What are the responsibilities and job description for the Tax Credit Asset Manager position at Mercantile Bank?
Join Mercantile Community Partners, a subsidiary of Mercantile Bank Corporation, as a Full-Time Tax Credit Asset Manager and embark on a career filled with opportunities for innovation and impact. This role is perfect for individuals who thrive on problem-solving and are keen to enhance systems and processes for greater efficiency and quality. You'll collaborate with a dynamic team focused on driving high performance and customer-centric solutions.
Core Responsibilities:
- Be part of a growing team that provides tax credit financing solutions that meet economic and community needs for developers and investors.
- Monitor asset quality and compliance of new and existing tax credit investment portfolio at both the project/real estate and investor levels.
- Partner with internal and external parties to coordinate post-closing requests with a high degree of customer service.
- C Generate clear and consistent reporting, presenting key statistical data and recommendations to mitigate any credit risks.
Whether you choose to work from Grand Rapids, MI, or other Mercantile Markets like Lansing, Troy, Kalamazoo, Mount Pleasant, or Traverse City, you will be part of a forward-thinking organization that values inclusivity and creativity. Embrace the chance to redefine asset management while contributing to an energetic culture dedicated to excellence.
Why Mercantile Bank?
Mercantile Bank was founded by entrepreneurs who believed building strong relationships and communities is accomplished through collaboration and innovation. It's more than being a financial institution, it's being a trusted ally and community partner. As Michigan's largest community bank, our roots are deeply embedded in the diverse communities we serve. Our commitment to our customers and community is at the core of all we do.
As an employee of Mercantile Bank, you will receive competitive compensation, bonus opportunities, and best-in-class benefit options. With a minimum of 3 weeks' vacation, sick time, 11 paid holidays, generous 401k match of 5%, company paid life insurance, tuition reimbursement, IVF and adoption assistance, zero-interest loans for fitness equipment and business attire, discounted bank services, employee stock purchase plan, 529 savings plans, health savings accounts, flexible spending accounts, legal protection, exceptional training and development opportunities, and encouragement to connect with community through volunteer opportunities.
A Look into Your Day
As a Tax Credit Asset Manager with Mercantile Community Partners (MCP), you will play a pivotal role in the management of our portfolio of Low-Income Housing Tax Credits (LIHTC) and Historic Tax Credits (HTC) equity investments. Your responsibilities will include monitoring asset quality and compliance, servicing post-closing requests, and reporting to both internal and external stakeholders. You'll analyze operating budgets, variance reports, and tax returns to ensure that equity installment milestones are achieved and maintain compliance with relevant regulations. Additionally, you will coordinate the equity installment funding process while fostering collaboration with developers, property owners, and other internal departments. As MCP expands its relationships with third party investors, you will have the opportunity to establish critical processes and policies, identify areas for improvement, and contribute to a culture of excellence and innovation.
Your expertise will ensure that we meet both economic and community development goals effectively, all while providing high-quality customer service and communication.
What We're Looking For
To excel as an Asset Manager with Mercantile Community Partners, you must possess a thorough understanding of the tax credit investments landscape, including relevant legal and regulatory environments, limited partnership and operating agreements, and loan documents. Strong financial and analytical skills are crucial for conducting comparative analysis, reviewing financial statements, and identifying investment and real estate risks. Effective communication abilities are key, as you will prepare and present findings to stakeholders.
Demonstrated time management and organizational skills, along with keen attention to detail, will help you succeed in this role. Additionally, you should be open to engaging in site visits, using appropriate personal protective equipment (PPE), and actively seeking opportunities to enhance systems and processes for greater efficiency and quality.
Requirements:
- Bachelor's degree in a business-related field. Preferably finance or accounting.
- At least 3 years of tax credit investment experience with a focus on real estate asset management preferred
- Strong written and verbal communication skills
- Experience in gathering data and generating reports
- Must be willing to travel for property site visits, industry conferences, and other meetings as necessary