Asset Specialist - Construction Asset Management

Citi Community Capital (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 Community Reinvestment Act results, and an inclusive and rewarding experience for our employees.

Job Responsibilities:

• Manage and service an active portfolio of multifamily rental construction transactions (e.g., loans, bonds, and letters of credit).
• Demonstrate a strong understanding of deal structure and the economic terms of the transactions.
• Coordinate internally with Asset Managers, Construction Management, Risk, and Operations.
• Review disbursement requests and ensure submitted documents are in compliance with conditions of funding as stipulated in loan documents, review third party inspection reports, request title updates and manage flow of funds mechanics.
• Manage relationship with Borrowers regarding development budget compliance, monitoring budget reallocations from hard and soft contingencies and ensuring sources and uses are in balance through the life of the construction term.
• Review deal summaries and legal documents to ensure the risk profile and deal structure are accurate and consistent across all systems and tracking tools
• Monitor ongoing updates to the portfolio, including participating in extensions, modifications, and other deal events.
• Handle data requests from internal teams as well as from regulators, clients, and other third parties.
• Participate in longer term initiatives that improve the usability of systems and streamline process and procedures.

Qualifications

• Individual must possess excellent communication and interpersonal skills to build and maintain strong customer relationships.
• Ability to multi-task under tight deadlines is required.
• Energetic individual who shows initiative, is a team player, and has a positive attitude when faced with changes.
• Good Excel skills are also required.
• Quick learner and ability to work with minimal direct supervision.