Senior Asset Manager-LIHTC

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:Responsible for the oversight and management of a Direct Low Income Housing Tax Credit Portfolio up to approximately 60-70 Assets. The Portfolio will be a combination of Development and Stabilized Assets.Responsibilities include:Identifying, classifying, quantifying and mitigating riskMonitor the Development Phase of the Asset through Conversion and StabilizationConduct site visits according to risk classificationPrepare semi-annual Watched Asset Reports and present during Watched Asset MeetingsAnalyze and negotiate all Capital Transactions such as Refinancing and Year 15 or Early ExitsAnalyze, negotiate and work with Counsel on Partnership AmendmentsAnalyze and negotiate waivers, as neededWork with General Partners (and consultant, if needed) on any Compliance issuesReview and analyze K-1s, Tax Returns and Audits, as per policy and proceduresPrepare Tax Return and Audit Checklists for each InvestmentPrepare stay/leave analysis, as necessaryWork with WCAAs to maintain accurate data in CARMA and EDRMaintain strong relationships with GP clients and deliver first-class serviceWork cross-divisionally with internal partners, as appropriateRequired Skills:Minimum 7 years Asset Management experience with at least 5 years in LIHTC IndustryStrong understanding of real estate spread sheets, Audits and Tax ReturnsAbility to prepare meaningful proformasStrong understanding of Capital AccountsStrong negotiation skillsStrong communication and inter-personal skillsStrong understanding of LIHTC benefit schedulesAbility to identify and find resolution to Compliance issuesCompleted at least 1 LIHTC compliance courseAbility to work as a Team playerDesired Skills:BA / BSExperience in negotiating end of life of AssetsExperience in workoutsExperience with HTC and State CreditsSkills:Business AcumenLoan StructuringProduct ManagementRisk ManagementCoachingConsultingDecision MakingInfluenceResult OrientationCredit Documentation RequirementsPortfolio AnalysisRegulatory ComplianceStakeholder ManagementUnderwritingShift:1st shift (United States of America)Hours Per Week: 40Pay Transparency detailsUS - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100)Pay and benefits informationPay range$137,000.00 - $162,500.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.SummaryLocation: Atlanta; BostonType: Full time