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Portfolio Manager
Union Bank
Walnut Creek, CA, United States
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Supervise an asset management staff as well as manage a portfolio of Low Income Housing Tax Credit (LIHTC) investments. These duties involve asset management, performance monitoring and manage post-closing matters for the equity portfolio. In addition, provide accurate data to the Origination team for preparation of reports for the permanent loan portfolio.
Major Responsibilities:
(25%) Evaluate and validate the risk grading of all equity investments. This is based on quarterly review of property operating results against the approved operating budget, monitoring construction status, lease-up status, LPA compliance, reserve levels, and capital account issues.
(40%) Post Closing Matters: Manage the capital contributions process, collection of the annual audits and tax returns, annual site inspection, insurance issue, property tax issues, OCC compliance, tax credit compliance, work with general partners on all property level issues and provide support to Origination Team in the overall client management process.
(15%) Manage the Disposition of Properties in conjunction with the Finance and Accounting Department as properties reach the end of their compliance period.
(20%) Supervise: Provide supervision to assigned Asset Manager Level I and II personnel. This task includes reviewing capital contributions, selected reporting to both internal and external audiences, and other issues as they arise.
In addition, the Asset Manager III may be expected to establish and manage relationships with TCAC auditors.
Qualifications
Typically requires a Bachelor's degree in business, real estate, regional planning or public policy with five plus years of real estate underwriting and/or portfolio management experience or equivalent.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.