RBC · 1 week ago
Vice President, Real Estate Work Out/Asset Risk Manager (Charlotte/Chicago)
Chicago, IL
Full-time
Onsite
Senior Level, Lead/Staff
$110K/yr - $130K/yr
8+ years expRBC Capital Markets is a leading national syndicator of various tax credits and investments. The Asset Risk Manager is responsible for overseeing a portfolio of underperforming multi-family real estate assets, focusing on performance improvement and risk mitigation.
BankingFinancial ServicesWealth Management
Responsibilities
Complete detailed workout analyses to prepare asset specific risk management plans and loss mitigation plans on higher risk rated assets. These plans will recommend strategies to resolve financial, real estate operations, LIHTC compliance and ownership issues. Within this process completing:
Review of either original underwriting cash flow projections or most recent stabilization cash flow projection. Compare against actual results and determine causes of variances
For deals with remaining equity, review sources and uses of funds to identify gaps and assist in the resolution of capital shortfalls
Analyze reports to confirm the feasibility of project stabilizations plans – including market analyses, operating budgets, rent levels, AMI set-asides, expenses and capital improvements
Interact and negotiate with managing members, developers, lenders, contractors, investors, local and state housing agencies and other stakeholders to analyze means to improve risk profile of assigned assets
Prepare stabilized, interim and long-term budget proformas
Prepare formal narrative risk management plans
Provide oversight of assets by analyzing performance data on monthly or quarterly basis and assign risk ratings quarterly or in response to significant events
Conduct physical site inspections pursuant to the risk management plan for the asset
Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of partnership agreement, loan documents, LURAs, QAPs, and tax credit application
Expedite the receipt of financial and operational information from the lower tier partnerships on a monthly, quarterly and annual basis. Identifies data and information which implies a developing pattern of problems and identifies the need for further investigation. Prepare informative narrative investor reports on property performance, complete the RBC risk ratings report, provide problem resolution and workout strategies, as applicable
Initiate communication with General Partners to ensure timely submission of tax returns and audits
Review the annual operating budget for each property in portfolio for performance in comparison to original projections and evaluate for new trends in income and expense categories
Communicate issues that may place a project at risk to appropriate leadership in Asset Management and develop an action plan that will help mitigate the risk and protect the investment
Recommend the implementation of strategies to resolve operational, financial, and compliance related difficulties within your portfolio
Maintain a thorough and up-to-date record of property activity and document management in the database to maintain the integrity of the asset management database and other electronic systems
Maintain a in depth understanding of regional and local economic and demographic trends within portfolio markets sufficient to address and report asset issues to bring forth resolution where possible
Develop and maintain relationships with General Partners, management agents, lenders, contractors, third-party monitors, investors, local and state housing agencies, and others in the LIHTC industry to ensure the flow of current and relevant information
Qualification
Required
Bachelor's degree, preferably in finance, accounting or real estate. The ideal candidate may also possess an MBA or master's in finance, accounting or real estate
Eight or more years' experience in affordable housing, tax credit syndication, transaction processing, or multifamily real estate underwriting and/or financial modeling. Strong consideration for candidates with 4 or more years in work out, special assets or credit risk experience
Key skills include real estate concepts, financial analysis, ability to prioritize and understand critical pressure points in negotiations and presentation of creative solutions
A strong interest in real estate investment and/or affordable housing, along with proficiency in MS-Outlook, MS-Excel and MS-Office applications
Excellent verbal and written communication skills are essential
Preferred
Prior experience as a LIHTC Asset Risk Manager/Special Assets/Work Out is highly preferred
Benefits
401(k) program with company-matching contributions
Health, dental, vision, life, disability insurance
Paid-time off
Company
RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance.
10001+ employees
H1B Sponsorship
RBC has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (29)
2024 (17)
2023 (3)
2022 (4)
2021 (1)
2020 (2)
Funding
Current Stage
Public CompanyTotal Funding
$16.3B2025-10-30Post Ipo Debt· $5B
2025-09-15Post Ipo Debt· $1.35B
2025-07-10Post Ipo Debt· $177.74M
Leadership Team
Graeme Hepworth
Chief Risk Officer
Kelly Bradley
Chief Human Resources Officer
Recent News
Private Capital Journal
2026-01-09
2026-01-08
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