Company: City National Bank
Location: Los Angeles, CA
Career Level: Mid-Senior Level
Industries: Banking, Insurance, Financial Services
Description
CRA INVESTMENT MANAGER
WHAT IS THE OPPORTUNITY? Responsible for leading CNB's commitment to achieve economic empowerment and growth for underserved individuals, families, and communities. Works to achieve this goal by investing in and partnering with non-profit organizations, for-profit Fund Managers, and community development financial institutions who collectively work towards the common goal of enabling progress in the neediest of communities.Develops and manages all Community Reinvestment Act ("CRA") investments include equity participation in SBIC, other private funds and LIHTC. CRA other investments include investment commitments to non-profit organizations (including CDFI) as well as for-profit CDFI. Actively engages in the sales process to ensure the attainment of CRA while ensuring CNB credit quality and risk management guidelines are maintained. This may be accomplished through active calling efforts and referrals from existing customers and line colleagues.'Participates in the investment management process by providing underwriting expertise to line colleagues. Analyzes prospective investment transactions and credit worthiness of borrowers. Prepares credit analysis and provides opinions and recommendations regarding proposed credit, including terms and conditions, and potential risks. May function as the primary credit contact for clients and interact effectively with all levels of Bank personnel and outside contacts.
What you will do
- Develop Strategy to identify appropriate investment mix in support to meet the maximum impact of the Bank's CRA Public Examination rating.
- Responsible for the identification, sourcing, analyzing, preparing, and presenting CRA investment opportunities to the bank's CRA investment committee. Position networks with many Fund investment Syndicators and General Partners annually to identify viable opportunities for CNB. Investments are screened for alignment with CNB's assessment areas, national or domestic value, track record and yield. Specific responsibilities for investing and lending include:
- Low- Income Housing Tax Credit (LIHTC)
- Responsible for the identification, analyzing, preparation and presenting CRA LIHTC investment opportunities to the Bank's CRA LIHTC investment committee. Position networks with many investment syndicators annually to identify viable opportunities. Investments are screened for alignment with CNB's assessment areas, national or domestic value, track record and yield. Develop annual volume including number of investments and aggregated budget.
- Work includes post approval Investment Closing, Portfolio Management, and monitoring Fund performance.
- Responsible for due diligence in the approval process for LIHTC funds, reviews sponsor financials and assess syndicators/syndicator 3rd party reviews. Report annually on all Sponsor/Syndicator financial status. Reports annually on LIHTC portfolio performance Small Business Investment Company (SBIC) Responsible for the identification, sourcing, analyzing, preparing, and presenting CRA Qualified Private Equity investment opportunities to the bank's CRA Equity Investment Committee. Investments are screened for alignment with CNB's assessment areas, asset class value, record and yield. Develop annual volume including number of investments and aggregated budget.
- Work includes post approval Investment closing and Portfolio Management including monitoring Fund performance. Work includes due diligence in the approval process, preparing supporting memo and package and present to CRA Equity Investment Committee. Reports annually on SBIC Fund portfolio performance. Collaborate with other Bank colleagues on working the referrals from SBIC funds Participate in the SBIA and other related industry groups.
Must-Have*
- Bachelor's Degree or equivalent
- Minimum 5 years of experience with CRA, regulatory compliance, or community development
- Minimum of 5 years of experience in community development work, nonprofit management, public policy initiatives, philanthropy, or banking/lending experience.
- Minimum 5 years working knowledge in aspects of CRA investing and lending with emphasis on Tax Credit, SBIC's and real estate/affordable housing related transactions (debt & equity).
Skills and Knowledge
- Experience should include networking or familiarity with the nonprofit organizations and for-profit corporations in the affordable housing and economic development industry.
- Excellent credit analysis and accounting skills.
- Demonstrated sales and marketing capabilities.
- Requires extensive technical expertise and full knowledge of commercial credit principles, financial concepts and regular use of ingenuity and creativity in solving complex credit problems.
- Thorough understanding of Community Reinvestment Act (CRA) and Fair Lending regulatory requirements and laws
- Knowledge of the issues in affordable housing, financial capability, and small business and microenterprise development and college access
- Existing relationships with public and nonprofit sector policymakers. Current relationships with non-profits in the Bank's assessment areas in order to demonstrate effective understanding of the funding landscape needs
- Experience in the ability to work and bring in new clients or expand existing client relationships from setting strategies through execution (e.g., prospective client meetings, prospect calls, sales calls, cross-selling, develop call schedules).
- Excellent organizational skills, creative, strategic, and analytical skills
- Strong relationship and project management skills; ability to multi-task and work well under pressure
- Candidate must possess great energy, fresh ideas and be able to work, at times, through ambiguity
- Strong verbal and written communication skills. Strong presentation and public speaking skills
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'
ABOUT CITY NATIONAL We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. #CA-MA #LI-MA
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