Community Investments Closing Manager
SUMMARY OF POSITION:
The Community Investments Closing Manger has the primary responsibility for organizing and managing closings for Low Income Housing Tax Credit (LIHTC) and New Markets Tax Credit (NMTC) transactions, performing a critical role as the liaison between development partners, staff, financing teams, and investors. Coordination between staff and external partners and organization of information is a vital function of this position. Key competencies include project management, prioritization, interpersonal skills, organization, solution-oriented problem solving, and promoting the mission of Evernorth to its partners and the public through a variety of means.
The Community Investments Closing Manager is responsible a broad array of tasks related to the syndication of LIHTC and NMTC projects:
Pre-construction loan closing responsibilities:
- Schedules and leads all assigned real estate closing calls; takes closing call notes and informs involved Community Investment, Capital Management, and Asset Management staff on closing issues.
- Prepares, updates, and circulates due diligence checklists and handles documentation tracking for all assigned investment closings; coordinates due diligence checklist requirements and approvals/sign off with Community Investment Officers, Director of Underwriting, external regulators, and funding partners.
- Quality control review of partnership closing documents to verify and ensure closings are in compliance with Investment Committee approvals, LOI, and underwriting requirements; reviews and approves required insurance coverages, title/survey, zoning, permitting, and reliance letters.
- Coordinates the wiring of capital funding for all capital calls with the Capital Management department.
- Acts as a liaison and coordinates submittal of due diligence items between Evernorth and proprietary investor partners.
- Coordinates internal signature packages, scans, and circulates PDFs and original executed closing documents.
Post-construction loan closing responsibilities:
- Proactively manages delivery of post-closing items from counterparties, to include documents and/or closing binders; keeps electronic transaction files within internal SharePoint document file management system organized and complete.
- Provides the hand off between Evernorth departments and project sponsor team.
- Assists Capital and Asset Management departments with post-closing related amendments.
- Works with Evernorth staff to maintain and report a schedule of capital call dates for projects in construction.
- Manages the investment committee process, including scheduling, note taking, and circulation of investment committee packages.
- Advises on departmental goals, capacity, planning, and processes with Department staff.
- Uphold corporate principles of respect, service, value, and partnership.
- Perform other tasks as required by Evernorth management.
EDUCATION, LICENSES AND/OR CERTIFICATIONS REQUIREMENTS:
- Bachelor’s degree and/or Paralegal training or certificate.
- Valid Driver’s License.
- Criminal background check.
JOB KNOWLEDGE AND EXPERIENCE:
- Three years of recent experience supporting real estate transaction closings.
- Strong understanding of real estate loan or investment due diligence and closing processes as it relates to the LIHTC or NMTC.
- Demonstrated ability to organize, coordinate, and manage processes and documents while considering the needs and expectations of different client groups, including developers, investors, lenders, and internal partners.
- Affordable housing, community development, or business investment or loan closing experience is strongly preferred.
- LIHTC or NMTC experience and familiarity with legal documents used in tax credit syndication strongly preferred.
- Proficiency in Microsoft Office products required – Excel, Word, OneNote, SharePoint, Teams, and Outlook.
JOB ESSENTIAL SKILLS:
- Excellent written and verbal communication skills with active listening skills.
- Ability to work effectively with a variety of people in different positions and locations by phone, video, email, and in person.
- Excellent organizational skills and ability to prioritize and complete tasks under time constraints and balance multiple transactions with many parties, at different stages concurrently.
- Self-starter with the ability to work in a fast-paced environment with a large degree of autonomy.
- Ability to read and understand syndication, finance, insurance, and title/survey documents.
- Attention to detail and ability to proofread documents for numbers, spelling, and grammar.
- Ability to work in a team environment between different physical office locations.
- Ability to be focused and flexible to respond quickly to shifting work priorities.
- Commitment to the community and mission of Evernorth.
The following are the general Evernorth work environment and physical demands:
- Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
- The noise level in the office work environment is usually quiet.
- While performing the duties of this job, the employee is occasionally exposed to work near moving mechanical parts; work in high, precarious places; fumes or airborne particles; toxic or caustic chemicals (e.g. lead paint and asbestos); outdoor weather conditions and risk of electrical shock.
- The noise level at the job site is usually moderate to noisy.
- This position requires periods of sitting, standing, walking, stooping, and bending.
- Ability to reach with hands and arms and talk and hear.
- Specific vision abilities required by this job include close, distance and peripheral vision, depth perception and ability to adjust focus.
- This position requires substantial typing, reading and writing emails, and other related computer work.
- The employee is regularly required to use hands and fingers.
- Requires traveling to meetings in personal car and occasional travel within Northern New England.
- May require lifting up to 20 pounds.
Job Type: Full-time
Pay: $31.25 - $33.65 per hour
- 401(k) matching
- Dental insurance
- Employee assistance program
- Flexible schedule
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Professional development assistance
- Tuition reimbursement
- Vision insurance
- 8 hour shift
- Monday to Friday
We follow CDC guidelines and local ordinances.
- LIHTC or NMTC: 1 year (Preferred)
- Real Estate Closing: 3 years (Required)
Work Location: Multiple Locations