This listing was posted on Professional Diversity Network.
Affordable Housing Tax Credit Asset Manager
Location:
Los Angeles, CA
Description:
At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you. In this role, you will: Provide a single point of contact with our clients and internal departments regarding assigned assetsMake decisions in complex and multifaceted situations requiring exceptional understanding of the function, policies, procedures, and compliance requirements that influence and lead broader work team to meet deliverables and drive new initiativesCollaborate and consult with Commercial Real Estate peers, colleagues, and mid level to more experienced managers to resolve issues and achieve goalsIdentify and analyze issues, and recommend and execute corrective action plansMonitor investment and property or fund performance, including construction and lease-up progressAnalyze tax returns and property and client financial statementsReview requests for capital contributions and reserve releases, including calculations of adjustments to capital contributions based on agreements.Underwrite general partner / fund manager partners consent requests (including loan refinances and changes in partnership structures)Negotiate and execute the exit of Wells Fargo from investment partnershipsMay need to assess markets in which assets reside, identify market and sub-market risks and issuesLead projects, teams, or serve as a peerParticipate and/or supervise projects related to Wells Fargo's internal asset management process improvementTrack any tasks outsourced to third partiesEmployees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements. Required Qualifications: 5+ years of Commercial Real Estate Portfolio Management experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education Desired Qualifications: 5+ years of experience in the Low-Income Housing Tax Credit (LIHTC) industry with one or more of the following functional roles: Real Estate Underwriting, Portfolio Management, Fund Management, Asset Management (Tax Credit Asset Management a plus), Real Estate Workouts, Financial Analysis, AccountingFamiliarity and ability to review tax returns and audits for LIHTC partnershipsKnowledge of IRS Code Section 42 regulations and compliance requirementsFamiliarity with Real Estate partnership and Real Estate fund agreement legal documentsAbility to effectively underwrite perm loan conversionsExperience negotiating Investor Limited Partner (ILP) exits from Real Estate PartnershipsExperience managing multifamily housing projects during constructionAbility to read and understand complex commercial real estate loan or real estate investment documentation, securitization documents, including pooling and servicing agreements and related documentationAdvanced knowledge of financial issues and tax issues pertaining to Real EstateCustomer service focus with experience actively listening, eliciting information, comprehending customer issues/needs, and recommending solutionsExtensive knowledge and understanding of tax credit and income producing real estateExperience with tax credit syndicationStrong attention to detail and accuracy skillsAdvanced Microsoft Excel skillsStrong organizational, multi-tasking, and prioritizing skillsStrong analytical skills and ability to solve complex technical problemsStrong communication skills and ability to articulate complex material to a diverse audienceStrong project management skills including the ability to handle multiple projects concurrentlyExperience with coaching, training, and mentoringBachelor's or Master's degree in Real Estate, Finance, Accounting or related field Tax Credits is not a functional role Job Expectations: Ability to travel up to 10% of the timeAbility to work additional hours as neededThis role requires at least 4 days in the office Additional Information: Pay Range: $150,000 - $175,000 USD AnnualMay be considered for a discretionary bonus, Restricted Share Rights or other long-term incentive awardRelocation assistance is not available for this position.The position is not eligible for Visa sponsorship.Posting may come down early based on applicant volume.This position is subject to FINRA Background Screening Requirements, including successful completion and clearing of a background check. Internal transfers are subject to comply with 17 CFR 240.17f-2 of the Securities Exchange Act of 1934 and FINRA Bylaws, Article III, Section 3, which states that Associated Persons should not be subject to statutory disqualification. Successful candidates must also meet ongoing regulatory requirements including additional screening and are required to report certain incidents. Pay Range $120,400.00 - $287,600.00 Benefits Wells Fargo provides all eligible full- and part-time employees with a comprehensive set of benefits designed to protect their physical and financial health and to help them make the most of their financial future. Visit Benefits - Wells Fargo Careers for an overview of the following benefit plans and programs offered to employees. 401(k) Plan Paid Time Off Parental Leave Critical Caregiving Leave Discounts and Savings Health Benefits Commuter Benefits Tuition Reimbursement Scholarships for dependent children Adoption Reimbursement Posting End Date: 10 Jun 2024 * Job posting may come down early due to volume of applicants. We Value Diversity At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic. Applicants with Disabilities To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo . Drug and Alcohol Policy Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.PDN-9c0d5dd4-a966-4492-8e26-c46d08e0385b
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More About this Listing: Affordable Housing Tax Credit Asset Manager
Affordable Housing Tax Credit Asset Manager is a Executive Manager Job at Wells Fargo located in Los Angeles CA. Find other listings like Affordable Housing Tax Credit Asset Manager by searching Oodle for Executive Manager Jobs.
Affordable Housing Tax Credit Asset Manager is a Executive Manager Job at Wells Fargo located in Los Angeles CA. Find other listings like Affordable Housing Tax Credit Asset Manager by searching Oodle for Executive Manager Jobs.