Vice President, Fund Manager, US Municipal Finance, Community Investments

Job Description What is the Opportunity?

RBC Capital Markets – Community Investments (), part of the Royal Bank of Canada (RBC) family, is a leading national syndicator of State and Federal Low Income Housing Tax Credits (LIHTCs) and Historic Rehabilitation Tax Credits (HRTCs). The Fund Manager will manage a portfolio of LIHTC Investment Funds.

• Investor Relations focus:
• Develops business rapport with Investor client staff that supports long‑term business relationships by providing both financial expertise and market‑relevant reporting.
• Collaborates with Syndications team to provide the highest quality customer service to Investors.
• Initiates communication with RBC Investors, with an emphasis on:
• responding to inquiries as they pertain to property operations/performance and Fund‑level tax returns and audits, and
• soliciting feedback on reporting requirements and presentation preferences to create and develop reporting that adds value to relationships.
• Leads preparation and presentation of portfolio reporting/pitch books in collaboration with syndication team.
• Accounting/Technical focus:
• Exceeds Investor expectations/requirements as it pertains to the timely and accurate delivery of all reports, audits, tax returns and K-1’s.
• Manages an Investor portfolio that provides an analysis on the current performance and future projections of individual properties.
• Provides financial analysis assistance to the Asset Management team as it pertains to property operations and overall performance.
• Develop and strengthen knowledge of GAAP accounting, partnership taxation and Section 42 LIHTC program to maximize value to the Company as well as Investors.
• Fund Level (Upper Tier) Audit and Tax Return Delivery to Investor:
• Preparation of and review of work papers that roll the lower tier tax return data into a Fund Level tax return.
• Manage the completion and delivery of Fund level audits and tax returns to Investors through communication with external auditors.
• Discussion with Asset Management/General Partners on issues affecting accurate reporting of tax returns and audits, usually as it relates to tax credits and losses.
• Fund Level Quarterly Investor Benefit Report:
• Review of quarterly Investor report detailing the loss (upper & lower tier) and credit benefits projected to be delivered to the Investor on an annual basis. Report data/documentation is derived from compilation of property level quarterly financial reports, property narrative and/or watch list reports provided by Asset Management.
• Investor Portfolio Review:
• Bring original fund summary model up‑to‑date through the insertion of final/draft tax return and audit data into the final model for all previous years of operation.
• Analysis of current property operations as they relate to historical trends, and as a result, develop analysis of projected future property operations.
• Determine the current Internal Rate of Return (IRR) on the Investor’s investment at Fund level, which is derived from the tax credit and loss benefit analysis, and a result of:
• Preparation of Federal, Historic and/or State tax credit benefit analysis, and
• Preparation of Net Operating Income/Loss benefit analysis.
• Preparation of the portfolio book detailing Investor benefit analysis through use of data, charts/graphs and text.
• Extracting data that is critical for the compilation of property capital account analysis, actual/projected Investor benefits (losses and credits), and overall Fund performance summaries.
• Accounting Functions:
• Analysis of Capital Account as it relates to capital account balance, minimum gain recognition and the potential for reallocation of loss resulting from capital account depletion.
• Provide assistance and knowledge as it relates to methods by which Funds can maintain capital through reallocation of loss with the objective of preserving tax credits and/or losses for the Investor.
• Review of monthly Fund level general ledger for purposes of the accuracy in general ledger entries, as well as for updating of the Fund level capital contribution schedule, which is a component of the quarterly Investor report.
• Review and approval of capital contribution funding requests in a…