CIC Project Manager Analyst -Tax Credit & Equity - Huntington National Bank
Clayton, MO
About the Job
Description
The Huntington Community Impact Capital (“CIC”) Project Manager Analyst will support Project Managers in working on tax credit equity and debt underwriting and project management of LIHTC projects and co-manage the internal relationships with the closing teams and external developer relationships. They will report to the Director of Project Management. Please note: Preferred locations are Columbus, OH, St. Louis, MO, Cleveland, OH, Detroit, MI or Chicago, IL
+ Assist underwriting debt facilities and equity investments, and coordinating successful, timely closings with all internal and external groups (e.g., closers, loan administrators, RETS, third-party reports, counsel, other lenders, etc.). Ensure proposed tax credit financed project complies with all tax provisions required to maximize investment value, including 704(b) capital account analysis. Support Project Managers in working with counsel to negotiate partnership agreement terms that protect the Banks’ ownership interest in LIHTC investments and ensure consistency between the Bank’s lending documents and partnership documents.
+ Acting as a contact with the developer during the underwriting and closing process with an emphasis on building relationship
+ Financial modeling of tax benefits and capital account analysis, sources and uses, capital stack, development budget, operating budget pro forma, cash flow, benefit schedule, and other relevant analyses
+ Basic proficiency in understanding and identifying associated risks (especially those particular to tax credit developments and IRC Section 42), and the ability to describe and/or devise mitigants.
+ Supporting Project Managers in drafting and presenting comprehensive memoranda summarizing the transaction, including deal structure, budgets, guarantor analysis, compliance, risk ratings, risks and mitigants, and final recommendation. Memos should be of high quality and based on sound underwriting.
+ Assisting in continuous improvement and development of various CIC infrastructure projects
+ Collaborating with other CIC colleagues to create Best in Class project management, underwriting, closing, and asset management platform
+ Working with CIC business development on analyzing and structuring opportunities prior to issuance of term sheets
+ Acting as a key point of contact with Credit in investments and loans via regular and substantive updates to key issues
+ Demonstrating strong stewardship over Huntington’s financial and community impact interests internally and in the communities where we invest
+ Representing the Bank in industry events and participate in industry leading discussions including policy
Basic Qualifications:
• Bachelor’s degree from accredited university. Finance, accounting, or business degree preferred.
Preferred Qualifications:
• 2+ of LIHTC experience• 1+ 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, real estate owned schedules, contingent liabilities, organizational structures, and business plans• Strong presentation skills to Credit and other internal stakeholders
Exempt Status: (Yes = not eligible for overtime pay) (No = eligible for overtime pay)
Yes
Workplace Type:
Hybrid
Huntington is an equal opportunity and affirmative action employer and is committed to providing equal employment opportunities for all regardless of race, color, religion, sex, national origin, age, disability, sexual orientation, veteran status, gender identity and expression, genetic information, or any other basis protected by local, state, or federal law.
Tobacco-Free Hiring Practice: Visit Huntington's Career Web Site for more details.
Agency Statement: Huntington does not accept solicitation from Third Party Recruiters for any position
The Huntington Community Impact Capital (“CIC”) Project Manager Analyst will support Project Managers in working on tax credit equity and debt underwriting and project management of LIHTC projects and co-manage the internal relationships with the closing teams and external developer relationships. They will report to the Director of Project Management. Please note: Preferred locations are Columbus, OH, St. Louis, MO, Cleveland, OH, Detroit, MI or Chicago, IL
+ Assist underwriting debt facilities and equity investments, and coordinating successful, timely closings with all internal and external groups (e.g., closers, loan administrators, RETS, third-party reports, counsel, other lenders, etc.). Ensure proposed tax credit financed project complies with all tax provisions required to maximize investment value, including 704(b) capital account analysis. Support Project Managers in working with counsel to negotiate partnership agreement terms that protect the Banks’ ownership interest in LIHTC investments and ensure consistency between the Bank’s lending documents and partnership documents.
+ Acting as a contact with the developer during the underwriting and closing process with an emphasis on building relationship
+ Financial modeling of tax benefits and capital account analysis, sources and uses, capital stack, development budget, operating budget pro forma, cash flow, benefit schedule, and other relevant analyses
+ Basic proficiency in understanding and identifying associated risks (especially those particular to tax credit developments and IRC Section 42), and the ability to describe and/or devise mitigants.
+ Supporting Project Managers in drafting and presenting comprehensive memoranda summarizing the transaction, including deal structure, budgets, guarantor analysis, compliance, risk ratings, risks and mitigants, and final recommendation. Memos should be of high quality and based on sound underwriting.
+ Assisting in continuous improvement and development of various CIC infrastructure projects
+ Collaborating with other CIC colleagues to create Best in Class project management, underwriting, closing, and asset management platform
+ Working with CIC business development on analyzing and structuring opportunities prior to issuance of term sheets
+ Acting as a key point of contact with Credit in investments and loans via regular and substantive updates to key issues
+ Demonstrating strong stewardship over Huntington’s financial and community impact interests internally and in the communities where we invest
+ Representing the Bank in industry events and participate in industry leading discussions including policy
Basic Qualifications:
• Bachelor’s degree from accredited university. Finance, accounting, or business degree preferred.
Preferred Qualifications:
• 2+ of LIHTC experience• 1+ 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, real estate owned schedules, contingent liabilities, organizational structures, and business plans• Strong presentation skills to Credit and other internal stakeholders
Exempt Status: (Yes = not eligible for overtime pay) (No = eligible for overtime pay)
Yes
Workplace Type:
Hybrid
Huntington is an equal opportunity and affirmative action employer and is committed to providing equal employment opportunities for all regardless of race, color, religion, sex, national origin, age, disability, sexual orientation, veteran status, gender identity and expression, genetic information, or any other basis protected by local, state, or federal law.
Tobacco-Free Hiring Practice: Visit Huntington's Career Web Site for more details.
Agency Statement: Huntington does not accept solicitation from Third Party Recruiters for any position
Source : Huntington National Bank