Wells Fargo

Job Category:



Boston, Massachusetts



Approximate Salary:

Not Specified

Position Type:

Full Time


415) 820-7800

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Tax Credit Equity Asset Management Analyst

Wells Fargo - Boston, Massachusetts

Posted: 10/20/2018

Job Description

At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. We’re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Wholesale Banking provides financial solutions to businesses across the United States and globally. Our nine major business lines include Business Banking, Middle Market Banking, Government and Institutional Banking, Corporate Banking, Commercial Real Estate, Financial Institutions Group, Wells Fargo Commercial Capital, Wells Fargo Securities, and the Investment Portfolio. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.

Community Lending & Investment (CLI) is part of the Commercial Real Estate group at Wells Fargo. CLI specializes in helping developers and investors take advantage of tax credit opportunities by investing in Low Income Housing Tax Credits (LIHTC) multifamily apartments and Historic Tax Credit properties. For more than 20 years Wells Fargo has invested in tax credits and is one of the few banks active in both direct and fund equity investments, as well as construction and

permanent loan financing. This increases our opportunity to provide real estate and community developers with needed capital. Our

affordable housing financing helps promote the public welfare by providing housing, jobs and services to low and moderate income

individuals and communities.

The Asset Management Analyst will assist in managing Wells Fargo’s tax credit equity investments in LIHTC affordable housing within

the Tax Credit Investment Group of CLI and will have the opportunity to:

  • Manage a small portfolio of stabilized affordable multifamily investments.
  • Assist in underwriting investments for consent requests including loan refinancing, loan conversions from construction to permanent, and limited partnership interest valuations.
  • Perform cash flow waterfall calculations per the terms of the operating agreements.
  • Assist in the review and processing of equity contributions to investments and reserve release requests.
  • Review third-party inspections to evaluate the physical condition of properties and compliance with LIHTC regulations.
  • Review and analyze partner/guarantor financial statements to ensure compliance with financial covenants.
  • Collect, review, and track yearly audits, yearly tax returns, and quarterly operating statement to ensure financial and nonfinancial deal data is properly updated in our database management system.
  • Perform site visits to collect property and market data as needed.
  • Perform ad hoc requests for management which may include among other things, engaging legal counsel, opening bankaccounts for customers, and addressing internal Wells Fargo inquiries.

Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements. #indeed

Required Qualifications

  • 2+ years of commercial mortgage credit analysis experience
Desired Qualifications

  • Intermediate Microsoft Office (Word, Excel, Outlook, and PowerPoint) skills
  • Strong analytical skills with high attention to detail and accuracy
  • Strong technical writing skills
  • Excellent verbal, written, and interpersonal communication skills
  • Solid problem solving and decision making skills
  • Customer service experience
  • Ability to work effectively in a team environment
  • Strong organizational, multi-tasking, and prioritizing skills
  • Strong analytical skills with high attention to detail and accuracy
Other Desired Qualifications
  • Bachelor’s degree in Accounting, Finance, Real Estate, or related field
  • Advanced knowledge of Excel & Word
  • Knowledge or experience in low income housing tax credit (LIHTC)
  • Demonstrate understanding of income producing real estate
  • Ability to use databases and spreadsheet software to analyze financial issues
  • Proactive and solution oriented

  • All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.

    Relevant military experience is considered for veterans and transitioning service men and women.
    Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.

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