Low Income Housing Tax Credits (LIHTC) Admin Manager

Perform varied work that is somewhat difficult in character requiring evaluation to make moderately complex decisions and process information in a timely manner within the LIHTC and Private Equity space. The position requires the prospective candidate to operate with various internal and external teams and business partners.

Job Summary
  • Work with VP CRE through every stage of LIHTC investments, including: pricing of prospective investments to insure acceptable returns, investment committee approvals, closing and fundings of selected investments, submission of required documentation on new investments to the OCC, and monitoring of additional fundings going forward. Real estate underwriting and asset management skills desired.
  • Additionally, interact with internal accounting and tax department to insure all required documentation is obtained. Also requires significant interaction with LIHTC fund sponsors.
  • Will also maintain database reports, in Excel, which monitor performance of LIHTC portfolio, and monthly Private Equity report. Also responsible for quarterly VIE reporting for LIHTC portfolio.
  • Responsibility for quarterly performance monitoring, and preparation of annual reports, for each assigned LIHTC fund investment


Additional Duties and Responsibilities based on experience with real estate underwriting and asset management:
  • Reviews standard real estate documentation for consistency with HSBC's requirements and property specific investment criteria.
  • Reviews and updates financial projections to reflect actual property performance.
  • Reviews property financial statements and working knowledge of tax returns is a plus.
  • Reviews other "due diligence" procedures in connection with the property.
  • Reviews, approves, and processes requests for capital contributions to property specific partnerships.
  • Performs other advanced duties and responsibilities as assigned.
  • Preparation of investment committee submissions in accordance with policy.


Qualifications

Essential Skills
  • Excellent written and oral communication skills
  • Proficiency in Microsoft Excel, Word, and Acrobat
  • Knowledge of LIHTCs
  • Ability to analyze reports, legal documents, tax returns, financial statements, and LIHTC specific documentation
  • Ability to work with minimum supervision, and also to interact, in writing and orally, with many and varied individuals both within HSBC and externally

Knowledge Of
  • HSBC's working structure, policies, mission, and strategies
  • Fundamental concepts, principles, and practices of Low Income Housing Tax Credits (LIHTC)
  • Fundamental concepts, principles, and practices of the real estate industry
  • Principles of banking and finance industry operations

Knowledge, Skills, and Abilities:

Knowledge of:
  • Company's working structure, policies, mission, and strategies.
  • Fundamental concepts, principles and practices of LIHTC.
  • Fundamental concepts, principles and practices of the real estate industry.
  • Principles of banking and finance industry operations.

Skill in:
  • Reviewing standard real estate documentation including financial projections, loan documents, various legal memorandums, draw requests, rent rolls, property financial statements, and certificates of occupancy/building permits.
  • Reading and understanding real estate and LIHTC specific documentation.
  • Real estate financial projections.
  • Operating standard office equipment and using required software application to produce correspondence, reports, electronic communication, and spreadsheets.

Ability to:
  • Communicate effectively both oral and written.
  • With limited to no guidance, organize, manage and track multiple detailed tasks and assignments with frequently changing priorities in a fast-paced work environment to meet required results.
  • Provide accurate and high quality work product in a timely manner.
  • Compile data from multiple sources, review, and accurately input into various spreadsheets and database.
  • Project a positive, professional image both internal and with external business contacts.
  • Convey information clearly and effectively through both formal and informal documents.
  • Identify relationships, draw logical conclusions and interpret results for use in decision making.
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