Analyst, Community Investments, Fund Analyst-LIHTC

RBC Capital Markets, LLC • Cleveland, OH • 2h ago

Job Description
What is the opportunity?
RBC Capital Markets - RBC Community Investments (www.rbccm.com/communityinvestments), part of the Royal Bank of Canada (RBC) firm, is a leading national syndicator of State and Federal Low Income Housing Tax Credits (LIHTCs), Historic Rehabilitation Tax Credits (HRTCs), New Markets Tax Credits (NMTCs) and Renewable Energy Tax Credits (RETCs). The Fund Analyst will support a program that exceeds Investor expectations / requirements as it pertains to the timely and accurate delivery of all reports, audits, tax returns and K-1's. This individual will assist Fund Managers with Investor portfolio that provides an analysis on the current performance, and future projections, of individual properties. In addition, the Fund Analyst provides financial analysis assistance to the Asset Management team as it pertains to property operations and overall performance.
What will you do?
Primary responsibility for financial reporting and accounting support.
Property Level Audit and Tax Return Delivery:
Track receipt of lower tier tax returns, audits, independence letters and peer review reports; record dates in database. Review/Approve lower tier audits and tax returns in conjunction with upper tier CPAs and asset managers. Follow up with lower tier CPAs regarding changes to drafts and receipt of final reports.
Build relationships with lower tier CPAs to assist in working through tax issues when they arise.
Fund Level Quarterly Investor Benefit Report:
Preparation of quarterly Investor report detailing the loss (upper & lower tier) and credit benefits projected to be delivered to the Investor on an annual basis. Report data/documentation is derived from compilation of property level quarterly financial reports, property narrative and/or watch list reports provided by Asset Management.
Load reports to investor portal timely. Maintain investor contacts to provide seamless access to reports.
Investor Portfolio Review:
Assist Fund Managers to bring original fund summary model up-to-date through the insertion of final/draft tax return and audit data into the final model for all previous years of operation. Prepare analysis of current property operations as they relate to historical trends, and as a result, develop analysis of projected future property operations.
Determine the current Internal Rate of Return (IRR) on the Investor's investment at Fund level. Assist Fund Managers with the preparation of 'portfolio book' detailing Investor benefit analysis through use of data, charts/graphs and text.
Accounting Functions:
Maintain General Ledgers.
Review monthly bank reconciliations.
Preparation of Capital Account Analyses as it relates to capital account balance, minimum gain recognition and the potential for reallocation of loss resulting from capital account depletion.
Update and manage depreciation and amortization schedules which will assist asset management in obtaining an accurate assessment of this expense at the property level for purposes of the quarterly/annual analysis of property operations.
What do you need to succeed?
Must-have
Candidate must possess a Bachelor's Degree with emphasis in Accounting, Finance or Tax.
A strong interest in real estate investment and/or affordable housing, and excellent quantitative and analytical skills are essential.
Proficiency in MS-Outlook and MS-Office applications is required.
Nice-to-have
Previous experience in analysis of partnership tax returns and property operating budgets, and may have CPA status and an understanding of Section 42 (LIHTC) program.
What's in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference

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