Low Income Housing Tax Credit - Asset Manager 2 in Los Angeles, California | DiversityInc Careers
 

Low Income Housing Tax Credit - Asset Manager 2

Job Description

At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. We’re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Wholesale Banking provides financial solutions to businesses across the United States and globally. Our nine major business lines include Business Banking, Middle Market Banking, Government and Institutional Banking, Corporate Banking, Commercial Real Estate, Financial Institutions Group, Wells Fargo Commercial Capital, Wells Fargo Securities, and the Investment Portfolio. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.

Community Lending and Investment – Tax Credit Asset Management team. Responsible for the asset management of Wells Fargo’s direct equity investments in LIHTC multi-family properties that are generally held for 17 years.

  • Directly manage a portfolio of stabilized and pre-work-out low-income housing tax credit (LIHTC) deals.  For deals directly managed, identify risks and recommend and execute action plans.
  • Appropriately manage assigned investments (responsibilities include identifying and analyzing issues and recommending solutions, monitoring investment, property, and market/sub-market performance, reviewing requests for capital contributions, underwriting consent requests, periodically visit properties, and managing deal exits).
  • Actively monitor portfolio performance including property performance issues and trends, sponsor and market issues and trends, fee collections, and collection of investment reporting. 
  • Ensure that data reported to stakeholders is timely and accurate.
  • Proactively communicate to senior asset manager any issues that materially impact portfolio, asset-level risk, or relationships with stakeholders.

Team members 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 and if 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 experience in one or a combination of the following: Commercial Mortgage Backed Securities (CMBS) or agency commercial real estate asset management underwriting, commercial real estate, low-income housing tax credit investment asset management, underwriting, or workout



Desired Qualifications

  • Customer service focus with experience actively listening, eliciting information, comprehending customer issues/needs, and recommending solutions
  • Extensive knowledge and understanding of credit and income producing real estate
  • Strong attention to detail and accuracy skills
  • Excellent verbal, written, and interpersonal communication skills
  • Ability to read and understand basic commercial real estate loan documentation, securitization documents, including pooling and servicing agreements and related documentation



Other Desired Qualifications
  • Bachelor’s degree in Accounting, Finance, Real Estate, or related field.
  • 5+ years of experience in real estate, real estate finance, or accounting/financial analysis, including 4-5  years of experience in tax credit equity field, with functional experience in asset management, underwriting, or workout role.
  • Ability to demonstrate analytical and credit skills.
  • Organizational and workload management skills.
  • Able to use databases and spreadsheet software to analyze financial issues.
  • Proactive and solution oriented.
  • Demonstrated commitment to customer service.
  • Team player.




Street Address

CA-LA-Downtown Los Angeles: 333 S Grand Avenue - Los Angeles, CA



Disclaimer


All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.



Relevant military experience is considered for veterans and transitioning service men and women.

Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.


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