Development Manager - Community Development Banking

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. 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!

Banc of America Community Development Company (BACDC) is seeking a Development Manager to support our Real Estate Investment and Real Estate Development teams. BACDC is part of the Community Development Bank (CDB) and is committed to developing and investing in communities by providing equity in moderate-income workforce housing, and development expertise with our partner developers of affordable and middle-income housing. In 2023, CDB delivered $7.1 billion in debt financing and equity investments to help build vibrant, sustainable communities through affordable housing and economic development across the country.

This position will support our Investment and Development teams to deliver the financial services and consultative advice that Bank of America delivers. This Development Manager role will also act as a liaison with various internal business partners and assist in the day-to-day operational support of the business to ensure organizational integrity within the business. *Position will be based in Charlotte, NC.

Portfolio Analytics and Assessment

• Review performance and tracking trends within the portfolio
• Monitoring of transaction activity and reconciliation of returns
• Preform quarterly and annual impairment testing

Coordination with Internal Partners  

• Maintain and update revenue forecasting in collaboration with Finance Business Support
• Coordinate completion of Finance Investment Analysis models with transaction assumptions
• Perform annual Income / Loss reconciliations
• Monitor investment capacity and limits
• Regulatory & Financial Reporting

Operational Support:

• Quarterly portfolio reporting
• Coordination of closing documentation and transaction funding
• Preparation of materials for internal presentations
• Assist on special projects, including new investment considerations.

Candidate must have prior Commercial Real Estate experience; knowledge of affordable housing finance, LIHTC investment or similar experience a plus. Proven organizational skills and ability to execute tasks and projects independently Proficiency with Microsoft programs including Word, Excel, PowerPoint, SharePoint and Outlook; advanced Excel skills a plus and Tableau reporting knowledge preferred

Qualifications:

Minimum 5 years' experience working within Commercial Real Estate, Finance, Accounting or related fields. 

Undergraduate degree in related field or equivalent work experience.

Excellent communication and presentation skills.

Shift:

Hours Per Week: