Login for faster access to the best deals. Click here if you don't have an account.

Tax Oriented Investments- Structured Housing Investments- Transaction/Portfolio Manager - VP Full-time Job

9 months ago Banking Atlanta   100 views
Job Details

The Structured Housing Investments (SHI) Group within Tax Oriented Investments (TOI) is an equity investor in affordable housing for low income households. The group is based in Chicago and is part of the Investment Bank's Securitized Products Group. SHI primarily invests through syndicators as a sole limited partner in investment funds that qualify for IRS Code Section 42 low-income housing tax credits (LIHTC).


Marketing / Pre-Award

  • Participate in initial discussions with syndicators and sellers about their situations and the applicability and benefits of the alternative SHI structures.
  • Negotiate and execute Confidentiality Agreements and coordinate with internal JPMC counsel.
  • Define parameters of an indicative pricing/benefit schedule for us to model and help decide what level of pricing to propose on a specific portfolio (internal metrics, diversification, etc.).
  • Complete initial screening of investment opportunities received from Syndicators/Sellers (including a pre-screening of developer names, project names and locations in HIMS database).
  • Perform pricing analysis of new investment opportunities and participate in pricing negotiations with Syndicators/Sellers.
  • Coordinate and conduct pre-PIC pricing presentation for Head of TOI.
  • Agree on pricing/verbal award.
  • Review all available initial information on portfolio (including Yellow Flags list) to identify any initial property/portfolio issues.
  • Prepare PIC package and finalize all PIC materials.
  • Coordinate pre-PIC presentation materials with Risk Management to preview opportunity and potential risks and issues.
  • PIC meeting, presentation and approval.

o Need to complete Transaction Manager HIMS inputs prior to and after the PIC meeting.

  • Coordinate negotiation and execution of Award Letter/LOI.
  • Regularly update SHI Marketing Report.

Due Diligence

  • Work with syndicator/seller to complete property spreadsheets, templates.
  • Review syndicator-prepared property investment packages and various due diligence documents (e.g., market studies and appraisals). Identify concerns, issues, inconsistencies, red flags, etc. and prepare follow-up questions.
  • Make judgments re: critical must-have's vs. additional information to understand details; consider a variety of potential mitigating factors that can make "issues" acceptable.
  • Conduct conference calls with syndicator/seller on more complex and/or subjective issues - ensure the involvement of appropriate people (e.g., asset managers, underwriters, bankers) and achieve resolution for difficult issues that may require negotiation of risk-sharing parameters or other Upper-Tier provisions.
  • Review Background Checks and identify any items of potential concern.
  • Review syndicator/seller Anti-Corruption Questionnaires and escalate any potential concerns; Prepare Deal Team questionnaires. Ensure transaction documents include required anti-corruption provisions.
  • Decide when to involve JPMC Compliance and/or TOI risk management to get sign-off on issues.
  • Review property level and fund level financial models.
  • Review and approve Legal Due Diligence Summaries and Issues Lists as well as Syndicator/Seller responses.
  • Lead document negotiations (e.g., Upper-Tier Agreements including LLCAs and Purchase & Sale Agreements) and ensure provisions address risk mitigation of all issues identified in DD process as well as consistency with pricing structure and model assumptions, etc.
  • Evaluate lower-tier and upper tier GP comments and requirements; make judgments re: what additional risks are acceptable; negotiate as necessary.
  • Provide information as required for third party (lender, HUD, State HA) consents; may require direct discussions with third parties re: acceptable level of information.
  • Coordinate process to obtain JPMC Parent Guarantees from JPMC Treasury.

TOI-Housing Investment Committee

  • Complete FIC package ensuring the appropriate level of detail throughout and make judgements on what risks to highlight and how to mitigate.
  • Coordinate pre-FIC presentation materials with Risk Management.
  • FIC meeting, presentation and approval.

o Need to complete Transaction Manager HIMS inputs prior to and after the FIC meeting.

  • Follow-up with syndicator/seller on any required additions and/or changes to pricing and/or terms and conditions required by the Committee.


  • Review and comment on Outside Legal Counsel Tax Opinion; obtain final version.
  • Confirm all closing documents finalized, accurate and fully executed; obtain Secretary's Certificates for (i) Investor entity (FNBC Leasing) and (ii) Guarantor (JPMC & Co.) via JPMC Office of the Secretary website.
  • Confirm JPMC Guaranty gets executed by Treasury and delivered on time and property inputs in HIMS completed for all closed properties as well as accounting model uploaded into JPM systems (HIMS/HWeb/RAM).
  • Review and approve initial funding and ensure internal Entity Reporting is completed and approved.
  • Review and sign CD-1 form, to be delivered to OCC.


  • Monitor receipt of post-closing deliverables (e.g., insurance certificates, stabilization/PIS certificates, outstanding lower-tier signatures).
  • Ensure timely receipt of Closing Binder.


Portfolio Management

  • Complete Annual Portfolio Review PMC Presentation Package.
  • Review/Approve Put Option Analysis and Property Sale Consent Requests.

o Complete detailed analysis, including estimated residual valuation and accounting impact, and confirm final decision.

o Complete internal memo describing the put option exercise (or non-exercise), which may require PMC approval depending on magnitude of sale proceeds.

o Oversee execution of closing documentation.

  • Review/Approve Ongoing Request for Consents.
  • Prepare Hybrid Fund Repricings and discuss significant issues requiring decisions/negotiations with Syndicators.
  • Complete Hybrid Fund Annual Pricing Updates.
  • Complete Quarterly Risk Ratings.
  • Ensure the proper tracking and processing of lower-tier operating cash flow distributions and investor service fees.
  • Monitoring reporting requirements across the portfolio.
  • Track Placed in Service and Stabilization status of lower tier properties.
  • Complete Special Projects.
  • Review and approve fundings.
  • Obtain quarterly reports and annual tax returns and financial statements.
  • Maintain compliance with TOI Procedures/Compliance Projects and Documentation, including Annual Anti-Corruption Certifications.
  • Track and manage performance of syndicators and lower tier properties.
  • Monitor and manage TOI Technology systems and initiatives and ensure they sufficiently meet SHI's business process and needs.JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs.

Company Description
JPMorgan Chase Bank