Associate, Stabilized Asset Manager

What will you do?

• Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of partnership agreement, loan documents, LURAs, QAPs, and tax credit application.
• Calculate annual tax credit amount from final cost certification and 8609s and calculate first year credit delivery from actual lease-up figures.
• Manage the disbursement of equity for the assigned portfolio.
• Provide oversight of project by analyzing performance data on a monthly, quarterly, or annual basis as applicable.
• Complete detailed "workout" analyses to prepare asset-specific Risk Management Plans and Loss Mitigation Plans on higher risk-rated assets. Communicate relative risk accurately and develop appropriate plans to mitigate risks and better protect the investment. Recommend implementation of strategies to resolve financial, real estate/LIHTC compliance, and ownership issues on assets.
• Complete annual property inspections or more frequently as needed.
• Expedite the receipt of financial and operational information from the 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 in the assigned portfolio.
• Communicate issues that may place a project at risk to appropriate leadership in Asset Management, and develop an action plan that will help mitigate the risk and protect the investment.
• Assist with the disposition of assets at the end of the affordable housing tax credit period or other dissolution event.
• Participate in team initiatives.
• Maintain a thorough and up-to-date record of property activity and document management in the database.
• Maintain familiarity with 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 others in the LIHTC industry.

What do you need to succeed?

• 3-5 years of experience in Low Income Housing Tax Credits (LIHTC) real estate.
• Bachelor's degree and five years of experience in real estate, accounting, finance, or property management.
• Key skills include real estate concepts, financial analysis, and strong organization and prioritization.
• A strong interest in real estate investment and/or affordable housing.
• Proficiency in MS-Outlook and MS-Office applications.
• Excellent verbal and written communication skills.

What's in it for you?

The good-faith expected salary range for the above position is $80,000 - $110,000 depending on factors including but not limited to the candidate's experience, skills, registration status; market conditions; and business needs.This salary range 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.

RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC's high-performance culture

• Enables collective achievement of our strategic goals

• Generates sustainable shareholder returns and above market shareholder value

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.