Senior Asset Manager-LIHTC
About The Position
At Bank of America, the Senior Asset Manager is responsible for oversight and management of a Direct Low Income Housing Tax Credit (LIHTC) portfolio of approximately 60–70 assets, including both development and stabilized assets. The role identifies, classifies, quantifies, and mitigates risk; monitors assets through development, conversion, and stabilization; and maintains strong relationships with General Partner clients while delivering first-class service. The position also analyzes and negotiates capital transactions, partnership amendments, and waivers; works with General Partners and consultants on compliance issues; reviews tax and audit materials; and coordinates with internal partners to maintain accurate portfolio data. The role is based at the specified Boston office and is described as first shift, 40 hours per week.
Requirements
- At least 7 years of asset management experience, including at least 5 years in the LIHTC industry.
- Strong understanding of real estate spreadsheets, audits, and tax returns.
- Ability to prepare meaningful pro formas.
- Strong understanding of capital accounts.
- Strong negotiation skills.
- Strong communication and interpersonal skills.
- Strong understanding of LIHTC benefit schedules.
- Ability to identify and resolve compliance issues.
- Completion of at least one LIHTC compliance course.
- Ability to work as a team player.
Nice To Haves
- BA or BS.
- Experience negotiating end-of-life asset transactions.
- Experience in workouts.
- Experience with HTC and state credits.
Responsibilities
- Oversee and manage a Direct LIHTC portfolio of approximately 60–70 development and stabilized assets.
- Identify, classify, quantify, and mitigate risk.
- Monitor assets through the development phase, conversion, and stabilization.
- Conduct site visits according to risk classification.
- Prepare semi-annual Watched Asset Reports and present them during Watched Asset Meetings.
- Analyze and negotiate capital transactions, including refinancing and Year 15 or early exits.
- Analyze and negotiate partnership amendments in coordination with counsel.
- Analyze and negotiate waivers as needed.
- Work with General Partners and, when needed, consultants to address compliance issues.
- Review and analyze K-1s, tax returns, and audits according to policy and procedures.
- Prepare tax return and audit checklists for each investment.
- Prepare stay/leave analyses as necessary.
- Work with WCAAs to maintain accurate data in CARMA and EDR.
- Maintain strong relationships with General Partner clients and deliver first-class service.
- Work cross-divisionally with internal partners as appropriate.
Benefits
- Paid time off.
- Access to employee resources and support.
- Eligibility to participate in the annual discretionary incentive plan.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
No Education Listed
