CIC Project Manager -Affordable Housing

Full-time - Mid Level

Cincinnati, OH

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 Low-Income Housing Tax Credit (LIHTC) projects. 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 responsible for leading or assisting in the underwriting of debt facilities and equity investments, coordinating timely closings with various stakeholders including closers, loan administrators, and third-party reports. The role emphasizes building strong relationships with developers throughout the underwriting and closing processes, ensuring that all projects maximize investment value and adhere to tax credit regulations. In addition to underwriting responsibilities, the Project Manager will engage in financial modeling, analyzing tax benefits, capital accounts, and development budgets. They will also draft comprehensive memoranda summarizing transactions, including deal structures, compliance, and risk assessments. Continuous improvement of CIC infrastructure projects and collaboration with colleagues to enhance project management and asset management platforms are also key aspects of this role. The Project Manager will serve as a key point of contact with Credit regarding investments and loans, providing regular updates on significant issues. Training junior employees and demonstrating strong stewardship over Huntington's financial and community impact interests are essential duties as well. The position is open to hybrid work arrangements in various locations, including Clayton, MO, New York, NY, Chicago, IL, Detroit, MI, and Columbus, OH. The ideal candidate will embrace Huntington's values of a Can-Do Attitude, Forward Thinking, and Service Heart, while also possessing a growth mindset and the ability to work under pressure and tight deadlines.

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 project complies 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, emphasizing relationship building.
• Conduct financial modeling of tax benefits, capital account analysis, and other relevant analyses.
• Identify associated risks particular to tax credit developments and devise mitigants.
• Draft and present comprehensive memoranda summarizing transactions, including deal structure and risk ratings.
• 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.
• Train junior employees and analysts.
• Demonstrate strong stewardship over Huntington's financial and community impact interests.
• Represent the Bank in industry events and 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.
• 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)