J.P. Morgan’s Community Development Tax Credits is part of the firm’s Commercial Real Estate Division within Commercial Banking. Commercial Banking serves more than 30,000 clients, including corporations, municipalities, financial institutions, real estate developers, and not-for-profit entities with annual revenues generally ranging from $20 million to $2 billion. The Firm's broad platform positions the Commercial Bank to deliver extensive product capabilities - lending, treasury services, investment banking, and asset management - to meet our clients' domestic and international financial needs.
The successful Candidate will be joining a very successful team of 20 professionals who are dedicated to investing in commercial real estate projects, including Historic Tax Credits, New Markets Tax Credits, and loans to Community Development Financial Institutions. From 2005 the Community Development Tax Credits (CDTC) team has invested more than $5 billion in NMTC and HTC projects, making JPMorgan the leading player in the growing market for tax credit equity.
As part of an integrated deal team, the successful Candidate will be responsible for performing cash flow modeling (including EBITDA, tax, economics, accounting, and various sensitivity analysis) to structure and analyze historic tax credit investment opportunities (principally commercial and multi-unit residential tax credit transactions). The Candidate will be a key member in evaluating investment opportunities and driving business strategy and is primarily charged with modeling and structuring investments by engaging team members in the utilization of sizable and intricate Excel spreadsheets. Within this work, extensive analysis is performed on each transaction in terms of economic returns and accounting as well as how such transaction structures perform under various downside scenarios. The Candidate’s principal responsibility will be to ensure the team conducts thorough economic modeling of each transaction, but his or her responsibilities can expand into all areas necessary to get a deal from the initial conceptual phase through to closing and coordination with the CDTC Portfolio Management team for post-closing cash flow return analysis. In that regard, the Candidate will have both external client contact and interactions with internal management which require strong communication skills in order to convey the results of their analysis clearly and efficiently during meetings, through presentations and proposals, as well as summarizing due diligence issues and documentation. Note that given the CDTC Investment team’s current strong transaction pipeline and business need, preference will be given to those who already have experience in the tax credit equity market and related economic modeling. A successful candidate will be a strong team player, capable of juggling multiple assignments at one time and equipped with applicable skills and experience to make an immediate contribution.
- BA or BS degree required
- MBA, CFA or CPA desirable
- 7-10+ years of tax credit modeling and return analysis
- Strong analytical capabilities (including partnership tax and accounting knowledge)
- Extensive economic modeling experience and a strong proficiency in Microsoft Excel
- Real estate related project finance experience is required and historic tax credit project finance experience highly desirable
- Excellent written and verbal communication skills
- A firm understanding of corporate finance required
- Willingness to be flexible and desire to work in a fast-paced team oriented environment
The final officer title and job grade is at the discretion of the firm and will be discussed at the time of offer. It may be different than what is listed on the requisition based on candidate experience level.
- Accounting / Control
- Financial Analysis
7+ to 10 years