Royal Bank of Canada

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At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you’re helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

Job Title

Associate - Stabilized Asset Management (Low Income Housing Tax Credit)

Job Description

What is the opportunity? 

RBC Capital Markets is a leading national syndicator of State and Federal Low Income Housing Tax Credits (LIHTCs), Historic Rehabilitation Tax Credits (HRTCs), and New Markets Tax Credits (NMTCs). 

The Portfolio Manager is responsible for maintaining a portfolio of real estate assets invested through the Section 42 (LIHTC) affordable housing tax credit program and/or the historic tax credit program to ensure the continuous delivery of tax credit benefits and passive losses.

What will you do?

• 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. 
• Calculate annual tax credit amount from final cost certification and 8609s and calculate first year credit delivery from actual lease-up figures.
• Manage the disbursement of equity for the assigned portfolio. 
• Provide oversight of project by analyzing performance data on a monthly, quarterly, or annual basis as applicable. 
• Complete annual property inspections or more frequently as needed. 
• Expedite the receipt of financial and operational information from the lower tier partnerships on a monthly, quarterly and annual basis.
• Initiate communication with General Partners to ensure timely submission of tax returns and audits.
• Review the annual operating budget for each property in the assigned portfolio.
• 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. 
• Assist with the disposition of assets at the end of the affordable housing tax credit period or other dissolution event.
• Participate in team initiatives.
• Maintain a thorough and up-to-date record of property activity and document management in the database.
• Maintain familiarity with regional and local economic and demographic trends within portfolio markets.
• 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.

What is needed for success?

• A bachelor’s degree and five years’ experience in real estate, accounting, finance, or property management.
• Prior experience as a LIHTC Asset Manager is highly preferred. 
• Key skills include real estate concepts, financial analysis, and strong organization and prioritization. 
• A strong interest in real estate investment and/or affordable housing
• Proficiency in MS-Outlook and MS-Office applications
• Excellent verbal and written communication skills are essential.

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work
• Opportunities to building close relationships with clients

The good-faith expected salary range for the above position is $90,000- $125,000 depending on factors including but not limited to the candidate’s experience, skills, registration status; market conditions; and business needs. This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.

RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC’s high performance culture
• Enables collective achievement of our strategic goals
• Generates sustainable shareholder returns and above market shareholder value

Job Summary

Manages and monitors investment portfolios and transactions in an investment banking environment. Applies experience and seasoned knowledge, skills, and practices to perform a variety of assignments.

Address:

Denver, Colorado, United States of America

City:

USA-CO-DENVER

Country:

United States of America

Work hours/week:

40

Employment Type:

Full time

Platform:

Capital Markets

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2023-09-11

Application Deadline:

2023-09-11

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.

We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at rbc.com/careers.

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