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 to support business and operational partners.
This role provides credit policy and portfolio management guidance for the West Region Community Development Banking (CDB) portfolio, including production offices. It involves applying Credit Risk Policy, overseeing portfolio reviews, forecasting regional asset quality performance, studying industry practices, and collaborating with Credit Officers and Underwriters from deal screening through credit approval, legal documentation, and closing. The role also focuses on resolving problem loans or equity investments and ensuring decisions align with the Bank’s Risk Framework.
You will work directly with business managers, product and marketing managers, legal, corporate finance, regulatory, and executive risk management while managing risks for a multi-state territory. The role includes mentoring junior associates and contributing to policy updates for Community Development Banking debt and equity products. Occasional travel may be required for 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 design risk scenarios to implement decisions.
- Support or oversee the credit approval process, including underwriting, structuring, and monitoring tasks, to ensure portfolio performance and asset quality.
- Conduct analysis and develop credit risk reporting for specific products, monitoring key indicators for changes in credit quality and communicating findings to senior management.
- Ensure adherence to policy and standards, verifying that first-line credit officers perform due diligence within the bank’s defined risk appetite, using knowledge of stress testing.
- 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 issues.
- Translate and manage action plans to achieve goals across varying audiences.
- Provide expertise on complex transactions involving both debt and equity investment exposures, ensuring consistency with the Bank’s Risk Framework.
- Oversee quick resolution of problem loans or equity investments.
- 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 (LIHTC) and Historic Tax Credits, or prior experience in a risk management role.
- Close working relationships with various business partners.
- Bias for action and commitment to achieving sustainable results.
Skills
- Credit and Risk Assessment
- Critical Thinking
- Risk Analytics
- Risk Management
- Strategic Thinking
- Decision Making
- Interpretation of 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.