Portfolio 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, including detailed analysis of operations versus projections for permanent loan closing and stabilization funding.
• Expedite the receipt of financial and operational information from the lower tier partnerships on a monthly, quarterly, and annual basis.
• Provide oversight of project by analyzing performance data on a monthly, quarterly, or annual basis as applicable.
• Communicate issues that may place a project at risk to appropriate leadership in Asset Management and/or Underwriting. Complete detailed "workout" analysis to prepare asset-specific Risk Management 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.
• 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.
• Assist with the disposition of assets at the end of the affordable housing tax credit period or other dissolution event.
• Coordinate internally with construction management, fund management and underwriting teams to provide efficient customer service to our partners.
• Maintain a thorough and up-to-date record of property activity and document management in the database.
• Maintain familiarity with regional and local economic, demographic and housing market 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.
• Coordinate and complete recurring, in-person property inspections for developments within your portfolio.

What do you need to succeed?

Must-have

• Bachelor's degree, preferably in Finance, Accounting or Real Estate.
• Experience in affordable housing, tax credit syndication, transaction processing, property/partnership-level accounting, real estate underwriting and/or financial modeling.
• Key skills include a strong understanding of real estate operations, real estate accounting/financial analysis, and strong organization and prioritization.
• A strong interest in real estate investment and/or affordable housing along with demonstrated Excel skills and proficiency in other MS-Office applications.
• Excellent verbal and written communication skills.

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work
• Opportunities to building close relationships with clients

The good-faith expected salary range for the above position is $100,000-$135,000depending on factors including but not limited to the candidate's experience, skills, registration status; market conditions; and businessneeds.Thissalary 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.