Regions Affordable Housing Asset Manager (LIHTC)

The Center Birmingham; Atlanta (GA); On-site; USD 113,000 - 142,000; Full time

Job summary

A leading company in real estate is seeking an Asset Manager specializing in Low-Income Housing Tax Credit investments. The role involves overseeing financial performance, managing a portfolio of properties, and ensuring compliance with regulatory agreements. The successful candidate will have a strong background in real estate management and be detail-oriented with excellent communication skills. This position offers an attractive salary range and competitive benefits.

Benefits

Discretionary incentive plan

Qualifications

• 6 years of experience in real estate as an asset manager.
• Experience in Low-Income Housing Tax Credit (LIHTC).
• Ability to travel approximately 25% of the time.

Responsibilities

• Oversees a portfolio of stabilized LIHTC properties.
• Conducts site visits and financial analysis.
• Identifies properties with operational issues and resolves them.

Skills

Ability to understand underwriting

Ability to work independently

Detail-oriented

Strong verbal and written communication

Proficiency in Microsoft Office

Education

Bachelor’s degree in Accounting

Master’s in Business Administration (MBA)

Job description

Thank you for your interest in a career at Regions. At Regions, we believe associates deserve more than just a job. We believe in offering performance-driven individuals a place where they can build a career --- a place to expect more opportunities. If you are focused on results, dedicated to quality, strength and integrity, and possess the drive to succeed, then we are your employer of choice.

At Regions, the Regions Affordable Housing (RAH) Asset Manager is responsible for monitoring and measuring the financial performance of Low-Income Housing Tax Credit (LIHTC) investment assets to optimize value for investor and developer partners. In addition, this role performs financial analysis; schedules and execute site visits and work closely with respective general partners and property managers to ensure long-term viability of the LIHTC asset. This position reports to the Regional Team Leader or Director of Asset Management and provides a dynamic opportunity to work with an established real estate investment business unit within Regions Bank.

Primary Responsibilities

• Oversees a portfolio of stabilized LIHTC properties
• Reviews and understands limited partnership agreements, regulatory agreements, financing documents and other sources to determine enforceability of terms, financing structures and constraints, as needed
• Reviews year-end financial audits for respective LIHTC partnerships
• Reviews quarterly financial statements and annual statements perform income and expense analysis, balance sheet analysis and budget to actual comparisons, and report quarterly to investors
• Analyses and execute consent requests for general partner, property management and/or limited partner as outlined in the Limited Partnership Agreement and Regions’ internal approval authorization guidelines.
• Identifies properties with operational issues, investigate causes and facilitate problem resolution; work to resolve issues through collaboration with general partners, property managers, lenders, and governmental/regulatory entities
• Complies with reporting requirements of internal partners, including risk management, internal audit, credit risk review, and investor services, and others
• Interacts with diverse audiences utilizing appropriate and effective communication tools and techniques
• Conducts all necessary annual site visits, more frequently for properties with concerns
• Evaluates property management performance as required
• Monitors reserve balances and oversees requests for release of replacement and operating reserves
• Assigns risk ratings, prepares Watch List reports, develops action plans for Watch List assets and ensures implementation of actions to correct problems
• Completes assigned processes or programs and acts autonomously on most decisions
• Participates in the recruitment, development and training of junior asset managers
• Handles more challenging assets and/or partners, independently
• Meets sometimes less clearly defined demands and influences junior colleagues
• Assists Relationship Managers and Funds requests
• Releases provisions calculations
• Other duties as directed or special projects assigned by manager

This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.

This position is incentive eligible.

Requirements

• Bachelor’s degree in Accounting, Business Management, Engineering/Architecture, Finance, Real Estate or related field
• Six (6) years of experience in real estate and/or multi-family housing as an asset manager with stabilized and/or special assets portfolio
• Experience in LIHTC
• Advanced training in market analysis and complex real estate negotiations experience
• Ability to travel approximately 25% of time

Preferences

• Master’s in Business Administration (MBA)
• Commercial banking experience

Skills and Competencies

• Ability to understand underwriting, debt structures, loan agreements and limited partnership agreements
• Ability to work closely with third party regional managers, property managers and leasing agents to provide direction for and oversight of business plans, budgets, forecasts, leases, analysis and approvals
• Ability to work closely with general partners, limited partners, general counsel and senior management to provide direction for and oversight of partnership related duties and responsibilities
• Ability to work independently and collaboratively in a fast-paced environment managing multiple projects concurrently
• Detail-oriented
• Proficiency in Microsoft Office (Word, Excel, PowerPoint)
• Strong ability to be adaptable and flexible
• Strong verbal and written communication
• Strong work ethic and self-motivation

Compensation Details

Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.

The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.

Job Range Target:

Minimum:

$113,658.60 USD

50th Percentile:

$141,490.00 USD

Incentive Pay Plans:

This role is eligible to participate in a discretionary incentive plan. Employees have the potential to receive a discretionary award based on performance against defined metrics and goals.

Location:

Atlanta, Georgia

Equal Opportunity Employer/including Disabled/Veterans

Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.