Senior Asset Manager - LIHTC
About The Position
At PNC, employees work together to deliver a strong customer experience and foster an inclusive workplace. The Senior Asset Manager is part of PNC's Multifamily Capital organization and is based in Louisville, Kentucky; Charlotte, North Carolina; Boston, Massachusetts; or Minneapolis, Minnesota. PNC describes itself as an in-office company and encourages candidates to discuss workplace expectations with their recruiter and hiring manager. The position is responsible for managing Low-Income Housing Tax Credit (LIHTC) investments through their full lifecycle, from construction through disposition. As the equity partner's representative, the Senior Asset Manager monitors asset performance, evaluates equity and credit risk, conducts site inspections, and provides strategic oversight to help meet investment objectives. The role also oversees medium- to high-complexity portfolios and borrower requests for securitized CMBS, Agency, SFR, SASB, or other portfolios of loans secured by income-producing commercial real estate. The role analyzes property operating statements, guarantor financials, loan covenants, and market economic data; interprets complex loan documents and servicing agreements; evaluates credit risk and recommends mitigants; and prepares formal recommendations for approval under applicable delegated authorities. It involves frequent communication with borrowers and other external parties, collaboration with internal business partners, and participation in process improvement initiatives and special departmental projects. Candidates should bring knowledge of affordable housing, construction management, and portfolio risk assessment. PNC will not sponsor employment visas or participate in STEM OPT for this position.
Requirements
- Bachelor's degree; a comparable combination of education, job-specific certifications, and experience, including military service, may be considered in lieu of a degree.
- Typically, 3 or more years of relevant or direct industry experience.
- Knowledge of affordable housing, construction management, and portfolio risk assessment.
- Appropriate knowledge, skills, and abilities for the role, including the ability to analyze financial information, assess risk, communicate effectively, and manage multiple priorities.
- No required certifications.
- No required licenses.
- No required or preferred language assessments.
- Must meet applicable FDIA Section 19 requirements and, for any registered role, applicable SAFE Act and/or FINRA requirements.
- Must not require employment visa sponsorship; PNC does not participate in STEM OPT for this position.
Nice To Haves
- Certifications are often desired, but none are required.
- Preferred skills include asset management, decision making, financial accounting, financial management, general ledger, investment management, and revenue recognition.
- Competencies include data gathering and reporting, decision making and critical thinking, effective communications, financial statement analysis, investment reporting, managing multiple priorities, market risk, negotiating, problem solving, and knowledge of the financial services regulatory environment.
Responsibilities
- Manage LIHTC investments throughout their lifecycle, from construction through disposition.
- Represent the equity partner by monitoring asset performance, evaluating equity and credit risk, conducting site inspections, and providing strategic oversight.
- Oversee medium- to high-complexity portfolios and borrower requests involving commercial real estate loans.
- Analyze property operating statements, loan guarantor financials, loan covenants, and market economic data.
- Review and interpret complex loan documents and servicing agreement requirements.
- Evaluate credit risk and propose risk mitigants while adhering to established procedures.
- Prepare and present formal recommendations for approval in accordance with applicable delegations of authority.
- Communicate frequently, verbally and in writing, with borrowers and their representatives, legal counsel, rating agencies, special servicers, and investors.
- Collaborate with internal business partners to support cross-departmental decision-making.
- Participate in process improvement initiatives and special departmental projects.
- Focus on customer needs and satisfaction in business decisions and customer solutions.
- Assess and manage risks associated with business objectives and activities in accordance with PNC's Enterprise Risk Management Framework.
Benefits
- Medical and prescription drug coverage, with a Health Savings Account feature
- Dental and vision options
- Employee and spouse/child life insurance
- Short- and long-term disability protection
- 401(k) with PNC match
- Pension plan
- Stock purchase plans
- Dependent care reimbursement account
- Back-up child and elder care
- Adoption, surrogacy, and doula reimbursement
- Educational assistance, including select fully paid programs
- Wellness program with financial incentives
- Maternity and/or parental leave
- Up to 11 paid holidays each year
- 9 occasional absence days each year, unless otherwise required by law
- 15 to 25 vacation days each year, depending on career level and years of service
- Performance-based incentive compensation
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What This Job Offers
Job Type
Full-time
Career Level
Senior
