Assistant Vice President - Construction Loan Servicing

Citi Community Capital (CCC) is an important part of Citi's Investment Bank, responsible for meeting Citi's community development lending and investing goals under the Community Reinvestment Act (CRA). Our core competencies are investment banking, lending, trading, and securitization. Our core products are construction loans, permanent loans, and Low Income Housing Tax Credits (LIHTC). CCC lends and invests in excess of $3 billion per year throughout the United States, with a primary focus on financing affordable multifamily rental housing developments.  CCC is part of the Municipal Securities Division in the Institutional Clients Group of Citi.

CCC is looking to add an experienced professional to join its Transaction Management Group.

Job Responsibilities:

  • Service a portfolio of multifamily rental construction, land, and mixed-use transactions (including loans, bonds, and letters of credit).
  • Book the transactions in various loan servicing and trade capture systems.   Ensure economic characteristics and risk profile of portfolio are correctly captured across risk, finance, and business records.
  • Demonstrate solid understanding of deal structure, funds flow, economics, and servicing requirements as extracted from deal summaries and legal documents.
  • Liaise with borrowers, city agencies, equity partners, and other external parties.   Coordinate internally with Asset Manager, Construction Risk, and Operations.
  • Maintain budget spreadsheets to ensure all sources and uses are balanced at all times and within the required lien laws.
  • Ensure requirements/conditions are met prior to monthly loan advances.   Display a strong understanding of policies and procedures.
  • Review and fund loan advance requests from borrowers including validating the supporting invoices, engineering reports, change orders, and lien waivers.
  • Monitor the ongoing updates of the portfolio, including participating in extensions, modifications, and other pipeline events.
  • Assist in the new deal closing and perm conversion process as needed.
  • Maintain deal ticklers to track insurance policies, UCCs, flood status, escrow accounts, and collateral letters of credit.
  • Facilitate data requests from internal teams as well as from regulators, borrowers, and other third parties.
  • Identify efficiency improvements in all operational aspects of the business.
  • Participate in special projects.


  • Candidate is required to have a BA/BS with a minimum of 3 years experience in real estate industry/loan administration, or equivalent role.   Previous experience with affordable multifamily deals preferred.
  • Individual must have excellent communication, organizational and interpersonal skills.    Ability to multi-task under tight deadlines is required.
  • Energetic individual who shows initiatives, is a team player, and has a positive attitude to change. 
  • Ease with learning new systems/applications required.   Good excel skills are also required.
  • Quick learner and ability to work with minimal direct supervision.

About Citi:

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.

Citi’s Mission and Value Proposition explain what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.

Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.

The business:

Citi Community Capital (“CCC”) is the community lending and investing arm of Citi. It is housed in the Municipal Securities Division of Citi’s Institutional Clients Group. Unique among its peers, CCC provides a comprehensive array of financial products, from investment banking to lending and equity investment, designed to create strong communities and contribute toward Citi’s Community Reinvestment Act performance. 

Committed to the communities we serve, CCC finances both straightforward and highly structured transactions for non-profit and for-profit developers, Community Development Financial Institutions, and state and local government agencies.

Our financings may employ a combination of taxable and tax-exempt loans or bonds; Low Income, Historic or New Markets Tax Credits; and government and private subsidies. CCC can provide capital directly or as an intermediary. We are a construction lender and a permanent lender, a Fannie Mae and Freddie Mac mortgage banker, and principal in unique equity investments – all designed to improve neighborhoods, create jobs, or improve the health care services or educational opportunities available to the communities we serve.

The projects we finance serve special needs populations including our nation’s homeless population, seniors and those with disabilities, as well as low income families and individuals. We are the leading investment banker, lender or equity provider in many of the areas in which we participate, and are generally acknowledged to be among the most creative and innovative firms in the industry.

We work throughout the country from 13 offices and have been the #1 affordable housing lender in the United States in each of the past seven years as reported by Affordable Housing Finance magazine. That success is due in large part to having the strongest, most innovative team of professionals in the country. Our work doesn’t just stop when we originate, structure and close a transaction; we have full underwriting, asset management and support groups that analyze and manage our transactions from closing through construction and during the life of the asset or program we’ve financed. Portfolio, risk management and finance professionals ensure that our activities remain within our economic and risk thresholds. With Citi’s capital committing capability and team of experienced professionals, we are able to provide financing solutions that are specifically designed to meet each client’s needs.

This Employer Participates in E- Verify.




Job Location: New York, New York, United States
Date published: 25-Sep-2018
Share with: Facebook LinkedIn Twitter Google Plus Viadeo