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:
Member of the Asset Management Team. Works in a team environment collaborating closely with the 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. The Portfolio will be a combination of Development and Stabilized Investments and will include 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.
Responsibilities:
- Proactively identify, assess, classify, and mitigate asset-level risks across the portfolio
- Monitor performance trends and intervene as needed to protect asset value and investor returns
- Maintain appropriate risk ratings and ensure timely escalation of issues
- Oversee assets through the full lifecycle, with a focus on development, conversion, and stabilization phase
- Monitor construction progress, lease-up performance, and achievement of underwriting targets
- Coordinate with sponsors and internal stakeholders to address delays, cost overruns, or operational issues
- Conduct site inspections in accordance with asset risk classifications
- Prepare detailed semi-annual Watched Asset Reports and present findings in portfolio review meetings
- Maintain accurate, up-to-date asset data in internal systems (e.g., CARMA, EDR) in coordination with WCAAs
- Analyze, structure, and negotiate capital transactions, including, refinancings ,Year 15 dispositions and early exits and recapitalizations
- Prepare stay/leave analyses to inform investor decision-making
- Analyze and negotiate partnership amendments in coordination with legal counsel
- Evaluate and process waiver requests, ensuring alignment with risk and policy considerations
- Partner with General Partners (GPs) and consultants to resolve compliance issues
- Review and analyze K-1s, partnership tax returns, and audited financial statements in accordance with internal policies
- Prepare tax return and audit review checklists for each investment
- Ensure adherence to LIHTC regulatory requirements and benefit schedules
Required Qualifications
- 3+ years of experience in real estate asset management, preferably within LIHTC or affordable housing
- Strong financial analysis skills, including proficiency in real estate modeling and pro forma development
- Solid understanding of Real estate financial statement, Partnership capital accounts, Tax returns, K-1s and audits
- Knowledge of LIHTC program structures and benefit schedules
- Demonstrated ability to identify and resolve compliance issues
- Completion of at least one LIHTC compliance training/course
Desired Qualifications:
- Bachelor’s degree (BA/BS) in Finance, Real Estate, Accounting, or a related field
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
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift:
1st shift (United States of America)
**Hours Per Week: **
40
Pay Transparency details
US - CA - Los Angeles - 333 S HOPE ST - BANK OF AMERICA PLAZA (CA9193), US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), US - MD - Baltimore - 100 International Dr - 100 International (MD9890), US - NJ - Iselin - 194 WOOD AVE S (NJ7550), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100), US - WA - Seattle - 401 Union St - Rainier Square (WA1510)
Pay and benefits information
Pay range
$88,000.00 - $131,000.00 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.