Senior Impact Investment Strategy Manager

Job DescriptionThe Affordable Housing Investment ("AHI") Senior Manager and the Impact Investment Strategy "(IIS") team are charged with targeting and customizing affordable housing investments to align with CVS Health's strategic imperatives while maximizing social impacts and business benefits. The IIS team's work addresses Social Determinants of Health and promotes social justice and equity (SJE) including health equity while helping CVS Health's business units achieve their goals related to membership growth and retention. In addition, the IIS team is responsible for working with Real Estate Investments (REI) to perform the asset management functions to monitor and report on the low-income housing tax credit ("LIHTC") portfolio which has grown significantly in the past 2 years. Given current internal guidance from the CIO, this portfolio will grow to $700 million by YE 2022 and $1 billion by year end 2023.The AHI Lead Director will be required to use specialized knowledge and skills obtained through training, education, and work experience to assist the REI team in making enhancements to the affordable housing (LIHTC) asset management and reporting functions. This position will be required to perform the financial analysis and underwriting of proposed affordable housing investments and provide support to the REI team through the acquisitions process including structuring the final partnership agreement, gaining Investment Committee approval and the acquisition or closing of each new investment. A key responsibility will be to assess the current financial reporting process including all external information being received and how best to utilize this information to prepare and provide accurate and timely financial reports to senior management.This position will be required to maintain key external and internal relationships and to provide timely communications to all internal stakeholders and external groups such as developers, non-profits, co-investors, government agencies and others to support CVS Health's purpose of bringing our hearts to every moment of your health and to promote business brand trust and loyalty. A successful candidate must be passionate and have a deep commitment to our mission and the communities we serve. The position requires knowledge of the most important housing issues facing low-income and vulnerable communities and the program innovations and policies that can help - solutions such as preservation, supportive housing, fair housing, economic mobility, resilience, and sustainable and equitable development. This position requires enthusiasm and excellent analytical, organizational, collaboration, and communication skills. The AHI Lead Director will report to the Head of Impact Investments Strategy and be encouraged to lead, contribute, and generate ideas within a team environment.Key responsibilities include:1. Focus on the asset management and financial reporting functions for all LIHTC investments pre and post stabilization. This includes using innovative software engineering skills to significantly upgrade and enhance current asset management processes and procedures and creating "risk" dashboards for environmental, political, and other risks that could impact the portfolio. This also includes enhancing and maintaining the LIHTC financial reporting processes including forecasting, aggregate yields, syndicator exposure, etc. to prepare and provide accurate and timely financial reports to senior management.2. Create, maintain and enhance an impact reporting process for our portfolio by utilizing using business intelligence and analytics skills to work with multiple internal and external databases and eventually creating a best-in-class impact dashboard for the affordable housing industry to be used to support industry ESG goals.3. Work with the Head of IIS and REI, to select affordable housing investments including building a database of all available LIHTC awards by state and participate in the underwriting, structuring and collection of required documentation to finalize each new investment, including working with the REI team to gain all necessary approvals and oversee the closing process to acquire these strategic affordable housing investments.4. Work closely with the Head of Impact Investments Strategy and work collectively with the IIS team and multiple enterprise groups by attending strategy meetings, presenting affordable housing investment strategy recommendations and rationale to senior leaders, and providing meaningful and timely responses to information requests to these key stakeholders. 5. Travel for property inspections, LIHTC events, and industry meetings and work on special projects as needed.Knowledge of: In-depth knowledge of the most relevant housing issues facing low-income and vulnerable communities and the program innovations and policies that can help provide timely solutions such as supportive housing, economic mobility, health equity, and sustainable and equitable development. Extreme proficiency of data management and integration including software engineering to create efficient and effective tools for capturing impact metrics, portfolio management, policy change implications, compliance, etc. Expert knowledge of the Low Income Housing Tax Credit "(LIHTC") program including all Section 42 LIHTC program compliance requirements. Thorough understanding and experience with upper-tier and lower-tier financial models and partnership agreements. Subject matter expert on all elements of LIHTC reporting requirements including forecasting, quarterly financials, annual budgets and annual tax returns/audits, along with experience in managing a large portfolio of affordable housing investments. Strong skills and experience in the underwriting, due diligence and acquisitions of affordable housing investments. A minimum of 5 years of software and data engineering experience utilized to build out reporting tools from complex databases.Skill