SVB's Community Development Finance team is responsible for executing the Bank's Community Reinvestment Act strategy through the origination and management of Community Development Loans and Investments. To date, Silicon Valley Bank has committed over $1 billion in loans and $500 million in investments that support the new construction or rehabilitation of affordable housing for low-income seniors, families, veterans, individuals with special needs or disabilities, and the chronically homeless. With these loans and investments, SVB aims to make a meaningful impact in the communities where we do business.
The CDF team is undertaking a major ramp-up initiative to significantly grow our Low Income Housing Tax Credit investments over the next three years. The Associate will play a critical role in underwriting, closing, and asset managing the growing LIHTC investment portfolio.
As an Associate, you will:
Assist with multi-investor fund originations and closings by underwriting upper-tier Fund structure, coordinating review of upper-tier Fund documentation and preparing closing documentation, underwriting lower-tier properties, preparing investment memo for approval, and collaborating with internal partners to prepare accounting and regulatory reports.
Assist with the build-out of newly acquired asset management database.
Conduct quarterly review of Fund performance reports to capture emerging risks posed by projects, project sponsors, or syndicators that may jeopardize tax credit delivery.
Review quarterly and annual tax reports to confirm achievability of forecasted tax credit benefit delivery.
Assist in preparing Annual Asset Management Report.