Achievers Network · 2 months ago
CIC Sr. Project Manager
Chicago, IL
Full-time
Hybrid
Mid, Senior Level
$70K/yr - $140K/yr
4+ years expAchievers Network is focused on community impact and is seeking a CIC Sr. Project Manager to lead tax credit equity and debt underwriting for affordable housing projects. The role involves managing relationships with developers and internal teams, ensuring compliance with tax provisions, and overseeing financial modeling and risk analysis.
Non-profit Organization Management
Responsibilities
Lead underwriting and closing for 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. Work 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 primary contact with the developer during the underwriting and closing process with an emphasis on building relationships
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
Intermediate 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
Drafting and presenting comprehensive memoranda summarizing the transaction, including deal structure, budgets, guarantor analysis, compliance, risks and mitigants, risk ratings, and final recommendations. 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
Training junior employees and analysts
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
Qualification
Required
Bachelor's degree
4+ years of LIHTC experience
2+ years of LIHTC (or CRE) underwriting and closing experience
Preferred
Bachelor's degree from accredited university. Finance, accounting, or business degree preferred
6+ years of LIHTC experience
4+ 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
Intermediate proficiency in excel modeling of debt and equity investments
Intermediate knowledge of limited partnership agreements and loan documents with focus on guarantees and security
Intermediate 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
Benefits
Health insurance coverage
Wellness program
Life and disability insurance
Retirement savings plan
Paid leave programs
Paid holidays
Paid time off (PTO)
Company
Achievers Network
Black Achiever is a group dedicated to connecting African American professionals. We believe you can accomplish more together than you can by yourself.
2-10 employees
Funding
Current Stage
Early StageLeadership Team
Michael Moore
President/CEO
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