Vice President - Lead Commercial Real Estate Portfolio Manager
Wells Fargo · Charlotte, NC · 2 wk ago
Management$119k–$224k/yrFull-time
About the role
Wells Fargo is seeking a Vice President, Lead Commercial Real Estate Portfolio Manager - Tax Credit to manage a portfolio of stabilized equity investments from some of our largest and most complex affordable housing clients. In this role, you will independently manage a portfolio of stabilized LIHTC/affordable housing real estate investments, serving as the primary point of contact for general partners and internal teams.
Responsibilities
- Monitor performance of stabilized assets, including review of third-party reports, inspections, market conditions, and site visits to identify risks or performance issues.
- Analyze financial statements, tax returns, partnership documentation, and sponsor financials to assess asset health, compliance, and credit quality.
- Identify emerging issues, develop recommendations, and execute action plans, including evaluating and communicating risk rating changes to credit partners and senior management.
- Review and underwrite general partner consent requests, such as loan refinances, partnership structure changes, property management changes, and reserve withdrawals.
- Provide leadership through coaching, mentoring, and supporting junior team members, while contributing to asset management process improvement initiatives.
- Oversee and track work outsourced to third-party vendors, ensuring accuracy, timeliness, and alignment with asset management standards.
Requirements
- 5+ years of Commercial Real Estate Portfolio Management experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
- 5+ years of LIHTC equity experience across underwriting, asset/portfolio management, financial analysis, or related roles, with strong knowledge of Section 42 regulations and affordable housing fundamentals.
- Proven ability to manage and assess LIHTC/affordable housing assets at all stages, including construction, lease-up, transition to stabilization, and ongoing operations.
- Strong ability to review tax returns, audits, and financial statements, with deep understanding of financial and tax-related issues affecting real estate investments.
- Experience reviewing complex CRE loan, investment, and partnership legal documents. Demonstrated ability to solve complex problems with accuracy.
- Strong organizational skills with demonstrated ability to manage multiple concurrent deals/projects.
- Proven ability to coach, mentor, or support team development.
- Ability to effectively summarize and present complex material to diverse stakeholders.
Desired Qualifications
- Strong knowledge of Section 42 regulations and affordable housing fundamentals.
- Experience managing and assessing LIHTC/affordable housing assets at all stages.
- Experience reviewing complex CRE loan, investment, and partnership legal documents.
- Proven ability to solve complex problems with accuracy.
- Strong organizational skills with demonstrated ability to manage multiple concurrent deals/projects.
- Proven ability to coach, mentor, or support team development.
- Ability to effectively summarize and present complex material to diverse stakeholders.
Job Expectations
- Ability to travel as needed.
- Willingness to work on-site in accordance with current office requirements.
- Ability to work additional hours as needed.