CIC Asset Manager III

• Manage a portfolio of closed debt and equity investments
• Analyze and timely report on asset performance
• Recommend timely action on customer requests
• Assess and report asset quality indices to Management and Credit
• Manage complex matters independently and mentor less experienced Asset Managers
• Develop and maintain relationships with General Partners/developers, management agents, lenders, contractors, accountants, third-party consultants, and others
• Structure action plans, obtain investor and/or credit approval, and ensure correct implementation
• Preserve investor value, reduce risk of loan loss, and maintain compliance with current tax law and affordable housing regulatory requirements
• Assess project and partnership compliance with LIHTC and HTC provisions, partnership agreements, loan documents, operational benchmarks, and financial covenants
• Identify and report risk factors that could result in non-compliance
• Complete monthly, quarterly, and annual reporting activities, including operating performance and asset quality index reviews
• Manage collection of priority returns and asset management fees
• Review, analyze, and report on financial statements and tax returns against original cash flow and debt service coverage projections
• Review and comment on partnership tax returns to ensure expected tax benefits are properly claimed
• Confirm CPA firm engagement and track deliverables annually
• Evaluate annual budgets and property operating budgets against projections
• Monitor and analyze construction and lease-up progress, tax benefit delivery, and rates of return
• Review construction draws, change orders, architect and inspector reports, construction schedules, leasing and traffic reports
• Identify and report issues affecting risk profile, investment return, tax benefits, stabilization, permanent loan conversion, and equity/grant/sub-debt pay-ins
• Review capital calls from developers/GPs
• Ensure performance benchmarks and partnership-agreement documentation requirements are met
• Calculate annual tax credits from final cost certifications/8609s and first-year tax credit delivery from actual lease-up figures
• Prepare final upward or downward capital adjustments under partnership agreements
• Perform periodic property site inspections
• Monitor regional and local economic and demographic trends within portfolio markets
• Provide site visit reports and follow up on findings
• Evaluate asset physical condition and future capital needs

• Bachelor's Degree
• 12+ years of Tax Credit investment experience with focus on asset management preferred
• Strong understanding of Tax Credit investments and associated legal/regulatory environment, limited partnership agreements and loan documents with focus on guarantees and security
• Strong analytical and problem-solving skills commensurate with experience, with careful attention to detail
• Demonstrated experience forming and presenting data driven conclusions to Credit Administration and other internal stakeholders
• Proven track record of working successfully with clients, team members and management
• Strong time management and organizational skills
• High level of emotional intelligence in a division undergoing change
• Advanced degree or certification (e.g., JD, MBA, CPA, CFA, etc.) or equivalent experience
• Strong experience with LIHTC, and reasonable exposure to HTC and NMTC preferred
• Relevant real estate experience with focus on asset management
• Prior experience working for a national tax credit syndicator is a plus
• Understanding of bank's credit profile, credit policies, and risk management objectives commensurate with experience

Demonstrates expertise in managing a portfolio of Tax Credit investments, with a strong focus on asset management, compliance with regulatory requirements, and financial analysis. Proven ability to mentor team members and effectively communicate with stakeholders while preserving investor value and reducing risk.

• Tax Credit Investment Management
• Asset Management
• Financial Analysis
• Regulatory Compliance
• Mentorship

• Asset Performance Analysis
• Financial Statement Review
• Tax Return Analysis
• Budget Evaluation
• Risk Assessment
• Construction Monitoring
• Data-Driven Reporting
• Capital Adjustment Calculation
• Compliance Assessment
• Investor Value Preservation

• Analytical Skills
• Problem-Solving Skills
• Time Management
• Organizational Skills
• Emotional Intelligence

• Bachelor's Degree
• Advanced Degree (JD, MBA, CPA, CFA)

• LIHTC
• HTC
• NMTC
• Limited Partnership Agreements
• Loan Documents
• Credit Policies
• Risk Management
• Affordable Housing Regulations
• Investment Returns
• Tax Benefits