Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
Morgan Stanley's Community Development Finance (CDF) team is dedicated to implementing a first-rate community development program. The department's responsibilities include community development lending, investing and grant making; community relations; regulatory relations; and regulatory compliance. The department's target market is low- to moderate-income (LMI) communities in Utah, New York, Washington DC and other regions nationwide.
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Primary Responsibilities
The Candidate will work directly with internal staff and external partners. The position is heavily weighted towards financial analysis, project and fund performance evaluation, and requires knowledge and direct experience with affordable housing programs and tools, including Low-Income Housing Tax Credits, and an understanding of the fundamentals of multifamily real estate.
Responsibilities
- Provide analytic, operating, and administrative support to transaction officers, with focus on affordable housing construction lending, tax equity and private equity investment products
- Perform preliminary background analysis of markets and financial analysis of sponsors and guarantors
- Assist in the pre-closing due diligence and in the review and approval of various project documents
- Assist with originations and due diligence, financial analysis, and assembling submissions for credit review or presentation to investment committee.
- Ensure all internal and external closing requirements are met and appropriately documented; maintain project files
- Review capital calls and approve requests to ensure proper disbursements, including analysis of tax benefit schedules, where applicable
- Review monthly construction loan draws, monitor construction progress and financial performance
- Assist with loan and investment quarterly and annual reviews
- Liaise with Credit Risk Management and Operations department
Skills Required
- Strong capacity, based on experience and demonstrated success, in asset management of affordable housing developments at both the property and fund levels
- Excellent interpersonal skills and ability to work effectively with numerous constituencies
- Strong interpersonal skills - Freely develops networks, builds consensus, prioritizes effectively, and develops alliances across organizations and numerous constituencies
- Excellent attention to detail and follow through
- Strong written and oral communication skills including presentation skills
- Microsoft Office including Excel and PowerPoint
- Strong organizational skills and ability to work both independently and as part of a team and manage a variety of projects and tasks
Experience
- 5-7 years of relevant work experience
- 3 years minimum required - Direct working experience with Low-Income Housing Tax Credits (LIHTC)
- B.A. or B.S. in Business, Finance, Economics, Accounting or other business-related field is preferred
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 85 years. At our foundation are five core values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - that guide our more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. We Firm is differentiated by the caliber of our diverse team. While our company culture and commitment to inclusion define our legacy and shape our future, helping to strengthen our business and bring value to clients around the world. Learn more about how we put this commitment to action: morganstanley.com/diversity. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry.
We're committed to bringing passion and customer focus to the business.
Expected base pay rates for the role will be between 110,000 and 185,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).