TITTLE: FINANCE INTERN
SUMMARY: INTERNSHIP OPPORTUNITY – Fall 2019 (UNPAID)
Under the general supervision of the Senior Finance Manager, provide analytic and programmatic support to the Boston Local Development Corporation (BLDC) and the Boston Industrial Development Financing Authority (BIDFA) as well as to other Economic Development programs and projects as assigned.
Note: This is an unpaid Internship
Must be a current student enrolled in a finance related baccalaureate or graduate program. Must have a working knowledge of Microsoft Excel, Word, and Access.
Assemble and prepare all relevant materials required for BLDC Board review. Compile BLDC Board packages to include: business plans, credit and financial analysis on potential borrowers or borrower’s tenants; preparation of pro forma operating statements, sources and uses of funds statements, credit reports, industry background information, collateral asset protection charts and debt service coverage analysis.
Participate in all BLDC and BIDFA Board meetings, take notes and ensure minutes are prepared. Assist in preparation of materials for distribution and presentation to each Board. May schedule Board meetings, contact board members regarding attendance and assist in development of the meeting agenda. Write board summary materials and resolutions, commitment letters and bond documents.
Assist in maintenance of the BLDC and BIDFA loan portfolios, including reviewing, updating and summarizing existing portfolio credit file documents and outstanding bond issues. May conduct site visits or contact clients by telephone or in writing to obtain information to update loan and bond files,
such as periodic financial statements, proof of insurance coverage, etc. Perform credit analysis of existing BLDC portfolio accounts and identify at risk assets. Make credit recommendations to senior staff and arrange custom workouts with troubled accounts to assist distressed borrowers and protect BLDC assets. Assemble data and prepare reports on portfolio and Corporation's activities for governmental agencies and internal use.
Prepare reports on BIDFA's portfolio of closed bonds. Service existing portfolio such as review of semi-annual employment progress reports, and monitor documentation of insurance, bondings, etc. Assist in the writing and design of informational materials for BIDFA and BLDC. Perform other related duties as required.
DATES OF INTERNSHIP PROGRAM: Fall 2019
Fall Semester full or part-time schedule available (minimum of 20 hours per week). Flexible start and end dates; schedules open to discussion based on student and employer needs.
Participants in the Internship Program should be Undergraduate students, Graduate students or recent Graduates.