Associate, Stabilized Asset Manager,, Minneapolis, MN

Overview

Assess project and partnership risk factors concerning compliance with Section 42 of the Low-Income Housing Tax Credit (LIHTC) provisions, partnership agreements, loan documents, Land Use Restriction Agreements (LURAs), Qualified Allocation Plans (QAPs), and tax credit applications. Calculate the annual tax credit amount based on final cost certification and Form 8609s and determine the first-year credit delivery using actual lease-up figures. Manage the disbursement of equity for the assigned portfolio.

Provide oversight of projects by analyzing performance data on a monthly, quarterly, or annual basis, as applicable. Conduct detailed workup analyses to prepare asset-specific Risk Management Plans and Loss Mitigation Plans for higher risk-rated assets. Communicate relative risks and develop plans to mitigate them to protect the investment. Recommend strategies to resolve financial, real estate/LIHTC compliance, and ownership issues related to assets.

Complete annual property inspections or more frequent inspections as needed. Expedite the receipt of financial and operational information from lower-tier partnerships on a monthly, quarterly, and annual basis. Initiate communication with General Partners to ensure timely submission of tax returns and audits. Review the annual operating budget for each property within the portfolio. Communicate issues that may place a project at risk to leadership and develop an action plan to mitigate risks.

Assist with the disposition of assets at the end of the affordable housing tax credit period or during other dissolution events. Participate in team initiatives. Maintain a thorough and up-to-date record of property activity and document management in the database. Stay informed about regional and local economic and demographic trends within portfolio markets. Develop and maintain relationships with General Partners, management agents, lenders, contractors, third-party monitors, investors, local and state housing agencies, and other stakeholders in the LIHTC industry.

• 100% telecommuting permitted; candidate may reside anywhere in the U.S.
• Full-time employment, Monday - Friday, 40 hours per week.
• RBC compensation references and related pay components as described in the listing.

• Must have a Bachelor's degree or foreign equivalent in Business, Finance, Real Estate, Accounting or a related field and 5 years of progressive, post-baccalaureate work experience in real estate, accounting, finance, or property management.
• Must have 5 years of experience in performing detailed financial analyses, including calculating tax credits and preparing financial reports, as demonstrated through the successful management of a portfolio exceeding $450 million.
• Must have 2 years of experience in:
• Preparing and presenting comprehensive performance reports to investors, with experience analyzing performance data on a monthly, quarterly, or annual basis, specifically in the LIHTC or affordable housing sectors.
• Providing oversight of the portfolio by assessing project and partnership risk factors concerning compliance with LIHTC provisions and related tax programs.
• Ensuring compliance with requirements related to LIHTC, Section 42, and partnership agreements, with experience handling at least 50 tax credit projects.
• Coordinating and completing annual property inspections for a minimum of 50 properties, with a focus on identifying and mitigating physical and operational risks.
• Domestic travel required up to 40%.

The base salary for this job is $136,469 per year. This salary does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.

TO APPLY:

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Job Skills

• Adaptability
• Critical Thinking
• Customer Service
• Detail-Oriented
• Financial Engineering
• Financial Statement Analysis
• Investments Analysis
• Personal Development
• Personal Initiative
• Teamwork

• Address: 250 NICOLLET MALL, MINNEAPOLIS
• City: Minneapolis
• Country: United States of America
• Work hours/week: 40
• Employment Type: Full time
• Platform: CAPITAL MARKETS
• Job Type: Regular
• Pay Type: Salaried
• Posted Date:
• Final date to receive applications:

Note: Applications will be accepted until 11:59 PM on the day prior to the Final date to receive applications date above

Inclusion and Equal Opportunity Employment

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