Credit Risk Manager - CREB Community Development Banking

Bank of America•Los Angeles, CA

9d•Onsite

About The Position

This job is responsible for overall portfolio or product set performance and asset quality and may include credit approval authority. Key responsibilities include focusing on but not limited to credit, market, and reputational risk; as well as adherence to credit risk policies and external/internal reporting, including but not limited to Top of House (TOH) and Line of Business (LOB) specific reports or regulatory related reporting. Job expectations include having detailed knowledge of regulatory issues and providing expertise on highly complex transactions to business/support partners. Position requires knowledge and experience with an affordable housing loan portfolio and tax credit investment product set, especially Low Income Housing Tax Credit investments. Position provides credit policy and portfolio management guidance to business partners. Responsible for West Region CDB portfolio and that region's production offices. Mandatory components of the position are applying Credit Risk Policy, overseeing portfolio reviews, forecasting regional asset quality performance, studying industry practices, and working with Credit Officer and Underwriter teammates from deal screening through credit approval, legal documentation and closing. Position will also focus on quick resolution of any problem loans/equity investments should issues arise. Position will have joint credit approval authority, provide expertise on complex transactions having both debt and equity investment exposures, and ensure all approvals and decisions are consistent with the Bank’s Risk Framework. Position works directly with the business managers, product and marketing managers, legal, corporate finance, regulatory and executive risk management while managing risks for a multi-state territory. Role provides guidance and mentoring to junior associates and will have input for policy content when updating and reviewing policies applicable to Community Development Banking debt and equity products. Position requires a bias for action and a commitment to achieving sustainable results. Role may require occasional travel for direct client contact or project and market inspections

Requirements

10+ years of related experience within a financial institution or at least 5+ years of direct experience with federal tax credit investments
Must have superior communication and credit skills
Knowledge of the primary functions of Community Development Banking teams at Bank of America
Credit analysis and underwriting experience for multifamily housing, including financial accounting principles, loan structuring, and experience with interest rate protection products.
Technical knowledge and skills pertinent to federal and state tax credit equity investments (especially Low Income Housing Tax Credits and Historic Tax Credits), or prior experience in a risk management role.
Requires close working relationships with various business partners.
Credit and Risk Assessment
Critical Thinking
Risk Analytics
Risk Management
Strategic Thinking
Decision Making
Interpret Relevant Laws, Rules, and Regulations
Issue Management
Portfolio Analysis
Regulatory Compliance
Business Intelligence
Financial Accounting
Inclusive Leadership
Influence
Presentation Skills

Nice To Haves

experience with an affordable housing loan portfolio and tax credit investment product set, especially Low Income Housing Tax Credit investments

Responsibilities

Sets or oversees the ongoing management of risk parameters and guardrails for credit risk while ensuring adherence to risk appetite/limits, and actively inspects and/or designs risk scenarios to implement decisions
Supports or oversees the credit approval process and therefore is accountable for overall portfolio performance and asset quality, including underwriting, structuring and monitoring tasks
Conducts analysis, inspects and/or develops credit risk reporting for specific products, and monitors and reports on key indicators for changes in credit quality to communicate to senior management
Sets or oversees adherence to policy and standards and ensures first line credit officers and managers are appropriately performing due diligence that the risk is within the bank's defined risk appetite, using knowledge of stress testing and its applicability to credit risk
Monitors for adherence to industry risk governance, as well as monitoring for potential operational, reputational and market risk issues
Identifies risks early that could impact the assigned portfolio and coordinates with business counterparts to resolve portfolio issues
Translates and manages plans of action to achieve a goal across varying audiences
Applying Credit Risk Policy, overseeing portfolio reviews, forecasting regional asset quality performance, studying industry practices, and working with Credit Officer and Underwriter teammates from deal screening through credit approval, legal documentation and closing.
Quick resolution of any problem loans/equity investments should issues arise.
Provide expertise on complex transactions having both debt and equity investment exposures, and ensure all approvals and decisions are consistent with the Bank’s Risk Framework.
Works directly with the business managers, product and marketing managers, legal, corporate finance, regulatory and executive risk management while managing risks for a multi-state territory.
Provides guidance and mentoring to junior associates and will have input for policy content when updating and reviewing policies applicable to Community Development Banking debt and equity products.