LIHTC Underwriter

OCCH

Columbus (OH)

On-site

USD 70,000 - 90,000

Full time

14 days+

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Job summary

A nonprofit focused on affordable housing in Columbus, Ohio, is seeking an Entry-Level Account Manager. The role involves underwriting low-income housing tax credit projects, managing closing processes, and collaborating with various stakeholders to ensure timely project delivery. Ideal candidates will have a bachelor’s degree and 1-3 years of relevant experience. A commitment to affordable housing and strong analytical skills are essential.

Qualifications

1-3 years of experience in real estate finance, lending, or affordable housing.
Knowledge of industry policies, issues, and programs.

Responsibilities

Underwrite low-income housing tax credit projects.
Manage closing processes and coordinate committee memos.
Provide analysis of diligence items and recommend actions.

Skills

Communication

Analytical skills

Problem solving

Organizational skills

Data analysis

Education

Bachelor’s degree in business, Accounting, Finance, Real Estate

Job description

Job Summary

The Account Manager is responsible for underwriting low-income housing tax credit projects, driving deals through the closing process, managing and coordinating Credit Committee memos, and providing in-depth analysis of key diligence items to recommend actions to the Committee and Risk Officer. In this process, the Account Manager performs an unbiased evaluation of transactions, structuring tax credit investments, measuring the risks, and identifying mitigants associated with these transactions.

Essential Job Functions

Function/Responsibility

As part of underwriting assigned proposed tax credit investments: understands all facets of the deal, including but not limited to guarantor review, income and expense analysis, financial underwriting, and due diligence review
Facilitates due diligence collection and review
Joins and is an active participant in closing calls to maintain the closing timeline
Prepares and presents the Investment Memo package – including narratives, descriptions, risks and mitigants, and other ad hoc analyses illustrating pertinent aspects of the investment – for internal approval at various times during the closing process
Owns the financial model throughout the closing process, including the maintenance of yield from LOI through Closing
Identifies and elevates risk items or changes to the Originator, Risk Officer, or other parties affected by changes and identifies mitigants
Provides regular updates with AVP of Accounts Management; EVP, Acquisitions; and Risk Officer regarding deal underwriting progress including status of closing checklist review, review of due diligence materials, transaction timing, and problematic issue identification and resolution to assist in the management of the closing pipeline
Collaborates with Originator to enable coordinated communication with Developer partners using a positive and proactive approach that will foster long-term positive relationships
Ensure that OCCH’s underwriting guidelines are met on each transaction
Leads transition to Construction and Asset Management
Other duties as assigned

Education / Certifications

Bachelor’s degree in business, Accounting, Finance, Real Estate, or related field required.

Work Experience

1-3+ years’ experience real estate finance, lending, affordable housing and/or LIHTC program, and familiarity with industry policies, issues, and programs.

Knowledge, Skills & Abilities

Functional/Technical skills - Has the functional and technical (e.g., accounting, finance) knowledge and data analysis skills to perform at a high level of accomplishment in a fast-paced environment.
Strong communication and analytical/technical skills, including financial accounting, modeling, and investment structuring.
Problem Solving - Uses rigorous logic and methods to solve difficult problems with effective solutions; looks beyond the obvious and does not stop at the first answers.
Communication - Conveys messages clearly and succinctly both verbally and in writing; speaks in a manner that is effective for a variety of audiences and settings, coaches others in a constructive way.
Informing - Provides the information people need to know to do their jobs; provides information so that decision makers can make accurate decisions.
Priority Management - Prioritizes multiple tasks/projects successfully; delivers outputs within timeframes; demonstrates an ability to focus on the details without losing sight of the big picture.
Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands and meet deadlines.
Must be highly motivated, able to work independently.
Demonstrated ability to work productively and accurately in a fast-paced environment with multiple projects and stringent deadlines.
Learning on the Fly - Open to change; analyzes both successes and failures for clues to improvement; enjoys the challenge of unfamiliar tasks.
Demonstrates professionalism, diplomacy and composure and is flexible and able to adapt to a variety of situations.
Ability to work evening and weekend hours during peak periods.
Ability to travel for site visits as required.

Ohio Capital Corporation for Housing is an independent, mission-driven nonprofit corporation based in Columbus, Ohio, who works with private and public developers to create affordable housing opportunities. Since its inception, OCCH has raised over $6 billion in private capital and invested in over 60,000 units of affordable housing in over 1,000 developments.

Our mission is to advance the preservation, production, and management of affordable housing through collaborative partnerships and innovative thought leadership. Our mission is at the heart of everything we do. Our core values are our building blocks and foundation. Our values of CREATING: Collaboration & Communication, Respect, Expertise, Accountability, Trust, Innovation, Inclusion & Growth, will guide our behaviors ensuring a consistent focus on quality and progress toward our vision. Ideal candidates will be passionate about our mission and exhibit our core values with a commitment to continuous improvement and growth.

OCCH is an equal opportunity employer. Equal employment opportunity is not only good practice - it is the law and applies to all areas of employment, including recruitment, selection, hiring, training, transfer, promotion and demotion, termination, compensation, and benefits. As an equal opportunity employer, OCCH prohibits unlawful discrimination based on race, religion, creed, color, national origin or ancestry, sex, age, marital status, sexual orientation, gender, gender identity, gender expression, genetic expression, disability, veteran or military status, or any other basis that would be in violation of any applicable federal, state or local law.

Seniority level