Be part of a dynamic group making a difference in communities nationwide by investing in affordable housing and historic projects. As a Housing Investments Development Risk Manager, you’ll help shape the future of real estate development through strategic risk management and collaboration.

Job summary
Tax Oriented Investments (TOI) is a Chicago-based team of 100 professionals within the Investment Bank’s Securitized Products Group, specializing in tax credit equity investments in affordable housing, historic projects, renewable energy, and leasing. As a Development Risk Manager (DRM) in the Direct Affordable Housing (DAH) Originations group, you will assess the feasibility and risks of real estate projects utilizing the Federal Section 42 Low Income Housing Tax Credit (LIHTC) program. You’ll monitor properties through construction and stabilization, focusing on design and construction risks, and provide expert advice to transaction leaders and senior management.

Job responsibilities

Perform preliminary feasibility analysis of prospective investment opportunities from a design and construction perspectiveEvaluate the qualifications of the development teamAnalyze real estate market conditions and long-term competitiveness of built improvementsReview and evaluate site control, entitlements, approvals, soil, and environmental conditionsReview and evaluate project design, budget, schedule, and quality control program with third-party Architectural/Engineering consultantsReview and evaluate sufficiency of construction contracts and contingenciesReview and evaluate project insurance needs and coveragesReview project documents for conformance to acquisition guidelinesReview project documents for disbursement of equity contributions

Required qualifications, capabilities, and skills

Professional degree in Architecture, Engineering, or Construction ManagementStrong understanding of real estate development processes, especially architectural, engineering, and construction practicesFamiliarity with principles of real estate financeStrong analytical and problem-solving skillsExcellent written, presentation, and quantitative communication skillsProficiency with spreadsheets and databases

Preferred qualifications, capabilities, and skills

Experience with multi-family product, especially LIHTC propertiesAbility to foster professional relationships among syndicator partners and industry colleagues3+ years of experience in Architecture, Engineering, Construction, or Real Estate development; experience with multi-family and LIHTC properties a plusExperience maintaining project construction and lease-up databasesAbility to contribute to Investment Committee presentations