Job Description:This job is responsible for the delivery of integrated credit solutions to clients as well as on-going portfolio management. Key responsibilities include underwriting and negotiating new transactions, partnering with client-facing teammates to consult on sales opportunities, and providing the product expertise to deliver effective client solutions. Job expectations include providing on-going monitoring of client portfolios, ensuring accurate and timely analysis of financial statements, assignment of risk ratings, and required client reviews.
This job is within the Community Development Banking (CDB) platform, with a focus on Low-Income Housing Tax Credit (LIHTC) investments and other community development finance solutions. This role is responsible for leading complex credit underwriting, structuring, and approval of investments and loans that drive affordable housing, economic development, and impact investing outcomes across the U.S.
Responsible for partnering with credit risk management, capital markets, and community development, partnering closely with originations, capital markets, portfolio management, and senior credit leadership to deliver high-quality, well-structured transactions aligned with the bank's risk appetite and strategic priorities.
Responsibilities:- Evaluates new end-user credit and equity opportunities including identification and assessment of risks and identifies mitigating factors.
- Member of client-facing team to consult on sales opportunities and provide the product expertise and consultation necessary to deliver the best possible solution to the client.
- Underwrites new transactions, analyzes credit risk, negotiates and closes deals, while adhering to internal policy, procedures and regulatory requirements.
- Structures the terms of loans and tax credit investments with respect to the various aspects that make up a loan and tax credit equity investment (e.g. pricing, pay-in, rates, payment, term, collateral and tax credit compliance)
- Prepares credit approval documentation and reviews due diligence and legal documentation to assure alignment with credit approval.
- Manages the credit process for a portfolio of clients, loans and investments including reviewing financial statements, assessing project performance and the client's compliance with financial covenants, confirming the accuracy of risk ratings, and recommending changes as warranted.
- Mentor junior underwriters and analysts supporting culture of excellence, rigor and continuous development.
- Effective communication with clients, internal partners and approvers, legal counsel and third-party consultants.
Required Qualifications:- 5 + years of experience in credit underwriting, structured finance, or commercial real estate, with significant exposure to LIHTC and community development finance.
- Experience with LIHTC program mechanics, compliance, and risk factor, Affordable housing finance and capital stack, Real estate credit underwriting fundamentals.
- Strong financial modeling and analytical skills.
- Demonstrated ability to underwrite and approve complex, large-scale transactions.
- Experience interacting with senior credit officers and risk committees.
Skills:- Adaptability
- Attention to Detail
- Data Collection and Entry
- Prioritization
- Recording/Organizing Information
- Analytical Thinking
- Critical Thinking
- Issue Management
- Oral Communications
- Problem Solving
- Collaboration
- Credit and Risk Assessment
- Decision Making
- Innovative Thinking
- Written Communications
Shift:1st shift (United States of America)
Hours Per Week: 40
Pay Transparency detailsUS - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)
Pay and benefits information
Pay range
$103,000.00 - $141,000.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
Benefits
This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
