Community Development Investment Manager

Citizens Financial Group•Boston, MA

1d•Hybrid

About The Position

The Community Development Investment Manager will support the Community Development Investment team in executing the Bank’s CRA and tax-advantaged investment objectives. The Community Development Investment Manager will work independently and be able to step in immediately with primary responsibility for the underwriting and closing of low-income housing tax credit (“LIHTC”) equity investments, as well as other community development investment vehicles. The qualified candidate must have excellent analytical, organizational, and communication skills; the ability to identify and manage risk; and the ability to interact comfortably with senior management and credit reviewers, as well as external parties such as tax credit syndicators, legal counsel, and real estate developers/sponsors. Deep working knowledge of the LIHTC program and a demonstrated track record as the lead underwriter/closer on LIHTC transactions are essential. Working knowledge of other federal and state tax credit programs is a plus.

Requirements

Bachelor’s degree. Accounting, finance or business major preferred.
Minimum of 6-8 years of experience in tax-advantaged and community development investments, including significant direct experience underwriting and closing LIHTC equity investments in a primary/lead role at a bank investor or tax credit syndicator, and the ability to execute transactions independently from day one.
Must be highly proficient with Microsoft Office Suite with a heavy emphasis on Excel and Word and the ability to prepare, analyze, and understand complex financial projections.
Must demonstrate strong analytical and interpersonal skills.
Must demonstrate effective oral and written communication skills.
Must demonstrate ability to effectively manage and analyze large volumes of diligence, including sensitive and confidential information.
Must demonstrate strong initiative and the ability to own complex projects and investment closings independently (including managing multiple workstreams and external parties), while maintaining focus on accuracy and attention to detail.
Must demonstrate ability to excel and deliver quality work in a timely manner in a remote work environment.
Must demonstrate team-first approach and strong sense of accountability.
Must demonstrate professionalism/ethics (Trust, Respect, Integrity, Attitude, Commitment).

Nice To Haves

Experience with HTC, NMTC, other special purpose tax credits, and community development investments such as SBICs and loan funds is a plus.

Responsibilities

Lead the underwriting and execution of proprietary tax-advantaged equity investments (primarily LIHTC), including identification and management of key risks from diligence through closing
Independently manage syndicator relationships, transaction diligence, underwriting, and internal credit approval, including preparation of complete investment packages and credit-ready materials
Prepare and analyze financial models and projections for tax-advantaged equity investments, with a primary focus on LIHTC equity, and exposure to other programs such as Historic Tax Credits (“HTC”), New Markets Tax Credits (“NMTC”), and other special purpose tax credits
Negotiate and oversee documentation for LIHTC and other tax credit investments, including upper- and lower-tier partnership agreements
Analysis of the financial capacity of counterparties, including tax credit syndicators and lower-tier guarantors
Drive the closing process end-to-end, coordinating with third parties including tax credit syndicators and outside legal counsel to resolve issues and meet closing timelines
Special projects as assigned.