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CIC Sr. Project Manager -Affordable Housing

Remote:

Full Remote

Contract:

Full time

Experience:

Senior (5-10 years)

Work from:

Illinois (USA), United States

Offer summary

Qualifications:

Bachelor's degree in finance, accounting or business preferred, 7+ years of LIHTC experience, 5+ years of LIHTC underwriting and closing experience, Advanced degree preferred with 9+ years of LIHTC experience, Tax credit syndications experience.

Key responsabilities:

Lead underwriting and closing for debt facilities and equity investments
Ensure compliance with tax provisions for project financing
Negotiate partnership agreement terms with counsel
Draft and present memos summarizing transactions
Train and mentor junior employees and analysts

Huntington National Bank Financial Services Large http://www.huntington.com/

10001 Employees

HQ: Columbus

See more Huntington National Bank offers

Job description

Description

Summary:

The Huntington Community Impact Capital (“CIC”) Senior Project Manager -Affordable Housing will lead tax credit equity and debt underwriting and project management of LIHTC projects and manage the internal relationships with the closing teams and external developer relationships. The project manager will report to the Director of Project Management. Please note: Preferred working locations are: St. Louis, Columbus, Cleveland, Detroit and Chicago but also open to remote. They will be primarily responsible for:

Independently lead underwriting and closing for debt facilities and equity investments, coordinating successful, timely closings with all internal and external groups (e.g., closers, loan administrators, RETS, third-party reports, counsel, other lenders, etc.). Ensure proposed tax credit financed project complies with all tax provisions required to maximize investment value, including 704(b) capital account analysis. Work with counsel to negotiate partnership agreement terms that protect the Banks’ ownership interest in LIHTC investments and ensure consistency between the Bank’s lending documents and partnership documents.
Acting as primary contact with the developer during the underwriting and closing process with an emphasis on building relationships
Financial modeling of tax benefits and capital account analysis, sources and uses, capital stack, development budget, operating budget pro forma, cash flow, benefit schedule, and other relevant analyses
Advanced proficiency in understanding and identifying associated risks (especially those particular to tax credit developments and IRC Section 42), and the ability to describe and/or devise mitigants.
Drafting and presenting comprehensive memoranda summarizing the transaction, including deal structure, budgets, guarantor analysis, compliance, risks and mitigants, risk ratings, and final recommendations. Memos should be of high quality and based on sound underwriting.
Leading in continuous improvement and development of various CIC infrastructure projects
Proactively collaborating with other CIC colleagues to create Best in Class project management, underwriting, closing, and asset management platform
Working with CIC business development on analyzing and structuring opportunities prior to issuance of term sheets
Acting as a key point of contact with Credit in investments and loans via regular and substantive updates to key issues
Training and mentoring junior employees and analysts
Demonstrating strong stewardship over Huntington’s financial and community impact interests internally and in the communities where we invest
Representing the Bank in industry events and participate in industry leading discussions, including policy

Basic Qualifications

Bachelor's Degree from accredited university. Finance, accounting, or business degree preferred.
7+ of LIHTC experience
5+ years of LIHTC (or CRE) underwriting and closing experience

Preferred Qualifications

Advanced degree from accredited university. Finance, accounting, or business degree preferred.
9+ years of LIHTC experience
7+ years of LIHTC (or CRE) underwriting and closing experience
Tax credit syndications experience
Technical knowledge of the LIHTC program
Technical knowledge of other tax credit programs such as State and Historic Tax Credits, NMTCs, and debt products
Advanced proficiency in excel modeling of debt and equity investments
Advanced knowledge of limited partnership agreements and loan documents with focus on guarantees and security
Advanced understanding of analyzing sponsor financial statements, real estate owned schedules, contingent liabilities, organizational structures, and business plans.

Affordable Housing

LIHTC

CIC

Exempt Status: (Yes = not eligible for overtime pay) (No = eligible for overtime pay)

Yes

Workplace Type

Remote

Huntington is an equal opportunity and affirmative action employer and is committed to providing equal employment opportunities for all regardless of race, color, religion, sex, national origin, age, disability, sexual orientation, veteran status, gender identity and expression, genetic information, or any other basis protected by local, state, or federal law.

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

Agency Statement: Huntington does not accept solicitation from Third Party Recruiters for any position