Regions Affordable Housing Asset Manager

Locations: Atlanta, GA | Birmingham, AL | Great Neck, NY | Charlotte, NC

At Regions, the Regions Affordable Housing (RAH) Asset Manager is responsible for monitoring and measuring the financial performance of Low-Income Housing Tax Credit (LIHTC) investment assets to optimize value for investor and developer partners. In addition, this role performs financial analysis; schedules and execute site visits and work closely with respective general partners and property managers to ensure long-term viability of the LIHTC asset. This position reports to the Regional Team Leader or Director of Asset Management and provides a dynamic opportunity to work with an established real estate investment business unit within Regions Bank.

• Oversees a portfolio of stabilized LIHTC properties
• Reviews and understands limited partnership agreements, regulatory agreements, financing documents and other sources to determine enforceability of terms, financing structures and constraints, as needed
• Reviews year-end financial audits for respective LIHTC partnerships
• Reviews quarterly financial statements and annual statements perform income and expense analysis, balance sheet analysis and budget to actual comparisons, and report quarterly to investors
• Analyses and execute consent requests for general partner, property management and/or limited partner as outlined in the Limited Partnership Agreement and Regions’ internal approval authorization guidelines.
• Identifies properties with operational issues, investigate causes and facilitate problem resolution; work to resolve issues through collaboration with general partners, property managers, lenders, and governmental/regulatory entities
• Complies with reporting requirements of internal partners, including risk management, internal audit, credit risk review, and investor services, and others
• Interacts  with diverse audiences utilizing appropriate and effective  communication tools and techniques
• Conducts all necessary annual site visits, more frequently for properties with concerns
• Evaluates property management performance as required
• Monitors reserve balances and oversees requests for release of replacement and operating reserves
• Assigns risk ratings, prepares Watch List reports, develops action plans for Watch List assets and ensures implementation of actions to correct problems
• Completes assigned processes or programs and acts autonomously on most decisions
• Participates in the recruitment, development and training of junior asset managers
• Handles more challenging assets and/or partners, independently
• Meets sometimes less clearly defined demands and influences junior colleagues
• Assists Relationship Managers  and Funds requests
• Releases provisions calculations
• Other duties as directed or special projects assigned by manager

 This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.

 This position is incentive eligible.

 
Requirements

• Bachelor’s degree in Accounting, Business Management, Engineering/Architecture, Finance, Real Estate or related field
• Six (6) years of experience in real estate and/or multi-family housing as an asset manager with stabilized and/or special assets portfolio
• Experience in LIHTC
• Advanced training in market analysis and complex real estate negotiations experience
• Ability to travel approximately 25% of time

 Preferences

• Master’s in Business Administration (MBA)
• Commercial banking experience

 Skills and Competencies

• Ability to understand underwriting, debt structures, loan agreements and limited partnership agreements
• Ability to work closely with third party regional managers, property managers and leasing agents to provide direction for and oversight of business plans, budgets, forecasts, leases, analysis and approvals
• Ability to work closely with general partners, limited partners, general counsel and senior management to provide direction for and oversight of partnership related duties and responsibilities
• Ability to work independently and collaboratively in a fast-paced environment managing multiple projects concurrently
• Detail-oriented
• Proficiency in Microsoft Office (Word, Excel, PowerPoint)
• Strong ability to be adaptable and flexible
• Strong verbal and written communication
• Strong work ethic and self-motivation

 This position may be filled at a higher level depending on skills, qualifications and years of experience of the most successful candidate.