Commercial Real Estate (CRE) provides a fully integrated platform of banking, financing, and capital markets solutions to commercial real estate clients including financial sponsors, institutional investors and asset managers, regional developers, and public and private corporations.
Wells Fargo is seeking an Associate Tax Credit Asset Manager (Commercial Real Estate Portfolio Manager) within the Corporate & Investment Bank focusing on affordable housing in underserved communities.
About this role:
Wells Fargo is seeking a Commercial Real Estate Portfolio Manager within the Corporate & Investment Bank focusing on affordable housing in underserved communities.
In this role, you will:
- Manage a small portfolio of investments in real estate partnerships and/or fund investments and assist more senior asset managers with their portfolio.
- Identify and analyze issues, and recommend and execute action plans
- Monitor investment and property operations and performance,
- Analyze tax returns and property and sponsor financial statements. Analyze and calculate annual cashflow distributions. Review budgets
- Review third-party inspections and reports in compliance with Low Income Housing Tax Credit (LIHTC) regulations
- Assist with customer funding requests, including review of required documentation and assistance with calculations of adjustments to capital contributions
- Assist more senior asset managers with review of customer requests.
- Assess markets in which assets reside, identify market and sub-market risks and issues
- Track any tasks outsourced to third parties
- In consultation with more senior asset managers, peers and other Commercial Real Estate colleagues, make decisions in complex and multifaceted situations requiring exceptional understanding of the function, policies, procedures, and compliance requirements to resolve issues and achieve goals.
Required Qualifications:
- 2+ years of Commercial Real Estate experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
- Experience with the Low-Income Housing Tax Credit (LIHTC) industry or Commercial Real Estate industry with one or more of the following functional roles: Real Estate Underwriting, Portfolio Management, Asset Management, Tax Credits, Real Estate Workouts, Financial Analysis, Accounting
- Ability to review tax returns and/or audits for low-income real estate partnerships
- Ability to analyze and interpret complex legal documents, including commercial real estate loan agreements and partnership contracts.
- Client-focused with proven experience in analyzing customer needs and delivering effective solutions.
- Strong attention to detail and accuracy
- 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
- Project management skills including the ability to handle multiple projects concurrently
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
- Relocation assistance is not available for this position
- Visa sponsorship is not available
- Willing to work at once of the listed locations: 125 High St Boston, MA; 550 S Tryon Charlotte, NC; 333 S Grand Ave Los Angeles, CA; 2030 Main St Irvine, CA
- This position is subject to FINRA background screening requirements. Candidates must successfully complete and pass a background check prior to hire. In accordance with FINRA rules, individuals who are subject to statutory disqualification are not eligible to be associated with a FINRA-registered broker-dealer. Successful candidates must also meet and comply with ongoing regulatory obligations, which include periodic screening and mandatory reporting of certain incidents.
- Specific compliance policies may apply regarding outside activities or personal investing; affected employees will be expected to provide information to the Wells Fargo Personal Account Dealing Team and abide by applicable policy requirements if hired. Information will be shared about expectations during the recruitment process.
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