First Citizens Bank

Overview

FCB invests in both proprietary and multi-investor Low Income Housing Tax Credit (LIHTC) investment funds through several affordable housing tax credit syndicators for Community Reinvestment Act (CRA) and Community Benefits Plan (CBP) purposes. Position is responsible for originating, underwriting, and closing of LIHTC fund investments (in conjunction with debt opportunities) with multiple syndicator partners, collaborating with portfolio management on underperforming projects and mentoring junior level staff.

Responsibilities

• Originations and Fund Closings - Leads and coordinates originations, underwriting, internal credit and other (CRA, Tax, Treasury) approvals and closings for LIHTC investments with multiple syndicator partners, including coordination with counsel on legal review of fund documents, collaborating with debt partners on joint debt + equity opportunities (for multi-fund and proprietary fund investments, and tracking investment status on the LIHTC equity pipeline.
• Portfolio Management Collaboration - Works with LIHTC equity portfolio management on monitoring and restructuring or improvement plans for higher risk rated projects. Works with portfolio management team to update annual reviews of syndicator partners as part of credit approval process.
• Mentoring - Mentors junior level staff in underwriting and closing multi-investor and proprietary LIHTC fund investments, including credit approvals, legal coordination and closing logistics.
• Participates in meetings, trainings (inclusive of Bank required compliance courses) and other duties or special projects as assigned by senior leadership and management team

Qualifications

Bachelor's Degree and 4 years of experience in LIHTC Equity Investment Underwriting and Closing OR High School Diploma or GED and 8 years of experience in LIHTC Equity Investment Underwriting and Closing

Preferred Education: Masters /Bachelor�s DegreePreferred Area of Study: Business, Finance, Economics, Real Estate, Public Policy/PlanningPreferred Area of Experience: Finance, Banking, Affordable Housing Development, Public Policy/PlanningLicense or Certification Type: null nullSkill(s): Credit Analysis, Mentoring

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.