Senior LIHTC Portfolio Manager

Bank of America; Boston (MA); On-site; USD 137,000 - 163,000; Full time

Job summary

Bank of America is seeking an experienced LIHTC Asset Manager to oversee a direct portfolio of 60–70 LIHTC assets, including development and stabilization phases. You will identify and mitigate risk, monitor development through stabilization, and coordinate with general partners and counsel on complex compliance issues.

The role requires at least 7 years in asset management with LIHTC exposure, strong quantitative skills for proformas, and effective stakeholder management.

Qualifications

• Minimum 7 years Asset Management experience with at least 5 years in LIHTC Industry.
• Strong understanding of real estate spread sheets, Audits and Tax Returns
• Ability to prepare meaningful proformas
• Strong understanding of Capital Accounts
• Strong negotiation skills
• Strong communication and inter-personal skills
• Strong understanding of LIHTC benefit schedules
• Ability to identify and find resolution to Compliance issues
• Completed at least 1 LIHTC compliance course
• Ability to work as a Team player

Responsibilities

• Identifying, classifying, quantifying and mitigating risk
• Monitor the Development Phase of the Asset through Conversion and Stabilization
• Conduct site visits according to risk classification
• Prepare semi-annual Watched Asset Reports and present during Watched Asset Meetings
• Analyze and negotiate all Capital Transactions such as Refinancing and Year 15 or Early Exits
• Analyze, negotiate and work with Counsel on Partnership Amendments
• Analyze and negotiate waivers, as needed
• Work with General Partners (and consultant, if needed) on any Compliance issues
• Review and analyze K-1s, Tax Returns and Audits, as per policy and procedures
• Prepare Tax Return and Audit Checklists for each Investment
• Prepare stay/leave analysis, as necessary
• Work with WCAAs to maintain accurate data in CARMA and EDR
• Maintain strong relationships with GP clients and deliver first-class service
• Work cross-divisionally with internal partners, as appropriate

Skills

Asset Management

LIHTC Knowledge

Real Estate Proformas

Capital Accounts

Negotiation

Communication

LIHTC Schedules

Compliance Resolution

Team Player

Risk Management

Portfolio Analysis

Regulatory Compliance

Underwriting

Stakeholder Management

Education

BA / BS

Job description

Bank of America is seeking an experienced LIHTC Asset Manager to oversee a direct portfolio of 60–70 LIHTC assets, including development and stabilization phases. You will identify and mitigate risk, monitor development through stabilization, and coordinate with general partners and counsel on complex compliance issues.

The role requires at least 7 years in asset management with LIHTC exposure, strong quantitative skills for proformas, and effective stakeholder management.