Attorney in Pittsburgh, PA

In-House

Pittsburgh, PA

Attorney in Pittsburgh, PA

Non-practicing Attorney

No

Job Title: Senior Asset Manager, Team Lead (LIHTC)

Job Responsibilities:
The primary responsibilities of the Senior Asset Manager, Team Lead (LIHTC) involve managing a portfolio of closed debt and equity investments independently, with potential supervisory duties over a team of Asset Managers. The role includes analyzing and reporting on asset performance, recommending actions on customer requests, and ensuring timely assessment and reporting of asset quality indices to Management and Credit. The manager is expected to:

- Monitor equity investment value and loan risk factors by maintaining relationships with General Partners/developers, management agents, lenders, contractors, accountants, third-party consultants, and others.
- Develop action plans, obtain investor and/or credit approval, and ensure implementation to preserve investor value, reduce the risk of loan loss, and comply with tax law and affordable housing regulatory requirements.
- Assess compliance with Low Income Housing Tax Credit and Historic Tax Credit provisions, partnership agreements, loan documents, operational benchmarks, and financial covenants, identifying and reporting potential non-compliance risks.
- Complete monthly, quarterly, and annual reporting activities, including operating performance and asset quality index reviews, and manage collection of priority returns and asset management fees.
- Review, analyze, and report on financial statements and tax returns, ensuring expected tax benefits are claimed on partnership tax returns and confirming CPA firm engagements.
- Evaluate annual budgets for trends in income, expenses, cash flow, and debt service coverage, and monitor construction and lease-up progress to project tax benefit delivery.
- Identify and report issues impacting the project’s risk profile or investment return, including tax credit and tax loss benefits, stabilization, permanent loan conversion, and equity/grant/sub-debt pay-ins.
- Perform property site inspections, evaluate the physical condition of assets, and determine future capital needs.

Education and Experience Information:
Basic Qualifications:
- Bachelor’s degree from an accredited university in Finance, accounting, or business.
- 10+ years of Tax Credit investment experience with a focus on asset management.

Preferred Qualifications:
- Management experience is preferred.
- Strong understanding of Tax Credit investments and the associated legal/regulatory environment, limited partnership agreements, and loan documents.
- Strong analytical and problem-solving skills with attention to detail.
- Experience forming and presenting data-driven conclusions to Credit Administration and other stakeholders.
- Proven track record of working successfully with clients, team members, and management.
- Strong time management and organizational skills.
- High level of emotional intelligence in a division undergoing change.
- Advanced degree or certification (., JD, MBA, CPA, CFA, etc.) or equivalent experience.
- Strong experience with LIHTC, and reasonable exposure to HTC and NMTC is preferred.
- Relevant real estate experience with a focus on asset management.
- Prior experience working for a national tax credit syndicator is a plus.
- Understanding of the bank’s credit profile, credit policies, and risk management objectives.

Salary Information:
The text does not provide specific salary information for this position.

Exempt Status:
Yes (not eligible for overtime pay)

Workplace Type:
Office

Our Approach to Office Workplace Type:
Certain positions outside the branch network may be eligible for a flexible work arrangement, combining in-office and work-from-home options. This approach aims to deepen connections, maintain a strong community, and enable the best work. Remote roles may also involve occasional in-office gatherings for significant events.

Company is an Equal Opportunity Employer and follows a Tobacco-Free Hiring Practice. Note to agency recruiters: Company will not pay a fee for any placement resulting from unsolicited resumes. Agencies must have a valid, written, and fully executed Master Service Agreement and Statement of Work for consideration.