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Citi · 23 hours ago

Budget Closer Assistant Vice President

Los Angeles California United States

Full-time

Hybrid

Mid, Senior Level

$94K/yr - $141K/yr

5+ years exp

Citi Community Capital is a leading national financier of affordable housing and community development projects. The Affordable Housing Construction Budget Closer plays a critical role in overseeing and closing complex construction projects, ensuring that budgets align with project requirements and financing terms.

BankingFinanceFinancial Services

H1B Sponsor Likely

Responsibilities

Thoroughly review construction schedules, timelines, construction sources and uses, and other relevant project documentation. Assure that the construction budget accurately reflects and adheres to the terms and conditions outlined in each source document, including but not limited to loan agreements, equity commitments, grant agreements, and subordinate financing instruments

Accurately calculate and verify complex financial components, such as interest reserves and deferred developer fees, ensuring their proper inclusion and allocation within the overall project budget

Demonstrate a comprehensive understanding of diverse affordable housing financing mechanisms, including tax-exempt and taxable bond financing, Low-Income Housing Tax Credits (LIHTC), various grants, and subordinate debt. Ensure the budget properly integrates and accounts for all components of the capital stack

Work closely and proactively with clients (developers) to review, negotiate, and finalize construction budgets, ensuring mutual understanding and agreement on all financial aspects prior to closing

Facilitate the seamless closing of construction loans, coordinating the initial draw and subsequent funding processes according to established timelines and legal documentation

Act as a central point of contact and collaborate effectively with a diverse group of internal and external stakeholders, including internal and external legal counsel, the Underwriting team, Relationship Bankers, and the broader closing team, to ensure efficient execution and successful project closings

Identify potential budgetary discrepancies, risks, or compliance issues and work collaboratively to resolve them before project closing

Qualification

Affordable housing financeFinancial analysisBudget managementFinancial modelingMicrosoft ExcelConstruction processesCommunicationInterpersonal skillsOrganizational skillsProblem-solving

Required

Minimum of 5+ years of experience in affordable housing finance, real estate development, construction finance, or a related field, with a focus on financial analysis and budget management

Strong analytical and financial modeling skills, with proficiency in Microsoft Excel and other relevant financial software

Deep understanding of affordable housing programs, regulations, and financing structures, including LIHTC, tax-exempt bonds, grants, and various forms of subordinate financing

Familiarity with construction processes, budgeting, scheduling, and cost estimating within the context of real estate development

Excellent verbal and written communication skills, with the ability to articulate complex financial concepts clearly to diverse audiences

Proven ability to build strong working relationships and collaborate effectively with clients, internal teams, and external partners

Highly organized, detail-oriented, and capable of managing multiple priorities in a fast-paced, deadline-driven environment

Strong problem-solving abilities and a proactive approach to identifying and resolving issues

Preferred

A Master's degree or relevant professional certifications (e.g., CPA, CFA) is a plus

Benefits

Medical, dental & vision coverage

401(k)

Life, accident, and disability insurance

Wellness programs

Paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays

Company

Citi

Glassdoor3.8

Citi's mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.

Founded in 1812

San Antonio, Texas, USA

10001+ employees

https://www.citi.com

H1B Sponsorship

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