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Commercial Associate - Community Development Banking

Bank of America

Bank of America

Marketing & Communications, Customer Service
New York, NY, USA · Boston, MA, USA · United States · Remote
Posted on Wednesday, July 10, 2024

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Bank of America’s Community Development Banking (CDB) group is seeking a Commercial Associate to join our North Region Relationship Management team covering clients in the Northeast and Midwest. CDB is part of the Commercial Real Estate Bank (CREB) and is committed to building thriving communities throughout the nation by providing over $6.5B per year in debt and equity investment financing solutions to for-profit and non-profit developers of affordable multifamily rental housing. This position can be located in Boston or NYC and will report to the North Region Market Executive.

The Commercial Associate (CA) position offers a steep learning curve, focused on enhancing business development skills and proficiency in the financial services/products which support our Community Development Bank clients' objectives. The role affords the opportunity to work with many product and enterprise partners throughout the organization. Primary responsibilities of the CA include working with Relationship Managers and their coverage teams to support the delivery of comprehensive financial services/products and consultative advice to our Community Development Banking clients.

The CA position is a developmental role for future client-facing associates, specifically relationship management opportunities within CDB. The role provides exposure to and knowledge of real estate finance, debt products, tax credit equity investments, treasury solutions and other Bank products and processes. Position may be hired as a Commercial Associate I, II or III dependent upon experience.

The Commercial Associate participates as an integral member of the Community Development Banking Team. Primary roles and responsibilities include:

  • Develops comprehensive financial, industry, economic, client and transaction analyses and presentations to facilitate relationship management strategy.
  • Collaborates with Relationship Managers, product partners, coverage team members and clients to facilitate delivery of Bank products and services.
  • Supports the analysis of market and industry data to uncover insights for client/prospect meetings, pitch books, and relationship reviews.
  • Observes and/or supports the credit approval process to gain knowledge of credit products and help provide clients with exposure to the bank's credit products.
  • Observes and/or supports the treasury solutions packaging process to gain exposure to treasury products/services and their related approval processes
  • Responsible for business analytics to support CDB coverage teams, focusing on enhancing new and existing relationships. Identifies opportunities to provide financial products/services and/or relevant strategic advice to CDB clients and prospects.
  • Monitors and reviews activities across multiple product portfolios in order to identify opportunities in anticipation of client needs.
  • Works closely with the North Region Market Executive to support business planning and strategy routines including pipeline management, forecasting, process reviews and new initiative oversight.
  • Serves as subject matter expert to the client team for credit, equity and Treasury sales tools.
  • Connects with peers across CREB to help share best practices.

Required Skills:

  • Undergraduate Degree in Accounting, Finance, Real Estate, City or Urban Planning or related area preferred
  • Minimum 2 years previous experience which provided exposure to financial analysis, credit underwriting, modeling and project management
  • Demonstrated interest in affordable housing or community development.
  • Possesses outstanding interpersonal and critical thinking skills, the ability to work independently and a self-motivated drive for excellence.
  • Strong written and verbal communication skills
  • Demonstrated ability to quickly develop competencies around complex new tasks and responsibilities.
  • Strong work ethic with a focus on being proactive, thorough and collaborative.
  • Advanced experience with Microsoft Office (Outlook, Word, Excel, PowerPoint)

Shift:

1st shift (United States of America)

Hours Per Week:

40