In: Demonstrate strong financial, quantitative, and analytical skills. Proficient in relationship management with strong oral and written communication skills. Track record of strong cross-functional collaboration and partnerships. Proven ability to identify and monitor emerging LIHTC industry developments and trends. Provide affordable housing investment strategy recommendations and decisions to support Head of Impact Investment Strategy. Ability to analyze all implications of affordable housing investments in terms of portfolio objectives and performance. Experience with fund financial models that include investor capital payments, tax credits, distributions, property cash flows, fund-level expenses, and other tax benefits, as well as verifying the accuracy of such financial models. Collaborate with senior leaders across the company to understand specific needs and ensure the investment strategy meets those needs. Develop and maintain effective business relationships with syndicators, developers, accountants, attorneys, consultants, property managers, housing finance agencies, lenders, and other related parties that will enhance the asset management functions of the portfolio Review and assist in the preparation and distribution of financial and portfolio reports for senior leaders and board meetings. Proficient in MS Office Suite.Ability To: Demonstrate professionalism, diplomacy, composure, flexibilityPay RangeThe typical pay range for this role is:Minimum: 95,000Maximum: 209,000Please keep in mind that this range represents the pay range for all positions in the job grade within which this position falls. The actual salary offer will take into account a wide range of factors, including location.Required Qualifications4+ years of real estate finance, investment, underwriting, software and data engineering, and database management experience required.COVID RequirementsCOVID-19 Vaccination RequirementCVS Health requires certain colleagues to be fully vaccinated against COVID-19 (including any booster shots if required), where allowable under the law, unless they are approved for a reasonable accommodation based on disability, medical condition, religious belief, or other legally recognized reasons that prevents them from being vaccinated. You are required to have received at least one COVID-19 shot prior to your first day of employment and to provide proof of your vaccination status or apply for a reasonable accommodation within the first 10 days of your employment. Please note that in some states and roles, you may be required to provide proof of full vaccination or an approved reasonable accommodation before you can begin to actively work.Preferred QualificationsKnowledge of: Understanding of the meaning of Social Determinants of Health including the pursuit of health equity, Diversity and Inclusion and social justice and equity initiatives as well as ESG investing concepts. A keen understanding that that housing is health and how housing combined with supportive services can make significant positive impacts on residents' health and well-being. 4-8 years of real estate finance, investment, underwriting and database management experience required.Skill in: A talent for compelling storytelling and an ability to connect with a variety of audiences, both internal and external. Demonstrated commitment to racial equity and social justice and focus on maximizing positive environmental, social and governance benefits. Measuring the impacts of housing and supportive services on health outcomes and healthcare costs. Prior experience in working with mortgage loan document and industry underwriting standards for multifamily properties. Negotiating business terms for partnership agreements with developer/syndicator partners, including equity pay-in structure, cash flow waterfall, and specific guaranty and reserve requirements.Ability To: Develop and oversee innovative programs to address local community needs and help grow CVS Health's presence and impact. Deep commitment to CVS Heath's purpose and strategic direction. Apply knowledge of business and the marketplace to advance the organization's goals. Paint a compelling picture of the vision and strategy that motivates others to action. Intellectual Agility: Flexing and adapting thinking skills to meet the needs of different situations and circumstances; expanding problem solving to include multiple approaches or methodologies to resolve issues.EducationBachelor's Degree, Master's preferredBusiness OverviewBring your heart to CVS Health Every one of us at CVS Health shares a single, clear purpose: Bringing our heart to every moment of your health. This purpose guides our commitment to deliver enhanced human-centric health care for a rapidly changing world. Anchored in our brand - with heart at its center - our purpose sends a personal message that how we deliver our services is just as important as what we deliver. Our Heart At Work Behaviors support this purpose. We want everyone who works at CVS Health to feel empowered by the role they play in transforming our culture and accelerating our ability to innovate and deliver solutions to make health care more personal, convenient and affordable. We strive to promote and sustain a culture of diversity, inclusion and belonging every day. CVS Health is an affirmative action employer, and is an equal opportunity employer, as are the physician-owned businesses for which CVS Health provides management services. We do not discriminate in recruiting, hiring, promotion, or any other personnel action based on race, ethnicity, color, national origin, sex/gender, sexual orientation, gender identity or expression, religion, age, disability, protected veteran status, or any other characteristic protected by applicable federal, state, or local law. We proudly support and encourage people with military experience (active, veterans, reservists and National Guard) as well as military spouses to apply for CVS Health job opportunities.

Created: 2025-10-04