Log In
Sign Up
Job Description
Come Work with Us!
At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.
Whether you’re helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.
Job Title
Development Risk Management Analyst
Job Description
What is the opportunity?
RBC Capital Markets – RBC Community Investments (www.rbccm.com/communityinvestments), part of the Royal Bank of Canada (RBC) firm, is a leading national syndicator of State and Federal Low Income Housing Tax Credits (LIHTCs), Historic Rehabilitation Tax Credits (HRTCs), and New Markets Tax Credits (NMTCs). The Development Risk Management Analyst is primarily responsible for the funding of equity contributions for real estate assets invested through the Section 42 (LIHTC) affordable housing program and/or the historic tax credit program to fund development costs associated with the construction of multi-family real estate. This position will support the Development Risk Management (“DRM”) team.
What will you do?
- Assemble, organize and track required documents related to equity contributions as defined in the Limited Partnership Agreement (LPA).
- Coordinate approvals of the documents with the Development Risk Manager and expedite the submission of the funding package to meet timing commitments in the LPA.
- Review the AIA G704 Certificate of Substantial Completion and associated punch lists.
- Confirm wiring instructionswith title agencies, lenders and partners.
- Coordinate the review of insurance certificates with the VP- Insurance.
- Review Temporary Certificate of Occupancies/ Certificate of Occupancies issued by the Authority having Jurisdiction.
- Collect the AIA G702 and G703 Certificate for Payment and associated conditional/ unconditional lien releases on a monthly basis when required.
- Facilitate the review and approval of environmental remediation documents with the 3rd party consultant.
- Review soft cost backup related to construction draws.
- Reconcile change orders with the final construction draw.
- Coordinate the review and approval of ALTA surveys and title documents with outside legal counsel.
- Review the project source and use statement for accuracy to ensure the project is in balance.
- Confirm project reserves are funded as required by the LPA.
- Work with the Investment Diligence Specialist (IDS) to confirm post-closing obligations from the development team have been received.
- Perform updates to the database to track anticipated funding dates.
- Save relevant data collected to the shared drive.
What do you need to succeed?
- Bachelor’s degree from an accredited university or associate degree with 5 years’ experience in a related field.
- Ability to understand and analyze construction documents such as: a pay application or a Sources/Uses statement.
- Proficiency in data entry into industry software, Adobe, MS-Outlook and MS-Office applications, specifically PowerPoint and Excel, along with excellent verbal, written, and interpersonal communication skills are essential.
- Organizational skills are critical to the success of the candidate. The ability to assemble multiple funding packages simultaneously and track the status of each is essential.
What’s in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
- A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
- Leaders who support your development through coaching and managing opportunities
- Ability to make a difference and lasting impact
- Work in a dynamic, collaborative, progressive, and high-performing team
- Opportunities to do challenging work
- Opportunities to building close relationships with clients
Job Summary
Implements business unit compliance programs to prevent illegal, unethical, or improper business practices. Applies complete knowledge, skills, and practices to perform assignments.
Address:
New Albany, Ohio, United States of America
City:
USA-OH-NEW ALBANY
Country:
United States of America
Work hours/week:
40
Employment Type:
Full time
Platform:
Capital Markets
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2022-11-14-08:00
Application Deadline:
Inclusion and Equal Opportunity Employment
At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.
Join our Talent Community
Stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.
Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at rbc.com/careers.
RBC is an equal opportunity employer committed to diversity and inclusion. We are pleased to consider all qualified applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veterans status or any other legally-protected factors.
