Development Manager - Commercial Real Estate/Community Development Banking

Bank of America • Chicago, IL

92d

About The Position

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! Bank of America Community Development Company (BACDC) is seeking a Development Manager to support its Real Estate Development (RED) and Real Estate Investment (REI) teams. BACDC is part of the Community Development Bank (CDB) and is committed to developing and investing in communities by providing equity into moderate-income workforce housing properties, and development expertise with our external partners for the development of affordable and mixed-income multifamily housing. The Development Manager will be based in one of our established offices, responsible for working with BACDC’s teams across the country. Job expectations include assisting teams to drive responsible growth through risk management, portfolio review and analytical support.

Requirements

• Minimum 3 years of previous business experience with prior experience in a real estate role.
• Undergraduate degree in related field or equivalent work experience.
• Experience with Operating Agreements and other legal agreements.
• Familiarity with GAAP accounting concepts as they relate to real estate.
• Adept at reviewing and interpreting detailed Excel spreadsheets and models.
• Exceptionally strong organizational skills.

Nice To Haves

• Experience with multi-family real estate financial reporting.
• Knowledge of corporate income tax reporting including K-1 reporting.
• Understanding of fundamentals of commercial real estate development and construction.

Responsibilities

• Perform monitoring routines for the line of business and coordinates portfolio information with Enterprise Credit for recognized investments.
• Support the collection and analysis of financial statements, market and industry data to assess the performance of investments and provide financial projections and investment expectations.
• Work with Real Estate Investment Development Managers to assess refinance and recapitalization alternatives for existing investments as the investments progress through their life cycle.
• Support the coordination of new investment and development approvals throughout the course of a transaction.
• Work with Real Estate Development Managers on new development financings, applications and participate in construction monitoring and OAC meetings.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Bachelor's degree