Portfolio Manager II, Community Development

Wintrust Financial Corporation; Chicago (IL); On-site; USD 85,000 - 110,000; Full time

Benefits offered by this job

Medical Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

401(k) with company match

Parental Leave

EAP

Job summary

Wintrust Financial Corporation seeks a Portfolio Manager II – Community Development to manage and advance the Bank's community development investments, including LIHTC and NMTC programs, CDFIs, and SBIC funds.

You will analyze opportunities, prepare comprehensive packages, monitor portfolios, and collaborate with partners to ensure compliant, impactful investments that drive housing and economic development.

Qualifications

• Bachelor's degree in Business, Finance, Accounting or Economics.
• Strong understanding of credit, risk principles, and banking policies.
• Minimum 3 years in commercial real estate credit or related fields.
• Working knowledge of LIHTC, NMTC, CDFIs, or affordable housing finance.
• Strong analytical and business writing skills.
• Strong organizational skills with ability to manage multiple transactions.
• Good interpersonal skills with internal partners and clients.
• Accounting and finance knowledge; understanding real estate fundamentals.

Responsibilities

• Underwrite and analyze community development investment opportunities, including LIHTC funds, NMTC investments, CDFI pools, EQ2 investments, SBIC funds, and other mission-driven investments.
• Perform detailed financial, credit, and risk analysis of fund managers, syndicators, developers, sponsors, and underlying assets to assess investment viability and risks.
• Prepare investment opportunity and credit approval packages detailing structure, qualifications, performance, risks, impact, and rationale.
• Analyze credit and financial information of properties and individuals to determine risk level of credit extensions.
• Complete annual reviews, portfolio monitoring, risk ratings, and covenant analyses for existing investments.
• Oversee documentation and ongoing monitoring of asset and client performance.
• Review partnership agreements, operating agreements, subscription documents, fund documents, and closing documents.
• Review credit approval memorandums and closing documents for compliance with approvals.
• Interact with lending and investment staff, deal teams, and clients professionally.

Skills

Analytical thinking

Business writing

Organizational skills

Interpersonal skills

Real estate finance knowledge

Education

Bachelor's degree in Business/Finance/Accounting/Economics

Job description

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol “WTFC.”

Why join us?

• An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 12 years) and Employee Recommended award by the Globe & Mail (past 6 years)
• Competitive pay and annual discretionary bonus eligible
• Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company matches and tuition reimbursement to name a few
• Family-friendly work hours
• Promote from within culture

Portfolio Manager II – Community Development

The Portfolio Manager II, Community Development will support the ongoing portfolio management of the Bank's community development investment platform, including Low-Income Housing Tax Credit (LIHTC) investments, New Markets Tax Credit (NMTC) investments, Community Development Financial Institution (CDFI) and equity-equivalent (EQ2s) investments, Small Business Investment Company (SBIC) funds, and other CRA-eligible investments.

This position offers the opportunity to play a central role in advancing the Bank's community development strategy while supporting investments that create affordable housing, drive economic development, and deliver meaningful community impact.

What You'll Do

• Underwrite and analyze community development investment opportunities, including LIHTC multi-investor funds, direct NMTC investments, CDFI loan pools, EQ2 investments, SBIC funds, and other mission-driven investments.
• Perform detailed financial, credit, and risk analysis of fund managers, syndicators, developers, sponsors, and underlying assets to assess investment viability and identify key risks.
• Independently prepare comprehensive investment opportunity and credit approval packages that clearly articulate transaction structure, sponsor qualifications, financial performance, investment risks, CRA impact, and recommendation rationale.
• Independently analyze credit and financial information of property and individuals to determine the degree of risk associated with the extension of credit.
• Complete annual reviews, portfolio monitoring reports, risk rating assessments, and covenant compliance analyses for existing investments.
• Oversee documentation and ongoing monitoring of asset and client performance.
• Work with external and internal business partners on the review of partnership agreements, operating agreements, subscription documents, fund documents, legal opinions, and other transaction-related closing documentation
• Review credit approval memorandums and attorney-prepared closing documents for new and renewed investments to ensure compliance and adherence to the approval guidelines.
• Interact with lending and investment staff, deal teams and clients in a welcoming and professional manner.

Qualifications

• Bachelor's degree (Business, Finance, Accounting, or Economics preferred).
• Strong understanding of general credit and risk principles, and banking policies/procedures; formal bank credit training preferred.
• Minimum 3 years of experience in commercial real estate credit, investment underwriting, tax credit finance, or community development finance.
• Working knowledge of Low-Income Housing Tax Credits (LIHTC), New Markets Tax Credits (NMTC), CDFIs, or affordable housing finance.
• Strong analytical and business writing skills
• Strong organizational skills with the ability to manage multiple transactions and portfolio responsibilities simultaneously.
• Good interpersonal skills with internal partners, counsel, clients and senior management.
• Accounting and finance knowledge, as well as knowledge of real estate fundamentals and concepts.

Benefits

Medical Insurance

• Dental
• Vision
• Life insurance
• Accidental death and dismemberment
• Short-term and long-term Disability Insurance
• Parental Leave
• Employee Assistance Program (EAP)
• Traditional and Roth 401(k) with company match
• Flexible Spending Account (FSA)
• Employee Stock Purchase Plan at 5% discount
• Critical Illness Insurance
• Accident Insurance
• Transportation and Commuting Benefits
• Banking Benefits
• Pet Insurance

Compensation

• The estimated salary range for this role is $85,000-$110,000, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate’s qualifications, skills and experience

From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.