Vice President, US Municipal Finance, Community Investments, Counterparty Analysis

Job Description

What is the opportunity?

RBC Capital Markets - RBC Community Investments ( or "RBCCI"), part of the Royal Bank of Canada (RBC) firm, is a leading syndicator of Low Income Housing Tax Credits (LIHTC), Historic Tax Credits (HTC) and State Tax Credits (STC), and Workforce Housing Equity Investments (WFH),

The Vice President, Counter party Analysis ("CPA") will work within the Underwriting and Asset Management Group and partner with RBC Group Risk Management to ensure transaction counter party risk is fully underwritten for all investments closed by RBCCI. This position will evaluate the financial capacity, experience, and background of counter parties (developers/sponsors, property managers, guarantors, and general contractors of multifamily affordable housing) of tax credit equity transactions.

This position reports to the Managing Director, Head of Underwriting and Asset Management with secondary reporting to the Director, Head of Underwriting and the Director, Group Risk Management.

What will you do?

* Risk Management

* Underwrite all counter parties (project developers, individual and corporate guarantors, and general contractors) to tax credit equity and workforce housing equity transactions, with presentation to RBCCI's Investment Committee and final review by Director, Group Risk Management.

* Analyze financial statements, tax returns, , and other relevant data to assess counter party risk and assign strength ratings to transaction counter parties via the application RBCCI's Counter party Risk Rating methodology.

* Maintain list of CPA due diligence and status for each investment during lower tier closing process

* Provide CPA Snapshot for all projects prior to Investment Committee and financial closing

* Manage CPA Pipeline and Database for all investments originated and closed by RBCCI.

* Manage list of transaction counter parties and strength ratings.

* Final sign off on RBCCI's 3rd party engaged background searches procured analyzed by the Transaction Review, Associate.

* Anti-Money Laundering (AML) / KYC

* Update CPA Pipeline and CPA Database to reflect KYC/AML status

* Originations Management Support

* Primary responsibility for each lower tier transaction to underwrite deal specific counter parties.

* Support the Originations Management Group effort to service existing and new developer relationships.

* Provide periodic training to Underwriting and Asset Management on the CPA analysis and process

* Originations and Syndication & Investment Services Support

* Work in conjunction with Originations and Syndications and Investment Services staff to understand the evolving needs of our equity investors to further improve the underwriting and lower tier closing process and facilitate efficiencies during the upper tier closing process.

* Respond to investor CPA questions and issues during the upper tier closing process.

* Asset Management

* Underwrite general partner/guarantor replacement candidates as needed in existing portfolio and ensure acceptability.

* Be proactive with Asset Management staff by involving them early during lower tier closing process, and utilize Asset Management as an additional internal resource to identify potential asset and property management issues/concerns related to the deal structure or sponsor.

* Provide periodic training to Asset Management staff on the CPA analysis and process

Risk Assessment Framework Proactively identify operational risks and control deficiencies within RBCCI

* Review and comply with Firm Policies applicable to RBCCI activities

* Escalate operational risk loss events, control deficiencies and risks that you identify to your line manager and the relevant risk and control functions on a timely basis.

What do you need to succeed?

* Candidate must possess a bachelor's degree in accounting or finance with a minimum of five years of relevant experience, preferably within multifamily real estate or LIHTC/WFH investments

* Previous experience in real estate investment transactions, credit risk management, tax credit syndication or a large accounting firm is required.

* Proficiency in MS-Outlook and MS-Office applications, along with excellent organizational, verbal and written communication skills, are essential.

Other

Required Qualifications:

* Strong organizational skills and ability to manage numerous priorities within a fast-paced environment where adherence to client needs and closing deadlines is imperative.

* Participation in AML/KYC calls on all projects

* Work product is reviewed by Underwriting, Investment Services and Director - Group Risk Management.

* Projects require high attention to detail, organization skills and ability to manage shifting priorities.

What's in it for you?

* We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is…