Analyst II, Development Risk Management, Asset Management

PURPOSE & JOB SUMMARY The Development Risk Management (DRM) Analyst is responsible for assisting in managing the performance of a portfolio of multifamily properties in the development phase. You will support a group of DRM Asset Managers and be responsible for supporting the team to assess construction risks, monitor initial lease-up, and maximize investment benefits. ROLES & RESPONSIBILITIES Become familiar with Asset Manager’s asset monitoring plans for new deals through participation in due diligence, review of investment models, market studies, and Investment Committee packages. Review deal information housed in our PRISM system through the New Deal Input process to ensure it is accurate and it includes all data needed to facilitate monitoring processes. Monitor construction progress through collection and review of monthly draws, Engineering Consultant reports, and other project information and, when necessary, notify and discuss next steps with asset managers about any property that is not meeting expected projections. Collect and input rent information and monthly qualified occupancy data and compare it to original underwriting projections. Review and analyze proposed marketing plans and tenant relocation plans. Monitor initial lease-up and tenant qualification through the review of rent rolls, traffic reports, and qualified occupancy reports. Regularly follow-up on leasing and tenant qualification activities. Collect resident files for review by the Compliance Consultant. Advise Asset Managers and the management company when there are variances in lease-up or tenant qualification timing as compared to original projections, and there is a risk of missing tenant qualification deadlines, or other potential LIHTC compliance risk factors. Advise Asset Managers when qualified occupancy affects tax credits. Calculate tax credits and capital contribution timing, and steady state adjusters, based on qualified occupancy. For any property that is not performing according to projections, research the contributing factors by collecting additional report information and data and discussing next steps with the Asset Manager. Facilitate timely processing of capital releases: Review and analyze collected documentation. Seek the approval of benchmark documentation from other departments as required and update capital installment applications and prepare wire forms for review by Asset Managers. Electronically file all documentation. Establish and maintain professional and productive relationships with management companies. Analyze property performance deficiencies and develop projections. Analyze actual development costs (Cost Certification) as compared to underwriting. underwriting. STAKEHOLDERS You will engage and collaborate with a wide variety of company staff across multiple teams and departments at all management levels within the organization. In addition, you will engage routinely with a wide variety of external partners and resources. EDUCATION, SKILLS & REQUIREMENTS Bachelor’s Degree in business, finance, real estate, or related field, preferred 1 years of real estate or related financial experience, strongly preferred Real estate underwriting experience, preferred Understanding of partnership agreements, preferred Low Income Housing Tax Credit (LIHTC) experience, preferred Strong verbal and written communication skills Strong analytical skills Market analysis skills, desirable Proficient with MS Office, including Word, Excel (preferably intermediate ), PowerPoint, and Access Ability to work in a fast-paced work environment while managing conflicting priorities Ability to work independently and as part of a high performing team ORIX Corporation USA and its affiliates (“ORIX Group USA”) strive to achieve as safe an office environment as possible for employees. Accordingly, ORIX Group USA would like to see our vaccination rates against COVID-19 as close to 100% as possible. As of October 4, 2021, employees of any ORIX Group USA company are required to submit proof of vaccination in order to access any of the Company’s offices, unless they have an approved medical or religious exemption. In Texas, in accordance with state law, employees will not be compelled to be vaccinated if they object for any reason of personal conscience, based on a religious belief, or for medical reasons, including prior recovery from COVID-19. Should you receive an offer of employment, more information about how to submit proof of vaccination or an exemption request will be provided. Please note that for most roles, ORIX Group USA’s expectation is that the majority of employees will need to come into the office more often than not, and that some employees need to come in full-time. In other words, as a condition of employment, you should expect that if you accept a position at ORIX Group USA you must be fully vaccinated against COVID-19 before your start date, or request and receive an approved exemption shortly thereafter. Boston Financial Investment Management, LP and its parent company, ORIX USA, is an equal opportunity employer, providing equal employment opportunities (EEO), and is committed to diversifying its workforce. All employees and applicants for employment will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, genetics, sexual orientation, gender identity or expression, pregnancy, protected veteran status or other status protected by law. This policy applies to all terms and conditions of employment.