Credit Risk Manager - CREB Community Development Banking

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: 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. 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 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 Required Qualifications: 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. Skills: 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 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 - CA - San Francisco - 555 California St - Bofa Center - 555 California (CA5705) Pay and benefits information Pay range $137,000.00 - $197,000.00 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. Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity. Getting started Regardless of the position you are interested in, the starting points to building your resume are the same: 1. Determine the job or types of jobs you want to do and research their responsibilities and qualifications. 2. Think about why you can do the job and make a list of your skills that are relative to the job. 3. Identify experiences or accomplishments that show your proficiency in the skills required for the job. 4. Summarize your abilities, accomplishments and skills into a brief, concise document. Considerations when writing a resume • Do be brief. Resumes should be 1-2 pages in length. • Do be upbeat and active in your wording. • Do emphasize what you have done clearly and concretely. • Do be neat and well organized. • Do have others proofread and critique your resume. Spell check. Make it error free. • Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible. • Don't be dishonest, always tell the truth about yourself in the most flattering light. • Don't include salary history or requirements. • Don't include references. • Don't include accomplishments that do not support your professional goals. • Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.) • Don't use italics, underlining, shadows or other fancy treatments. Seven steps to a successful interview 1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview? 2. Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available? 3. Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight. 4. Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down. 5. Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks. 6. Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease. 7. Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage. Pay Transparency - Privacy Statement -