Citi Group Construction Asset Manager - AVP 

United States, California 

214214308

Responsibilities:

Manage the ongoing performance and oversee the credit quality of an active portfolio of construction loans financing the new construction and in-place rehabilitation of affordable multifamily developments throughout the United States by:

• Confirming and monitoring the overall sources and uses in the development budget for new and rehab construction deals from loan closing to loan conversion or repayment.
• Analyzing the availability of the flow of funds during construction and understanding the nuances and restrictions on the various funding sources as well as specific requirements for funding the project costs.
• Reviewing and approving monthly construction loan advances in adherence with funding priority, funding restrictions and state specific lien law requirements.
• Monitoring monthly property performance and absorption during lease up by tracking occupancy and net operating income against underwritten projections.
• Independently and proactively monitoring covenant compliance requirements from guarantors.
• Ensuring borrowers adhere to terms and conditions under the loan documents, taking a leadership role in problem solving and resolving any past due issues.
• Preparing and presenting credit recommendations for material credit actions that require credit committee approval such as loan extensions, modifications, restructures, participations.
• Conducting annual review of the recourse exposure of client relationships by assessing the financial strength of the sponsor and guarantors, analyzing project performance against milestones for repayment or conversion and understanding current market conditions.
• Proactively identifying and escalating issues that warrant additional investigation and internal discussion such as scheduling delays, cost overruns, accelerated contingency usage, stabilization delays or uncertainty of sources of repayment that may result in a delay in repayment or conversion, recommending and processing classification changes.
• Conducting periodic risk rating analysis on the sponsor strength, project performance and weighted average risk rating of the recourse relationship.
• Updating the property valuations through internal assessments or external appraisals based on current market conditions and overall performance of the property.
• Externally interacting with borrowers, tax credit syndicators, bond issuers, subordinate lenders, legal counsel and other transaction parties.
• Internally interacting with bankers, underwriters, closers, risk managers, construction managers, asset specialists and credit managers.

Qualifications

• Experience in Affordable housing development, underwriting, asset management in any combination of the three in the field of Real Estate finance, Urban Planning and /or Community Development.
• 3+ years construction loan management or underwriting experience, preferably in the affordable housing industry
• Real estate construction financing plus.
• Self-starter, self-motivated and results-oriented individual.
• Strong organizational skills
• Self-motivated person who thrives in a dynamic work environment and demonstrates a flexible and adaptable work style that responds quickly.
• Individual must have excellent verbal and written communication skills, organizational and interpersonal skills, as well as the ability to manage multiple assignments at once under tight deadlines.
• Strong quantitative skills with a high proficiency with Excel and other Microsoft based programs.
• Energetic individual who shows initiative, is a team player, and has a positive attitude to change.
• Education - BA/BS in Finance or Real Estate preferred.

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

Anticipated Posting Close Date:

View the " " poster. View the .

View the .

View the