LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. LISC works with residents and partners to close gaps in health, wealth, and opportunity so that people and places can thrive. We do this by acting as a conduit for grants, loans and equity—and by providing technical assistance and capacity building—to locally rooted organizations that carry out the work in communities.Position SummaryThe Fund Manager, Commercial Real Estate role resides within the Fund Management & Finance team and is responsible for overseeing the financial management, reporting, and operational performance of designated impact investment funds, including place-based affordable housing vehicles.Reporting to the Director, Fund Management, the Fund Manager is accountable for fund-level financial reporting, fund performance and analysis, capital management, investor communications support, and coordination across internal teams to ensure disciplined execution throughout the fund lifecycle. The role works closely with other LFM departments: Fund Investments & Asset Management, Fund Design & Marketing (specifically Investor Relations) and with LISC departments including Legal, Compliance, and LISC shared services to support accurate reporting, regulatory compliance, and fund performance transparency.The Fund Manager leads preparation of quarterly and annual financial statements, oversees capital call and distribution processes, monitors fund expenses and budgeting, portfolio level inputs, and supports investor reporting and board materials. The position requires strong financial analysis capabilities, comfort working with complex real estate investment structures, and the ability to interpret portfolio performance within the context of fund strategy. The Fund Manager contributes to maintaining LFM’s track record of financial discipline, transparency, and responsible stewardship of investor capital.ResponsibilitiesFund Financial Management & ReportingCapital Management & Cash Flow OversightInvestor Reporting & Stakeholder CoordinationFund Operations, Compliance & Cross-Functional StrategyTeam Management and DevelopmentBuild, maintain, and regularly update financial models for assigned funds, incorporating actual fund performance, investment activity, capital deployment, repayments, expenses, cash flows, and other relevant assumptions to forecast fund performance through the end of the fund term.Use fund models to evaluate projected liquidity, deployment pacing, investor returns, management fees, and other key financial outcomes; identify variances from plan and recommend adjustments as needed.Review and approve quarterly and annual financial statements, investor reports, CECL impairment, and performance analysis for assigned funds, ensuring accuracy, completeness, and compliance with fund governing documentsAnalyze fund-level performance, including income statements, balance sheets, capital accounts, and portfolio returns. Present quarterly overview of fund performance to executive leadership and LISC Finance.Monitor and manage fund-level expenses, budgeting, and forecasting in coordination with Finance and shared servicesOversee calculation and payment of management fees and other fund-level obligationsSupport preparation of impact and performance reporting materials in coordination with Investor Relations and Asset ManagementManage capital call and distribution processes, including reconciliation of construction draws, pipeline timing, and fund liquidityMonitor portfolio cash flows and coordinate with Asset Management and Investments to ensure alignment between deployment and fund capacityMaintain oversight of fund models to assess performance trends, validate assumptions, confirm model outputs, and disseminate key findings to investors and senior leadershipReview and validate capital account activity and investor allocationsIdentify and elevate potential fund-level risks related to liquidity, timing, or portfolio concentrationContribute to preparation of investor decks and reporting materials in collaboration with Investor RelationsSupport investor meetings by preparing analysis and responding to fund-specific inquiries. Present on fund financial performance, outlook, and fund strategy in investor meetings.Ensure timely dissemination of quarterly and annual reports to investorsCollaborate with Investor Relations to maintain strong transparency and communication with fund stakeholdersCoordinate closely with Investments, Asset Management, Legal, Compliance, and LISC shared services to ensure timely and accurate documentation and reporting in compliance with legal agreements, regulatory requirements, and LFM policiesDevelop, maintain, and contribute to continuous improvement of fund management processes, policies, systems, and reporting toolsCollaborate on overall fund strategic direction for assigned funds, including cash management, distribution, fundraising, and investment allocation and structuring decisionsSupervise and manage a Financial AnalystEnsure proper workload distribution and resource allocation across funds and LFM functionsProvide ongoing performance feedback and foster professional development opportunitiesBachelor’s degree in Finance, Economics, Business Administration, Accounting, or related field required; CFA, MBA, MPA, or other relevant advanced degree preferredMinimum 6 years of experience in fund management, private equity, real estate investment management, financial services, or community development financeDemonstrated experience managing fund-level financial reporting, capital accounts, capital calls, and investor reporting processesStrong understanding of real estate investment structures and fund economics, including waterfall calculations, capital allocations, and fee structuresExperience working with affordable housing, impact investment funds, or place-based real estate vehicles preferred; familiarity with LIHTC, HTC, or NMTC preferredAdvanced proficiency in Excel, including financial modeling and complex reconciliation; experience with fund accounting or financial reporting systems requiredStrong analytical and problem-solving skills, with the ability to interpret financial performance in the context of fund strategy and investor expectationsStrong written and verbal communication skills; experience coordinating across investments, asset management, legal, compliance, and finance teams; ability to manage multiple deadlines, exercise sound judgment, operate independently, and maintain commitment to mission-driven, impact-oriented investment objectivesQualificationsThe position fits within the Fund Management team’s structure by reporting to the Director, who reports to the Vice President of Fund Management and Finance, who reports to the President. This role does not duplicate finance, underwriting, originations, or legal functions. Expectations are consistent with a more advanced fund management role level across LISC Fund Management, but not quite at a Director level.CompensationLISC offers a competitive salary ($127,685-$159,606) and excellent fringe benefitOur benefits include:LISC does not discriminate in employment on account of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, lactation and related medical conditions), gender identity or expression (including transgender status), sexual orientation, marital status, military status or veteran status, unfavorable discharge from military service, physical or mental disability, protected medical condition as defined by applicable state or local law, genetic information or any other characteristic protected by applicable federal, state or local laws and ordinances.
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