Community Investments - Investment Management VP

Come Work with Us!

At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you're helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

Job Title

Community Investments - Investment Management VP

Job Description

What is the opportunity?

RBC Capital Markets - RBC Community Investments (www.rbccm.com/communityinvestments), part of the Royal Bank of Canada (RBC) family, is a leading national syndicator of Low Income Housing Tax Credits (LIHTC), Workforce Housing Investments, Renewable Energy Tax Credits, Historic Tax Credits and State Tax Credits. The Investment Manager will support the Managing Director, Co-Head of Originations Management in the group's efforts to structure and close lower tier investments with a primary focus on oversight and facilitation of the closing process.

The Investment Manager shall serve in an investment-specific oversight capacity to ensure timely and accurate engagement, review, completion and sign off of items required to effectuate LIHTC closings. While functioning in this capacity, this individual must manage the standards for risk mitigation demanded by both internal management and RBC's investor partners, along with being responsive and attentive to the needs of our developer partners. In addition to these responsibilities, the Investment Manager may be charged with origination of new investments as directed by the Managing Director, Co-Head of Originations Management in order to develop greater market share and market penetration across the RBC tax credit platform. We are willing to consider candidates in Charlotte, NC or Cleveland, OH.

What will you do?

Production / Underwriting Management

• Ownership of all aspects of the production function for each investment, including the sufficiency and accuracy of the information collected from the Investment Diligence Associates, the management of the closing timeframe required of RBC's developer and investor partners and ensuring proper communication during the process.
• Once the Investment Manager enters the transaction, this individual will become responsible for overall management of the investment until lower tier closing and syndication occur.
• Review and direct proposed investment terms and items required for initial processing of proposed investment opportunities through Investment Committee (including preparation of financial models, Letters of Intent, Investment Summary, Underwriting Guidelines compliance, Sensitivity Analysis, etc.).
• The Investment Manager and the Regional Director shall retain primary responsibility for understanding and presenting to Investment Committee the broader developer relationship, the investor needs for the product/market and the competitive environment necessary to successfully bid and win the proposed investment.
• Manage the Letter of Intent ("LOI") process after initial committee approval, including issuance, correspondence and negotiation with the developer, re-issuance and counter-signature of the LOI.
• Responsible for ensuring timely engagement and completion of the Financial Review processes and sign offs.
• Address the findings of the detailed underwriting analysis so that transaction risks are adequately discovered, disclosed and mitigated well ahead of anticipated closing dates.
• Responsible for preparation of the Investment Summary to ensure a "sales ready" product is delivered as demanded by Sales Management staff, but in no event later than lower tier closing.
• Provide oversight to the Investment Diligence Associates to ensure timely receipt and review of all documentation required for lower tier closing and funding to occur.
• Develop and follow best practices for the investment production function, including timely follow-up on any outstanding diligence items and ensuring the developer's needs and concerns related to lower tier closings are fully addressed.

Origination Support

• Support the effort to develop market share for the company through collaboration with management to define origination targets to further LIHTC volume goals.
• Through interaction with the company's management, become an expert in knowing and understanding assigned markets, assigned developers and the competitive landscape both generally and as it relates to each proposed investment opportunity.

Investment Sales

• Throughout the lower tier and upper tier closing process, the Investment Manager shall maintain primary responsibility for ensuring all items required by the Sales Management team to allow a seamless sales execution are completed and available for review/distribution.
• Throughout the closing process, the Investment Manager will proactively address any deal terms that could heighten our risk around inventory and sales execution.
• Preparation of the Investment Summary and other items requested by the Sales Management team such that the investment is ready for preview to potential investors prior to closing.

Asset Management

• Leverage Asset Management staff as a resource for better understanding the developer's relationships with RBC, the development team's strengths/weaknesses in functional areas, and development team's strengths/weaknesses in various markets to better assess prospective investments.

What do you need to succeed?

Must-have

• Candidate must possess a Bachelor's Degree, preferably in Finance, Economics, Accounting, Real Estate/Urban Planning or Architecture. The ideal candidate may also possess an MBA or Master's in Finance, Accounting or Real Estate.
• Seven or more years' experience in affordable housing, tax credit syndication, transaction processing, real estate underwriting activities.
• Preference for candidates with LIHTC underwriting, closing and investment sales experience working with developer and investor clients.
• A strong interest in real estate investment and/or affordable housing, and excellent quantitative and analytical skills are essential.
• Proficiency in MS-Outlook and MS-Office applications is required.

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work
• Opportunities to building close relationships with clients

RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC's high-performance culture

• Enables collective achievement of our strategic goals

• Generates sustainable shareholder returns and above market shareholder value

Job Summary

Provides expertise and guidance for the development and enforcement of organizational underwriting guidelines, policies and processes. Applies extensive, in-depth knowledge, skills, and practices to perform complex assignments.

Address:

Charlotte, North Carolina, United States of America

City:

USA-NC-CHARLOTTE, USA-OH-CLEVELAND

Country:

United States of America

Work hours/week:

40

Employment Type:

Full time

Platform:

Capital Markets

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2023-01-03-08:00

Application Deadline:

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.

We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

Join our Talent Community

Stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.

Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at rbc.com/careers.