American Institute of Architects
Development Risk Manager - Securitized Products - Vice President
American Institute of Architects, Chicago, Illinois, United States, 60290
Job Description
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
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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
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