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Job Description

Job Summary:

Under limited supervision, uses specialized knowledge and skills obtained through experience, specialized training or certification to support new business endeavors, monitor properties through the construction and lease up process and monitor assigned properties in portfolio through stabilization. Monitor Low Income Housing Tax Credit (LIHTC) compliance and property management activities. Complete complex portfolio analysis, prepare reports, and present results to leadership team. Provides support and analysis to general partners and management companies with the goal of increasing profitability and reducing risk. Minimal to moderate supervision is provided to perform varied work that is somewhat difficult in character requiring some evaluation, originality and ingenuity to make moderately complex decisions. Leads defined work or projects of moderate scope and complexity.Identifies, researches, and resolves complex problems.

Essential Duties and Responsibilities:

• Oversee New Construction and Acquisition/Rehab properties that are directly assigned to their portfolio.

• Completes portfolio analysis using professional knowledge and experience along with internal company software and Excel to identify risks and trends; prepares professional presentations; and presents results to supervisor and management team.

• Analyzes Financial Statements, Leasing Reports, Tenant Income Rent summaries, Inspection Reports, General Partner Certifications, Loan Documents, Regulatory Agreements, Legal Partnership Agreements and other documents supplied by general partners.

• Performs random audits of tenant files and follow up on all non-compliance issues including IRS form 8609 and 8823. .

• Develops and maintains relationships with general partners and developers.

• Establishes relations with management agents, housing agencies, investors partners and lenders interacting with properties in the assigned portfolio.

• Identifies potential problems with construction and lease up phases based on property performance and forecasted trends and report to management for direction.

• Track properties in lease up which are at risk of reduction or loss of credit delivery and work with internal group, management company and general partner to positively impact the property to minimize credit risk.

• Provides advisory and support to facilitate the improvement of the assets in the assigned portfolio.

• Effectively manage risk by determining the appropriate property performance risk rating for each property in the assigned portfolio

• Recommends a property be placed on or removed from the WATCHLIST.

• Under limited supervision, develops a plan for the WATCHLIST properties in their respective portfolios, with feedback and guidance of management, and documents and updates the steps to be taken.

• Under limited supervision, underwrites deal changes initiated by partners, provides detailed written analysis, and presents recommendations to RJAHI investment committee members and investors.

• Provide a review and recommendation relative to the assignment of new managing agents through review of operations, staffing, policies and procedures, business references, etc.

• Determines what variances exist compared to the original acquisition model.

• Maintains a thorough and current record of property activity in the property software database.

• Prepares investor and developer reports as necessary.

• Provide reporting to Director of Transitional Management regarding the proposed plan of action, timeline for correction of the problem with appropriate interim benchmarks and frequency of contact to check on the plans progress

• Performs site visits to observe the physical conditions and management practices of LIHTC properties.

• Performs other duties and responsibilities as assigned.

Knowledge of:

• Company’s working structure, policies, mission, and strategies.

• Advanced concepts, principles and practices of LIHTC

• Advanced concepts, principles and practices of LIHTC compliance including, but not limited to knowledge of the 8823 Guide, HUD 4350, and Fair Housing Laws and practies.

• Advanced concepts, principles and practices of the real estate industry, including multi-family housing, property management and health/safety regulations.

• Knowledge of institutional investment strategies and partnership structures.

• Principles of banking and finance and securities industry operations.

• General accounting principles.

Skill in:

• Identifying the causes of property lease up and operational/stabilization problems and developing appropriate actions to correct the problems.

• Analyzing financial statements and operational reports.

• Understanding complex and varied legal documents.

• Proactively demonstrate readiness and ability to initiate action.

• Identifying required tasks, develop timelines and execute.

• Observing and tracking effectiveness of asset management processes

• Industry property management software with the ability to work in RJAHI proprietary RaPID database.

• Document management technology.

• Financial Calculator.

• Demonstrating sensitivity to customer needs (both internal and external) and proactively addressing customer needs.

• Operating standard office equipment and using required software applications to produce correspondence, reports, electronic communication and spreadsheets.

Ability to:

• Identify issues and develop solutions within the portfolio.

• Proactively demonstrate readiness and ability to initiate action.

• Communicate complex issues to others with a varied understanding of the subject matter

• Work independently as well as collaboratively within a team environment.

• Establish and maintain effective working relationships at all levels of the organization, including negotiating resources.

• Project a positive, professional image both internal and with external business contacts.

• Convey information clearly and effectively through both formal and informal documents.

• Identify relationships, draw logical conclusions and interpret results for use in decision making.

• Follow-up to ensure resolution and completion of tasks.

Educational/Previous Experience Requirements:

• Bachelor’s Degree (B.A.) in related field and or a minimum of five (5) years of relevant professional work experience, and interpreting financial statements.

or

• Any equivalent combination of experience, education, and/or training approved by Human Resources.

Licenses/Certifications:

• Tax Credit Certification from a recognized agency, or ability to obtain within 90 days of employment.

Education

Bachelor’s: Accounting, Bachelor’s: Business Administration, Bachelor’s: Finance

Work Experience

General Experience - 3 to 6 years

Certifications

Other Certification Not Listed - Other, Tax Credit Specialist (TCS) - National Center for Housing Management (NCHM)

Travel

Less than 25%

Workstyle

Hybrid

At Raymond James our associates use five guiding behaviors (Develop, Collaborate, Decide, Deliver, Improve) to deliver on the firm's core values of client-first, integrity, independence and a conservative, long-term view.

We expect our associates at all levels to:

• Grow professionally and inspire others to do the same

• Work with and through others to achieve desired outcomes

• Make prompt, pragmatic choices and act with the client in mind

• Take ownership and hold themselves and others accountable for delivering results that matter

• Contribute to the continuous evolution of the firm

At Raymond James – as part of our people-first culture, we honor, value, and respect the uniqueness, experiences, and backgrounds of all of our Associates. When associates bring their best authentic selves, our organization, clients, and communities thrive. The Company is an equal opportunity employer and makes all employment decisions on the basis of merit and business needs.

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