[Hiring] CIC Asset Manager III @Huntington National Bank

Role Description

Preferred locations are Columbus, Cleveland, Detroit, Clayton MO, or Chicago but we will consider remote for the right candidate.

The CIC Tax Credit Asset Manager III will manage a portfolio of closed debt and equity investments. The Asset Manager will:

• Analyze and timely report on asset performance.
• Recommend timely action on customer requests.
• Ensure timely assessment and reporting of asset quality indices to Management and Credit.
• Report to a CIC Asset Management Team Leader.
• Manage complex matters independently and provide mentorship for less experienced Asset Managers.

Key responsibilities include:

• Ensure/monitor equity investment value and loan risk factors through timely receipt and reporting of current and relevant information.
• Develop and maintain relationships with General Partners/developers, management agents, lenders, contractors, accountants, third-party consultants, and others.
• Structure appropriate action plans, obtain investor and/or credit approval, and ensure correct implementation to preserve investor value, reduce risk of loan loss, and maintain compliance with current tax law and other affordable housing regulatory requirements.
• Assess project and partnership compliance with Low Income Housing Tax Credit and Historic Tax Credit provisions, terms of partnership agreement, loan documents, operational benchmarks, and financial covenants.
• Provide identification and reporting of risk factors which could result in non-compliance.
• Complete timely 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 required financial statements and tax returns.
• Ensure expected tax benefits are properly claimed on partnership tax returns through timely review and comment.
• Annually confirm engagement of CPA firms and track progress of deliverables.
• Evaluate proposed annual budgets for trends in income, expenses, cash flow, and debt service coverage.
• Monitor and analyze construction and lease-up progress to project tax benefit delivery.
• Review monthly construction draws, change orders, architect and inspector reports, construction schedules, leasing, and traffic reports.
• Identify and report issues potentially impacting the project’s risk profile or investment return.
• Review capital calls from developer/GPs.
• Ensure required performance benchmarks are achieved and requisite documentation is provided.
• Calculate annual tax credit amounts from final cost certification/8609s.
• Prepare final upward or downward capital adjustments pursuant to the terms of the partnership agreement.
• Perform periodic property site inspections and identify potential issues.
• Maintain familiarity with regional and local economic and demographic trends within portfolio markets.
• Provide site visit reports and follow-up on findings.
• Evaluate physical condition of assets and determine future capital needs.

Qualifications

• Bachelor's Degree
• 12+ years of Tax Credit investment experience with focus on asset management preferred.

Requirements

• Strong understanding of Tax Credit investments and associated legal/regulatory environment.
• Strong analytical and problem-solving skills 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.

Benefits

• Compensation Range: $93,000.00 - 189,000.00 Annual Salary.
• Eligible to participate in an applicable incentive compensation plan.
• Health insurance coverage.
• Wellness program.
• Life and disability insurance.
• Retirement savings plan.
• Paid leave programs.
• Paid holidays and paid time off (PTO).

Company Description

Huntington is an Equal Opportunity Employer.

Tobacco-Free Hiring Practice: Visit Huntington's Career Web Site for more details.

Note to Agency Recruiters: Huntington will not pay a fee for any placement resulting from the receipt of an unsolicited resume.