The Tax Credit Investment Asset Manager's role in the Tax Credit Investment Group (TCIG) is to provide total quality and continuous improvement in tax credit program compliance and asset management for the tax credit business in general, and the New Markets Tax Credit (NMTC) program in particular.
Assists the Tax Credit Investment Group in general, and the NMTC Product Manager in particular, in developing and maintaining necessary portfolio reports and ensuring their distribution to the appropriate parties. Works with Relationship Managers to ensure timely receipt of information from investment customers and subsequent review of investment accounts and/or investment portfolios. Manages process for timely and accurate periodic reviews/valuation of investment accounts. Coordinates NMTC Advisory Board meetings, agendas and minutes, ensuring that all documentation is reported according to established policies, procedures, and regulatory requirements. Develops and maintains system(s) for investment file contents and quality control; including the receipt of required federal certificates. Assists in periodic review of operating procedures, underwriting guidelines and loan/investment policies. Assist RM's in coordinating investment closings, bookings and fundings.
Oversees the periodic collection of customer-level data necessary to report the US Treasury's Community Development Financial Institutions Fund (CDFI Fund) with respect to PNC's direct allocations of NMTC.
Works with service partners (Finance, Corporate Accounting, Tax, etc.) to ensure timely and accurate financial reporting for and/or NMTC portfolios. Interface directly with customers and CDEs as necessary to collect data necessary to complete financial and tax reporting and asset valuations.
Supports product/policy development efforts by proposing ideas, potential services, and/or policy shifts that could support customer needs. Keeps management fully and promptly informed by communicating all relevant developments, progress or problems relating to individual transactions, and necessary changes or impediments to the TCIG business strategy, investment policy or procedures.
Education: college degree in Business, Finance, or Accounting
Experience: 4 - 5 years experience in portfolio management. Prior leadership experience and ability to manage projects independently is preferable.
Skills: Demonstrated written and verbal communications skills. Project management skills. Working knowledge of compliance regulations for the various tax credit programs offered by PNC.