Fund Manager, Tax Credit Syndications

Location:

127 Public Square - Cleveland, Ohio 44114

ABOUT THE BUSINESS:

KeyBank is committed to growing their National Affordable Housing Platform through their Community Development Lending & Investment group (“CDLI”). CDLI’s mission is to help clients and communities thrive. CDLI provides capital solutions for affordable housing and community development projects in urban and rural communities. As one of the nation’s premier affordable housing capital providers, CDLI offers one-stop-shop debt and equity/investment capabilities that bring together balance sheet, equity/investment and permanent loan offerings. Non-profit and for-profit affordable housing owner-operators and developers seeking to build, acquire and preserve affordable housing can leverage CDLI’s broad, fully integrated platform, including solutions such as: construction; acquisition; bridge-to-re-syndication and preservation loans; lines of credit; various permanent loan executions including Fannie Mae, Freddie Mac, FHA/HUD and bonds; and equity investments for low-income housing projects, especially Low Income Housing Tax Credit (LIHTC) financing. With a national presence and an experienced team of more than 50 professionals serving clients coast to coast, CDLI delivers deep product and solution expertise to help local affordable housing and economic development projects succeed. 

ABOUT THE JOB

This is a great opportunity for an experienced Fund Manager who is assertive, possesses a strong initiative and works well independently to drive innovative and complex fund structuring and management with a primary focus on the affordable housing tax credit syndication industry. She or he will be responsible for structuring, managing, modeling, reporting, and providing management accounting for all types of a limited partnership’s tax credit investments and related entities. The Fund Manager will liaise with other departments within the bank as needed. The Fund Manager will be expected work with team lead to analyze and develop new business opportunities as well as communicate with investors. Actively participate in Industry conferences/workshops.

WHAT YOU’LL GET FROM THIS OPPORTUNITY:

• A competitive base salary + annual discretionary bonus.
• Generous benefits – 401(k) matching (dollar-for-dollar up to 7%), PTO, fitness and tuition reimbursement and so much more.
• On the job training and access to a library of on-demand professional development tools, training courses, and a formal enterprise mentoring program.
• You will build deep client relationships with owners and investors of affordable housing properties. 
• We look for people who have a book of business and can manage existing relationships.
• Join a growing and expanding team rooted in economic reward for the communities in which we live and play for long term sustainability in affordable housing.
• Access to internal partners and leadership based on Key’s Regional Bank size.

ESSENTIAL JOB FUNCTIONS:

•    Structure and close tax advantaged equity funds, including but not limited to Low Income Housing Tax Credit (LIHTC) funds, historic tax credit equity, state tax credit equity and preservation.
•    Create and update financial models that will support the assessment and valuation of potential acquisitions and investment targets.
•    Review equity fund partnership agreements, PPM's and legal documents.
•    Work collaboratively within fund management and with originations and CDLI debt team to assemble funds that meet investors’ needs
•    Direct interaction with new and existing investors likely.
•    Prepare and provide annual and quarterly reporting to investors regarding the performance of the funds.
•    Coordinate with outside accounting firms regarding the preparation of annual audit and tax returns.
•    Manage and integrate data from a variety of sources into cohesive and comprehensive presentations and reports.
•    Translates complex analytical data into presentations that can be understood and acted upon by stakeholders.
•    Analyze new business opportunities to determine appropriate deal terms, pricing and associated resourcing needs.

REQUIRED QUALIFICATIONS:

• Minimum of three years of Tax Credit Syndication experience is required, five years preferred
• Proficient in excel spreadsheets is required
• Strong creativity, organizational, critical thinking, and customer service skills
• Ability to multi-task and manage competing deadlines
• Excellent communication and analytical skills
• Ability to work both independently and in a team environment
• Understanding investment fund concepts including; realized and unrealized waterfall allocations; capital calls, distributions, investor transfers, subsequent closes
• Bachelor’s degree required in finance, business, accounting or equivalent work experience, CFA a plus

COMPENSATION AND BENEFITS

This position is eligible to earn a base salary in the range of $160,000 to $200,000 annually depending on location and job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation subject to individual and company performance.
 

Please click here for a list of benefits for which this position is eligible.

Job Posting Expiration Date: 05/16/2025

KeyCorp is an Equal Opportunity Employer committed to sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing [email protected].