Director, Underwriting & Closings

About the role

The Director, Underwriting & Closings, is a working manager who supervises and guides a team of Project Managers and other assigned support staff in the final underwriting and closing of tax credit investments for CAHEC’s equity funds. The position participates in and leads a functional group responsible for the scheduling and closing of complex, real estate transactions in a manner that respects industry relationships and standards.

Responsibilities

• Managing the day-to-day operations of the team and recruiting, supervising, coaching, and mentoring team members.
• Actively participating in strategic planning for the department as well as the continual enhancement of policies and procedures.
• Establishing and communicating with participants a closing schedule and key deliverables to meet equity closing objectives.
• Collaborating with development team, internal staff, and CAHEC counsel to manage the collection and review of due diligence while maintaining quality control over the process.
• Collaborating with internal staff to prepare investment reports, to review key analytics and underwriting, and to obtain required approvals for equity closings.
• Collaborating with CAHEC counsel to produce and finalize equity closing agreements consistent with the approved investment conditions.
• Closing equity investments and transitioning closed investments to CAHEC’s Asset Management group.

Requirements

• Bachelor’s degree in project management, operational research, real estate, finance, business, city planning, or related field; or an equivalent combination of education and comparable work experience.
• Minimum five (5) years progressively responsible work experience relevant to commercial real estate development, finance or lending; and direct work experience and knowledge of multi-family housing development and minimum two (2) years progressively responsible work experience relevant to the management functions of supervising and coaching direct reports, operational planning, and budgeting.

Qualifications

• General knowledge of commercial real estate development, construction, corporate structuring, taxation, property management, and the Low-Income Housing Tax Credit Program (Section 42 of the IRC) is required.
• The ability to manage multiple, current priorities and easily adapt to changing priorities is necessary as is the ability to think analytically to develop and recommend effective solutions is needed.
• Proven ability to analyze and develop complex financial models in MS Excel as well as negotiating complex transactions tactfully is required.
• Excellent interpersonal and communications skills (written and verbal) are needed as is the ability to foster effective working relationships with peers and partners.