Investment Specialist II - CDF

Overview FCB invests in a variety of Community Development investment funds through several external syndicators for Community Reinvestment Act (CRA) and Community Benefits Plan (CBP) purposes. Position is to support the origination, underwriting, and closing of New Market Tax Credit (NMTC), Low Income Housing Tax Credit (LIHTC), Small Business Investment Company (SBIC) and other community development fund investments. This is a hybrid role to be based in Raleigh, NC, Chicago, IL, San Francisco, CA, or Boston, MA with the expectation that work time will regularly take place inside and outside of a company office. Responsibilities Originations and Fund Closings – Supports the origination, underwriting, internal credit and other (CRA, Tax, Treasury) approvals and closings for community development investments with multiple fund managers, including coordination with counsel on legal review of fund documents, and tracking investment status on the equity pipeline. Underwrites and closes other CRA eligible investment products to support First Citizens’ regulatory need. Portfolio Management Collaboration - Works with portfolio management team to update annual reviews of syndicator partners as part of credit approval process. Assists with the transfer of closed assets into the portfolio. Program Development – Provides meaningful input on New Market Tax Credit procedures and best practices. Assists in the development of originations and portfolio management strategies for the product line. Participates in meetings, trainings (inclusive of Bank required compliance courses), and other duties or special projects as assigned by senior leadership and management team. Qualifications Bachelor's Degree and 3 years of experience in LIHTC, SBIC, or NMTC Equity Investment Underwriting and Closing OR High School Diploma or GED and 7 years of experience in LIHTC, SBIC, or NMTC Equity Investment Underwriting and Closing Preferred Qualifications: Finance, Banking, New Markets Tax Credit structuring, Public Policy/Planning, Accounting If hired in California, the base pay for this position is generally between $130,000 to $177,000. If hired in Illinois, the base pay for this position is generally between $114,000 to $155,000. If hired in Massachusetts, the base pay for this position is generally between $125,000 to $170,000. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment. Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits. #LI-ED1 Originations and Fund Closings - Supports the origination, underwriting, internal credit and other (CRA, Tax, Treasury) approvals and closings for community development investments with multiple fund managers, including coordination with counsel on legal review of fund documents, and tracking investment status on the equity pipeline. Underwrites and closes other CRA eligible investment products to support First Citizens' regulatory need. Portfolio Management Collaboration - Works with portfolio management team to update annual reviews of syndicator partners as part of credit approval process. Assists with the transfer of closed assets into the portfolio. Program Development - Provides meaningful input on New Market Tax Credit procedures and best practices. Assists in the development of originations and portfolio management strategies for the product line. Participates in meetings, trainings (inclusive of Bank required compliance courses), and other duties or special projects as assigned by senior leadership and management team. Bachelor's Degree and 3 years of experience in LIHTC, SBIC, or NMTC Equity Investment Underwriting and Closing OR High School Diploma or GED and 7 years of experience in LIHTC, SBIC, or NMTC Equity Investment Underwriting and Closing Preferred Qualifications: Finance, Banking, New Markets Tax Credit structuring, Public Policy/Planning, Accounting If hired in California, the base pay for this position is generally between $130,000 to $177,000. If hired in Illinois, the base pay for this position is generally between $114,000 to $155,000. If hired in Massachusetts, the base pay for this position is generally between $125,000 to $170,000. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment. Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits. #LI-ED1