Location: Chicago, IL
Job Type: Full Time
Job Number: 2320998
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US Community Investments is part of the US Community Development Group and is responsible for a portfolio of community development investments that help meet the Bank’s Community Reinvestment Act (“CRA”) obligations. The portfolio includes investments in Low-Income Housing Tax Credits (LIHTCs), Small Business Investment Companies (SBICs), Community Development Financial Institutions (CDFIs), and other community development activities. The Community Investments Portfolio Asset Manager is responsible for acting as a portfolio manager by ensuring that portfolio administration and management are maintained for the portfolio, including planning, scheduling and completing required annual reviews and coordinating post-closing monitoring and reporting for Community Investments. The incumbent will report the Head of US Community Investments and will coordinate with the group’s Investment Officers and one or more Investment Analysts. The portfolio is highly visible within the CIBC Bank USA and has substantial external impact in raising the bank’s profile in the communities it serves.
What you'll be doing
- Preparing annual reviews and coordinating portfolio reviews for existing investments. This includes detailed financial analysis and preparation of investment review presentations for review by the Head of US Community Investment and the CRA Investment Committee.
- The incumbent will be responsible for presenting annual reviews for approval by the Bank’s CRA Investment Committee and, when required by policy, Credit Risk Management
- Manage communication with internal and external parties related to the processing and maintenance of the investment portfolio; this includes reviewing and approving external communications for data collection and internal communications (wires, closings, etc.)
- Manage required portfolio reporting, including quarterly Investment target progress, various dashboards for risk management and maintaining the portfolio tracking spreadsheets.
- Ensure that Investment compliance documentation (financial statements, reporting) and post-closing documentation (investment agreements, due diligence, know-your-customer backup) are maintained in Investment files.
- Participate and contribute to ad hoc projects and new initiatives to improve process efficiency or implement new procedures as assigned by the Head of US Community Investment.
Knowledge & Skills
- At least 3-5 years of experience as a relationship manager, portfolio manager or underwriter in a community development investment or lending role, commercial real estate lending or similar experience
- Bachelor’s degree required
- Formal credit training preferred; experience managing workflow of credit analysts preferred.
- Advanced Excel, Word, and PowerPoint skills. Experience with IBS/ACBS helpful
- Strong critical thinking ability: detail orientated.
- Excellent customer service and interpersonal skills, including verbal and written communications.
- Knowledge of Community Reinvestment Act and Community Development Finance preferred.
- Ability to manage multiple tasks simultaneously.
- Strong commitment to community development and relationship building.
Risk & Compliance
Our CIBC risk culture is based on employees striving to exceed the expectations of ourselves and our leadership’s identification and mitigation of risks in their daily responsibilities, not just in quarterly or annual monitoring/assessments. We all are accountable for managing risk.
As an employee of CIBC the incumbent must conduct themselves (and foster an environment for others) in a manner consistent with our strong risk culture. This includes:
- Following all aspects of the CIBC Code of Conduct, as well as all applicable CIBC policies, frameworks, guidelines, processes and controls
- At all times acting in accordance with our Purpose and shared values, to achieve our Bank’s strategic goals.
- Understanding and following the qualitative and quantitative components of our Risk Appetite Statements
- Completing all annual Corporate Mandatory Training and Testing modules, as well as any additional business-specific modules, as required and employing the learnings in daily activities and undertakings.
- Escalating matters through one of the appropriate channels identified in the CIBC Code of Conduct (i.e., HR, management, Ethics Hotline, Whistleblower, etc.) upon observing activities that may be inconsistent with CIBC’s policies, frameworks, guidelines, processes and controls.
- Speaking up if witnessing behaviors that drive poor or unfair outcomes for clients, team members or other stakeholders.
- Escalating matters that can result in adverse market practices and outcomes, thereby negatively impacting CIBC’s reputation as a leading financial institution.
What CIBC offers
At CIBC, our people are our greatest asset. You’ll become part of a diverse community that acknowledges everyone’s unique talents and empowers teams to do what’s right for the client and to do it well. As part of our team, you will:
- Thrive: Benefit from an open and approachable culture that provides the flexibility and support you need to integrate your life at work and home.
- Connect: Work in a place where the right technology and infrastructure foster innovation, collaboration, and creativity.
- Develop: Grow your skills and career through our best-in-class onboarding experience, ongoing learning opportunities, individual development planning, and comprehensive product training.
- Prosper: Share in our collective success with a competitive salary, incentive pay, banking benefits, health benefits programs, retirement savings, and more.