Securitized Products Group - Development Risk Manager - Associate

Be part of a dynamic group making a difference in communities nationwide by investing in affordable housing and historic projects.

As a Housing Investments Development Risk Manager, you'll help shape the future of real estate development through strategic risk management and collaboration.

Job summary
Tax Oriented Investments (TOI) is a Chicago-based team of 100 professionals within the Investment Bank's Securitized Products Group, specializing in tax credit equity investments in affordable housing, historic projects, renewable energy, and leasing.

As a Development Risk Manager (DRM) in the Direct Affordable Housing (DAH) Originations group, you will assess the feasibility and risks of real estate projects utilizing the Federal Section 42 Low Income Housing Tax Credit (LIHTC) program.

You'll monitor properties through construction and stabilization, focusing on design and construction risks, and provide expert advice to transaction leaders and senior management.

Job responsibilities


* Perform preliminary feasibility analysis of prospective investment opportunities from a design and construction perspective


* Evaluate the qualifications of the development team


* Analyze real estate market conditions and long-term competitiveness of built improvements


* Review and evaluate site control, entitlements, approvals, soil, and environmental conditions


* Review and evaluate project design, budget, schedule, and quality control program with third-party Architectural/Engineering consultants


* Review and evaluate sufficiency of construction contracts and contingencies


* Review and evaluate project insurance needs and coverages


* Review project documents for conformance to acquisition guidelines


* Review project documents for disbursement of equity contributions

Required qualifications, capabilities, and skills


* Professional degree in Architecture, Engineering, or Construction Management


* Strong understanding of real estate development processes, especially architectural, engineering, and construction practices


* Familiarity with principles of real estate finance


* Strong analytical and problem-solving skills


* Excellent written, presentation, and quantitative communication skills


* Proficiency with spreadsheets and databases

Preferred qualifications, capabilities, and skills


* Experience with multi-family product, especially LIHTC properties


* Ability to foster professional relationships among syndicator partners and industry colleagues


* 3+ years of experience in Architecture, Engineering, Construction, or Real Estate development; experience with multi-family and LIHTC properties a plus


* Experience maintaining project construction and lease-up databases


* Ability to contribute to Investment Committee presentations

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