Associate, Stabilized Asset Management, RBC Community Investments

Royal Bank of Canada - Chicago, IL

Full-time - Mid Level

Chicago, IL

5,001-10,000 employees

Credit Intermediation and Related Activities

About the position

The Associate, Stabilized Asset Management position at RBC Community Investments involves managing a portfolio of real estate assets within the affordable housing tax credit programs. The role focuses on ensuring compliance with tax credit provisions, analyzing project risks, and maintaining relationships with various stakeholders in the LIHTC industry. The position requires a strong background in real estate, finance, or property management, and emphasizes the importance of effective communication and financial analysis skills.

Responsibilities

• Assess project and partnership risk factors related to compliance with Section 42 (LIHTC) provisions and partnership agreements.
• Calculate annual tax credit amounts and first-year credit delivery based on lease-up figures.
• Manage the disbursement of equity for the assigned portfolio.
• Analyze performance data on a monthly, quarterly, or annual basis to provide oversight of projects.
• Complete detailed workout analyses to prepare Risk Management Plans and Loss Mitigation Plans for higher risk-rated assets.
• Communicate relative risk accurately and develop plans to mitigate risks.
• Recommend strategies to resolve financial and compliance issues on assets.
• Conduct annual property inspections and expedite the receipt of financial information from partnerships.
• Initiate communication with General Partners for timely submission of tax returns and audits.
• Review annual operating budgets for properties in the assigned portfolio.
• Communicate project risks to leadership and develop action plans to mitigate them.
• Assist with asset disposition at the end of the tax credit period or other dissolution events.
• Participate in team initiatives and maintain up-to-date records of property activity.

Requirements

• Bachelor's Degree in real estate, accounting, finance, or property management.
• Five years of experience in real estate, accounting, finance, or property management.
• Strong understanding of real estate concepts and financial analysis.
• Excellent organization and prioritization skills.
• Proficiency in MS-Outlook and MS-Office applications.
• Excellent verbal and written communication skills.

Nice-to-haves

• Prior experience as a LIHTC Asset Manager is highly preferred.

Benefits

• Opportunities for professional development and career growth.
• Inclusive and equitable workplace culture.
• Support for community engagement and mutual success.