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Equity Analyst

TITLE:                                Equity Analyst
REPORTS TO:               Director of Acquisitions 
PREPARED DATE:     January 2, 2020
JOB LOCATION:         Oakland, CA

About Merritt Community Capital Corporation: Merritt Community Capital Corporation is a non-profit corporation that provides equity capital for affordable housing throughout California, revitalizing neighborhoods through construction, rehabilitation, and long-term asset management. Since 1989, the company has financed approximately 9,000 affordable homes with $900 million in equity in 21 separate funds. Given the imperative for more affordable housing in California and the state’s $500 million increased support in 2020 we anticipate expanding the organization.

Merritt offers a collaborative culture with a passionate team focused on our mission. We provide excellent benefits, including paid time off, employee/family health coverage, 401(K) contributions, commuter support and performance bonuses. To learn more about Merritt please visit

Position Summary: With a moderate to high level of supervision implements policies and procedures for acquiring, underwriting, and closing low-income housing tax-credit investments. In addition, provides a wide range of duties to support to investor relations. Success in the position may lead to rapid growth as organization expands.

Essential Duties and Responsibilities:

▪ Supports Director of Acquisitions and/or Senior Equity Analyst with underwriting tax credit investments, including completion of the following underwriting tasks: sponsorship analysis, market analysis, project financial projections, sources and uses and capital structure analysis, income and expense underwriting, and tax credit documentation analysis. As part of processing of each transaction, obtain and review due diligence materials from client, conduct site visits as needed, and participate in conference calls with the customers.

▪ Provide regular communication to Director of Acquisitions and/or Senior Analyst regarding deal underwriting progress including process checklist review, due diligence review, transaction timing, and issue identification.

▪ Assist with and attend deal closings or other client engagement opportunities.

▪ Help to complete and organize closed deal files for transition to Asset Management.

Other tasks as assigned.

Supervisory Responsibilities: This job has no supervisory responsibilities.

Education and/or Experience: Bachelor’s degree in Business, Accounting or Finance, or related field required; Master’s degree preferred. Education and/or experience in real estate finance, affordable housing and/or LIHTC program, apartment market dynamics in both urban and suburban areas, and familiarity with industry policies, issues, and programs. Strong financial analysis skill is required. 2 or more years of experience in closing real estate transactions highly preferred.

Language Skills: Very strong writing/editing skills needed to produce correspondence, reports, and persuasive writing. Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to effectively present information and respond to questions from groups of managers.

Mathematical Skills: Ability to learn and work with financial models. Ability to work with mathematical concepts such as IRR, probability and statistical inference, and business math. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

Reasoning Ability: Ability to deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

Computer Skills: Extensive Excel modeling skills required. Proficient knowledge of MS Word and Power Point a plus.

Other Skills and Abilities: Must be highly motivated, be able to work with a moderate degree of support, solve problems and possess strong written and oral communication skills. Ability to manage multiple tasks effectively under significant time pressure to meet deadlines. Demonstrated ability to work productively and accurately in a fast-paced environment with multiple projects and stringent deadlines.

Other Qualifications: May have knowledge of the regulations governing the Section 42 Low Income Housing Tax Credit program, and a general knowledge of corporate income tax policies and procedures. May have experience working for or with non-profit housing organizations, developers, investor institutions, banks, and Community Development Financial Institutions. Knowledge of the affordable housing industry in California is desirable.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this Job, the employee is regularly required to sit and talk or hear. The employee is occasionally required to stand, walk and reach with hands and arms. The employee must occasionally lift and/or move up to 15 pounds. Specific vision abilities required by this job include close vision, distance vision and ability to adjust focus.

Work Environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually