1+ months

Construction Asset Manager

Tampa, FL 33603
The Citi Community Capital (CCC) Business within Citis Global Spread Products (GSP) Municipal Finance Division is seeking to hire a Construction Asset Manager to join its Construction Asset Management team.

CCC provides a suite of financial products to help affordable housing developers construct, rehabilitate, refinance, and acquire affordable multifamily housing across the country. Committed to the communities we serve, CCC finances both straightforward and highly structured transactions for non-profit and for-profit affordable housing developers, Community Development Financial Institutions, and state and local government agencies.

It is the mission of CCC to be the preferred financial partner for affordable housing developers, non-profits and governmental entities that focus on community development. We provide our clients with a distinctive, remarkable experience based on world class responsiveness, customer service, creativity and superior execution. This mission will be accomplished while delivering superior financial performance for Citi, consistent and impactful CRA results, and an inclusive and rewarding experience for our employees.

**Job Responsibilities:**

Manage the ongoing performance and oversee the credit quality of an active portfolio of construction loans financing the new construction and in-place rehabilitation of affordable multifamily developments throughout the United States by:

+ Confirming and monitoring the overall sources and uses in the development budget for new and rehab construction deals from loan closing to loan conversion or repayment.

+ Analyzing the availability of the flow of funds during construction and understanding the nuances and restrictions on the various funding sources as well as specific requirements for funding the project costs.

+ Reviewing and approving monthly construction loan advances in adherence with funding priority, funding restrictions and state specific lien law requirements.

+ Monitoring monthly property performance and absorption during lease up by tracking occupancy and net operating income against underwritten projections.

+ Independently and proactively monitoring covenant compliance requirements from guarantors.

+ Ensuring borrowers adhere to terms and conditions under the loan documents; taking a leadership role in problem solving and resolving any past due issues.

+ Preparing and presenting credit recommendations for material credit actions that require credit committee approval such as loan extensions, modifications, restructures, participations.

+ Conducting annual review of the recourse exposure of client relationships by assessing the financial strength of the sponsor and guarantors, analyzing project performance against milestones for repayment or conversion and understanding current market conditions.

+ Proactively identifying and escalating issues that warrant additional investigation and internal discussion such as scheduling delays, cost overruns, accelerated contingency usage, stabilization delays or uncertainty of sources of repayment that may result in a delay in repayment or conversion; recommending and processing classification changes.

+ Conducting periodic risk rating analysis on the sponsor strength, project performance and weighted average risk rating of the recourse relationship.

+ Updating the property valuations through internal assessments or external appraisals based on current market conditions and overall performance of the property.

+ Externally interacting with borrowers, tax credit syndicators, bond issuers, subordinate lenders, legal counsel and other transaction parties.

+ Internally interacting with bankers, underwriters, closers, risk managers, construction managers, asset specialists and credit managers.


+ Individual must have excellent verbal and written communication skills, organizational and interpersonal skills, as well as the ability to manage multiple assignments at once under tight deadlines.

+ Strong quantitative skills with a high proficiency with Excel and other Microsoft based programs.

+ Energetic individual who shows initiative, is a team player, and has a positive attitude to change.

+ Candidate is required to have at least 3 years construction loan management or underwriting experience, preferably in the affordable housing industry.


BA/BS in Finance or Real Estate preferred


**Job Family Group:**

Institutional Banking


**Job Family:**

Investment Banking


**Time Type:**

Full time


Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Citigroup Inc. and its subsidiaries ("Citi) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review **Accessibility at Citi (https://www.citigroup.com/citi/accessibility/application-accessibility.htm)** .

View the "EEO is the Law (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf) " poster. View the EEO is the Law Supplement (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/OFCCP\_EEO\_Supplement\_Final\_JRF\_QA\_508c.pdf) .

View the EEO Policy Statement (http://citi.com/citi/diversity/assets/pdf/eeo\_aa\_policy.pdf) .

View the Pay Transparency Posting (https://www.dol.gov/sites/dolgov/files/ofccp/pdf/pay-transp\_%20English\_formattedESQA508c.pdf)


Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.
Citi is an equal opportunity and affirmative action employer.
Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.


Posted: 2022-05-13 Expires: 2022-08-12
Sponsored by:
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Construction Asset Manager

Tampa, FL 33603

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