Huntington National Bank Community Development Equity Investments - Asset Manager in Columbus, Ohio
Huntington Bank is committed to providing capital to assist in the development of affordable housing and the development of neighborhoods and communities where it does business. The Community Development Lending and Investment business primary objective is to help the Bank fulfill that mission.
This position is an important role in managing assets within The Huntington Community Development Corporation's portfolio of Section 42 Low Income Housing tax credit, New Markets tax credit, Historical tax credit projects, loan funds, and other community development investments. The Community Development Portfolio Manager position is responsible for evaluating and monitoring assigned, complex portfolios for purposes of credit quality, risk management and/or portfolio analysis.
Identifies credit quality issues, potential portfolio risks and/or economic risk. Monitors the portfolio for compliance with corporate and regulatory requirements.
Evaluates and reports on the portfolio performance and forecasts future performance trends.
Informs management of potential credit and/or economic portfolio risk and recommends strategies to minimize the risk.
Maintains all documentation on the assigned portfolio. Responsible for onboarding of new investments with assistance from Senior Underwriter, creating electronic folders on shared drive and uploading all pertinent documentation files to Investment Central, and scheduling and disposition of investments at maturity
Specific daily tasks will include collecting and analyzing investor reporting data from Syndicators, tax returns, audits, and quarterly financial statements, compiling data into asset management reports with quarterly risk grading matrix for Proprietary Fund, Multi-Investor Fund and Direct Investments underlying partnerships utilizing tax credits, and as requested by the Portfolio Risk Manager. Prepare data and charts for quarterly Portfolio Review and Strategy Committee meetings.
Prepare semi-annual reviews and for Investments on the Emerging Problem Investment list and present the EPI Investments to the EPI Working Group
Prepare annual Syndicator Risk Rating of Huntington's Tax Credit Syndicators
Conduct site visits with the Senior Underwriter during the underwriting of new Proprietary tax credit investments.
Conduct site visits as needed for distressed proprietary investments on the Watch List.
Review and process equity installments (capital calls from Syndicators) and construction draws (as applicable), monitoring of limited partnership agreements to ensure HCDC's investments are maximized and protected.
Periodic updates of tax credit delivery schedules for Tax Department along with annual summary of K-1s received.
Implement proactive strategies to resolve operational, financial and compliance issues; as well as, provide workout and repositioning solutions for distressed assets with operating, compliance and/or partner/developer issues.
Work on special projects and team projects as assigned.
Up to 15% travel required, with some overtime at certain times of the year, mainly in Spring & Fall and 45 days after each semiannual period (June 30 and December 31)
Adheres to bank policies and procedures and complies with legal and regulatory requirements.
Follows, or in some cases establishes, as required, effective controls and processes to ensure risks are measured, monitored and controlled and compliance requirements are adhered to on an on-going basis.
Keeps abreast of risk-related changes that may impact assigned work functions and processes.
Minimum of 3 years of LIHTC Asset Management, LIHTC Commercial Real Estate Underwriting or Commercial Real Estate Portfolio Management experience
1 year LIHTC asset management preferred
LIHTC compliance certification preferred
Commercial credit training preferred
MS Suite proficient (Excel, PP, Outlook, Access)
Excellent verbal and written communication skills
Attention to detail
Ability to work with deadlines
Strong organizational skills
EEO/AA Employer/Minority/Female/Disability/Veteran/Sexual Orientation/Gender Identity
Tobacco-Free Hiring Practice: To demonstrate our commitment to health and wellness, Huntington will not hire any candidate who uses tobacco or any nicotine product including, but not limited to, cigarettes, cigars, pipes, smokeless tobacco, chewing tobacco, snuff or snus, nicotine gum, the nicotine patch or any other kind of nicotine replacement product (where permitted by applicable state law). Candidates applying for positions in those states will be notified of this practice during the recruitment process and, if offered a position, will be screened for cotinine (to check for use of tobacco and/or nicotine products and/or nicotine replacement therapy products) before they begin employment. If the position to which you're applying is covered by this practice, the job application will provide greater detail as to what constitutes tobacco use.
Huntington does not accept solicitation from Third Party Recruiters for any position.