Tax Credit Portfolio & Operations Manager

Old National Bank • Chicago, IL

8d

About The Position

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving. We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization. We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values. This position has primary management of Old National Bank’s tax credit investment portfolio and operational responsibilities over Old National CDE Corporation and equity investments, including New Markets Tax Credits (NMTC), Low Income Housing Tax Credits (LIHTC), Historic Tax Credits (HTC) and Renewable Energy Tax Credits from closing through the compliance period and exit.

Requirements

• Bachelor’s Degree in Accounting, Finance, Economics or Management and/or H.S. Diploma/GED with equivalent work experience.
• 10+ years of relevant commercial banking or tax credit industry experience with a minimum of 3+ years of progressive leadership experience required.
• Proven leadership skills, with the ability to develop and mentor others.
• Understanding of legal and financial documents related to tax credit programs.
• Outstanding analytical and organizational skills with a high degree of intellectual curiosity
• Excellent written and oral communication and presentation skills.
• High level of emotional intelligence.

Nice To Haves

• CPA, JD, or Master’s degree with emphasis in accounting or finance preferred.

Responsibilities

• Oversee the management of the tax credit asset management team and investment fund portfolio that include multiple investments and/or partnership relationships in closed tax credit financing; and the financial and compliance reporting of Old National CDE, including:
• Provide oversight, coaching and guidance to the asset management team as they develop procedures and monitor portfolio risk.
• Provide strategic guidance to the Head of Tax Credits on asset management, investment fund operations, investor relations, and reporting.
• Maintain responsibility and direction for asset management activities including portfolio composition, construction management, tax credit compliance, and coaching team members to ensure focus on product type and risk mitigation.
• Directly engage with clients, potential clients, and referral sources, as necessary, to drive portfolio stability and cultivate relationships.
• Maintain responsibility for the implementation and oversight of a comprehensive risk management framework, including software, standardized policies, processes and procedures for tax credits that have a significant impact on the organization.
• Assist in the preparation of the CDE’s NMTC Application for tax credit allocation
• Stay informed about industry best practices, market developments, and regulatory requirements related to tax credits.
• Increase the tax credit group’s community and industry engagement
• Coordinate with the bank’s CRA team for community outreach and coordination of alternative investments that support the bank’s assessment areas.
• Provide insight and guidance on tax credit products including alternative investments and tax credit lending
• Coordinates and regularly communicates with organizations team on closings and other portfolio movements
• Lead special projects as needed, working in cross-functional teams throughout the bank.
• Adhere to and develop policies, procedures, and regulatory compliance requirements and perform other related duties and projects as assigned.
• Travel required episodically.

Benefits

• competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance
• 401K, continuing education opportunities and an employee assistance program

What This Job Offers

• Job Type: Full-time
• Career Level: Manager