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Description

Summary:

The Huntington Community Impact Capital (“CIC”) Project Manager (underwriter) will lead tax credit equity and debt underwriting and project management of affordable housing LIHTC projects and manage the internal relationships with the closing teams and external developer relationships. The project manager will report to the Director of Project Management. They will be primarily responsible for:

+ Lead underwriting and closing for debt facilities and equity investments, and coordinating successful, timely closings with all internal and external groups (e.g., closers, loan administrators, RETS, third-party reports, counsel, other lenders, etc.). Ensure proposed tax credit financed project complies with all tax provisions required to maximize investment value, including 704(b) capital account analysis. Work with counsel to negotiate partnership agreement terms that protect the Banks’ ownership interest in LIHTC investments and ensure consistency between the Bank’s lending documents and partnership documents.

+ Acting as primary contact with the developer during the underwriting and closing process with an emphasis on building relationships

+ Financial modeling of tax benefits and capital account analysis, sources and uses, capital stack, development budget, operating budget pro forma, cash flow, benefit schedule, and other relevant analyses

+ Intermediate proficiency in understanding and identifying associated risks (especially those particular to tax credit developments and IRC Section 42), and the ability to describe and/or devise mitigants.

+ Drafting and presenting comprehensive memoranda summarizing the transaction, including deal structure, budgets, guarantor analysis, compliance, risks and mitigants, risk ratings, and final recommendations. Memos should be of high quality and based on sound underwriting.

+ Assisting in continuous improvement and development of various CIC infrastructure projects

+ Collaborating with other CIC colleagues to create Best in Class project management, underwriting, closing, and asset management platform

+ Working with CIC business development on analyzing and structuring opportunities prior to issuance of term sheets

+ Acting as a key point of contact with Credit in investments and loans via regular and substantive updates to key issues

+ Training junior employees and analysts

+ Demonstrating strong stewardship over Huntington’s financial and community impact interests internally and in the communities where we invest

+ Representing the Bank in industry events and participate in industry leading discussions, including policy

Basic Qualifications:

+ Bachelor’s degree

+ 4+ years of LIHTC experience

+ 2+ years of LIHTC (or CRE) underwriting and closing experience

Preferred Qualifications:

+ Bachelor’s degree from accredited university. Finance, accounting, or business degree preferred.

+ 6+ years of LIHTC experience

+ 4+ years of LIHTC (or CRE) underwriting and closing experience

+ Tax credit syndications experience

+ Technical knowledge of the LIHTC program

+ Familiarity with other tax credit programs such as State and Historic Tax Credits and debt products

+ Intermediate proficiency in excel modeling of debt and equity investments

+ Intermediate knowledge of limited partnership agreements and loan documents with focus on guarantees and security

+ Intermediate understanding of analyzing sponsor financial statements, real estate owned schedules, contingent liabilities, organizational structures, and business plans

+ Strong presentation skills to Credit and other internal stakeholders

#LI-MK1

Exempt Status: (Yes = not eligible for overtime pay) (No = eligible for overtime pay)

Yes

Workplace Type:

Office

Our Approach to Office Workplace Type

Certain positions outside our branch network may be eligible for a flexible work arrangement. We’re combining the best of both worlds: in-office and work from home. Our approach enables our teams to deepen connections, maintain a strong community, and do their best work. Remote roles will also have the opportunity to come together in our offices for moments that matter. Specific work arrangements will be provided by the hiring team.

Compensation Range:

$70,000.00 - 140,000.00 Annual Salary

The compensation range represents the low and high end of the base compensation range for this position. Actual compensation will vary and may be above or below the range based on various factors including but not limited to location, experience, and performance.  Colleagues in this position are also eligible to participate in an applicable incentive compensation plan.  In addition, Huntington provides a variety of benefits to colleagues, including health insurance coverage, wellness program, life and disability insurance, retirement savings plan, paid leave programs, paid holidays and paid time off (PTO).

Huntington is an Equal Opportunity Employer.

Tobacco-Free Hiring Practice: Visit Huntington's Career Web Site for more details.

Note to Agency Recruiters: Huntington will not pay a fee for any placement resulting from the receipt of an unsolicited resume. All unsolicited resumes sent to any Huntington colleagues, directly or indirectly, will be considered Huntington property. Recruiting agencies must have a valid, written and fully executed Master Service Agreement and Statement of Work for consideration.