CIC Project Manager -Affordable Housing

Full-time - Mid Level

New York, 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 utilizing Low-Income Housing Tax Credits (LIHTC). This position involves working closely with both internal teams and external developers to ensure successful project execution and compliance with all relevant tax provisions. The Project Manager will report directly to the Director of Project Management and will be expected to manage relationships with closing teams and developers effectively. The role is open to hybrid work arrangements in various locations including Clayton, MO, New York, NY, Chicago, IL, Detroit, MI, and Columbus, OH. In this position, the Project Manager will lead or assist in underwriting debt facilities and equity investments, ensuring timely closings with all stakeholders involved. They will be responsible for conducting thorough financial modeling, including tax benefits analysis, capital account analysis, and cash flow projections. The Project Manager will also draft comprehensive memoranda summarizing transactions, highlighting deal structures, budgets, compliance, risks, and recommendations. A key aspect of the role is to maintain strong relationships with developers throughout the underwriting and closing processes, emphasizing the importance of collaboration and communication. The Project Manager will also contribute to the continuous improvement of CIC infrastructure projects and collaborate with colleagues to establish best practices in project management, underwriting, and asset management. Training junior employees and analysts will be part of the responsibilities, as well as representing the Bank at industry events and discussions. The ideal candidate will embrace Huntington's values, demonstrate a growth mindset, and possess the ability to work under pressure while identifying problems and proposing effective solutions.

Responsibilities

• Lead or assist underwriting debt facilities and equity investments, coordinating 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, focusing on relationship building.
• Conduct financial modeling of tax benefits, capital account analysis, and other relevant analyses.
• Draft and present comprehensive memoranda summarizing transactions, including deal structure, budgets, and risk analysis.
• Assist in continuous improvement and development of various CIC infrastructure projects.
• Collaborate with CIC colleagues to create best-in-class project management and underwriting platforms.
• 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, providing regular updates on key issues.
• Train junior employees and analysts.
• Represent the Bank in industry events and participate in industry discussions.

Requirements

• Bachelor's degree from an accredited university, preferably in Finance, Accounting, or Business.
• 2+ years of LIHTC experience.
• Basic proficiency in Microsoft Excel for financial modeling and analysis.

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 knowledge of limited partnership agreements and loan documents.

Benefits

• Wellness program
• Paid holidays
• Disability insurance
• Health insurance
• Paid time off
• Retirement plan