New Market Tax Credit Director of Asset Management

About the role

The NMTC Director of Asset Management will oversee a team of asset managers responsible for a portfolio of NMTC investments and the administration of Huntington’s Community Development Entity.

Responsibilities

• Manage a team of asset managers responsible for overseeing both direct and fund investments, coordinating reporting needs, equity fundings, QLICI loan maintenance, site visits, consents, and ongoing coordination with all internal groups (e.g., loan administrators, credit, etc.)
• Hire employees and ensure appropriate training;
• Maintain essential knowledge of the current state of law/regulation across the tax credit industry;
• Review, approve, and elevate (as appropriate) action plans to mitigate portfolio risks in a manner consistent with industry standards and business line objectives;
• Work directly with the Director of Syndications to ensure timely analysis and reporting required to assemble, service, and manage funds syndicated to third party investors;
• Act as part of NMTC leadership team in building various CIC and NMTC Division infrastructure projects, including specific processes and procedures for the Asset Management team;
• Ensure design and execution of processes and procedures to accurately identify, explain, and minimize portfolio risk;
• Identify and execute on opportunities to maximize portfolio value through forward looking management of items such as capital accounts, exit strategies, syndication opportunities;
• Administer Huntington’s Community Development Entity (CDE), including development, implementation and maintenance of operating procedures and reporting systems to monitor and manage compliance with NMTC Allocation Agreements and with transaction-specific obligations;
• Ensure efficiency and accuracy of reporting outputs, including but not limited to tax credit delivery, investment risk ratings, CDE compliance reporting, data aggregation and compilation, forecasting, and benefit delivery;
• Monitor and report on a portfolio of equity investments and loans on projects utilizing NMTCs to ensure ongoing compliance;
• Work with CDEs to capture necessary data points on the investment portfolio;
• Ensure NMTC program compliance requirements with CDEs are maintained, while proactively resolving any challenges;
• Perform in-person property inspections to assess the community impacts of projects within the portfolio;
• Coordinate with internal stakeholders to facilitate the unwind of NMTC investments at the end of the compliance period;
• Review annual tax returns for NMTC investments;
• Represent the bank in industry events and participate in industry leading discussions including policy;
• Encourage Huntington’s values of Can-Do Attitude, Forward Thinking and Service Heart.

  Qualifications

  • Bachelor’s degree from accredited university
  • 10+ years of Tax Credit investment experience with focus on NMTC with asset management
  • Advanced understanding of Tax Credit investments and associated legal/regulatory environment, limited partnership agreements and loan documents with focus on guarantees and security
  • Strong analytical and problem-solving skills with careful attention to detail
  • Demonstrated experience forming and presenting data driven conclusions to Credit Administration and other internal stakeholders
  • Prior experience working for a national tax credit syndicator is a plus
  • Relevant real estate experience with focus on asset management
  • Understanding of bank’s credit profile, credit policies, and risk management objectives
  • Advanced degree or certification (e.g., JD, MBA, CPA, CFA, etc.) or equivalent experience
  • Reasonable exposure to HTC and NMTC preferred.