Vice President-Lead Commercial Real Estate Portfolio Manager

Corporate & Investment Bank (CIB) delivers a comprehensive suite of banking, capital markets and advisory solutions, including a full complement of sales, trading and research capabilities, to corporate, government and institutional clients. We focus on our clients' overall financial needs, with consideration and respect for their total relationship with Wells Fargo.

Commercial Real Estate (CRE) provides a fully integrated platform of banking, financing, and capital markets solutions to commercial real estate clients including financial sponsors, institutional investors and asset managers, regional developers, and public and private corporations.

About this role:

Wells Fargo is seeking a Vice President-Lead Commercial Real Estate Portfolio Manager- Tax Credit Portfolio Manager to manage a portfolio of equity investments from some of our largest and most complex affordable housing clients.

• Provide coaching and mentoring for more junior employees
• Provide a single point of contact with general partners and internal departments regarding assigned assets
• Independently manage a portfolio of investments in real estate partnerships
• Identify and analyze issues, and recommend and execute action plans
• Monitor investment and property performance, including construction and lease-up progress
• Analyze tax returns and property and sponsor financial statements
• Review third-party inspections and reports in compliance with Low Income Housing Tax Credit (LIHTC) regulations
• Review requests for capital contributions and reserve releases, including calculations of adjustments to capital contributions due to adjusters
• Underwrite general partner consent requests (including loan refinances and changes in partnership structures)
• Perform site visits
• Negotiate and execute the exit of Wells Fargo from investment partnerships
• Assess markets in which assets reside, identify market and sub-market risks and issues
• Participate and/or supervising projects related to asset management process improvement
• Track any tasks outsourced to third parties
• Make decisions in complex and multifaceted situations requiring exceptional understanding of the function, policies, procedures, and compliance requirements that influence and lead broader work team to meet deliverables and drive new initiatives
• Collaborate and consult with Commercial Real Estate peers, colleagues, and mid-level to more experienced managers to resolve issues and achieve goals
• Lead projects, teams, or serve as a peer mentor

• 5+ years of Commercial Real Estate Portfolio Management experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

• 5+ years of experience in the Low-Income Housing Tax Credit (LIHTC) industry with one or more of the following functional roles: Real Estate Underwriting, Portfolio Management, Asset Management, Tax Credits, Real Estate Workouts, Financial Analysis, Accounting
• Knowledge of Affordable and Low-Income Housing
• Ability to review tax returns and audits for LIHTC partnerships
• Knowledge of Section 42 regulations and compliance
• Familiarity with partnership legal documents
• Ability to effectively underwrite perm loan conversions
• Experience negotiating Investor Limited Partner (ILP) exits
• Experience managing deals under construction
• Ability to read and understand complex commercial real estate loan or real estate investment documentation, securitization documents, including pooling and servicing agreements and related documentation
• Advanced knowledge of financial issues and tax issues
• Customer service focus with experience actively listening, eliciting information, comprehending customer issues/needs, and recommending solutions
• Extensive knowledge and understanding of credit and income producing real estate
• Strong attention to detail and accuracy skills
• Advanced Microsoft Excel skills
• Strong organizational, multi-tasking, and prioritizing skills
• Strong analytical skills and ability to solve complex technical problems
• Strong communication skills and ability to articulate complex material to a diverse audience
• Strong project management skills including the ability to handle multiple projects concurrently
• Leadership experience including; coaching, training, and mentoring
• Bachelor's or Master's degree in Real Estate, Finance, Accounting or related field

• Ability to travel as needed
• Willingness to work on-site in accordance with current office requirements
• Ability to work additional hours as needed
• Visa sponsorship is not available
• This position is subject to FINRA background screening requirements. Candidates must successfully complete and pass a background check prior to hire. In accordance with FINRA rules, individuals who are subject to statutory disqualification are not eligible to be associated with a FINRA-registered broker-dealer. Successful candidates must also meet and comply with ongoing regulatory obligations, which include periodic screening and mandatory reporting of certain incidents.
• Specific compliance policies may apply regarding outside activities or personal investing; affected employees will be expected to provide information to the Wells Fargo Personal Account Dealing Team and abide by applicable policy requirements if hired. Information will be shared about expectations during the recruitment process.

• Health benefits
• 401(k) Plan
• Paid time off
• Disability benefits
• Life insurance, critical illness insurance, and accident insurance
• Parental leave
• Critical caregiving leave
• Discounts and savings
• Commuter benefits
• Tuition reimbursement
• Scholarships for dependent children
• Adoption reimbursement