Community Development (CD) Fund Manager

The Community Development (CD) Fund Manager is responsible for managing a portfolio of tax advantaged investments, primarily Low-Income Housing Tax Credits (LIHTC), ensuring that fund investment and portfolio performance remains consistent with original underwriting and asset quality remains strong. As necessary, Fund Manager will surface issues and collaborate with others on strategies and actions to limit risk and loss to the Bank. Role requires strong relationships with Corporate Tax and Accounting colleagues. Citizens execute fund investments on an indirect basis so strong working relationships and collaboration with external, syndicator partners are required.Portfolio may include other Public Welfare Investments which are non-Tax Advantaged. Fund Manager may also assist in underwriting new Public Welfare investments as needed.The CD Fund Manager is responsible for assisting in the closing, initial booking, funding, and the subsequent oversight and monitoring of performance and risk profile of the assigned portfolio. Additional responsibilities include completion of periodic assessments of fund investment, sponsors and syndicators through annual reviews and quarterly watch list reporting. Duties to include:Facilitating closing and booking of new investments, confirming wire instructions, closing benefit schedules (IRR) and validation of syndicators benefits schedule.Review of quarterly fund financial reporting, including updated benefit schedules, lower tier asset performance; updating internal proprietary tools to compare actual to closing fund performance, assembling and review for approval capital call requests.Prepare and present commentary on a quarterly basis for any underperforming properties or Funds in assigned portfolio.Review and evaluate consent requests regarding fund investments, creating internal approval and supporting documentation as appropriate.Annual review of sponsor (syndicator) and fund investment financials to provide assessment of sponsor capacity to oversee fifteen-year compliance period satisfactorily.Qualifications:3-4 years of experience and exhibited competency in tax advantaged real estate investments: LIHTC, NMTC, HTC. Bachelor’s degree in business related field, accounting or finance or equivalent work experienceUnderstanding of Community Reinvestment Act and Public Welfare Investments is beneficialCommercial Real Estate experience – debt or equity analyst or in private development – is preferred Displays ability to critically review, analyze, synthesize, compare and interpret information; draws conclusions from relevant and/or missing information and determines the follow-up needed to address issues for the credits contained within the portfolio to ensure continued compliance with credit and risk policies and practicesAbility to engage successfully with colleagues across lines of business including Corporate Tax, Accounting and RiskExcellent oral and written communication skills in describing fund investments profiles and attributesFlexibility and adaptability to changeStrong ability with numbers and calculations Manages compliance and control routines related to the investments contained in the assigned portfolioAbility for some travel is requiredTo thrive as a colleague at Citizens, candidates must demonstrate a strong customer-centric mindset, exhibit persistence and resilience in the face of challenges, and embrace continuous learning to adapt and grow in a dynamic environment.Hours and Work Schedule: (4 days in office, 1 day remote)Hours per Week: 40Work Schedule: Monday-FridayWork Location: Boston, MAPay TransparencyThe salary range for this position is $108,000-$134,000 per year, plus an opportunity to earn an annual discretionary bonus. Actual pay is based on various factors including but not limited to the budget, work location, and relevant skills and experience.We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens’ paid time off policy exceeds the mandatory, paid sick or paid time-away policy of every local and state jurisdiction in the United States. For an overview of our benefits, visit .Work Authorization: This role is not eligible for new employer sponsored or current H-1 B visa holders. Applicants, including current OPT, L and other visa holders, must be authorized to work in the U.S. without the need for new employer sponsorship for themselves or their spouses now and in the future.Equal Employment OpportunityCitizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.Equal Employment and Opportunity EmployerJob Applicant Data Privacy PolicyBackground CheckAny offer of employment is conditioned upon the candidate successfully passing a background check, which may include initial credit, motor vehicle record, public record, prior employment verification, and criminal background checks. Results of the background check are individually reviewed based upon legal requirements imposed by our regulators and with consideration of the nature and gravity of the background history and the job offered. Any offer of employment will include further information.Full timePosting Date: 2026-10-07