TD Bank Investment Asset Mgr II Maine to Florida in Charlotte, North Carolina
Investment Asset Mgr II Maine to Florida
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 over 9.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us . Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBankUS and www.twitter.com/TDNewsUS .
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 .
We offer a competitive salary and benefit program, including: comprehensive, affordable health care through medical, dental, and vision coverage; financial security with life and disability insurance; opportunities to save using health savings and flexible spending accounts; retirement benefits to help prepare for the future; paid time off and work/life benefits to maintain a good balance.
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The Investment Asset Manager II will be responsible for underwriting, managing, and growing TD Community Development Corporation's (TDCDC) investment and tax credit portfolios. The job will support New Markets Tax Credit (NMTC) investments, Historic Tax Credit (HTC) investments and other qualified investments that align with TD Bank's Community Reinvestment Act (CRA) and Environmental, Social and Governance (ESG) initiatives. Primary responsibilities include: (i) underwriting, structuring, closing, and ongoing management of NMTC, HTC, and other qualified investments; (ii) analyzing TDCDC projects and developing fulsome community and economic development analyses; (iii) working alongside TDCDC Relationship Managers to lead closing process for TDCDC investments, including internal/external coordination with accounting, finance, and tax partners; (iv) overseeing collection of all financial and impact reporting from TDCDC customers and projects; (v) preparing and presenting detailed portfolio management reports, showing credit quality, trends, and key analytics, to TDCDC's Oversight Committee, Board of Directors, and external Advisory Board; (vi) playing a critical role in the research, development and overall submission of TDCDC's annual NMTC Allocation Application; and (vii) prioritizing and completing a multitude of special projects for TDCDC and TD Bank.
United States, US TD Footprint
- Must be eligible for employment under regulatory standards applicable to the position.
Performs tax credit compliance reviews regarding the qualification of units, terms of extended use agreements or other regulatory requirements, minimum set aside tests, rent tests
• Recommends disposition strategies to the TDCDC CRA Investment Oversight Committee; Negotiates the sale, transfer or dissolution of the limited partnership interest with the syndicator, investors, developer and project sponsor to maximize the Bank's return
• Contributes to analyses being prepared by the team leaders relative to the performance and capabilities of current or prospective Fund managers
Ensures Company Investments in new market tax credit and new market credit opportunities and other tax advantaged vehicles are closed and managed in compliance with CRA and IRS investment requirements, according to established Company policies and applicable legal and regulatory guidelines of theOCC and various state and federal agencies
• Develops and maintains productive business relationships with low tax credit syndicators, real estate developers, commercial lenders, non-profit agencies and other referral sources to obtain all required information. Evaluates syndicator performance on an ongoing basis to ensure standards for investment quality and return are maintained
Manages less complex investment portfolio to track investment results, ensure conformity with terms of partnership agreements and adequacy of documentation and identify areas of under-performance or non-compliance
Divests and unwinds investments after required holding periods have expired
Takes appropriate action to correct under-performing investments
Ensures accuracy and maintenance of customer records and files and updates information as needed. Prepares a variety of reports and information summarizing tax credit business for management, community development and tax departments, regulators and others detailing portfolio risk profile, yield and other information
Maintains knowledge of tax credit investment industry practices as well as applicable CRA, IRS and other federal, state and local regulations and guidelines relating to tax credit investments as well as commercial, tax credit and other Company products and services. Shares knowledge with lending, retail, CRA staff and other internal Company personnel so necessary personnel have current information
Construction monitoring including the review of all requisitions, change orders and constructions reserves as well as tracking construction schedules to monitor project delays
Compiles and records essential partnership and property information as required from quarterly status reports and financial statements provided by property management companies, annual financial statements and other reports. Analyzes and comments on the financial performance of an assigned portfolio of properties and investment funds
Prepares additional analyses and commentary on higher risk properties in assigned portfolio, or as requested
Prepares or compiles information for presentation to senior management as required; Carries out database queries as required and complete assigned special projects
Analyzes quarterly and annual financial statements received for properties; Compares actual to budgeted amounts for all income, expense and balance sheet items, including replacement and tax and insurance payments, follow up and comment in the database on significant variances; Compares actual to expected physical and tax credit occupancy figures; Follows-up with general partners and property management agents where financial/operating results fall short of projections; Recommends new operating/marketing strategies where appropriate
Confirm appropriateness of syndicator assigned risk ratings, maintains current watch list and prepares summary of issues for TDCDC Oversight
Committee review; Evaluates each investment's performance relative to an established set of criteria and determine a risk category for each property in the portfolio
Evaluates properties’ adherence to the Bank’s investment yield objectives; Follows-up on expected cash distributions from properties when appropriate
Coordinates scheduling of property inspections; Reviews property inspection reports and complete inspection procedures according to CRA Investment Policy Schedules and performs annual site visit and/or partner reviews; Follows-up with property managers/general partners regarding property performance and scheduled property maintenance
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.
Connecticut, District of Columbia, Delaware, Florida, Georgia, Massachusetts, Maryland, Maine, North Carolina, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, South Carolina, Virginia, Vermont, TD Footprint
Atlanta, Baltimore City, Boston, Burlington, Charlotte, Cherry Hill, Concord, Fairfield, Greenville, Miami, Mount Laurel, New York, Philadelphia, Portland, Providence, TD Footprint, Vienna, Washington, Wilmington
Bachelor’s degree in Accounting, Finance, Real Estate or a general degree with comparable experience in investment real estate, accounting or finance
A minimum of three years of experience in multi-family asset, property management, and/or real estate investment analysis
Familiarity with the Tax Credit program and affordable housing is desirable
Proficiency in MS Windows network environment, to include MS Excel, MS Word, and MS Access
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 CRA, 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
Knowledge of commercial real estate lending practices
Strong credit and financial analysis skills
Experience building strong business relationships both internally and externally
Successful negotiation experience
Excellent overall communications skills, with ability to work with a wide range of people
4140 Church Road
TD Bank AMCB
Job Category - Primary:
Corporate & Specialty Banking
Job Searches Match:
District of Columbia
$66,560 - $109,720 annually
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