Investment Specialist II - CDF

First Citizens Bank • Boston, MA

8h • Hybrid

About The Position

FCB invests in a variety of Community Development investment funds through several external syndicators for Community Reinvestment Act (CRA) and Community Benefits Plan (CBP) purposes. This position supports the origination, underwriting, and closing of New Market Tax Credit (NMTC), Low Income Housing Tax Credit (LIHTC), Small Business Investment Company (SBIC) and other community development fund investments. This is a hybrid role to be based in Raleigh, NC, Chicago, IL, San Francisco, CA, or Boston, MA with the expectation that work time will regularly take place inside and outside of a company office.

Requirements

• Bachelor's Degree and 3 years of experience in LIHTC, SBIC, or NMTC Equity Investment Underwriting and Closing
• OR High School Diploma or GED and 7 years of experience in LIHTC, SBIC, or NMTC Equity Investment Underwriting and Closing

Nice To Haves

• Finance
• Banking
• New Markets Tax Credit structuring
• Public Policy/Planning
• Accounting

Responsibilities

• Supports the origination, underwriting, internal credit and other (CRA, Tax, Treasury) approvals and closings for community development investments with multiple fund managers, including coordination with counsel on legal review of fund documents, and tracking investment status on the equity pipeline.
• Underwrites and closes other CRA eligible investment products to support First Citizens’ regulatory need.
• Works with portfolio management team to update annual reviews of syndicator partners as part of credit approval process.
• Assists with the transfer of closed assets into the portfolio.
• Provides meaningful input on New Market Tax Credit procedures and best practices.
• Assists in the development of originations and portfolio management strategies for the product line.
• Participates in meetings, trainings (inclusive of Bank required compliance courses), and other duties or special projects as assigned by senior leadership and management team.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees