McCormack Baron Companies
  • 08-Jan-2019 to 29-Mar-2019 (CST)
  • MBS - Finance
  • St. Louis, MO, USA
  • Full Time

JOB TITLE: Vice President, Finance Manager

WHO WE ARE: 

McCormack Baron Salazar is the nation's leading for-profit developer of economically integrated urban neighborhoods. Since 1973, McCormack Baron Salazar has been a pioneer in community development and urban revitalization, with 166 projects in 38 cities and more than 17,795 units of attractive, high quality housing plus over 1.4 million square feet of commercial space totaling more than $2.9 billion of development investments. "Developing and Building Communities" is more than a slogan 'it's the focal point for all the company's work.

Since its founding, McCormack Baron Salazar has made quality, mixed-income housing the cornerstone of the company's mission to rebuild central cities across the United States that have deteriorated through decades of neglect and disinvestment. McCormack Baron Salazar's headquarters is located in St. Louis with offices in Los Angeles and San Francisco.  Together with its management arm, MBS employs more than 950 people nationally, of which about 125 are in St. Louis.

 

POSITION SUMMARY: 

The Project Finance department works across various development company urban revitalization projects, working with project teams to create the development's financial structure, managing the financial and legal aspects of the financial closing, and overseeing the conversion process upon project completion and stabilization. 

The Vice President, Finance Manager's role covers a portfolio of development projects, working closely with the Chief Operating Officer, Chief Investment Officer and individual Project Managers as each project progresses from conception through stabilization.  Finance Managers may work across several sectors associated with the Company's urban revitalization efforts, including Choice Neighborhood Initiative (CNI), HOPE VI, Low Income Housing Tax Credit (LIHTC), mixed-income and workforce or other market rate rental housing and other asset classes.

 

ESSENTIAL DUTIES AND RESPONSIBILITIES FOR EACH PROJECT:

  1. Work with Chief Operating Officer, Chief Investment Officer and Project Managers to establish and maintain project-specific financial models and to underwrite financial viability
  2. Work with Chief Operating Officer, Chief Investment Officer and Project Managers to secure pre-development, construction and permanent financing sources. 
  3. Independently or together with Project Manager, prepare and submit various state and federal regulatory filings and applications, including tax credit applications, HUD regulatory filings, supplemental funding applications, etc.
  4. Work collaboratively within the team and with McCormack Baron Management and McCormack Baron Asset Management staff to collect data and budget comparisons when building project budgets
  5. Participate in as-needed project-specific meetings with city/state housing and finance agencies and/or private sector debt and equity providers regarding project financing and regularly scheduled closing conference calls.
  6. Interface with outside legal counsel and financial advisors to negotiate and finalize critical closing documents, including loan documents, partnership agreement, ground lease, subsidy agreements, regulatory agreements, etc.
  7. Interact with Project Manager and various departments within the Company to facilitate draws during all phases of the project (predevelopment, closing, construction, conversion/stabilization); and tracking of lease-up and stabilization milestones and related deliverables; and transition the development post-completion to designated property and asset managers, facilitate draws, pre-lease units, stabilize operations, , including filing and file necessary regulatory paperwork .

KNOWLEDGE, SKILLS AND ABILITIES

  1. Strong analytical and communication (both verbal and written) skills are an absolute must. Ability to synthesize multiple data into clear, coherent verbal or written proposals essential to drive decision making among senior leadership
  2. Ability to populate and manipulate real estate financial modeling, including operating proformas, investment analysis, and sensitivity analysis
  3. Knowledge in IRC Section 42 compliance, including calculating Eligible Basis, Qualified Basis and Applicable Fraction, and critical milestones and deliverables necessary for program compliance.
  4. Knowledge of relevant financing and subsidy products, including FHA insured loans, HUD Mixed-Finance, Housing Choice Vouchers / Section 8, Rental Assistance Demonstration program and HOME
  5. Experience and ability to successfully manage several complex projects at various stages simultaneously
  6. Significant attention to detail with awareness of impacts to development and Company
  7. Results driven and ability to work collaboratively as well as independently
  8. Ability to operate in a matrixed organization, with project-based teams that vary from deal to deal.  Ability to work with and manage interactions with third parties including partners, lenders, equity investors and others.
  9. Ability to set timelines and work to achieve goals and milestone dates established for each project.
  10. Ability to problem-solve and think critically
  11. Familiarity with relevant software (e.g. MS Excel, Word, Outlook) and internet search tools

EDUCATION AND/OR EXPERIENCE

  1. Degree in economics, finance, real estate development or related field, or significant work-related experience
  2. 5+ years' experience in real estate transaction environment (developer, investor, lender, etc.) with preferred experience in affordable housing (e.g. bond issuances, tax credits, HUD programs, including Section 8 and/or public housing); experience in workforce, market rate housing or other real estate development and finance is a plus
  3. MBA or other advanced degree in business, law or real estate preferred

WORKING ENVIRONMENT:

Work will be primarily based in company headquarters in St. Louis, MO, with periodic national travel to development locations as needed for meetings, closings and significant project events.

 

COMPENSATION:

Company provides competitive salary and bonus program (dependent on experience), health benefits, 401K, health and dependent care savings plan, etc.

 

Note:  Internal and external candidates are personally responsible for all expenses; e.g., airline, mileage, moving, etc. when transferring or relocating between properties or states.  McCormack Baron Salazar is an equal opportunity employer (EOE/AA).

McCormack Baron Companies
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