TD Bank Sr CRA Investment Asset Manager - Community Capital Group in Boston, Massachusetts
Sr CRA Investment Asset Manager - Community Capital Group
About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US .
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com .
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The Community Capital Group, within Commercial Real, is responsible for the management and supervision of the Community Reinvestment Act (“CRA”) investment functions for TD Bank US Holding Company including TD Bank, N.A. and TD Bank, USA. In carrying out its duties, the Community Capital Group strives to make CRA qualified investments that create positive long-term impact in revitalizing communities and neighborhoods in market areas served by the Bank while at the same time providing a competitive return. These duties include originating, underwriting, closing, managing and ultimately divesting of various investment products including Loan Funds, Low Income Housing, Historic, State and New Market Tax Credits on behalf of the Bank, or its subsidiaries.
• Oversees and manages closed Bank investments in low income housing, historic and new market tax credit opportunities and other tax advantaged vehicles as well as venture capital funds and small business investment companies to ensure compliance with the investment guidelines and requirements of the Bank, the Community Reinvestment Act, Internal Revenue Service (IRS) and Office of the Comptroller of the Currency (OCC) guidelines.
• Orchestrates the annual quarterly benefit schedule project and interfaces with Finance to resolve issues
• Interfaces with Tax to resolve all issues related to variances between the tax provision and actual tax returns
• Interfaces with Finance to resolve all issues related to valuation and annual audit reports
• Performs supervisory reviews/signoffs of audit reports, tax returns and annual investment reviews
• Serves as the CRA software application (Fusion) super-user/administrator
• Oversees the capital call release, adjuster and JE approval process
• Properly assesses and inputs data to CCG reporting systems
• Produces routine system reports to monitor and report progress, performance and compliance to CCG and Bank management of exception issues
• Provides administrative support to the CCG manager and Investment Officers for all properties within the Banks investment portfolio
• Coordinates with other staff to create and maintain asset management files and records.
• Coordinates effective communication among and maintains positive working relationships with Bank departments, Syndicators, General Partners, Property Managers, Investors and Regulators
• Keeps up to date with tax credit investment market and regulations
• Ensures regulatory and contractual compliance of operating properties in which the Bank holds an ownership interest as Limited Partner
• Conducts equity partner's role in decision-making and implementation which impact real estate performance and delivery of tax credits
• Coordinates effective transition of property investments after acquisition and development: oversees construction, lease-up and operations
• Provides all analysis and performance reporting of operating properties
• Understands financial impact of operating partnership results on syndicated fund performance
• Provides reports on property holdings
• Creates and maintains information systems necessary to efficient analysis and reporting, including database and spreadsheet tools
• Identifies and assesses potential and actual problems which may impair investor return
• Oversees the workout of operating partnerships, if necessary
- Must be eligible for employment under regulatory standards applicable to the position.
Mon - Fri
The Senior CRA Investment Asset Manager optimizes performance of a growing equity portfolio. The Sr. CRA AM mitigates risk factors, ensures expected yields are achieved, and works within banking and tax credit industry standards. The role requires independent oversight and management of closed CRA investments in housing (federal and state) credits, historic, new market tax credit, loan funds, and other CRA qualified investments. The Sr. CRA AM ensures compliance with the Bank's CRA investment policies and Asset Management procedures, state and Internal Revenue Service (IRS) codes and the Office of the Comptroller of the Currency (OCC) guidelines.
At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live in and serve, and creating an environment where every employee has the opportunity to reach their potential.
If you are a candidate with a disability and need an accommodation to complete the application process, email the TD Bank US Workplace Accommodations Program at USWAPTDO@td.com . Include your full name, best way to reach you, and the accommodation needed to assist you with the application process.
EOE/Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity.
Maine, Massachusetts, New Jersey, New York, Pennsylvania
Boston, New York City, Philadelphia, Portland, Ramsey
• Bachelors Degree or equivalent experience
• 5+ Years of related experience
• Operations exposure, such as creation and revision of systems, policies, procedures. Established relationships with broad network of affordable housing industry contacts.
• Proficiency in MS Windows network environment, to include MS Excel, MS Word, and MS Access.
• Proven ability to analyze financial statements, legal documents partnership agreements, and discounted cash flow analyses.
• Strong knowledge of tax credit investment programs and related state and federal regulations, including Community Reinvestment Act (CRA), Internal Revenue Service (IRS), Low Income Housing Tax Credit (LIHTC), New Market Tax Credit (NMTC) and Historic Tax Credit (HTC) and other regulations.
• Strong understanding of commercial business development techniques and credit decisions.
• Highly experienced in managing direct, single investor and multi-investor funds for a national or regional syndicator and/or financial institution
• Ability to manage routine to complex fund management issues from closing/construction through disposition
• Demonstrated relationship management experience
*This position has the potential to remain virtual for the right talent
1 Portland Square, 1100 Lake Street, 125 Park Avenue Corporate, 200 State Street Corporate, 2005 Market Street
TD Bank AMCB
Job Category - Primary:
Commercial Banking, Community & Environment, Operations & Underwriting
New York City
Corporate & Specialty Banking
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