Credit Risk Manager - CREB Community Development Banking

About the role

This role is responsible for overall portfolio or product set performance and asset quality, including credit approval authority. Key responsibilities focus on credit, market, and reputational risk, as well as adherence to credit risk policies and external/internal reporting, such as Top of House (TOH) and Line of Business (LOB) specific reports or regulatory-related reporting. The position requires detailed knowledge of regulatory issues and expertise in highly complex transactions for business and support partners.

This role provides credit policy and portfolio management guidance, specifically for the West Region CDB portfolio and production offices. It involves applying Credit Risk Policy, overseeing portfolio reviews, forecasting regional asset quality performance, studying industry practices, and collaborating with Credit Officer and Underwriter teammates from deal screening through credit approval, legal documentation, and closing. The position also focuses on resolving problem loans or equity investments and has joint credit approval authority for complex transactions involving both debt and equity investment exposures. The role ensures all approvals align with the Bank’s Risk Framework and works directly with business managers, product and marketing managers, legal, corporate finance, regulatory, and executive risk management while managing risks for a multi-state territory.

This position mentors junior associates and contributes to policy updates for Community Development Banking debt and equity products. It requires a bias for action and a commitment to achieving sustainable results. Occasional travel may be required for direct client contact or project and market inspections.

Responsibilities

• Set or oversee the ongoing management of risk parameters and guardrails for credit risk, ensuring adherence to risk appetite and limits.
• Actively inspect and/or design risk scenarios to implement decisions.
• Support or oversee the credit approval process, including underwriting, structuring, and monitoring tasks, to ensure overall portfolio performance and asset quality.
• Conduct analysis, inspect, and/or develop credit risk reporting for specific products, and monitor and report on key indicators for changes in credit quality to senior management.
• Ensure adherence to policy and standards, and verify that first-line credit officers and managers perform due diligence within the bank’s defined risk appetite, using knowledge of stress testing and its applicability to credit risk.
• Monitor adherence to industry risk governance and identify potential operational, reputational, and market risk issues.
• Identify risks early that could impact the assigned portfolio and coordinate with business counterparts to resolve portfolio issues.
• Translate and manage plans of action to achieve goals across varying audiences.
• Apply Credit Risk Policy, oversee portfolio reviews, forecast regional asset quality performance, and study industry practices.
• Work with Credit Officer and Underwriter teammates from deal screening through credit approval, legal documentation, and closing.
• Focus on quick resolution of problem loans or equity investments.
• Provide expertise on complex transactions involving both debt and equity investment exposures, ensuring consistency with the Bank’s Risk Framework.
• Collaborate with business managers, product and marketing managers, legal, corporate finance, regulatory, and executive risk management for a multi-state territory.
• Provide guidance and mentoring to junior associates and contribute to policy updates for Community Development Banking debt and equity products.

Requirements

• 10+ years of related experience within a financial institution or at least 5+ years of direct experience with federal tax credit investments.
• 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.
• Close working relationships with various business partners.
• Experience with an affordable housing loan portfolio and tax credit investment product set, particularly Low Income Housing Tax Credit investments.

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

Schedule

1st shift (United States of America), 40 hours per week.