U.S. Bank USBCDC - Project Manager - LIHTC Funds in St. Paul, Minnesota
At U.S. Bank, we're passionate about helping customers and the communities where we live and work. The fifth-largest bank in the United States, we’re one of the country's most respected, innovative and successful financial institutions. U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.
Job DescriptionGENERAL SUMMARY: For more than 20 years, U.S. Bancorp Community Development Corporation (USBCDC) and its predecessor institutions have worked closely with partners to make positive financial, social, and environmental impacts across the country. A wholly owned subsidiary of U.S. Bank, N.A., USBCDC makes and manages loans and equity investments to finance community development initiatives using state and federal tax credit programs, including New Markets Tax Credits, Historic Tax Credits, Renewable Energy Tax Credits, and Low-Income Housing Tax Credits. USBCDC is also a prominent tax credit syndicator. More information about USBCDC can be found on the web at www.usbank.com/cdc.
USBCDC is currently seeking a strong candidate to join our growing team of tax credit professionals. The candidate will assist in originating, underwriting and closing of investments in multi-investor funds using the IRS Section 42 Low Income Housing Tax Credit Program (LIHTC), which facilitates the development of affordable housing throughout the country. Investments are made through U.S. Bancorp Community Development Corporation, affiliates, or subsidiaries for the purpose of accruing tax, cash, and CRA benefits. The Funds Project Manager is responsible for providing a broad variety of duties for the affordable housing tax credit production group. Position requires frequent use of PC software packages for word processing, spreadsheets, databases, etc.
ESSENTIAL FUNCTIONS: Communicate, meet and negotiate with external customers and internal partners to gather information and assist in underwriting multi-investor fund investments and structuring equity proposals.
Analyze and summarize components of LIHTC multi-investor fund investment packages for Business Development.
Compile and analyze information for an assigned investment and make recommendations based on findings.
Collect and interpret data to produce reports related to acquiring and underwriting LIHTC investments.
Prepare high quality credit approval memos in support of the proposed investments while identifying the strengths, weaknesses, risks and mitigants; advocate for approval to make investments while leading a balanced discussion among reviewers.
Lead the closing of all transactions originated including working with external and internal teams to obtain final credit approval, achieving timely closing and keeping management informed. Assist in the successful transition associated with making investments into multi-investor funds within USBCDC.
Efficiently prioritize and complete a multitude of projects.
Process a variety of confidential information and documents.
Assist with research on and reports from internal and external databases and maintain investment pipeline.
Participate in special projects as assigned.
BASIC QUALIFICATIONS: Bachelor’s Degree. A major in Economics, Finance, Accounting, Real Estate or Urban/Regional Planning and Development is preferred but not required.
Five or more years of experience in commercial real estate activities preferred but not required.
Three or more years in business development, underwriting, asset management or affordable housing finance
PREFERRED QUALIFICATIONS: Self-starter with an interest in community development and finance. This position is viewed as having upward potential based on performance and growth.
Well-developed reading, writing, verbal presentation, and mathematical skills.
Excellent time management skills, with the ability to effectively handle multiple tasks, and work under deadlines.
Ability to interpret data and identify issues.
Well-developed analytical and problem-solving skills.
Proficient computer skills, especially Microsoft Office applications and financial spreadsheets.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
Benefits: Take care of yourself and your family with U.S. Bank employee benefits. We know that healthy employees are happy employees, and we believe that work/life balance should be easy to achieve. That's why we share the cost of benefits and offer a variety of programs, resources and support you need to bring your full self to work and stay present and committed to the people who matter most - your family.
Learn all about U.S. Bank employee benefits, including tuition reimbursement, retirement plans and more, by visiting usbank.com/careers.
EEO is the Law Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal EEO is the Law poster.
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Salary range reflected is an estimate of base pay and is for the primary location. Base pay range may vary if an offer is made for work in a different location. Pay Range: $98,175.00 - $115,500.00 - $127,050.00
U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.