Securitized Products Group - Development Risk Manager - Associate

Join a dynamic team at the forefront of affordable housing investment, where your expertise in real estate development risk will help shape communities and deliver impactful solutions.

As a Development Risk Manager (DRM) in the Tax Oriented Investments (TOI) group, you will play a critical role in evaluating and managing risks for affordable housing projects utilizing the Federal Section 42 Low Income Housing Tax Credit (LIHTC) program. Based in Chicago, you will collaborate with a team of professionals to ensure successful project delivery from feasibility through construction and stabilization, directly impacting the quality and competitiveness of our investments.

Job responsibilities

• Perform preliminary feasibility analysis of prospective investment opportunities from a design and construction perspective
• Conduct initial project underwriting site visits with Origination Officers
• Evaluate qualifications of development teams
• Analyze real estate market conditions and long-term competitiveness of built improvements
• Review site control, entitlements, approvals, soil, and environmental conditions
• Collaborate with third-party consultants to review project design, budget, schedule, and quality control programs
• Present prospective opportunities to the Investment Committee
• Assess sufficiency of construction contract, contingencies, and insurance coverage
• Review project documents for conformance to acquisition guidelines
• Monitor construction and lease-up progress with third-party consultants
• Oversee disbursement of debt and equity contributions
• Maintain project construction and lease-up databases
• Foster professional relationships among syndicator partners and industry colleagues

Required qualifications, capabilities, and skills

• Professional degree in Architecture, Engineering, or Construction Management
• 7+ years of experience in Architecture, Engineering, Construction, or Real Estate development; experience with multi-family and LIHTC properties preferred
• Thorough understanding of real estate development processes, with strengths in architectural, engineering, and construction practices
• Familiarity with principles of real estate finance
• Strong analytical and problem-solving skills
• Superior written, presentation, and quantitative communication skills
• Advanced PC skills, including experience with spreadsheets and databases
• Ability to work independently and interact with different levels of management
• Ability to prioritize workload and manage competing demands

Preferred qualifications, capabilities, and skills

• Proven ability to foster professional relationships within the industry
• Demonstrated ability to present complex information to senior stakeholders
• Experience managing project databases and reporting