Senior Asset Manager/Asset Manager-Community Development Banking

Bank of America; Chicago (IL); On-site; USD 88,000 - 163,000; Full time

Job summary

A leading financial institution seeks a Senior Asset Manager to oversee a Low Income Housing Tax Credit portfolio. Responsibilities include risk assessment, compliance, and managing capital transactions. Candidates should have significant experience in affordable housing and asset management, along with strong negotiation and analytical skills.

Qualifications

• 5+ years of Affordable housing experience with an emphasis on Asset Management.
• Strong understanding of Audits and Tax Returns.
• Strong understanding of Capital Accounts.

Responsibilities

• Identifying, classifying, quantifying, and mitigating Risk.
• Monitor the Development Phase of the Asset through Conversion and Stabilization.
• Review and Analyze Quarterly Financials, Tax Returns and Audits.

Skills

Customer and Client Focus

Analytical Thinking

Attention to Detail

Strong Communication

Strong Negotiation Skills

Decision Making

Financial Analysis

Portfolio Management

Collaboration

Presentation Skills

Job description

Senior Asset Manager/Asset Manager-Community Development Banking

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

Senior member of Asset Management Team. Works in a team environment collaborating closely with senior deal team members during the closing of equity Investment opportunities. Will maintain a continuing role in the Asset Management and performance monitoring of all active Investments.

Responsible for the oversight and management of a Direct LIHTC (Low Income Housing Tax Credit) Portfolio with approximately 70 assets. The Portfolio will be a combination of Development and Stabilized Investments. Analyzing and negotiating all Capital Transactions such as Refinancing and Year 15 Dispositions. Analyze, negotiate and work with Counsel on Partnership Amendments. Collaborate with General Partners/Consultants on Compliance issues.

Job Responsibilities:

• Identifying, classifying, quantifying, and mitigating Risk
• Monitor the Development Phase of the Asset through Conversion and Stabilization
• Reprojection of Tax Credits
• Review all General Partner requests with a focus on action plans
• Preparation of Stay/Leave Analysis for Disposition
• Review and Analyze Quarterly Financials, Tax Returns and Audits
• Conduct Site Visits according to Risk classification
• Prepare semi-annual Watched Asset Reports and present during Watched Asset Meetings

Required Qualifications:

• 5+ years of Affordable housing experience with an emphasis on Asset Management
• Strong understanding of Audits and Tax Returns
• Strong understanding of Capital Accounts
• Strong communication and interpersonal skills
• Ability to identify and find resolution to Compliance issues

Skills:

· Customer and Client Focus

· Prioritization

· Written Communications

· Analytical Thinking

· Attention to Detail

Shift:

1st shift (United States of America)

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

Senior member of Asset Management Team. Works in a team environment collaborating closely with senior deal team members during the closing of equity Investment opportunities. Will maintain a continuing role in the Asset Management and performance monitoring of all active Investments.

Responsible for the oversight and management of a Direct LIHTC (Low Income Housing Tax Credit) Portfolio with approximately 70 assets. The Portfolio will be a combination of Development and Stabilized Investments. Analyzing and negotiating all Capital Transactions such as Refinancing and Year 15 Dispositions. Analyze, negotiate and work with Counsel on Partnership Amendments. Collaborate with General Partners/Consultants on Compliance issues.

Job Responsibilities:

• Identifying, classifying, quantifying, and mitigating Risk
• Monitor the Development Phase of the Asset through Conversion and Stabilization
• Reprojection of Tax Credits
• Review all General Partner requests with a focus on action plans
• Preparation of Stay/Leave Analysis for Disposition
• Review and Analyze Quarterly Financials, Tax Returns and Audits
• Conduct Site Visits according to Risk classification
• Prepare semi-annual Watched Asset Reports and present during Watched Asset Meetings

Required Qualifications:

• 5+ years of Affordable housing experience with an emphasis on Asset Management
• Strong understanding of Audits and Tax Returns
• Strong understanding of Capital Accounts
• Strong negotiation skills
• Strong communication and interpersonal skills
• Ability to identify and find resolution to Compliance issues

Skills:

· Customer and Client Focus

· Financial Analysis

· Prioritization

· Written Communications

· Analytical Thinking

· Attention to Detail

· Decision Making

· Portfolio Management

· Collaboration

· Presentation Skills

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - DC - Washington - 1800 K St NW - 1800 K Street NW (DC1842), US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and benefits informationPay range$88,200.00 - $162,500.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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 the company

Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

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