Modeling Manager
Locations: Chicago, IL
About the Employer
National Equity Fund, Inc. (NEF) is a leading non-profit, multi-family, affordable real estate investment manager with a mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing.
Through its Low-Income Housing Tax Credit (LIHTC) syndication platform and its lending and investing platforms, NEF generates opportunities rooted in its vision that all individuals and families across the country have access to stable, safe, and affordable homes.
Since being founded in 1987, NEF has invested over $24.5 billion, representing 242,500 new or preserved affordable homes for individuals, families, and communities in need across the country. NEF is Chicago-based and has donated more than $240 million in grants to support its affiliate LISC's nationwide community development work.
NEF strives to be a diverse, equitable, and inclusive place to work so that its team has the experience and knowledge to effectively support partners and communities.
Role Summary
The Modeling Manager will be responsible for the review of excel spreadsheet for Low Income Housing Tax Credit projects at the time of initial bid and throughout the project life cycle, to ensure accuracy and optimization of the model to address tax and underwriting issues and meet investor needs.
The role works in a collaborative team environment to troubleshoot and redesign models, as needed, including designing, managing, and adapting NEF’s primary underwriting spreadsheet model.
What You’ll Do
- Responsible for initial credit review of projections for new project bids, as assigned, to ensure accurate inputs and outputs in the Excel model.
- Utilize the NEF bid review system to request additional information and clarification during the bid review process.
- Responsible for reviewing and troubleshooting all aspects of the projections for assigned projections throughout the project life cycle, including during bid review, underwriting, and investor review.
- Responsible for timely review and comment on projections in conjunction with the preparation of the Investment Proposal, and pre-closing for assigned projects.
- Recommend changes, if applicable, that may enhance yield or address structuring issues.
- Manage investor and credit requests for stress analyses for multi-fund closings and Investment Proposal packages.
- Conduct a closing audit of each assigned project as part of the closing to ensure projections accurately reflect technical and business terms.
- Work with the Lower Tier change team to update models and track requested changes.
- Manage LT change requests, as assigned.
- Assist other departments, including Fund Accounting and Investor Relations, in evaluating and modeling any unique requirements for assigned projects.
Required Qualifications
- Bachelor’s degree in business, accounting, economics, mathematics, or finance.
- Strong analytical skills and proficiency in Excel.
- Ability to manipulate, design, and troubleshoot complex Excel underwriting spreadsheets.
- At least 4 years of experience in underwriting, structuring real estate projects, and credit analysis.
- Ability to multitask on numerous projects and tasks at the same time.
- Ability to communicate and work effectively in a team setting.
Preferred Qualifications
- CPA or a Master’s degree preferred.
- Specific knowledge of tax issues affecting limited partnerships and Section 42 projects is highly preferred.
- Experience with credit analysis, debt structuring, and partnership modeling.
Compensation & Benefits
We offer a competitive salary, along with a comprehensive benefits package.
