Job Information
Wells Fargo Affordable Housing Tax Credit Asset Manager in CHARLOTTE, North Carolina
At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
In this role, you will:
Provide a single point of contact with our clients and internal departments regarding assigned assets
Make decisions in complex and multifaceted situations requiring exceptional understanding of the function, policies, procedures, and compliance requirements that influence and lead broader work team to meet deliverables and drive new initiatives
Collaborate and consult with Commercial Real Estate peers, colleagues, and mid level to more experienced managers to resolve issues and achieve goals
Identify and analyze issues, and recommend and execute corrective action plans
Monitor investment and property or fund performance, including construction and lease-up progress
Analyze tax returns and property and client financial statements
Review requests for capital contributions and reserve releases, including calculations of adjustments to capital contributions based on agreements.
Underwrite general partner / fund manager partners consent requests (including loan refinances and changes in partnership structures)
Negotiate and execute the exit of Wells Fargo from investment partnerships
May need to assess markets in which assets reside, identify market and sub-market risks and issues
Lead projects, teams, or serve as a peer
Participate and/or supervise projects related to Wells Fargo's internal asset management process improvement
Track any tasks outsourced to third parties
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
Required Qualifications:
- 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
Desired Qualifications:
5+ years of experience in the Low-Income Housing Tax Credit (LIHTC) industry with one or more of the following functional roles: Real Estate Underwriting, Portfolio Management, Fund Management, Asset Management (Tax Credit Asset Management a plus), Real Estate Workouts, Financial Analysis, Accounting
Familiarity and ability to review tax returns and audits for LIHTC partnerships
Knowledge of IRS Code Section 42 regulations and compliance requirements
Familiarity with Real Estate partnership and Real Estate fund agreement legal documents
Ability to effectively underwrite perm loan conversions
Experience negotiating Investor Limited Partner (ILP) exits from Real Estate Partnerships
Experience managing multifamily housing projects during construction
Ability to read and understand complex commercial real estate loan or real estate investment documentation, securitization documents, including pooling and servicing agreements and related documentation
Advanced knowledge of financial issues and tax issues pertaining to Real Estate
Customer service focus with experience actively listening, eliciting information, comprehending customer issues/needs, and recommending solutions
Extensive knowledge and understanding of tax credit and income producing real estate
Experience with tax credit syndication
Strong attention to detail and accuracy skills
Advanced Microsoft Excel skills
Strong organizational, multi-tasking, and prioritizing skills
Strong analytical skills and ability to solve complex technical problems
Strong communication skills and ability to articulate complex material to a diverse audience
Strong project management skills including the ability to handle multiple projects concurrently
Experience with coaching, training, and mentoring
Bachelor's or Master's degree in Real Estate, Finance, Accounting or related field
Tax Credits is not a functional role
Job Expectations:
Ability to travel up to 10% of the time
Ability to work additional hours as needed
This role requires at least 4 days in the office
Additional Information:
Pay Range: $150,000 - $175,000 USD Annual
May be considered for a discretionary bonus, Restricted Share Rights or other long-term incentive award
Relocation assistance is not available for this position.
The position is not eligible for Visa sponsorship.
Posting may come down early based on applicant volume.
This position is subject to FINRA Background Screening Requirements, including successful completion and clearing of a background check. Internal transfers are subject to comply with 17 CFR 240.17f-2 of the Securities Exchange Act of 1934 and FINRA Bylaws, Article III, Section 3, which states that Associated Persons should not be subject to statutory disqualification. Successful candidates must also meet ongoing regulatory requirements including additional screening and are required to report certain incidents.
Pay Range
$120,400.00 - $287,600.00
Benefits
Wells Fargo provides all eligible full- and part-time employees with a comprehensive set of benefits designed to protect their physical and financial health and to help them make the most of their financial future. Visit Benefits - Wells Fargo Careers for an overview of the following benefit plans and programs offered to employees.
401(k) Plan
Paid Time Off
Parental Leave
Critical Caregiving Leave
Discounts and Savings
Health Benefits
Commuter Benefits
Tuition Reimbursement
Scholarships for dependent children
Adoption Reimbursement
Posting End Date:
10 Jun 2024
* Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
Company: WELLS FARGO BANK
Req Number: R-365023-3
Updated: Mon Jun 10 01:36:03 UTC 2024
Location: CHARLOTTE,North Carolina