all TD Bank corporate governance and credit policies. The TD Community Development Corporation New Markets Tax Credit (NMTC) Compliance Manager is responsible for the asset management of TDCDC’s portfolio, including, but not limited to, sourcing, underwriting, structuring, closing, boarding and servicing all new and existing TDCDC investments.

Requirements

•Qualifies and screens potential projects that are sourced by the President/Sales Marketing Directors.
•Manages the NMTC application process (150 pages on an annual basis for NMTC funding (previously completed by external attorneys)
•Engages 481 Corp. and Community Capital Group as necessary.
•Approves closing documentation for program compliance and reporting requirements
•Manages the booking details to proper booking in the Shaw system by the CLS team.
•Manages the loan operations process to ensure proper booking and assists with the setting up “participation” records on serviced deals as needed
•Manages the accounting process to ensure proper tax and accounting treatment of each loan booked.
•Manages the financial management reporting process to ensure proper treatment of each NMTC investment.
•Reviews closing documentation for program compliance and reporting requirements.
•Assists CLS with booking details to ensure proper booking in the Shaw system.
•Coordinates with loan operations to ensure proper booking and assists with setting up “participation” records on serviced deals as needed.
•Coordinates with accounting to ensure proper tax and accounting treatment of each loan booked.
•Coordinates with financial management reporting to ensure proper treatment of each NMTC investment.
•Monitors the timing of investments to ensure compliance with tax credit regulations.
•Completes various NMTC compliance documentation for files, including but not limited to, Flex Terms Documentation, Community Benefit Analysis Form and LIC Worksheet.
•Monitors loan and servicing fee payments.
•Ensures accurate filing of all paperwork in loan files and eRoom.
•Manages and completes reporting to regulatory agencies, including quarterly and annual web based transaction compliance and maintenance of paper files in accordance with Policies and Procedures.
– Quarterly ARRA Report to CDFI Fund for 2009 Allocation
– Annual Transaction Level Report to CDFI Fund
– Annual Institution Level report to CDFI Fund
– Tax Return of CDE to CDFI Fund
•Engages tax advisors to complete Subsidiary CDE tax returns and reviews for accuracy.
•Coordinates with Corporate Tax and Accounting to prepare annual TD Community Development Corporation tax return and reviews for accuracy.
•Completes Certification of Material Event Forms as needed.
•Coordinates with lender, accounting, and tax advisors as appropriate.
•Coordinates with the collection of financial records from customers to ensure compliance with loan documentation as well as program compliance.
•Collects and files Annual Borrower Questionnaires and Compliance Certificates from all customers.
•Follows up with clients to track reporting for loan agreement and program compliance.
•Procures qualified equity investments as each project is closed.
•Prepares marketing material, call presentations, etc.

Qualifications

•4 Year Degree or equivalent experience
•Three to ten years of investment or lending experience needed
•Strong knowledge of tax credit investment programs and related state and federal regulations, including CRA, IRS, New Market Tax Credit (NMTC) and other regulations.
•Strong understanding of commercial business development techniques and credit decisions.
•Knowledge of commercial lending practices.
•Strong credit and financial analysis skills.
•Experience building strong business relationships both internally and externally.
•Successful negotiation experience.
•Excellent overall communications skills, with ability to work with a wide range of people.
•PC skills

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Inclusiveness

At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live in and serve, and creating an environment where every employee has the opportunity to reach her/his potential.

If you are a candidate with a disability and need an accommodation to complete the application process, email the TD Bank US Workplace Accommodations Program at USWAPTDO@td.com . Include your full name, best way to reach you, and the accommodation needed to assist you with the application process.

EOE/Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity.