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Job Title : Community Development Finance: Low-Income Housing Tax Credit Portfolio Manager(Morgan Stanley)
Date Posted : July 23, 2020
Type :

Description :

Job Number: 3153855

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Department Profile

Community Development Finance (CDF) is part of Morgan Stanley Bank, NA. The team seeks to execute transactions designed to meet the US Banks’ Community Reinvestment Act (CRA) obligations by lending and investing the Firm’s capital in projects that benefit low- and moderate-income households and small businesses across an array of different product offerings.

Primary Responsibilities

The position will be responsible for managing the CDF Low-Income Housing Tax Credit portfolio, including filing regulatory reports, performance reporting to senior management and providing assistance with deal closings. The Candidate will work directly with internal staff and external partners. The position is heavily weighted towards financial analysis, deal performance evaluation, and requires knowledge and direct experience with affordable housing programs and tools, Low-Income Housing Tax Credits, and an understanding of the fundamentals of multifamily real estate.

• Interface with internal operations and financial management staff to ensure the appropriate booking of investments.
• Ensure all internal and external closing requirements are met and appropriately documented; maintain project files.
• Review capital calls and approve requests to ensure proper disbursements, including analysis of tax benefit schedules.
• Proactively monitor construction progress, financial performance, and covenant compliance.
• Provide monthly and quarterly performance reporting at the property and fund levels.
• Assist in the pre-closing due diligence and in the review and approval of various project documents
• Help prepare credit memos for review by credit risk management.
• Maintain all other tax equity portfolio management processes including financial analysis and projections as well as preparation of other memos and tracking for various internal stakeholders. 


• 5 years of relevant work experience with a minimum of 3 years in the Low Income Housing Tax Credit program, preferably in an asset management function. Experience with New Markets Tax Credit program helpful.
• B.A. or B.S. in Real Estate, Business, Finance, Economics or other business related field is preferred.

• Strong capacity, based on experience and demonstrated success, in asset management of affordable housing developments at both the property and fund levels.
• Excellent interpersonal skills and ability to work effectively with numerous constituencies.
• Excellent attention to detail and follow through. 
• Strong written and oral communication skills including presentation skills.
• Microsoft Office including Excel and PowerPoint
• Strong organizational skills and ability to work both independently and as part of a team and manage a variety of projects and tasks.

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