Bank of America Corporation

Senior Asset Manager-LIHTC

Bank of America Corporation$137K — $162K *
Real Estate & Construction
5 - 7 years of experience
Job Overview by Ladders

Qualifications

  • Minimum 7 years of Asset Management experience with at least 5 years in the LIHTC Industry
  • Strong understanding of real estate spreadsheets, audits, and tax returns
  • Ability to prepare meaningful proformas
  • Strong negotiation and interpersonal skills
  • Strong understanding of LIHTC benefit schedules
  • Ability to identify and resolve compliance issues
  • Completed at least 1 LIHTC compliance course

Responsibilities

  • Identify, classify, quantify, and mitigate risk
  • Monitor assets through development to stabilization
  • Conduct site visits based on risk classification
  • Prepare semi-annual Watched Asset Reports and present findings
  • Analyze and negotiate capital transactions like refinancing
  • Work with counsel on partnership amendments and waivers
  • Collaborate with general partners to address compliance issues

Benefits

  • Access to paid time off
  • Industry-leading benefits
  • Resources and support for employee impact
  • Opportunity to contribute to community growth
Full Job Description
Job Description:

Responsible for the oversight and management of a Direct Low Income Housing Tax Credit Portfolio up to approximately 60-70 Assets. The Portfolio will be a combination of Development and Stabilized Assets.

Responsibilities include:
  • Identifying, classifying, quantifying and mitigating risk
  • Monitor the Development Phase of the Asset through Conversion and Stabilization
  • Conduct site visits according to risk classification
  • Prepare semi-annual Watched Asset Reports and present during Watched Asset Meetings
  • Analyze and negotiate all Capital Transactions such as Refinancing and Year 15 or Early Exits
  • Analyze, negotiate and work with Counsel on Partnership Amendments
  • Analyze and negotiate waivers, as needed
  • Work with General Partners (and consultant, if needed) on any Compliance issues
  • Review and analyze K-1s, Tax Returns and Audits, as per policy and procedures
  • Prepare Tax Return and Audit Checklists for each Investment
  • Prepare stay/leave analysis, as necessary
  • Work with WCAAs to maintain accurate data in CARMA and EDR
  • Maintain strong relationships with GP clients and deliver first-class service
  • Work cross-divisionally with internal partners, as appropriate


Required Skills:
  • Minimum 7 years Asset Management experience with at least 5 years in LIHTC Industry
  • Strong understanding of real estate spread sheets, Audits and Tax Returns
  • Ability to prepare meaningful proformas
  • Strong understanding of Capital Accounts
  • Strong negotiation skills
  • Strong communication and inter-personal skills
  • Strong understanding of LIHTC benefit schedules
  • Ability to identify and find resolution to Compliance issues
  • Completed at least 1 LIHTC compliance course
  • Ability to work as a Team player


Desired Skills:
  • BA / BS
  • Experience in negotiating end of life of Assets
  • Experience in workouts
  • Experience with HTC and State Credits


Skills:
  • Business Acumen
  • Loan Structuring
  • Product Management
  • Risk Management
  • Coaching
  • Consulting
  • Decision Making
  • Influence
  • Result Orientation
  • Credit Documentation Requirements
  • Portfolio Analysis
  • Regulatory Compliance
  • Stakeholder Management
  • Underwriting


Shift:
1st shift (United States of America)

Hours Per Week:
40

Pay Transparency details

US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100)

Pay and benefits information

Pay range

$137,000.00 - $162,500.00 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.

About Bank of America Corporation

Bank of America Merrill Lynch is the corporate and investment banking division of Bank of America. It provides services in mergers and acquisitions, equity and debt capital markets, lending, trading, risk management, research, and liquidity and payments management. It was formed through the combination of the corporate and investment banking activities of Bank of America and Merrill Lynch following the acquisition of the latter by the former in January 2009. Bank of America completed the acquisition of Merrill Lynch & Co on 1 January 2009. Bank of America began rebranding all of its corporate and investment banking activities under the Bank of America Merrill Lynch name in September 2009. In April 2010, Bank of America Merrill Lynch appointed Christian Meissner as head of investment banking for Europe, Middle East and Africa. In April 2011, Bank of America Merrill Lynch integrated its corporate and investment banking operations into a single division. In October 2013, Bank of America Merrill Lynch was recognised as the Most Innovative Investment Bank of the Year in The Banker's Investment Banking Awards.

Bank of America Corporation Careers

Join the dynamic team at Bank of America Corporation, a premier global financial institution where innovation, leadership, and growth go hand in hand. As one of the largest banks in the world, we offer unparalleled job opportunities and a culture that values diversity, inclusion, and professional growth. Work You’ll Do At Bank of America Corporation, you’ll be part of a team that’s dedicated to making a real difference. Whether you’re helping families buy their first home, advising businesses on expansion, or developing cutting-edge financial technologies, your work will have an impact. Our commitment to leadership in the financial industry has never been stronger, and we need passionate, skilled professionals to lead our journey. Explore a World of Opportunities From entry-level positions to leadership roles, Bank of America Corporation offers a variety of career paths in areas such as investment banking, technology, marketing, and risk management. Our job opportunities span the globe, providing the chance to work alongside the best in the industry and develop skills that will propel your career forward. Internship Programs Kickstart your career with Bank of America Corporation’s internship programs. These opportunities provide hands-on experience and a chance to engage in meaningful work that complements your academic studies. Interns gain invaluable networking opportunities, receive mentorship from seasoned professionals, and learn about the culture and operations of a global financial leader. Benefits and Growth Bank of America Corporation is committed to the well-being and continuous professional development of our team members. We offer a competitive benefits package that supports the health, financial stability, and work-life balance of our employees. Our training programs and development initiatives ensure that every team member has the opportunity to grow and advance within the company. Inclusive Culture We believe our strength lies in our diversity. Bank of America Corporation fosters an inclusive environment where all employees can thrive. Through diversity training and a commitment to equal opportunities, we cultivate leadership and innovation that reflect the wide-ranging communities we serve. Join Our Team Are you ready to advance your career at a company that’s at the forefront of the financial industry? Explore the positions available at Bank of America Corporation and find where your skills and interests align with our needs. We are continuously hiring and looking for individuals who are curious, creative, and eager to drive change. Stay Connected Keep up to date with the latest from Bank of America Corporation Careers by subscribing to our job alert emails. Tailor your subscription to receive updates that match your career interests and get insider tips that can help you during your application and interview process. Bank of America Corporation is not just a company—it’s a place where you can shape your future and the future of finance. Join us and be part of a team that’s redefining what a bank can be.
Learn more about Bank of America Corporation
Size
208,000 employees
Market Cap
$260.3 billion
Industry
Net Income
$17.8 billion
Founded
1998
5 Year Trend
-1.4%
NASDAQ

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