CIC Project Manager II
Locations: Cleveland, OH, Chicago, IL, Cincinnati, OH, Clayton, MO, Dallas, TX, Denver, CO, Columbus, OH, Detroit, MI, Charlotte, NC, New York, NY
Requisition ID: R0066514
Role 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 internal relationships with closing teams and external developer relationships.
The Project Manager reports to a Project Manager Team Lead.
What You’ll Do
- Lead underwriting and closing for debt facilities and equity investments, coordinating successful and timely closings with internal and external groups (e.g., closers, loan administrators, RETS, third-party reports, counsel, other lenders)
- Ensure proposed tax credit-financed projects comply 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 Bank’s ownership interest in LIHTC investments and ensure consistency between lending and partnership documents
- Act as primary contact with the developer during underwriting and closing, with an emphasis on building relationships
- Perform financial modeling of tax benefits, capital account analysis, sources and uses, capital stack, development budget, operating budget pro forma, cash flow, benefit schedule, and other relevant analyses
- Identify associated risks, especially those particular to tax credit developments and IRC Section 42, and describe and/or devise mitigants
- Draft and present comprehensive memoranda summarizing the transaction, including deal structure, budgets, guarantor analysis, compliance, risks and mitigants, risk ratings, and final recommendations
- Assist in the continuous improvement and development of various CIC infrastructure projects
- Collaborate with CIC colleagues to create a Best in Class project management, underwriting, closing, and asset management platform
- Work with CIC business development on analyzing and structuring opportunities prior to issuance of term sheets
- Act as a key point of contact with Credit in investments and loans via regular and substantive updates on key issues
- Train junior employees and analysts
- Demonstrate strong stewardship over Huntington’s financial and community impact interests internally and in the communities where we invest
- Represent the Bank in industry events and participate in industry-leading discussions, including policy
Required Qualifications
- Bachelor’s degree from an accredited university (Finance, Accounting, or Business degree)
- 6+ years of LIHTC experience
- 4+ years of LIHTC (or CRE) underwriting and closing experience
Preferred Qualifications
- 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 a 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
- Embrace Huntington’s values of Can-Do Attitude, Forward Thinking, and Service Heart. Focus on Action
- Developed and focused growth mindset with the ability to pivot and be nimble in a growing division
- Knowledge of financial, accounting, and/or technology systems
- Ability to work under tight deadlines and under pressure
- Ability to identify problems and recommend appropriate solutions
- Natural intellectual curiosity to assist in growing products and services
Compensation & Benefits
Exempt Status: Yes
Workplace Type: Office
Certain positions outside the branch network may be eligible for a flexible work arrangement. Specific work arrangements will be provided by the hiring team.
Compensation Range:
$70,000.00 - 140,000.00 Annual Salary
Colleagues in this position are also eligible to participate in an applicable incentive compensation plan. 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).
Equal Opportunity Statement
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.