Asset and Relationship Manager Job in Portland 04101, Maine Us
Asset and Relationship Manager
New Markets Tax Credit Program
CEI Capital Management LLC (“CCML”), a for-profit subsidiary of Coastal Enterprises, Inc., is an investment management company facilitating and managing financings of real estate projects and operating businesses in low-income areas, using the economic power of federal tax credits available through the New Markets Tax Credit (“NMTC”) program. CCML originates and manages transactions between $500,000 and $50,000,000.
CCML is seeking an experienced and well-rounded person to perform several functions in the role of Asset and Relationship Manager. The primary function is to manage the assets held in a growing portfolio of NMTC transactions. These are typically commercial real-estate in nature and include both equity and loan positions. The transactions are structured to reflect the seven (7) year life of the underlying New Markets Tax Credits.
The Asset and Relationship Manager will be expected to understand the basic transaction structure, negotiate and implement required changes to asset structures during the life of each transaction, and manage the ‘unwind” process at the back end of each transaction’s life cycle. A second important function is for the Asset and Relationship Manager to act as one of CCML’s primary stakeholder relationship managers among the NMTC borrowers, lenders, investors, and the U.S Treasury, each of whom are stakeholders in these complex tax-credit transactions. Other functions include assisting in the front-end deal closing process, document review, due diligence coordination, development of general asset management procedures, compliance and covenant tracking, meeting with potential stakeholders and application preparation. At all times the Asset and Relationship Manager will support and work with the rest of the CCML team, including the Chief Executive Officer, the Chief Operating Officer, Chief Investment Officer, Chief Financial Officer, and the compliance, asset management, cash management and accounting staff.
Qualifications: Experience with complex commercial real estate transactions including evaluation, structuring, closing, and the ongoing management of a portfolio of these investments (loans, equity). Experience structuring both large and small-scale business loans and related credit analysis is a plus as is experience with federal tax credit programs including NMTC, LIHTC and Preservation Tax Credits. This is an entrepreneurial environment requiring innovation, strong interpersonal skills, ability to work independently as well as within a team, and a commitment to CCML’s concept of triple bottom-line underwriting which considers returns from Economic, Social Equity, and Environmental impacts. Excellent writing and oral communications skills, business and common sense, and an ability to assume increasing responsibility for program management are essential. An MBA, J.D., or equivalent education and at least three years experience in the areas listed above are required.
Responsibilities: The Asset and Relationship Manager will report to the Chief Operating Officer with the foremost task to build on your existing financial knowledge by developing a deep understanding of the complexities of the New Markets Tax Credit Program. This will be the basis of your work with our Investment Officers and multiple other parties to manage our portfolio of closed transactions. You will combine deal management responsibility with excellent service to our varied stakeholders to assure that portfolio assets are consistently tracked, well understood, and actions are taken to identify potential problems, and develop and implement measures to address such problems, including potential non-compliance and workout situations. This position will direct the post-closing transition of projects from Investment Officer to asset management, including monitoring and follow-up on all post-closing terms and requirements for each project, including outstanding closing items. You will perform site visits as needed to ensure compliance of each project. You will facilitate the “unwind” of the NMTC loan(s) at the end of the seven (7) year compliance period and manage all Borrower requests for modification. You will also be responsible for providing monthly, quarterly, or as needed asset management reports to various Boards, Committees, Investors and all other stakeholders.
Salary is competitive, based on experience and relevant skills. Starting base salary (minimum) for this position is anticipated to be $55,000 per year. CCML offers excellent benefits, including health/life/disability insurances and a 401(k) pension plan.