Reports ToSVP, Fund Management
LocationIndianapolis, IN or Boston, MA
DateTarget Hire Date: July 2021
CREA, LLC is a full-service Low Income Housing Tax Credit (LIHTC) Syndicator forming long-term relationships with investors and developers that cultivate success and improve lives. Our mission is to make affordable housing a reality for all. As CREA celebrates 20 years in business, over $7.8 billion in equity has been raised, contributing to the formation of over 60,000 affordable homes. As we find ourselves approaching 140 employees, we continue to look for talented and passionate individuals who are excited about opportunities to live our mission with us. We are currently looking to add a talented Assistant Vice President to our Fund Management.
This position within the Fund Management department is role combining mostly senior management aspects with some analyst level duties in managing all Fund activity for a specific group of CREA Tax Credit Funds. These activities will include but are not limited to the following:
- Cash Management
- Prepare and review monthly cash needs analysis for each Fund
- Prepare and review and send investor capital calls and bridge loan requests
- Review tax credit equity adjusters prepared by asset management
- Assist in making decisions regarding borrowings and investor capital calls while understanding the impacts on investor yield and CREA profitability
- Year End Reporting
- Review lower tier partnership tax returns and audits
- Assist in preparation and review of Fund audits and tax returns.
- Analyze actual results compared to financial forecasts.
- Investor Reporting
- Prepare and review monthly bank reconciliations and all monthly journal entries.
- Prepare and review quarterly reports including, but not limited to:
- Fund Benefit Schedules
- Project Benefit Schedules
- Project and Fund Level Summary Reports
- Fund cash reserve projections
- Drafting fund entity financial statements
- Drafting investor narratives highlighting key features of fund entity
- Calculate investor yield on a quarterly basis
- Review Fund Agreements, Amendments, and other Fund documents
- Prepare consolidated Fund benefit schedules for deal closings
- Special projects for investors and CREA senior management from both a CREA budgeting and an asset management perspective
- Update financial models and benefit schedules for special GP requests requiring investor consent
Requires a bachelor’s degree in accounting and a minimum of 4 years of accounting, real estate finance, or related work experience. Knowledge of Great Plains general ledger system or other accounting software is preferred. Previous work experience in the Low Income Housing Tax Credit Program or Affordable Housing industry is a plus. Candidate must be able to demonstrate strong customer service skills in interactions with investors, lenders and developer partners in a financial services environment. Candidate must be able to communicate and work effectively with individuals representing various departments and having varying specialties, both financial and non-financial. Candidate must possess strong organizational skills. Requires knowledge of Microsoft Office Suite, and a high proficiency in Excel and Word. Overtime hours expected during certain months of the year. Must possess and be able to demonstrate effectiveness with each of the following Key Attributes.
- Excellent oral and written communication skills
- Ability to function well in a team environment
- Initiative and proactiveness is expected
- Strong organizational skills with the ability to prioritize and multi-task.
- Strong analytical and problem solving skills
- Ability to be flexible and adapt to change
- Ability to effectively administer sensitive and confidential information
- Ability to interact with Management and employees at all levels
- Professionalism/Ethics (Trust, Attitude, Commitment, Honesty, Collaboration & Approachability)