About this opportunity
Bank of America lists this Senior Asset Manager-LIHTC opportunity in atlanta, Georgia. Review the employer’s description below for duties, qualifications and application requirements.
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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
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
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 LIFTC 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
Additional 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.
Privacy Statement:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Partnering Locally
Learn about some of the ways Bank of America is making a difference in the communities we serve.
Global Impact
Learn about the six areas that guide Bank of America's efforts to help make financial lives better for customers, clients, communities and our teammates.
Opportunity and Inclusion
Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success.
Our Values
Learn about our four values that represent what we believe.
Pay Transparency:
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Worksite address
atlanta, GA, 30383, US
Who can apply
Review the original listing for work authorization, qualifications and employer requirements.