CIC Project Manager -Affordable Housing

Full-time - Mid Level

Albany, NY

Management of Companies and Enterprises

About the position

The Huntington Community Impact Capital (CIC) Project Manager (underwriter) will play a crucial role in the underwriting and project management of affordable housing projects, specifically those utilizing Low-Income Housing Tax Credits (LIHTC). This position involves a blend of financial analysis, relationship management, and project oversight, ensuring that all tax credit financed projects comply with necessary regulations to maximize investment value. The Project Manager will work closely with internal teams and external developers, acting as a key point of contact throughout the underwriting and closing processes. The role is designed for a professional who can navigate complex financial structures and foster strong relationships with stakeholders in the affordable housing sector. The Project Manager will lead or assist in underwriting debt facilities and equity investments, coordinating timely closings with various internal and external groups, including closers, loan administrators, and third-party counsel. A significant part of the role involves financial modeling, where the Project Manager will analyze tax benefits, capital accounts, and budgets to ensure the viability of projects. The position also requires drafting comprehensive memoranda that summarize transactions, including deal structures, compliance, and risk assessments, which must be of high quality and based on sound underwriting principles. In addition to these responsibilities, the Project Manager will contribute to the continuous improvement of CIC infrastructure projects and collaborate with colleagues to establish best practices in project management and asset management. Training junior employees and analysts is also a key aspect of the role, as is representing the bank at industry events and discussions. The ideal candidate will embody Huntington's values of a Can-Do Attitude, Forward Thinking, and Service Heart, demonstrating a commitment to community impact and financial stewardship.

Responsibilities

• Lead or assist underwriting debt facilities and equity investments.
• Coordinate successful, timely closings with all internal and external groups.
• Ensure proposed tax credit financed projects comply with all tax provisions required to maximize investment value.
• Work with counsel to negotiate partnership agreement terms that protect the Bank's ownership interest in LIHTC investments.
• Act as a contact with the developer during the underwriting and closing process with an emphasis on building relationships.
• Perform financial modeling of tax benefits and capital account analysis, sources and uses, capital stack, development budget, operating budget pro forma, cash flow, and benefit schedule.
• Identify associated risks and describe or devise mitigants.
• Draft and present comprehensive memoranda summarizing transactions, including deal structure, budgets, and risk ratings.
• Assist in continuous improvement and development of various CIC infrastructure projects.
• Collaborate with other CIC colleagues to create Best in Class project management, underwriting, closing, and asset management platform.
• Work with CIC business development on analyzing and structuring opportunities prior to issuance of term sheets.
• Act as a key point of contact with Credit in investments and loans via regular updates to key issues.
• Train junior employees and analysts.
• Demonstrate strong stewardship over Huntington's financial and community impact interests.
• Represent the Bank in industry events and participate in industry leading discussions.

Requirements

• Bachelor's degree from an accredited university, preferably in finance, accounting, or business.
• 2+ years of LIHTC experience.

Nice-to-haves

• 3+ years of LIHTC experience.
• 2+ years of LIHTC (or CRE) underwriting and closing experience.
• Tax credit syndications experience.
• Technical knowledge of the LIHTC program.
• Familiarity with other tax credit programs such as State and Historic Tax Credits and debt products.
• Basic proficiency in excel modeling of debt and equity investments.
• Basic knowledge of limited partnership agreements and loan documents with focus on guarantees and security.
• Basic understanding of analyzing sponsor financial statements and business plans.
• Strong presentation skills to Credit and other internal stakeholders.

Benefits

• Health insurance coverage
• Wellness program
• Life and disability insurance
• Retirement savings plan
• Paid leave programs
• Paid holidays
• Paid time off (PTO)