AVP – Fund Management, LIHTC

📋 Description

• Oversee the quarterly financial statements for the Fund and assist in the preparation and evaluation of monthly Corporate financial statements, ensuring workbooks and schedules are properly maintained.

• Supervise cash management and GAAP journal entries, including accruals, and handle wires, ACHs, and check processing.

• Coordinate and oversee Fund audits, tax return filings, and K-1 preparation, while also supporting the Corporate audit and tax return processes as required.

• Develop and maintain financial models, contribute to financial planning and analysis, and collaborate with internal teams on accounting and tax issues.

• Review operating agreements for the Fund and Partnership, document transactions, and track capital contributions from investors and disbursements to Partnerships, ensuring capital accounts are accurately updated.

• Manage investor due diligence workflows and Upper Tier closings.

• Prepare qualitative risk assessments and quantitative valuations for internal discussions.

• In collaboration with the VP, FM: Maintain and refresh master templates for Lower Tier and Upper Tier modeling.

• Support Acquisitions and Underwriting by delivering tax expertise, model training, and modifications tailored to specific transactions within Lower Tier models.

• Mentor and review the work of junior staff, offering guidance and oversight.

• Manage investor capital calls based on Fund cash balances and updated equity schedules at the project level.

• Analyze investor tax-basis and 704(b) basis capital account projections throughout the LIHTC compliance period, identifying potential risks to investor IRR and providing actionable recommendations.

• Conduct quarterly and annual updates to pre-stabilized Fund models based on actual tax returns, review tax returns for pre-stabilized Funds, analyze significant variances, and update investor benefit schedules.

• Oversee quarterly reporting requirements and perform annual evaluations of Fund reserves and sustainability.

• Calculate annual Fund cash waterfalls, process upper-tier asset management fees and overhead reimbursements, and model complex transactions, including multi/club structures, bridge lending, and special allocations.

• Coordinate the preparation of memos for Lower Tier tax returns and ensure compliance, while planning, hosting, and documenting training sessions for Lower Tier models.

• Conduct an annual review and revision of Upper Tier Policies and Procedures.

• Provide weekly updates to the VP, FM.

⛳️ Requirements

• Demonstrated experience in fund/partnership accounting and tax preparation, with a preference for LIHTC experience; CPA designation is preferred.

• Strong quantitative and analytical abilities, with expertise in financial modeling and proficiency in Microsoft Office applications.

• Exceptional attention to detail and accuracy, with the capability to effectively manage intricate financial data.

• Outstanding communication skills, both written and verbal, to articulate information clearly and professionally.

• A Master's degree is preferred.

• At least 5 years of experience in a comparable role.

🏝️ Benefits

• Monthly paid volunteer hours and donation matching to support our communities.

• Employee Resource Groups that foster your growth with us.

• Fertility and family planning services.

• Up to 12 weeks of fully paid parental leave.

• Mental health care, including complimentary counseling sessions.

• Generous tuition reimbursement to support your learning journey.

• Discounts on pet insurance.

• And more!