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Portfolio Manager – Community Development Banking (Community Development Tax Credits) – Chicago, IL; or Los Angeles, CA

Req #: 180014512
Location: Chicago, IL, US
Job Category: Credit
Job Description:

The Community Development Tax Credits (CDTC) Group is part of Chase's Community Development Banking Team, which delivers financial products to support development and revitalization of low- and moderate-income communities.  The CDTC Portfolio Manager will be part of the team that manages the bank's Historic Tax Credit initiatives, which is part of Chase's Commercial Bank.  The Portfolio Manager will be aligned to specific geographies to underwrite, close, and monitor Historic Tax Credits projects working with Chase Originators, tax counsel and construction specialists, and project developers.  The successful candidate will work in a fast-paced, entrepreneurial atmosphere that requires flexibility and attention to detail.  


Major Functions (Principal Duties and Responsibilities)

  • Works closely with Chase Originators in coordinating, negotiating, and review of construction documentation prior to closing on an investment. This includes the review of all construction related documents including general contracts and general conditions, third party consultant reports, review of up-front project cost analysis, environmental reports, remediation plans, construction schedule, payment and performance bonds, disbursing agreements, and other construction required documents necessary to close investments.
  • Prepare credit approval documents for Community Development Tax Credit equity investments.

  • Analyze, identify and mitigate potential construction risks, and ensure the project will maintain compliance during the Historic Tax Credit compliance period.  Activities include: periodically collecting project status, compliance data, and review financial information from projects.
  • Excellent communication and relationship management skills to enhance external business-relationships and serve as the point of contact with third party professionals, developers, owners, external partners, and general contractors in the construction underwriting and closing process.
  • Work closely with the Project Team members, Chase Credit, and Legal on distressed projects.

  • 5+ years of banking/lending/credit experience, including underwriting real estate construction projects
  • Knowledge of and use of Historic Tax Credits
  • Demonstrated ability to simplify complex projects by focusing on key issues, activities and goals and identifying and acting upon a critical path
  • Demonstrated ability to identify obstacles and quickly create solutions
  • Significant accounting and finance knowledge. 
  • Strong analytic and writing skills
  • Excellent interpersonal, communication and teamwork skills
  • Strong computer skills, including Excel, Word and PowerPoint
  • Demonstrated ability to work independently and within the context of a deal team
  • Bachelor Degree required

The final officer title and job grade is at the discretion of the firm and will be discussed at the time of offer.  It may be different than what is listed on the requisition based on candidate experience level.

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