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Tax Credit Equity Portfolio Manager/Closing Coordinator - 3DHEL in Buffalo, NY at M&T Bank

Date Posted: 3/9/2018

Job Snapshot

Job Description

Title: Tax Credit Equity Portfolio Manager/Closing Coordinator    
Position Overview:  
Support the Bank’s Public Welfare Investment activities specifically relating to both Low Income and Historic Tax Credits.  This position will support Tax Credit Equity RMs in the following areas: (i) originations of new investments; (ii) closing of new investments; (iii) preparation of annual reviews of existing investments; (iv) confirming capital calls and preparing associated capital call approval memos; (v) regulatory requirements; and (vi) compliance with the Bank’s Public Welfare Investment policies and procedures.  This position will support both the WNY and Baltimore CRE units.
Origination of New Investments • Compiling and analyzing appropriate due diligence materials (e.g., market studies, cash flow pro formas, investment summaries, economic benefit schedules, sponsor financial statements);
• Prepare drafts of internal bank LIHTC/HTC investment approval memos;
• Interface with Commercial Planning relative to having profitability models run on each prospective investment; and
• Interface with appropriate parties within the Bank’s Credit Administration Division during the approval process.
Closing of New Investments (Once Formal Bank Approval Has Been Obtained) • Aid RM in sending appropriate documentation to the Bank’s legal counsel;
• Review, from a financial perspective, draft Limited Partnership or Operating Agreements;
• Review draft Capital Call and Consent Agreements;
• Coordinate distribution of required documents to internal Bank stakeholders (e.g., Accounting Policy Dept., Counsel’s Office, Corporate Tax Dept., CRA Dept.);
• Coordinate document & data input feeds to the MRI vendor software system (once implemented); and
• Coordinate initial investment funding in accordance with the Bank’s tax credit investment wire policies and procedures.
Annual Portfolio Maintenance • Prepare draft annual review memos of each investment and assign an AHIC Risk Rating for RM review;
• Confirming capital calls and prepare capital call approval & funding memos;
• Prepare interim update memos on each investment, in a manner consistent with Credit Policy requirements for permanent loans;
• Analyze and prepare draft memos for any investment modification (e.g., adjustor relief, pre- mature capital installments); and
• Prepare draft memos for investment exits.
Regulatory Requirements • Work with both internal and external legal counsel in the preparation of regulatory applications to both the Federal Reserve Bank of NY and NY Department of Financial Services;
• Prior to closing any investment, confirm that all regulatory approvals have been obtained and that the type of investment is consistent with what was represented in the regulatory applications; and
• Maintain quarterly capital call funding schedules and coordinate such data with Counsel’s Office to ensure timely funding reporting to regulatory entities.
Minimum Qualifications Required: • Bachelor’s degree, or in lieu of a degree a minimum of four (4) years work experience.
• A minimum of seven (7) years of commercial credit experience or equivalent in relevant experience.
Ideal Qualifications Preferred: • Bachelor's degree in Accounting/Finance
• Commercial lending experience
• Solid knowledge of personal computers
• Thorough knowledge of various software programs Word, Excel and other departmental software
• Excellent analytical capability
• Knowledge of credit principles
• Highly motivated, detail-oriented self-starter
• Excellent communication and organization skills
• Ability to interact with external and internal personnel using tact and diplomacy
• Ability to work under critical time constraints
• We encourage candidates with relevant military experience to apply
M&T Bank Corporation is an Equal Opportunity/Affirmative Action Employer.
M&T Bank Corporation does not sponsor individuals for the purpose of obtaining H-1 Visas.
M&T Bank Corporation has policies and procedures in place to promote a drug free workplace.