Job Details
The Opportunity
A leading national financial services firm and repeat client of KM Partners has retained us in the search for an experienced LIHTC Tax Professional to help lead new product development to support their significant focus on growing their Community Investment Platform. This is the opportunity to work closely with the Senior Director of Finance and Operations to collaborate on creating innovative solutions to help expand their LIHTC, NMTC, and Historic Tax Credit business by determining how best to increase their production volume through program research, including in-depth knowledge of tax, and accounting, to understand how best to offset tax liability when utilizing these different types of tax credits. Our client has a strong preference for a CPA who is knowledgeable of and experienced with Partnership Tax (K-1 s) returns, accounting policy, financial reporting, and annual/quarterly budgets and forecasts, etc. to align new product development with the current state of the market based on their understanding of the tax implications of LIHTC projects and challenges with accounting for these types of tax credit deals.
This role will collaborate cross-functionally with leadership and teams in offices across the country to introduce and educate them on these new Tax Credit programs and initiatives. This position offers a long runway of growth and advancement opportunities personalized to your interests and professional goals as well as really being a key part of building something with a great group that will look to you for innovative ideas and value your suggestions
- Responsible for developing new products and services as well as researching financial and tax implications and challenges/obstacles associated with each
- Collaborate with internal teams to assemble and oversee annual/quarterly budgets and forecasts for this division of the bank while identifying opportunities to meet and/or exceed the annual financial plan
- Collaborate with Accounting teams to understand the financial performance of this group and the impact on GAAP financial statements
- Responsible for preparing advanced short- and long-term financial forecasting, budgeting, and reporting
- Work with the Tax team to understand annual state and federal tax liabilities and propose appropriate amounts of tax credits that they could deliver to offset taxes
- Explore and make recommendations for various ways to offset state tax credit liabilities
- Ensure proper accounting and tracking of K-1s
- Understand the impact of operations on key financial metrics (Public Welfare Investment test, pre-tax pre-provision income, net income after tax, CET1 ratio, operating leverage, tax credit carryforward, etc.) and assess the short- and long-term planning for these metrics
- Collaborate with the Accounting Policy team to establish, modify, and refine accounting policies related to tax credit investments and community development loans
- Interface with the Legal team for various legal issues
Our Client
- This impressive, highly reputable national bank and its affiliates provide a comprehensive suite of products and services and operate more than 1,000 branches in 10+ states
- Strong appetite for growth; hired 32 people in 2 years
- Dedicated to helping improve communities by providing billions of dollars in financing for high-impact community development projects
- Provide construction and permanent financing, construction period private placement bonds, investment in 9% and 4% LIHTC, upper- and lower-tier equity bridge loans, access to Federal Home Loan Bank Affordable Housing (AHP) grant program, and pre-development loans for LIHTC projects
- Strong commitment to diversity, equity and inclusion
Ideal Candidate Profile // Qualifications
- Bachelor s Degree
- 5+ years of Affordable Housing/LIHTC experience and related Finance, Accounting, and/or Tax experience
- CPA
- Commercial Real Estate lending and/or investing experience
- Excellent Excel skills and robust analytical skills
- Advanced written and verbal communication and presentation skills
Our Firm KM Partners
KM Partners national Executive Search and Professional Recruitment practice areas focus on high-growth, impact-investment-oriented businesses across relevant industries, including Investment Management, Real Estate, Clean Energy, Sustainable Infrastructure, and related Business and Professional Services. With a core focus in Tax Credits (LIHTC, NMTC, Historic, & Renewable), Multifamily, Affordable and Senior Housing, we partner with clients and place industry-specific professionals throughout the United States. We represent C-level Executive Leadership, Middle Management, and experienced Associates across industry professions.