Development Manager Commercial Real EstateCommunity Development Banking

Charlotte, VT - USA

Monthly Salary: Not Disclosed

Posted on: 11 hours ago

Vacancies: 1 Vacancy

Job Summary

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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace attracting and developing exceptional talent supporting our teammates physical emotional and financial wellness recognizing and rewarding performance and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America you can build a successful career with opportunities to learn grow and make an impact. Join us!

Bank of America Community Development Company (BACDC) is seeking a Development Manager to support its Real Estate Development (RED) and Real Estate Investment (REI) teams. BACDC is part of the Community Development Bank (CDB) and is committed to developing and investing in communities by providing equity into moderate-income workforce housing properties and development expertise with our external partners for the development of affordable and mixed-income multifamily housing. The Development Manager will be based in one of our established offices responsible for working with BACDCs teams across the country. Job expectations include assisting teams to drive responsible growth through risk management portfolio review and analytical support. The Candidate must have prior commercial real estate real estate lending or real estate / real estate loan monitoring experience.

Responsibilities:

Perform monitoring routines for the line of business and coordinates portfolio information with Enterprise Credit for recognized investments.
Support the collection and analysis of financial statements market and industry data to assess the performance of investments and provide financial projections and investment expectations.
Work with Real Estate Investment Development Managers to assess refinance and recapitalization alternatives for existing investments as the investments progress through their life cycle.
Support the coordination of new investment and development approvals throughout the course of a transaction.
Work with Real Estate Development Managers on new development financings applications and participate in construction monitoring and OAC meetings.

Qualifications:

Minimum 3 years of previous business experience with prior experience in a real estate role.
Undergraduate degree in related field or equivalent work experience
Experience with Operating Agreements and other legal agreements
Familiarity with GAAP accounting concepts as they relate to real estate.
Adept at reviewing and interpreting detailed Excel spreadsheets and models
Exceptionally strong organizationalskills.

Required Skills:

Must demonstrate initiative and be self-motivated. The role will maintain some programmatically scheduled routines (20%). The candidate is expected to initiate and follow-up on these routines and escalate exceptions as needed.
Display intellectual curiosity and eagerness to identifying alternatives and results.
Possess strong analytical and financial modeling skills.

Desired Qualifications:

Experience with multi-family real estate financial reporting.
Knowledge of corporate income tax reporting including K-1 reporting.
Understanding of fundamentals of commercial real estate development and construction.

Shift:

1st shift (United States of America)

Hours Per Week:

Required Experience:

Manager

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 is core...