Join a dynamic team at the forefront of affordable housing investment, where your expertise in real estate development risk will help shape communities and deliver impactful solutions.

As a Development Risk Manager (DRM) in the Tax Oriented Investments (TOI) group, you will play a critical role in evaluating and managing risks for affordable housing projects utilizing the Federal Section 42 Low Income Housing Tax Credit (LIHTC) program. Based in Chicago, you will collaborate with a team of professionals to ensure successful project delivery from feasibility through construction and stabilization, directly impacting the quality and competitiveness of our investments.

Job responsibilities

Perform preliminary feasibility analysis of prospective investment opportunities from a design and construction perspectiveConduct initial project underwriting site visits with Origination OfficersEvaluate qualifications of development teamsAnalyze real estate market conditions and long-term competitiveness of built improvementsReview site control, entitlements, approvals, soil, and environmental conditionsCollaborate with third-party consultants to review project design, budget, schedule, and quality control programsPresent prospective opportunities to the Investment CommitteeAssess sufficiency of construction contract, contingencies, and insurance coverageReview project documents for conformance to acquisition guidelinesMonitor construction and lease-up progress with third-party consultantsOversee disbursement of debt and equity contributionsMaintain project construction and lease-up databasesFoster professional relationships among syndicator partners and industry colleagues

Required qualifications, capabilities, and skills

Professional degree in Architecture, Engineering, or Construction Management7+ years of experience in Architecture, Engineering, Construction, or Real Estate development; experience with multi-family and LIHTC properties preferredThorough understanding of real estate development processes, with strengths in architectural, engineering, and construction practicesFamiliarity with principles of real estate financeStrong analytical and problem-solving skillsSuperior written, presentation, and quantitative communication skillsAdvanced PC skills, including experience with spreadsheets and databasesAbility to work independently and interact with different levels of managementAbility to prioritize workload and manage competing demands

Preferred qualifications, capabilities, and skills

Proven ability to foster professional relationships within the industryDemonstrated ability to present complex information to senior stakeholdersExperience managing project databases and reporting